قالب وردپرس درنا توس
Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ World https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Widely followed Wall Street short seller says Boeing is putting short term profit above all else

Widely followed Wall Street short seller says Boeing is putting short term profit above all else



Short seller Carson Block recently reveals Boeing crashes of its 737 MAX plans show that the company is more concerned with short-term profit than anything else

tweet

A spokesman for Muddy Waters confirmed to CNBC that the research firm does not have a short position in Boeing, but wanted to weigh in on recent developments. Aerospace manufacturer Boeing did not immediately respond to CNBC's request for comment.

Boeing shares fell 1 percent on Tuesday, the company said it will cut production of the 737 MAX.

Muddy Waters' comments come a week after Ethiopian investigators released a 33-page preliminary accident report, which industry officials and air safety experts say raise questions about the Boeing 727 Max's Maneuvering Characteristics Augmentation System (MCAS), designed to prevent stalls.

Boeing Chief Executive Dennis Muilenburg last week said "it's our responsibility to eliminate this risk, "adding" we own it and we know how to do it. "

But between the March 10 Ethiopian crash and October's fatal nose-dive of a Boeing 737 MAX aircraft in Indonesia, investors and regulators alike have also been scrutinized pilot and crew response for any abnormal crew actions.

That's included in the decision by Ethiopian Airlines' captain to leave the plane's engine at full take-off power, reportedly unusual step in a regular flight, according to four experts and five current and former pilots interviewed by Reuters

For their part, Ethiopian aviation officials as members of Ethiopian Airlines contend that both the plane's pilot and co-pilot followed Boeing's protocols for dealing with an error in the plane's MCAS stall-prevention system

Boeing is working on updates to the plane's system's software in an effort to future future failures of the MCAS system, which have prompted regulators around the world to gr ound the 737 MAX until the issues are corrected. The company's stock is up 4.2% since the Oct. 29 Indonesian crash, underperforming the broader market.


Source link