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NEW YORK (TheStreet) -- Boeing (BA) stock is plummeting 9.51% to $115.84 on heavy trading volume this morning after issuing full-year guidance short of analysts' expectations. 

"There are so many questions to be answered about this Boeing call," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning. "It is certainly not what I wanted to hear."

One such question that Cramer has for Boeing is, "How could you have such a decline in earnings per share with all those orders that we keep talking about?"Just last week, United Continental (UAL) and Southwest Airlines (LUV) separately announced orders for 40 and 33 Boeing aircraft, respectively.

Cramer pointed out that Lockheed Martin (LMT) stock was similarly getting crushed following its earnings results yesterday. However, shares reversed losses after management explained the quarter during the company's conference call. 

Even so, Cramer is not terribly optimistic about Boeing. 

He noted that there are only so many cycles occurring at once. As the banking cycle "got crushed," Cramer was clinging to the aerospace cycle just as the South Vietnamese clung to helicopters in Saigon when evacuating the Vietnam War. 

Co-anchor David Faber asked whether Cramer is still hanging on.

"No, I got in the helicopter," Cramer responded. "See you later."

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B+.

Boeing's strengths such as its revenue growth, notable return on equity, good cash flow from operations, growth in earnings per share and increase in net income outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

 You can view the full analysis from the report here: BA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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