Boeing Co. (BA) fell the most in a month after the company said it would inspect wings for cracks on undelivered 787s, and a 777 flown by Malaysian Airline System Bhd vanished over the ocean three days ago.
“News of the wing and inspections likely lower first quarter deliveries, plus the 777 aircraft incident in Asia will likely weigh on the Boeing stock this week,” said Peter Arment, an analyst at Sterne, Agee & Leach Inc.
Boeing said March 7 it’s inspecting about 40 Dreamliners for hairline cracks after it was notified by supplier Mitsubishi Heavy Industries Ltd. of the risk. It may take up to two weeks per aircraft to install the fix, Arment said. He lowered his first-quarter estimate for 787 deliveries by 10.
Nine countries are investigating the disappearance from radar of a Boeing 777-200 on March 8 that was flying from Kuala Lumpur to Beijing with 227 passengers and 12 crew members.
Boeing fell as much as 2.7 percent to $125.05, it’s biggest intraday decline since Jan. 31. It was trading at $125.16 at 11:05 a.m. in New York.
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