Reported 2 months ago
Following a disastrous earnings report, Boeing has seen a significant decline in its stock value, losing over 13% since last week. The company's revenue fell short by $300 million, with a net loss reported at $2.33 per share and a shocking $4.3 billion cash burn in the quarter. CEO Dave Calhoun has announced his retirement, with Robert K. Ortberg set to take over as the company faces severe quality control issues and pressures from the Pentagon on fixed-price contracts, leaving the new CEO with a considerable challenge to restore Boeing's standing.
Source: YAHOO