This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boeing Shares Fall After Heathrow Incident

NEW YORK (TheStreet) -- Boeing (BA) shares plummeted shortly after 12 p.m. ET after a 787 "Dreamliner" caught on fire at London's Heathrow Airport.

Shares had been trading at $107.48 at noon, but dropped as low as $99.40 by 12:50 p.m. Boeing rebounded $101.78, or down 4.77%, in mid-afternoon trading. Boeing is up 34.97% so far this year.

Both runways at the British airport were closed after a fire started on an empty Ethiopian Airlines 787 Dreamliner. Boeing, the Chicago-based aerospace and defense company, tweeted that personnel were on scene to address the issue. The fire on the plane, named "Queen of Sheba," was extinguished and the plane was towed to a parking area, allowing service to resume at Heathrow.

"The aircraft was parked on a remote parking stand. There were no passengers on board and there are no reported injuries at this time. Arrivals and departures are temporarily suspended while airport fire crews attend to this incident. This is a standard procedure if fire crews are occupied with an incident," Heathrow Airport said in a statement Friday.

The 787 family carries between 210 to 290 passengers for ranges over 8,000 nautical miles, according to Boeing's Web site.

Boeing's 787s have faced problems in the past. In January, 50 Dreamliners were grounded by the American Federal Aviation Agency due to battery malfunctions. The innovative lithium-ion battery system had caused fires on two separate planes: one in Boston and the other in Japan. The FAA approved plans to fix the problems in March.

Last week's Asiana Airlines crash was also a Boeing Aircraft. The pilots claim that the auto-throttle on the Boeing 777 had not operated properly. The National Transportation Safety Board is still determining the causes of the accident, which resulted in two deaths.

Boeing and Heathrow Airport have not disclosed the cause of the fire.

-- Written by Robert Arenella in New York

>To contact the writer of this article, click here: Robert Arenella.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs