Latest news with #Ortberg
Yahoo
15-07-2025
- Business
- Yahoo
The Boeing Company (BA)'s A 'Great Buy' Off Of Air India Crash, Says Jim Cramer
We recently published . The Boeing Company (NYSE:BA) is one of the stocks Jim Cramer recently discussed. The Boeing Company (NYSE:BA)'s shares have been performing well in 2025 after dropping by double-digit percentages last year. The stock has gained 32% year-to-date as the firm's production woes and aircraft delivery constraints have gradually started to dissolve. As we've settled in 2025, The Boeing Company (NYSE:BA)'s shares were nearly dealt with another setback after an Air India aircraft crashed and led to nearly all passengers on board dying. Discussing the tragedy, Cramer commented: 'I thought that should have gotten much more publicity. There are a lot of people who sold Boeing on that. Even though the 787 has arguably been the safest, safest plane in history. What you read in those stories is really convoluted but I can't even imagine how it happened. It's almost, it's not sabotage, it's not. . .that's a great airline, I mean I was very surprised. We need to know more on that. That's a to be continued. I think Boeing's a great buy off of that. I thought Boeing would be up five. Ortberg's doing a great job.' A commercial jetliner parked at an airport, reflecting the companies success in aviation. Previously, the CNBC host commented on The Boeing Company (NYSE:BA)'s recent share price performance: 'Look I mean we want to be able to get that short end, We have a lot of breakouts, CAT's breaking out, Boeing has been breaking out. It's a furious breakout. These are retail names, these are not institutional names.' While we acknowledge the potential of BA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Miami Herald
09-07-2025
- Business
- Miami Herald
Boeing analysts reboot stock price targets ahead of earnings
Kelly Ortberg wants Boeing (BA) to straighten up and fly right. Ortberg, who became the aerospace giant's CEO last August, said in an interview with Aviation Week that "major culture change is one of my key turnaround focus areas." Don't miss the move: Subscribe to TheStreet's free daily newsletter "I've talked to our leadership about the need to get close to the people building and designing the airplanes," he said. "We've got to be closer and helping our people be successful. I've done a lot of work in changing the culture of a company. It's not a poster on the wall." Ortberg said people watch leadership's behavior, "and that's what drives change." "This is going to be an important year as we drive that into the organization," he said. "People need to see us walk the talk from the top down." On July 8 the company reported strong second-quarter deliveries. Image source:Boeing reported Q2 deliveries from its commercial operations totaled 150 planes, including 104 of the 737, 9 of the 767, 13 of the 777 and 24 of the 787. That 150 figure was up 63% from 92 a year earlier. Boeing Defense, Space and Security delivered a total of 36 units in Q2. The 2025 second quarter was the best such period since 2018, before two fatal crashes of 737 Max planes five months apart grounded the jets from March 2019 to November 2020. More Airlines: How unused United, Southwest, Delta airline miles can change livesThe head of a low-cost airline drops hints about IPO3 major airlines secretly sold your data to the government The company made headlines last January when an Alaska Airlines flight was forced to make an emergency landing after a door plug on the Boeing 737 MAX 9 aircraft blew out. A few months later, Boeing said CEO Dave Calhoun would step down. The move was part of a broad management shakeup. An article in the July issue of CPA Journal charged that "the Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that protect operational processes and encourage a culture of safety." "At Boeing, whistleblowers reported problems with operating processes that were ignored by management and weren't always reported to the board of directors," the authors wrote. "The company did not use internal audits to identify and correct operational problems, relying instead on FAA inspections to point out safety issues in its 737 MAX aircraft," the article continued. Boeing did not immediately respond to a request for comment. Meanwhile, investigators probing last month's fatal crash of an Air India Boeing 787 Dreamliner are closely examining whether the aircraft's fuel control switches were moved - intentionally or accidentally - just moments before the plane lost thrust and slammed into the ground, The Economic Times reported, citing a Reuters story. The London-bound jetliner crashed shortly after takeoff from Ahmedabad on June 12, after climbing to just 650 feet. Of the 242 people on board, only one survived, and several people were also killed on the ground. Shares of Boeing, which is scheduled to report second-quarter earnings on July 29, are up nearly 28% this year and up 23% from this time in 2024. Related: Boeing workers sent blunt message on 787 Dreamliner in leaked video In March, the U.S. Defense Department awarded Boeing the Air Force's Next Generation Air Dominance future fighter jet, known as NGAD. The sixth-generation fighter, which will replace the F-22 Raptor, will be designated the F-47. "It's the single largest investment we've ever made in a defense program," Ortberg said. "We've been investing for years. This was a well-run competition, and I think we did an excellent job in putting an offer forward that was superior to the competition." On July 3, Boeing said it had been awarded a $2.8 billion contract for the Evolved Strategic Satellite Communications program, the space-based component of the U.S. nuclear command, control and communications architecture. The initial contract is for two satellites, with options for two more in the future. On July 9 Susquehanna raised its price target on Boeing to $252 from $240 and affirmed a positive rating on the shares, according to The Fly. The investment firm updated its model following Boeing's report of the June deliveries. In light of the data, Susquehanna said, it continues to be encouraged by Boeing's progress on the commercial-production reramp. It said Boeing posted solid deliveries through the first half of 2025. Deutsche Bank raised its price target on Boeing to $245 from $235 and maintained a buy rating on the shares. The firm changed ratings in the defense sector as part of a Q2 earnings preview. U.S. defense "will again be a mixed bag this earnings season," the firm said. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
NBC News
08-07-2025
- Business
- NBC News
Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair in January 2024, sparking a new crisis for the company and slowing production and deliveries of aircraft. Of the monthly total, 42 were 737 Maxes, going to customers including Southwest Airlines, Alaska Airlines and United Airlines. CEO Kelly Ortberg, who took the top job at Boeing last August, has said the company has made progress in improving production rates and quality on its factory lines. For the three months ended June 30, Boeing handed over 150 airplanes, its best second quarter since 2018, before two crashes of Max planes five months apart grounded the jets and sparked a multiyear crisis at the top U.S. exporter. That was also the last year Boeing posted an annual profit. Its problems also gave rival Airbus a bigger lead over Boeing. Boeing this spring had been producing about 38 Max aircraft a month and will need Federal Aviation Administration approval to go above that limit, which the agency set after the door plug accident. Ortberg said at a Bernstein investor conference in late May that he's confident that the company could increase production to 42 of the jets a month. The company booked 116 gross orders in June, or 70 net orders when including cancellations and accounting adjustments. Boeing often removes or adds orders to its backlog for a variety of reasons including customers' financial health. Boeing's backlog stood at 5,953 as of June 30. The manufacturer is set to report second-quarter financial results on July 29, when investors will be focused on Ortberg's plan to increase production and aircraft deliveries.
CNBC
08-07-2025
- Business
- CNBC
Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The tally was the highest since before a door plug from one of its new 737 Max 9 planes blew out midair in January 2024, sparking a new crisis for the company and slowing production and deliveries of aircraft. Of the monthly total, 42 were 737 Maxes, going to customers including Southwest Airlines, Alaska Airlines and United Airlines. CEO Kelly Ortberg, who took the top job at Boeing last August, has said the company has made progress in improving production rates and quality on its factory lines. For the three months ended June 30, Boeing handed over 150 airplanes, its best second quarter since 2018, before two crashes of Max planes five months apart grounded the jets and sparked a multiyear crisis at the top U.S. exporter. That was also the last year Boeing posted an annual profit. Its problems also gave rival Airbus a bigger lead over Boeing. Boeing this spring had been producing about 38 Max aircraft a month and will need Federal Aviation Administration approval to go above that limit, which the agency set after the door plug accident. Ortberg said at a Bernstein investor conference in late May that he's confident that the company could increase production to 42 of the jets a month. The company booked 116 gross orders in June, or 70 net orders when including cancellations and accounting adjustments. Boeing often removes or adds orders to its backlog for a variety of reasons including customers' financial health. Boeing's backlog stood at 5,953 as of June 30. The manufacturer is set to report second-quarter financial results on July 29, when investors will be focused on Ortberg's plan to increase production and aircraft deliveries.
Yahoo
02-07-2025
- Business
- Yahoo
Why Boeing's new CFO Jay Malave is ‘critical' to a turnaround
Following a series of aircraft malfunctions, management missteps, and a strike by more than 33,000 machinists in 2024, the Boeing Company's C-suite continues to evolve. Brian West, Boeing's CFO for the past four years, is stepping down and will become a senior advisor to president and CEO Kelly Ortberg, the Fortune 500 company announced on Monday. Jesus 'Jay' Malave has been appointed EVP and chief financial officer, effective Aug. 15. Malave will lead Boeing's finance organization, as well as strategy, business planning, and global real estate, and will serve on the company's executive council. He was most recently CFO of Lockheed Martin and previously held senior finance roles at L3Harris Technologies. Malave spent more than 20 years at United Technologies (UTC), including serving as CFO of Carrier Corporation when it was a UTC division. West, Malave's predecessor, was appointed by former CEO Dave Calhoun in 2021. Both Calhoun and West are General Electric alumni. Calhoun, who pledged in March 2024 to retire by year-end following the widely publicized door-plug blowout over Portland, Or., on Jan. 5, 2024, was succeeded by Ortberg, who began his tenure on Aug. 8, 2024. In selecting a new CEO, Boeing's board was determined to appoint an outsider like Ortberg who could reform its culture and refocus on quality and reliability in manufacturing, Fortune reported. The board also sought a leader with a long-term vision, including plans for a long-overdue next-generation aircraft to strengthen Boeing's position against Airbus in the narrow-body market. Both Ortberg and Malave worked at UTC during their careers and are now strategic partners. 'Jay will become CFO at an important time in helping build Boeing's next chapter,' Ortberg said in a statement. The company continues to make progress on its recovery and implementing fundamental changes rooted in safety and quality, he added. Any chief executive or finance chief would say that 'a strong CEO-CFO relationship is critical' to successful execution—whether the strategy is turnaround, growth, or something in between, Scott Simmons, co-managing partner at executive search firm Crist Kolder Associates, told Fortune. 'There must be trust and respect between those two positions to make it all work.' Malave brings decades of experience developing people and teams across complex aerospace and manufacturing businesses, according to Ortberg. Regarding Boeing's challenges, 'I'm certain the board empowered Ortberg to 'fix it' and provided him with a very long leash,' Simmons said. The most important element Malave brings, beyond his track record at large, complex aerospace companies, is the ability to establish instant trust with Ortberg, he said: 'This will allow them to hit the ground running.' Fitch Ratings announced on Monday that it has revised its outlook for Boeing from 'negative' to 'stable.' The change reflects improved post-strike production, greater financial flexibility—including the April agreement to sell its Jeppesen navigation and digital aviation business and related assets to Thoma Bravo for $10.55 billion in cash—and reduced downgrade risks, supporting the company's BBB- rating. The stable outlook also factors in Fitch's expectation of gross debt reduction, including repayment of all 2026 notes at maturity ($7.95 billion). Malave and Ortberg will need to continue working to maintain positive momentum. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
