Boeing (BA) Shares Rise as Cramer Says Buy, Airbus Cuts A380 Deliveries
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Shares of Boeing (NYSE: BA) are trading about 3.3% higher this afternoon amid several news items earlier:
- rival Airbus has confirmed yet another cut in it's expected deliveries of the A380 superjumbo. The company now expects to deliver 13 planes during 2009, down from the previous forecast of 14 after it agreed to delay a delivery til next year. For 2010, Airbus expects to deliver 20 A380's.
- Jim Cramer touted shares of Boeing on his Mad Money show last night, saying the stock "is still very much a buy". Cramer believes that despite numerous delays, investors should still need to be buying Boeing "for the Dreamliner, plain and simple." He also sees a ton of pent up demand for new planes meaning that whenever the new 787 does fly, it will provide Boeing with years of "strong growth".
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