Why Boeing Stock Just Took Off
Boeing (NYSE: BA) stock turned bright green Wednesday, rising 4.7% through 1:35 p.m. EST on the back of a pair of positive news items for the industrial giant.
In item one: Reuters reports today that Boeing has filed comments with the European Union Aviation Safety Agency (EASA), criticizing the design of the fuel tank on rival Airbus' (OTC: EADSY) new A321XLR narrow-body jet. In Boeing's estimation, the A321XLR's design, which integrates an extra fuel tank into the airplane's fuselage, "presents many potential hazards" for risk of fire, especially in the event of, for example, an emergency belly landing by the plane.
And in a separate item, Reuters notes that a start-up manufacturer of supersonic jets that Boeing is backing, Aerion, has signed up Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) NetJets subsidiary as an early customer, taking purchase rights to buy 20 of Aerion's planned AS2 supersonic business jets.
Source Fool.com
