After a two-week absence during which tech stocks were investors’ favorites, Boeing Co. (NYSE: BA) returned last week as the top performing stock among the Dow 30. Shares slipped just 0.5% during the week, but that was less that the Dow Jones industrial average as a whole. For the year, the stock is up about 10.6%.
The second-best performer among the Dow 30 so far this year is Nike Inc. (NYSE: NKE) which is up 8%. That is followed by Cisco Systems Inc. (NASDAQ: CSCO), up 6.3%, Intel Corp. (NASDAQ: INTC), up 5.7%, and Microsoft Corp. (NASDAQ: MSFT), up 5.5%. Only nine Dow stocks have posted a year-to-date gain as of last night’s close.
The Dow dropped 170 points over the course of the last week and closed the week at 23,932.76, down less than 1% for the week.
Boeing stock was hit hard on Wednesday following the announcement of China’s intention to impose reciprocal tariffs on certain goods imported from the United States. One of those goods was airplanes. But the tariffs apply only to some smaller planes and the impact on Boeing’s top and bottom lines, even if the tariffs are actually enforced (not a certainty at all), is expected to be no worse than about −5% over the next several years.
[nativounit]
The president’s doubling of the tariff tally from $50 billion to $100 billion put a chill on stocks Friday, Boeing included. Shares dropped about 3% by the closing bell.
Then Boeing announced an order from American Airlines for 47 787s, more than doubling the airline’s fleet of the dual-aisle jets. American also took options on another 28. The total value of the order at list prices is more than $12 billion.
Boeing stock closed Friday at $326.12, down 3.1% on the day, in a 52-week range of $175.47 to $371.60. The 12-month consensus price target on the stock is $386.83.
[recirclink id=455379]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks