Boeing Company (NYSE:BA) shares traded lower on Thursday despite fresh aircraft orders from Turkish Airlines and Biman Bangladesh Airlines, as broader market weakness and lingering execution concerns outweighed the positive demand headlines.
Turkish Airlines ordered 100 737-8 aircraft with options for another 50 737 MAX jets, while Biman Bangladesh ordered 11 aircraft, including five 787-10 Dreamliners and six 737-8s.
Industrials fell 0.61%, while the S&P 500 slipped 0.26%, adding pressure to Boeing after shares gained Wednesday on easing labor concerns.
• Boeing stock is facing resistance. Why is BA stock retreating?
New Orders Reinforce Boeing Demand
President Donald Trump highlighted the aircraft agreements Thursday, calling them a boost for U.S. manufacturing and exports.
The orders reinforce demand across Boeing’s narrowbody and widebody portfolios, but several deliveries are scheduled for future years.
That keeps production execution and cash generation central to the investment case as Boeing works through an estimated $715 billion backlog.
Labor Vote Runs Through Oct. 1
Boeing also received a positive labor development ahead of key contract expirations.
Union leadership, representing roughly 17,000 engineers and technical workers, recommended that members approve Boeing’s proposed four-year agreements.
Voting began Thursday, Sept. 24, and runs through Thursday, Oct. 1, ahead of the current contracts’ Tuesday, Oct. 6 expiration.
The recommendation reduces one near-term source of uncertainty as Boeing works to stabilize 737 MAX production and advance the 777X program.
The latest developments leave investors weighing strong aircraft demand against Boeing’s ability to convert its large backlog into production, deliveries and cash flow.
Technical Setup Remains Soft
Despite the positive company headlines, Boeing’s technical indicators continue to point to downside pressure.
Shares trade about 4% below the 20-day simple moving average of $205.51 and 11% below the 200-day average of $221.12, signaling weakness across both shorter- and longer-term trends.
The 50-day moving average also remains below the 200-day average following a September death cross. Meanwhile, the MACD is below its signal line, with a negative histogram, indicating that bearish momentum has yet to reverse.
Boeing would need to reclaim the $212-$216 resistance zone to strengthen the technical picture. Support sits near $187.50, with the 52-week low at $176.77.
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Earnings, Analyst Outlook In Focus
Boeing’s next estimated earnings report is scheduled for Oct. 28.
Wall Street expects a loss of 15 cents per share, compared with a $7.47 loss a year earlier. Revenue is projected at $24.99 billion, up from $23.27 billion.
Analysts maintain an average price target of $272, with forecasts ranging from $250 to $305.
Jefferies maintained a Buy rating while lowering its price target to $265 on Sept. 21. BofA Securities maintained a Buy rating with a $270 target on Sept. 18, while Argus Research upgraded Boeing to Buy with a $265 target on Aug. 11.
BA Stock Price Today
Boeing shares were down 1.61% at $196.50 at the time of publication on Thursday, according to Benzinga Pro data.
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