March 16, 2008 at 1:00 pm by Tom Lydon
The PowerShares Aerospace & Defense (PPA) exchange traded fund (ETF) could benefit from news that Boeing (BA) shares rose Friday. Boeing is a major component in the fund at 6.8%. The company reported orders of 85 more planes this week.
The Associated Press reports that the aircraft maker’s stock rose more than 2% on Friday. These gains contrast the markets’ fall of Bear Stearns, which is getting bailed out by the government and J.P. Morgan Chase. Morgan Stanley upgraded Boeing shares on the news that more orders will boost stock and earnings this year.
PPA could use some help lifting off: it’s down 13.1% year-to-date.
Tags: Aerospace & Defense, Technology
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