Boeing stock slips further on report it misled FAA
Boeing Co. shares added to losses Friday after Reuters reported that instant messages from 2016 suggest the company misled the Federal Aviation Administration regarding the 737 Max safety. The FAA turned over the messages to U.S. lawmakers and the Department of Transportation inspector general, according to reports. The 737 Max planes have been grounded worldwide since March after two deadly crashes less than five months apart. Boeing is still working on a solution for an equipment malfunction that appears to connect the doomed flights. Shares of Boeing were recently down more than 4%. In the year, the stock has gained 9.6%, compared with gains of 15% for the Dow Jones Industrial Average. Boeing is a Dow component.
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