Boeing-made communications satellite breaks up in space
Published On Oct 22, 2024, 11:50 PM
Boeing's recently constructed communications satellite, iS-33e, has completely failed and broken up in orbit, impacting Intelsat's customers across several regions. This incident adds to Boeing's ongoing challenges, including a large-scale strike in its commercial division, issues with its Starliner spacecraft, and recent layoffs. The company is also seeking substantial new funding and has pleaded guilty to a fraud conspiracy charge related to its 737-MAX planes.
Stock Forecasts
BA
Negative
Due to the cumulative effect of safety incidents, operational failures, and emerging labor issues, Boeing's stock is likely to continue facing downward pressure as investor confidence wavers. Additionally, the breakdown of the satellite can damage Boeing's reputation in the aerospace industry.
Related News
Boeing strike costliest in economic damage so far in 2024
Oct 22, 2024, 6:00 AM
Boeing and its striking union machinists have reached a tentative deal that could end the work stoppage, which analysts say has been the most costly of 2024.
Stock market today: Dow, S&P 500 slip, Nasdaq wavers with flood of earnings ahead
Oct 21, 2024, 1:46 PM
Investors are bracing for a packed week of top-tier earnings that could drive or drag on a record-setting rally.
Stock market today: Dow, S&P 500, Nasdaq slip with flood of earnings ahead
Oct 21, 2024, 9:58 AM
Investors are bracing for a packed week of top-tier earnings that could drive or drag on a record-setting rally.