Airbus recorded no new orders in May as the company adjusts to the harsh reality of airlines canceling or deferring orders for new planes in a bid to save cash.
The drought in orders has already forced both Airbus and Boeing to lower their production schedules and outline plans to cut thousands of jobs, a bitter pill after nearly a decade of strong orders creating record backlogs.
"I'm not surprised by these numbers," said Richard Aboulafia, an aviation analyst for the Teal Group. "I think we have another two years of negative book-to-bill for the plane makers." The outlook for both plane makers hasn't changed, but their investors don't seem to care. Shares of Boeing and Airbus are both up more than 40% in the last month. What's driving the renewed optimism by investors?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Slack shares down more than 10% as revenue growth remains steady despite pandemicSlack's revenue growth slightly picked up as coronavirus sent people home from work.
Read more »
Slack shares down more than 16% as revenue growth remains steady despite pandemicSlack shares tumbled in extended trading on Thursday after the company reported fiscal first-quarter results and withdrew 2021 guidance for calculated billings.
Read more »
The Bulls Have Taken Back the Stock MarketWSJWhatsNow: Boeing’s stock soared and Wall Street’s street cred is on the line. paulvigna breaks down this week’s winners and losers.
Read more »
Lady Gaga Shared a List of Organizations She's Donating to in Order to Support Black Lives MatterLadyGaga just shared a list of 10 organizations she's donating to in order to support BlackLivesMatter — and encouraged her fans to read up and support them, too.
Read more »
Dow soars 829 points after surprising jobs report shows unemployment fell in May | Markets InsiderUS equities spiked on Friday after the Bureau of Labor Statistics announced an unexpected decline in unemployment and net job creation in May. T...
Read more »
Novavax's stock soars after DoD contract to make its COVID-19 vaccine candidateShares of Novavax Inc. soared 14% in premarket trading Friday, after the biotechnology company said it was awarded a contract by the U.S. Department of Defense to manufacture its NVX‑CoV2373 COVID-19 vaccine candidate. The DoD has agreed to provide Novavax with up to $60 million to fund the production of several components of the potential vaccine in the U.S. As part of the contract, announced late Thursday, Novavax agreed to delivery in 2020 10 million doses of NVX‑CoV2373 for DoD that could be used in phase 2/3 clinical trials, or under an Emergency Use Authorization if approved by the Food and Drug Administration. On Friday, J.P. Morgan analyst analyst Eric Joseph upgraded Novavax's stock to neutral from underweight, while reiterating his $46 stock price target, saying current share price levels reflect the potential promise for the COVID-19 vaccine program. The stock has rocketed more than 11-fold year to date through Thursday (up 1,022%), while the S&P 500 has slipped 3.7%.
Read more »