Boeing stock swung higher Thursday as the Dow Jones Industrial Average rebounded from Wednesday's sharp decline. The aerospace manufacturer said it had restarted production for its various airplane programs on Wednesday. Meanwhile, NASA astronauts delivered by Boeing's Starliner to the International Space Station faced a new round of delays for their return to Earth.
Boeing resumed production for its 737, 767 and 777/777X airplane programs, COO Stephanie Pope announced on LinkedIn Wednesday.
Pope said that Boeing's Pacific Northwest factories have come back online using the company's safety management system to identify potential issues and ensure a safe restart.
"In particular, we have taken time to ensure all manufacturing teammates are current on training and certifications, while positioning inventory at the optimal levels for smooth production," Pope wrote in the post. "As we move forward, we will closely track our production health performance indicators and focus on delivering safe, high-quality airplanes on time to our customers."
Boeing began resuming production for its 737 MAX jets in early December, Reuters reported, about a month after the end of a seven-week strike by 33,000 of its union factory workers. The employees returned to work in November after securing a new four-year labor agreement.
Starliner Astronauts Delayed Return Extended
Elsewhere, the Wall Street Journal reported that NASA astronauts Sunita Williams and Barry Wilmore are expected to be stuck on the space station until late March at the earliest. The later date will allow crews more time to process the SpaceX capsule now handling the return mission.
The agency had previously planned for the return in February but the Boeing spacecraft flight has faced multiple delays.
The pair of astronauts launched on a Boeing Starliner in June. At the time, the mission was only intended to last eight days. However, the spacecraft faced multiple technical problems and propulsion issues, which required the Starliner to return to Earth without the astronauts.
NASA tapped SpaceX to coordinate the trip home, with Elon Musk's company becoming a top agency partner. SpaceX is set to return Williams and Willmore in a March mission, along with NASA astronaut Nick Hague and Russian cosmonaut Aleksandr Gorbunov.
Meanwhile, Boeing is exploring the sale of its space business, according to reports from October.
Boeing Stock
BA stock surged 2.6% Thursday.
Boeing is up 29% from a November low, and establishing itself above 200-day support for the first time since January. Investors should watch for a base to form above the moving average, or at least a few weeks of paused action.
Boeing stock has tumbled about 32% this year through Thursday's close.
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