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Tuesday, October 14, 2008
Boeing Strike Takes Toll On Aircraft Parts Suppliers
Christopher Hinton
MarketWatch Pulse
NEW YORK - The machinist strike at Boeing Co. has put "a tremendous strain" on the aerospace industry, forcing original equipment manufacturers to reduce supply orders, said Hal Weinstein, vice president of sales and marketing at Wesco Aircraft Hardware Corp., which supplies the industry with metal fasteners. Manufacturers are forecasting a downward trend in 2009, with industry revenue declining in the range of 9% to 12%, Weinstein said, speaking on a conference call with analysts. At the heart of the slowdown is the long-anticipated Boeing 787, whose first delivery will likely be delayed due to the strike, while longer term, the credit crisis could translate into less air traffic.
Copyright © 2008 MarketWatch, Inc.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
