Boeing Shares Slip as Contract Negotiations Enter Crucial Phase

Boeing (NYSE:BA) shares took a hit on Tuesday afternoon as investors awaited the outcome of round two in contract negotiations between Boeing and the Society of Professional Engineering Employees in America (SPEEA). The talks, which began on September 8, aim to establish a new contract before the old one expires. This second round follows a previous offer from Boeing that was heavily rejected by SPEEA membership.

The first proposed contract did not meet the demands of SPEEA members, who prioritize higher wage increases. Boeing responded with a noncommittal statement, saying they look forward to reaching a resolution that benefits both employees and the company's competitiveness. However, time is running out as the current contract nears its expiration date.

In other news, Jim Cramer from CNBC suggested that Boeing may not be a good investment until it breaks the $200 a share price point. With shares currently trading at $205.88, investors are closely watching for any sign of movement. Analysts remain optimistic, however, with a Strong Buy consensus rating and an average price target of $274.67 per share.