What's Going On With Boeing Stock Wednesday?
Key takeaways
- Boeing's commercial aircraft data and deal with Archer Aviation Inc. weighed on investors, causing the stock to decline despite the broader market gaining.
- 6,192: Boeing's commercial backlog
- 6,202: Boeing's commercial backlog at the end of June
- 38: Gross orders booked by Boeing
What happened
Boeing Co. reported a commercial backlog of 6,192 aircraft, down slightly from 6,202 at the end of June, and booked 38 gross orders with eight cancellations, taking year-to-date gross orders to 483.
Why it matters
The commercial aircraft data and Boeing's deal with Archer Aviation Inc. weighed on investors, causing the stock to decline despite the broader market gaining.
Short-term and longer-term
Short-term. Boeing's commercial aircraft data and deal with Archer Aviation Inc.
Longer-term. Boeing's deal with Archer Aviation Inc. could significantly change the profile of the company, with profitable Insitu generating more than $200 million in annual revenue and expected to contribute positive free cash…