Longbow analyst Chris Olin says he believes Arconic (ARNC) could lose up to $400M of previously expected commercial aerospace revenue in CY20. In a research note to investors, Olin, who made no change to his Neutral rating, says recent communications between Boeing (BA) and its main global suppliers suggests the OEM is likely to issue conservative 737 production targets for CY20, starting at 21/month followed by a shift to 28/month. He assumes assume Arconic has $1.6M of revenue content on the MAX platform. Additionally, he says that should CFM International formally lower its LEAP production outlook by 600 engines for CY20 and beyond, it could negatively impact the higher margin business units within Arconic's EP&F segment, including Power & Propulsion.

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Reports Q1 revenue $16.6B, consensus $15.22B. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Dave Calhoun, Boeing president and CEO. "We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future."

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Boeing (BA) is expected to report results on its fiscal first quarter on Wednesday, April 24, with a conference call scheduled for 10:30 am EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here