Shares of Boeing as of 21:00 Moscow time has lost 11,19% ($13,03) compared with the previous close, falling to $103,33. This is according to trading on the new York stock exchange.
The share price drop has occurred on the background information previously published by Bloomberg, citing familiar with the situation sources. According to them, the U.S. Commission on securities and exchange Commission is conducting an investigation of company reports on prices and expected sales of the two aircraft — the Boeing 787 Dreamliner and Boeing 747. As noted by one of interlocutors of the edition, in the center of the investigation are the predictions about the return of these aircraft.
Also the investigation will affect the company’s existing accounting policies, which allows you to allocate costs in the manufacturing sector for a few periods. In Bloomberg noted that the Commission on securities and stock exchanges have previously supported this form of reporting, however, critics argued that it allows you to embellish the data on yield and to hide potential losses.
“Usually we do not comment on this nature of the investigation, the media,” said company spokesman Chaz Bickers in written comments. The representative of the Commission on securities and exchange Commission declined to comment.
On Wednesday Boeing announced a reduction of staff in the Department, which is responsible for the production of commercial aircraft. Reuters wrote that the decision was connected with the company’s desire to reduce spending and to achieve success in competition with Airbus. The company emphasized that the layoffs primarily will affect managers.
In late January, Boeing shares were already falling by 10%. This was preceded by the release of financial statements of the company for the fourth quarter, which referred to the reduction of orders for aircraft.