For the first nine weeks of 2016, shares in Boeing Co. (NYSE: BA) have lost more than 16% and are the worst performers among the 30 stocks that comprise the Dow Jones Industrial Avenue. While the aircraft maker has received some good news, the less-good news seems to pile up more quickly.

The good news for Boeing is that it appears to be about six months ahead of schedule for deliveries of its new 737 MAX. The first plane could be delivered as soon as the first quarter of 2017.

The other good news is that the deferred production cost tab for the 787 Dreamliner is about to stop growing. Most likely that will happen in the second quarter of this year, and Boeing will begin to realize a profit on each 787 it sells. Unfortunately, the tab is around $30 billion and will take years to pay off.

The bad news is the cut to production of the 777, one of Boeing’s real cash cows. The worse news is that there are plenty of 777s coming off lease programs and there will be plenty of opportunity to purchase used versions of the plane for significant savings. That makes sense for many airlines that fly the plane because fuel prices have fallen so far, obviating the need to order either a new 777-300ER or the new 777X that will become available in 2020.

Then there’s the U.S. Securities and Exchange Commission (SEC) investigation of a whistleblower’s complaint about the company’s use of the program accounting method. While the method itself is GAAP-compliant, the complaint is focused on how Boeing estimated sales from the 787 program.

On December 31, 2015, Boeing shares closed at $144.59. Last Friday the shares closed at $121.07, up about 1.2% for the day and up 2.6% for the week. The stock’s 52-week high is $158.83, and the consensus price target is $140.17.

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