PPA - Boeing Will Deliver Q1 Earnings While At Center Of Air Safety Scandal: 'Everybody Wants Boeing To Succeed' (CORRECTED) | Benzinga
Editor’s note: This story has been corrected to reflect that Boeing reports earnings premarket Wednesday.
As the market awaits Boeing Co's (NYSE:BA) earnings call this week, investors are wondering whether the company's results will be strong enough to counter recent scandals hunting the company's public image.
The aircraft manufacturer will release its results premarket Wednesday.
Boeing is facing major criticism over safety concerns that sprouted several federal investigations and are eroding investor trust in the company.
Boeing has become among the most volatile stocks in the aerospace and defense sector, with its shares dropping 32.5% since January, after an aircraft made by the company lost a part of its fuselage.
Before the drop, Boeing's stock grew around 47% between late October and mid-December.
By contrast, iShares US Aerospace & Defense ETF (BATS:ITA), the largest ETF in the sector by total assets, is up 2.3% since January and 11% in the past year. About 13% of the fund's assets consist of Boeing stock.
Invesco Aerospace & Defense ETF (NYSE:PPA), which has 6% of its assets allocated to Boeing, has performed even better, and is up 8.7% since January and 22% in the past year.
Airbus SE (OTC:EADSY), Boeing's main competitor in the commercial aviation market, has benefited from Boeing's downfall, and its shares are up 12% since January and 22% in the past year.
Read also: Boeing Wants To Make Flying Cars In Asia While Aircraft Unit Faces Severe Turbulence
Analysts Weigh In On Boeing
On Monday, Barclays analyst David Strauss maintained Boeing's rating (NYSE:BA) with an Equal-Weight but lowered ...