Fuel-Efficient Planes in Order: Boeing Making Deals with FedEx and Southwest

It’s raining orders for Boeing (NYSE:BA). Fresh from the large orders it scooped last month in Asia Pacific, Boeing will reportedly receive an order from FedEx Corp (NYSE:FDX) for 20 wide-bodied 767 freighters. The order, valued at about $5.26 billion, will help replace FedEx’s older and less fuel-efficient jets.

Each 767 costs about $175.4 million, and may help FedEx to cut fuel costs – these rose almost 40% in the last quarter ending August 31. Apparently, Airbus SAS has lost out on the deal with talks having ended. Boeing had a 767 order backlog of 46 planes as of October’s end.

Boeing may also be nearing conclusion of a deal with Southwest Airlines Co. (NYSE:LUV) for supplying 100 737 MAX jetliners, which are the existing 737s upgraded with bigger, more fuel-efficient engines, and scheduled to enter service in 2017.

Here’s how these stocks are trading on the news:

Boeing Co. (NYSE:BA): BA shares recently traded at $70.78, up $0.18, or 0.25%. They have traded in a 52-week range of $56.01 to $80.65. Volume today was 1,373,483 shares versus a 3-month average volume of 5,974,210 shares. The company’s trailing P/E is 14.00, while trailing earnings are $5.05 per share. Get the most recent company news and stock data here >>

FedEx Corporation (NYSE:FDX): FDX shares recently traded at $84.23, up $0.04, or 0.05%. They have traded in a 52-week range of $64.07 to $98.66. Volume today was 627,255 shares versus a 3-month average volume of 2,910,660 shares. The company’s trailing P/E is 17.44, while trailing earnings are $4.83 per share. Get the most recent company news and stock data here >>

Southwest Airlines Co. (NYSE:LUV): LUV shares recently traded at $8.45, down $0.13, or 1.52%. They have traded in a 52-week range of $7.15 to $13.59. Volume today was 1,246,443 shares versus a 3-month average volume of 10,006,600 shares. The company’s trailing P/E is 43.11, while trailing earnings are $0.20 per share. Get the most recent company news and stock data here >>