Boeing shares down more than 9% on cautious growth plan

Boeing shares slumped Tuesday as the company’s cautious timeframe for ramping up output and reaching key financial targets caught the market off guard.

Near 1500 GMT, Boeing shares stood at $169.80, down nearly 10 percent. Chief Executive Kelly Ortberg said the company does not expect 737 MAX output to reach 52 per month until the second half of 2027. The company expects to reach $10 billion in free cash flow in 2029, Ortberg said.