Boeing, GE and Trump’s Middle East trip to remember

President Donald Trump is getting high marks for his diplomacy during his Middle East visit, but it’s his wheeling and dealing for Boeing and GE Aerospace that left investors cheering. Boeing shares tacked on 5.6% this week, while GE added nearly 8% after Qatar Airways announced an order of 210 widebody jets, the largest ever for America’s plane maker, valued at $96 billion, according to the White House. In an expanded deal with Qatar, GE will provide 400 engines to power Boeing’s 777-9 and 787 aircraft. AIR FORCE ONE VS. QATAR'S PLANE GIFT TO TRUMPFor Boeing investors, the deal more than steadies the plane maker, which has been marred by controversy over quality, safety and production lapses. "Let the good times roll," Jefferies analyst Sheila Kahyaoglu wrote in a May 14 research note, reported by Seeking Alpha. "Boeing is largely sold out for the next couple of years and, in some instances, into the end of the decade," she added. TRUMP'S OVERWEIGHT FRIEND HELPED SHAPE POLICY TO CUT DRUG PRICESBoeing CEO Kelly Ortberg, who took over in August and accompanied Trump on his trip, highlighted the deal, which will create 400,000 jobs. "All of these aircraft will be built in the United States, creating a significant number of jobs," Ortberg said. GE Aerospace CEO Larry Culp, who was also on the trip, discussed the specifics of the order as Boeing’s exclusive engine provider.  "Our GE NX, which powers the 787, the fastest-selling high thrust engine in history, and our new 9X will power the 777X, which will be the largest commercial engine in the world" he noted. The majority of analysts are bullish on both stocks, as tracked by ThomsonOne. Of the 29 who cover Boeing, 20 rate the shares a buy or strong buy compared to eight who rate them as a hold and one a sell. GE Aerospace has a similar profile. Nineteen of the 21 analysts rated the shares a buy or strong buy with one sell rating. Both stocks are outperforming the S&P 500, which is now up 1% this year, recovering from tariff-driven volatility. Boeing shares have gained nearly 20% this year. While shares of General Electric, parent of GE Aerospace, have gained 37%. After this blockbuster Qatar deal, the two companies secured $14.5 billion from Abu Dhabi’s Etihad Airways for the 787 and 777X, the White House announced. HOW BOEING BUNGLED AIR FORCE ONE CONTRACTWhile shilling for Boeing, Trump did give the company a jab over its delay of Air Force One, which encouraged the president to accept a gift of a $400 million used 747 jet from Qatar. "They are very late with the plane," Trump told Fox News’ Sean Hannity. During his weeklong trip Trump secured over $2 trillion in deals from Middle East allies. GET FOX BUSINESS ON THE GO BY CLICKING HEREThe White House said that included a "$600 billion investment commitment from Saudi Arabia, a $1.2 trillion economic exchange agreement with Qatar, $243.5 billion in U.S.-Qatar commercial and defense deals and $200 billion in U.S.-United Arab Emirates commercial deals."Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business