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Why Airbus Stock Popped Thursday
What's bad news for Boeing is necessarily good news for Airbus.
Airbus (OTC: EADSY) stock rose strongly on Thursday to close the day up 3.7%, on some disturbing news for a competitor. Over in England, the British Competition and Markets Authority is reportedly looking into Boeing's plan to (re-)acquire Spirit AeroSystems... with an eye to forbidding it.
Image source: Getty Images.
Once upon a time, Spirit was part of Boeing. But in 2005, Boeing spun off Spirit in a move designed to boost profits. That didn't work out as planned, however, so roughly one year ago, Boeing announced it would buy back its former fuselage manufacturing subsidiary for $4.7 billion.
