Shares of Boeing ticked higher Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 MAX aircraft in the coming weeks.
div > div.group > p:first-child"> The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. The FAA followed the lead of dozens of other countries, citing links between two fatal crashes as grounds to cancel those flights. Boeing's stock had tanked more than 11 percent this week in the aftermath.
Shares rose 1.3 percent Friday afternoon, following the report. Boeing's gains were limited as the company reportedly told Reuters the timeline has not changed. The turnaround comes much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to"certify the fix."
I thought there wasn’t a problem 😱
I still won't get on one
This makes no sense for the shares to rise as lawsuits will follow. They are admitting they sold defective planes around the world with this software update. Lawyers representing airlines who bought the Max 8 & affected families may use what US did with BP after oil well disaster
Well at least it will be well thought out software upgrade and it won’t be rushed or anything. There are a few family members of loved ones who were on an Ethiopian flight that might be talking to a lawyer right now.... hubris greed jailtime
they gonna be wearing $100 billion in litigation costs. They knew. The share should get really spiky when that gets priced in ....