Shares of Boeing Co. BA, +4.03% surged 3.5% toward a more than seven-month high in midday trading, reversing an earlier loss of as much as 1.7%, after The Wall Street Journal reported that United Airlines Holdings Inc. UAL, close to ordering “dozens” of Boeing 787 Dreamliners.
The aerospace giant’s stock paced the Dow Jones Industrial Average’s DJIA, +0.10% gainers, with the price gain of $6.06 adding ab out 40 points to the price of the Dow, which was down 98 points, or 0.3%. Citing people familiar with the matter, the WSJ report said an agreement between Boeing and United could be completed as soon as this month, and could be worth billions of dollars in revenue for Boeing. The stock, which was on track for the highest close since April 20, has run up 19.8% over the past three months while the Dow has gained 9.5%.