The Boeing Company (NYSE:BA) nominates Steve Mollenkopf and Akhil Johri as new directors

The Boeing Company (NYSE:BA) nominates Steve Mollenkopf and Akhil Johri as new directors

The Boeing Company (NYSE:BA) nominates Steve Mollenkopf and Akhil Johri as new directors

The Boeing Company [NYSE: BA] Board of Directors has nominated Steve Mollenkopf and Akhil Johri to be elected as directors at the company’s upcoming annual meeting of shareholders. The board also announced independent directors Edward Liddy and Mike Zafirovski will not stand for re-election and will retire from board service at the meeting.

Mollenkopf, 51, has served as CEO of Qualcomm Incorporated since 2014. He has helped lead the company through the transitions to 3G, 4G and 5G since the beginning of his career as an engineer more than 25 years ago. Johri, 58, served as CFO of United Technologies Corporation from 2015 to 2019. He previously held various executive positions of increasing responsibility over his 31-year career at the company and currently serves as an independent director of Cardinal Health.

“Our announcement today reflects our rigorous succession planning, which ensures we maintain the right balance of skills and experience to effectively govern the company,” said Boeing Chairman Larry Kellner. “We are pleased to welcome Steve and Akhil to the Boeing Board. They are proven leaders at complex, global enterprises and together will bring significant additional safety, engineering, software and financial experience to our board. I also thank our two retiring directors, who have provided leadership and exemplary service to the board. Ed has reached the board’s mandatory retirement age, and Mike has decided not to stand for re-election after 15 years on our board.”

“Serving alongside Ed and Mike on the Boeing Board has been a privilege,” said Boeing President and CEO David Calhoun. “I look forward to benefiting from Steve’s strong leadership skills and deep experience in developing, testing and deploying technologies at scale, and from Akhil’s world-class financial expertise, particularly in relation to the manufacturing of aerospace systems.”

“I am honored to be nominated as a director of Boeing and look forward to the opportunity to work with the board and the executive team,” said Mollenkopf.

“Boeing has a respected history of delivering on its commitments to stakeholders, and I look forward to supporting the continuation of that track record as a member of its board,” said Johri.

Steve Mollenkopf

Steve Mollenkopf is CEO of Qualcomm Incorporated and serves on the company’s board of directors. Since becoming CEO in 2014, Mollenkopf has led the company through the development of 5G and brought the benefits of mobile technologies to new industries through an increasingly diverse product portfolio. Previously, Mollenkopf served as Qualcomm’s president and COO, a role which oversaw Qualcomm’s investment in technologies that propelled smartphones into the mainstream. Prior to his role as president and COO, Mollenkopf led the company’s chipset business, overseeing the launch of 4G technology. He helped make Qualcomm the world’s largest mobile chipset supplier and a global leader in LTE technology. He holds a bachelor’s degree in electrical engineering from Virginia Tech and a master’s degree in electrical engineering from the University of Michigan.

Akhil Johri

Akhil Johri served as executive vice president and CFO of United Technologies Corporation from January 1, 2015 to November 1, 2019. Johri returned to United Technologies in 2015 after serving as CFO for Pall Corporation, a publicly traded leader in filtration, separation and purification solutions. Prior to joining Pall Corporation, Johri spent 26 years at United Technologies in various executive positions of increasing responsibility. Prior to his role as CFO, Johri was vice president of finance and CFO for UTC Propulsion & Aerospace Systems, which included Pratt & Whitney and UTC Aerospace Systems. Before that, he led UTC’s Investor Relations and Financial Planning & Analysis groups. Johri also had senior financial roles at UTC Fire & Security and Carrier Corporation, including 12 years in the Asia Pacific region. Johri also serves as an independent director on the board of Cardinal Health, Inc.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 334.35.

The projected lower bound is: 300.25.

The projected closing price is: 317.30.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 3 falling windows in the last 50 candles–this makes the current falling window even more bearish. The two candles preceding the falling window were black, which makes this pattern even more bearish.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 4.9323. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 38.19. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 21 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -162.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.

Rex Takasugi – TD Profile

BOEING CO closed down -12.480 at 317.900. Volume was 35% above average (neutral) and Bollinger Bands were 9% wider than normal.

Open     High      Low     Close     Volume___
320.000 321.730 316.380 317.900 1,504,984
Technical Outlook 
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 338.16 330.67 350.91
Volatility: 29 33 34
Volume: 878,351 1,309,210 932,345

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BOEING CO gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
BOEING CO is currently 9.4% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BA.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BA.N and have had this outlook for the last 12 periods.

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