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Stock impact report

Boeing Nosedives After 737 MAX Grounding, COVID-19 [Yahoo! Finance News]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Boeing Co.'s specially modified jumbo jet for carrying oversize structures of the 787 Dreamliner to assembly plants in Washington and South Carolina is called the Dreamlifter. The past 18 months, culminating in Wednesday's first-quarter financial results, has been a nightmare.The aircraft manufacturer reported a $640 million net loss, and an adjusted earnings per share loss of $1.70,, stemming from a 26% drop in revenue due to the coronavirus crisis and the yearlong grounding of the 737 MAX after two deadly crashes within five months.Chicago-basedBACEO David Calhoun earlier warnedBoeing said it is adjusting to the new reality by reducing commercial airplane production rates, undertaking an organizational restructuring, and reducing staffing levels through a voluntary leave program and additional workforce cuts, as necessary.Like its customers, the airframer is borrowing money, reducing discretionary spending and operating costs, reducing or deferring research and development, suspendi Show less Read more
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