by David Aurelio.
Shares of Boeing Co (BA.N) fell 6.79% on Friday upon reports the company may have mislead FAA about the 737 MAX’s safety system.
Analysts have been increasingly bearish ahead of this report, making downward revisions to earnings estimates. The airplane maker is expected to see 19Q3 YoY earnings descend 41.9%, down 4.9 percentage points from the Oct. 1, 2019 outlook. Despite the drag from Boeing, the outlook for the S&P 500’s aerospace & defense industry’s YoY 19Q3 earnings have remained relatively constant and are currently expected to decline 9.9% vs. the anticipated 9.1% decrease on Oct. 1.