Why Investors Should 'Be Hesitant' on Boeing in Immediate Term
While some defense production resumed this week, commercial airplane production of the 737, 747, 767, 777 will kick off next week, bringing 27,000 jobs back online. "This phased approach ensures we have a reliable supply base, our personal protective equipment is readily available and we have all of the necessary safety measures in place to resume essential work for our customers," said Stan Deal, president and CEO of Boeing Commercial Airplanes.
Boeing also issued a series of practices it will adopt to help protect returning employees from the coronavirus. Measures include staggered shift times, required facial coverings, remote work when possible, wellness checks and voluntary temperature screenings. Boeing will also provide personal protection equipment when social distancing cannot be maintained.
Boeing’s production in South Carolina remains suspended.
The news was followed by coronavirus task briefing from President Trump during which the president detailed the White House’s plan to reopen the economy in phases.
As of 10 a.m. ET, Boeing was up … to ….
What does it mean for the stock going forward?
Jeff Marks, senior analyst for Jim Cramer’s ActionAlertsPlUS portfolio breaks it down in the video above.
Catch more exclusives from Cramer and Marks on AAP.
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