[video] Quick Take: Boeing Scores Big at Dubai Air Show
NEW YORK (TheStreet) -- Boeing
The order totaled $100 billion and is the largest in commercial aircraft history.
The news has given a slight boost to Boeing stock, which was up 81% for the year to date before Monday's trading session began. Not surprisingly, it is the best performer in the Dow Jones Industrial Average, he noted. Shares recently rose 1.8% to $138.49.
While the order size has been determined, where the aircraft will be built has not. When Boeing presented a contract to have them built in Seattle, the union promptly and overwhelming rejected the offer due to it being "too concessionary," Reed said.
Although negotiations could reemerge between the two sides, three other locations have been named as potential building sites: Long Beach, Calif., Kansas and Utah.
The Boeing 787 aircraft is currently being built in South Carolina, a location that Reed concluded is not on the list for the 777X.
-- Written by Bret Kenwell in Petoskey, Mich.