Why Shares of Boeing Suppliers Climbed Today
Investors are getting excited about the potential relaunch of Boeing's (NYSE: BA) 737 MAX, which is expected to be recertified in the coming weeks, if not sooner.
That's good news for Boeing, but also really good news for suppliers that count on the MAX for revenue. Shares of Parker-Hannifin (NYSE: PH) finished Thursday up 9.6%, Spirit AeroSystems Holdings (NYSE: SPR) was up 8.7% on the day, and Allegheny Technologies (NYSE: ATI) was up 7.7%.
The 737 MAX has been grounded since March 2019 following a pair of fatal accidents. The company has continued to produce planes through much of the grounding, but at reduced levels.
Source Fool.com
