Boeing Co. stock drops and says strategies to build on existing investments in India

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Boeing Co. stock drops and says strategies to build on existing investments in India

Shares of Boeing Co. BA, -1.20% shed 1.20 %to $151.82 Friday, on what showed to be a well-rounded miserable trading session for the stock exchange, with the S&P 500 Index SPX, -1.07% dropping 1.07% to 3,924.26 as well as Dow Jones Industrial Standard DJIA, -1.07% falling 1.07% to 31,318.44. This was the stock's 4th consecutive day of losses. Boeing Co. boeing stock news shut $82.12 except its 52-week high ($ 233.94), which the business achieved on November 15th.

The stock showed a mixed performance when compared to a few of its rivals Friday, as Honeywell International Inc. HON, -2.01% dropped 2.01% to $186.89, Lockheed Martin Corp. LMT, -0.96% fell 0.96% to $418.57, as well as Northrop Grumman Corp. NOC, -0.70% dropped 0.70% to $476.95. Trading volume (5.2 M) remained 2.7 million below its 50-day typical volume of 7.9 M.

Boeing believes plans to build on existing financial investments in India

Planemaker Boeing (BA.N) plans to improve its existing investments in India in areas such as defence supply chains and also manufacturing, the business said on Wednesday.

The world's second-largest planemaker is supplying its F/A -18 competitor jet to buy to India's armed forces and also claimed the selection of the jet would certainly help improve financial investments in the nation's protection sector.

" Boeing prepares for $3.6 billion in financial effect to the Indian aerospace and also support market over the following one decade, with the F/A -18 Super Hornet as India's next carrier-based competitor," the business stated in a declaration.

India is among world's biggest arms importers, investing $12.4 billion in between 2018 and 2021, the SIPRI Arms Transfers Data source shows.

Prime Minister Narendra Modi's federal government is seeking to domestic firms and eastern European countries for army gear as well as ammunition and has determined 25.15 billion rupees ($ 324 million) well worth of protection equipment it wants domestic firms to manufacture in 2022, Reuters reported earlier this year

See inside Boeing's first-ever 777X aircraft screening technology like the jet's innovative folding wingtips

Virgin Australia is making a bullish bet on the Boeing 737 MAX by doubling its initial order to eight jets before the first one has also flown.

The airline today verified it would certainly add 4 more MAX 8 aircraft to the fleet from 2023-- an action which swells Virgin's overall 737 family members fleet to an all-time high of 92 jets, larger than the years when previous chief executive officer John Borghetti initially placed Qantas in the affordable cross-hairs.

"In spite of the challenges encountered by our market, demand for traveling remains solid, and also we're responding with a focus on the long-term by increasing the performance and sustainability of our fleet with 4 extra Boeing MAX eights joining our fleet from 2023," kept in mind Virgin Australia Team CEO Jayne Hrdlicka.

The very first 737 MAX in Virgin livery is set up to be flying from February 2023, after winging its means from Boeing's assembly centre at Renton, south of Seattle, to Virgin's Brisbane hangars.

And the brand-new jets will certainly be crowned by a new company course seat-- although this is tipped to be the exact same style that's being trialled on 2 of the airline company's Boeing 737-800s already rushing around Virgin's domestic network.

Hrdlicka teems with praise for the comfortable and well-equipped seats, which add a leg-rest and also storage space pocket doing not have in the current service class, as well as AC/USB power electrical outlets and also a convenient owner for tablet and smart devices.

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