Following a one-week absence, The Boeing Co. (NYSE: BA) has returned as the top-performing stock among the Dow 30 last week. Unlike its performance in 2017 when it grabbed the top ranking early and held it for most of the year, Boeing has bounced into and out of the top spot this year. The company’s shares added about 3.6% in what was a good week for the index itself. For the year to date, Boeing shares have gained 25.3%.
The second-best performer among the Dow index equities so far this year is Nike Inc. (NYSE: NKE) up 19.7%, followed by Intel Corp. (NASDAQ: INTC), up 19.3%, Microsoft Corp. (NASDAQ: MSFT) up 18.8%, and Visa Inc. (NYSE: V), up about 18.2% . Of the 30 Dow stocks 14 have managed to post a gain for 2018 to date.
The Dow added more than 680 points over the course of the past week to close at 25,316.53, up nearly 2.8%. For the year to date the tech sector has added 13.6%, best among the 10 market sectors.
Last Monday Boeing announced a joint venture with French engine maker Safran that will design, manufacture, sell, and service an auxiliary power unit. This shapes up to be a major change in the market for these devices which are used to provide power to aircraft when they are parked.
Although there’s been no official announcement yet, Boeing is expected to win an order from India’s Tata SIA Vistara airline for six 787 Dreamliners and options for four more. Including options, the deal would be valued at more than $3 billion at list prices depending on the mix of 787-9s and 787-10s the airline chooses. The significance of the expected order is that it marks yet another defeat for the Airbus A330neo in head-to-head competition with the 787.
Even Friday’s announcement that Airbus is closing its deal to take control of Bombardier’s C Series program didn’t weigh on Boeing stock.
Boeing’s shares closed up about 0.3% Friday at $369.50 in a 52-week range of $187.70 to $374.48, a new 52-week high posted Thursday. The consensus 12-month price target on the stock is $398.13 and the forward price-earnings ratio is 21.53.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
