Boeing in talks with US defense department on impact of guilty plea - source [Yahoo! Finance Canada]
S&P Global Inc. (SPGI)
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Source: Yahoo! Finance Canada
Defense Department over how the planemaker's planned guilty plea could affect its extensive government contracts, a person briefed on the matter said. Late on Sunday, the Justice Department said in a court filing that Boeing had agreed to plead guilty to a criminal fraud conspiracy charge to resolve an investigation linked to two 737 MAX fatal crashes. Boeing and the Defense Department did not immediately comment on Monday. Boeing shares were up 3.4% on Monday to $190.68 in morning trading. A guilty plea potentially threatens the company's ability to secure lucrative government contracts with the likes of the U.S. Defense Department and NASA. ADVERTISEMENT Boeing's defense and space unit is vital to its business, with $7 billion in first quarter sales, up 6% from a year ago. Boeing in its annual report said U.S. government contracts represented 37% of its revenue last year including foreign military sales. Still, the financial costs tied to the plea appeared "manageable
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SPGI
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- 7/30/24 - Beat
SPGI
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- 8/9/24 - Form 4
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- 8/7/24 - Form 144
- SPGI's page on the SEC website