What's Going On With Boeing Stock Monday?

Boeing Co (NYSE:BA) shares are moving lower Monday morning. The company launched an offering to raise up to $19 billion.

What Happened: Boeing on Monday announced concurrent separate underwritten public offerings of 90 million shares of common stock and $5 billion in mandatory convertible preferred stock. Based on Friday’s close of $155.01, the common stock offering could raise close to $14 billion.

Boeing said it would grant the underwriters a 30-day option to buy up to 13.5 million additional shares as well as $750 million in additional convertible stock.

The news comes as Boeing battles continued headwinds from an ongoing machinists strike that has reportedly been costing the company roughly $100 million per day. ...