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Boeing’s stock extends bounce after receiving additional order for 30 737 MAX jets from 777 Partners

Shares of Boeing Co. BA, +2.12% rose 1.4% in morning trading Tuesday, after the aerospace and defense giant said investment firm 777 Partners has ordered 30 additional 737 MAX jets, to nearly double its original order. The additional order brings 777’s aircraft portfolio to 68 737 MAX aircraft, which are valued at a total of $3.7 billion at list prices. “We have long been confident in the economics of the 737 MAX family but we are especially excited about the 737-8-200 variant which represents the bulk of our additional orders,” said Josh Wander, managing partner at 777. “As travel demand returns, 777 has accelerated our quest for efficiencies in both operating cost and carbon footprint at our operating carriers.” Boeing’s stock has now bounced 10.9% since closing at a 13-month low of $188.19 on Dec. 1. It has still lost 2.6% over the past three months, while the Dow Jones Industrial Average DJIA, +1.55% has gained 1.6%.

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