What’s moving markets today: Latest news

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The crisis around Boeing, once a blue-chip stock, is getting worse. Investors are about to find out exactly how much damage has been done.

Boeing (BA), which reports third quarter earnings on Wednesday, is expected to show a return to profitability. But that will be overshadowed by all the bad news plaguing the company. 

The chief concern: Investors are desperate for guidance on when Boeing’s best-selling plane, the 737 Max, can return to service. The plane has been grounded since March, following two fatal accidents that killed everyone on board.

Boeing has already taken a $5 billion charge related to compensation it expects to give to its airline customers.

It’s likely to announce a new charge Wednesday because of continuing delays in getting approval for the plane to fly again, according to Cai von Rumohr, an aerospace analyst at Cowen.

The company faces ongoing scrutiny from US regulators about the original certification process for the plane back in 2016.

The Federal Aviation Administration chastised Boeing last week for only recently alerting the agency to concerns expressed during the process by employees.

That revelation has weighed on Boeing shares, which have plunged more than 20% since March.

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