Jim Cramer Says Buy Honeywell on Positive Boeing 737 Max News

Jim Cramer weighs in on Boeing and the stock investors should be looking to buy off of the latest news.
Publish date:

Boeing won a U.S. Air Force contract that could potentially be worth $23 billion. 

Boeing will build at least eight F-15EX fighter jets for the Air Force at its St. Louis, Missouri production facility in a deal worth $1.2 billion, the company said late Monday. It will also remain part of an "indefinite-delivery, indefinite quantity' contract with the Air Force that could eventually amount to around $23 billion.

'The F-15EX is the most advanced version of the F-15 ever built, due in large part to its digital backbone,' said Boeing's program manager Lori Schneider. 'Its unmatched range, price and best-in-class payload capacity make the F-15EX an attractive choice for the U.S. Air Force.' 

This follows reports that American Airlines is set to cancel around 17 orders for Boeing's 737 MAX, which has yet to win FAA clearance to resume flights following its grounding by regulators last year. The grounding came after fatal crashes in Indonesia and Ethiopia.

Boeing resumed production of the 737 MAX in late May, while revealing plans to cut more than 12,000 jobs, as it awaits approval from the FAA, but demand for the troubled aircraft continue to slump. 

Jim Cramer said if you're feeling optimistic about Boeing, Honeywell may make the better stock to buy. Find out why in the video above. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Watch More of the Latest Videos on TheStreet and Jim Cramer