Jim Cramer on Boeing: “Some Are Just Too Tired of the Company’s Missteps”

The Boeing Company (NYSE:BA) is one of the stocks Jim Cramer talked about, along with the memory shortage. Cramer analyzed how government demands impacted the company, as he stated:

On the other hand, though, the defense contractors saw their bottom lines crimped by the president’s efficiency crackdown. He’s demanding quicker results for the Pentagon. Boeing had to take a hit on a big tanker contract where the government wants… more timely product. As CEO, Kelly Ortberg pointed out, “As you know, the Department of War is super focused on us, first of all, making investments to support growth, and also ensuring that we’re delivering on time. And so we took that decision, albeit a big gulp, to have to take a charge here on the tanker program.”

Ouch. It killed the stock. It was down. It would’ve been up big if it weren’t for the charge, but so what? It wasn’t. At the same time, though, Ortberg did credit the president for a hefty increase in Boeing’s backlog. Still, the charge brought out the sellers. Some are just too tired of the company’s missteps. Now, it is a big position for our Charitable Trust. We told club members at our morning meeting… “Stick with the program.”

The Boeing Company (NYSE:BA) designs and builds commercial aircraft, defense systems, satellites, and space technologies, and provides related support and service solutions.

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Disclosure: None. This article is originally published at Insider Monkey.