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Aerospace behemoth Boeing (NYSE: BA) stock took a 2.5% hit on Monday after Bloomberg reported that China Southern Airlines (NYSE: ZNH) is delaying acceptance of deliveries of more than 100 Boeing 737 MAX jetliners to 2025 or later.
That's the bad news. The good news is that Boeing stock is turning around and regaining altitude this morning, up 3.5% as of 11:40 a.m. ET on a note from JPMorgan that argues the news is "not as stark" as it first appeared to be.