Boeing stock ( NYSE:BA ) is rising after the company received a sizable order for several of its largest jets.
United Airlines ( NASDAQ:UAL ) announced on Tuesday that it had placed an order for 100 wide-bodies, twin-aisle jets manufactured by Boeing (BA) with an additional option to buy 100 more. It’s the most significant order of wide-body jets ever placed by a domestic airline in the United States.
In premarket trade, shares of Boeing have increased by 3%, while shares of United have decreased by 1%. Futures contracts on the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) have risen by 2.8% and 2.2%.
Boeing Stock Price Increased After the Big Order
The aerospace giant’s stock led the pack of Dow Jones Industrial Average’s DJIA gainers, up 0.23%. The price increase of $6.06 added around 40 points to the price of the Dow, which was down 98 points, equivalent to 0.3%. A report by the Wall Street Journal (WSJ) stated that an agreement between Boeing and United may be finalized as soon as this month and that the deal might be worth billions of dollars in income for Boeing. The story cited persons who were familiar with the situation.
The company’s share price, which was on course for its best close since April 20th, has increased by 19.8% over the past three months, while the Dow increased by 9.5% during the same period.
Between 2024 and 2032, United will receive the jets in question.
According to information provided by the airline on Tuesday, United will get delivery of about 700 brand-new jets by the end of 2032. These new jets will include both 787 and Boeing 737 MAX models.
The Chief Executive Officer of United Airlines, Scott Kirby, stated in a press...
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