Shares of Boeing Co. BA climbed 1.4% in morning trading, and have rallied 5.2% amid a three-day win streak, after AAR Corp. AIR announced a deal to buy nine Boeing 757-200 passenger aircraft. Financial terms of the deal were not disclosed. AAR, which provides aviation services to commercial and government operators, said its AAR Supply Chain subsidiary was buying the aircraft, which will be equipped with 18 Rolls-Royce RB211 engines from American Airlines. AAR’s stock slipped 0.3% in morning trading. “The acquisition of these aircraft and engines will enable AAR to continue to support the RB211-powered 757 cargo market,” said Brian Salvatori, vice president of asset trading at AAR. Boeing’s stock has advanced 9.1% year to date, while AAR shares have soared 22.0% and the Dow Jones Industrial Average DJIA has slipped 1.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
