Boeing Meets Forecasts but Stock Falls 6.1%

Boeing Co. said it delivered 130 commercial jets in the fourth quarter of 2000, boosting its full-year total to 489, in line with previous forecasts by the world’s largest airplane manufacturer. But shares of the Seattle-based aerospace giant fell 6.1% after a Wall Street analyst lowered his rating on the stock. Boeing reiterated its projections for about 530 deliveries each in 2001 and 2002. Boeing’s best-selling 737 narrow-body led the way in 2000 with 279 deliveries, including 70 in the fourth quarter. Boeing shares tumbled after First Union Securities analyst Sam Pearlstein cut his stock rating to “buy” from “strong buy.” Pearlstein cited slowing commercial jet sales, exacerbated by rising labor and fuel costs for airline customers. Boeing shares fell $4 to close at $62 on the New York Stock Exchange.