Boeing announced a stock offering on Monday expected to raise up to $19 billion, saying proceeds will go towards repaying debt and investing in its subsidiaries.The aviation giant’s move comes after it reported a whopping $6.2 billion quarterly loss last week in the wake of a paralyzing labor strike.The securities are expected to help the embattled company navigate a precarious financial situation without imminent threat of a credit rating downgrade.Boeing did not specify the timing of the offering, but said it will sell 90 million shares of common stock — valued at around $13.9 billion at current market prices — in addition to $5 billion in depositary shares.”Boeing intends to use the net proceeds from the offerings for general corporate purposes,” the company said in a statement.These include, “repayment of debt, additions to working capital, capital expenditures, and funding and investments in the company’s subsidiaries,” it added.  If oversubscribed, Boeing could potentially sell additional securities worth as much as $3 billion more for a total of $22 billion.The offering comes as Boeing faces myriad problems following safety lapses on commercial planes, problem-filled space projects and cost-overruns on defense contracts. The company is on track for its sixth straight annual loss.During an October 23 earnings conference call, Chief Executive Kelly Ortberg, who joined Boeing only in August, outlined steps to improve the company culture and streamline its mission, telling analysts Boeing should be “doing less and doing it better than doing more and not doing it well.” But Ortberg’s plans hit another stumbling point later that night when a machinist union voted down Boeing’s latest contract offer, extending a walkout of some 33,000 US workers that has shuttered major assembly plants in the Seattle region since mid-September.Boeing faces a continued cash crunch until the strike is resolved and it manages to ramp production back up. Even before the strike, Boeing had been forced to limit output of the 737 MAX under a federal order after an incident in January in which an Alaska Airlines jet made an emergency landing after suffering the blowout of a fuselage panel.”The approximate $19 billion in cash to be raised likely keeps them investment grade through the end of 2025 based on what we know today,” Third Bridge analyst Peter McNally said Monday.McNally pointed to comments from Boeing last week that were more optimistic about cash flow in the second half of 2025. But since that time, the machinist union voted to extend the strike.”The situation remains dynamic,” McNally said.- Bruising strike -Since Ortberg’s arrival, the company has announced measures to strengthen its cash position including a 10 percent reduction in its global workforce, amounting to around 17,000 positions cut.It is also considering the possibility of selling its space business, which includes its problem-plagued Starliner vehicle, according to a report in the Wall Street Journal on Friday.Meanwhile, the strike by Boeing workers has continued after union members rejected a new contract offer on Wednesday.Almost two-thirds (64 percent) of the members of the International Association of Machinists and Aerospace Workers District 751 rejected the preliminary agreement, prolonging the walkout of thousands of Seattle-region employees.The latest Boeing contract offer included a 35 percent pay rise over four years and a one-time signing bonus of $7,000. However, the deal did not restore a company pension axed a decade ago, a major sticking point for older workers.The strike has halted activity at two factories that assemble the 737 MAX and 777, costing an estimated $7.6 billion in direct losses — including at least $4.35 billion for Boeing and almost $2 billion for its suppliers, according to the Anderson Economic Group consultancy.The offering announced Monday addresses “a timing issue” in terms of cash that has been exacerbated by the latest union vote, said Cai Von Rumohr, an analyst at TD Cowen.Shares of Boeing fell one percent in afternoon trading.

Global stocks diverged and oil prices tumbled on Monday as markets were relieved that Israel’s strikes on Iran had avoided the country’s energy infrastructure.Israel avoided Iran’s oil and nuclear facilities in its air strikes on the country on Saturday, easing investor fears about the extent of Israel’s retaliation to Tehran’s October 1 missile barrage.Iran has downplayed the attack, saying it caused “limited damage” to a few radar systems on military sites.”Investors breathed a sigh of relief as the attack was more restrained than expected,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.Brent North Sea crude, the international benchmark oil contract, fell around six percent on Monday morning with prices hovering around $71 per barrel. “Israel’s strike, carefully avoiding energy sites, has softened fears of a full-scale conflict with Iran,” said Stephen Innes, analyst at SPI Asset Management.”Even more telling is Iran’s response, downplaying the attack’s impact and signaling that its warnings may have deterred any more aggressive action from Israel,” he added.Concerns have shifted back to focus on oversupply in 2025 and a slowdown in demand from China, the world’s largest oil importer, according to analysts.London’s FTSE 100 retreated as crude prices affected both ends of the top-tier index.Oil and gas giants BP and Shell were both hit by the lower crude prices, making them the biggest fallers.Meanwhile airlines easyJet and British Airways-owner IAG led gains on the prospect of lower fuel prices. In the eurozone, Paris advanced and Frankfurt retreated. Dutch medical device maker Philips lowered its full year sales target Monday blaming a deterioration in demand from China, with its share price dropping more than 11 percent on the Amsterdam stock exchange’s blue-chip AEX index.Investors are preparing for a busy week ahead, including the release of key US monthly jobs figures on Friday which could provide more clues about future Federal Reserve interest rate cuts. It’s also a big week for US company earnings as five of the “Magnificent Seven” tech stocks will report third-quarter results, including Alphabet (Google), Amazon, Apple, Meta (Facebook) and Microsoft.”The market expects the US tech giants to continue to report double digit earnings growth for the next five quarters, so there are some big expectations for these companies,” said Kathleen Brooks, research director at trading group XTB.On currency markets the yen hit a three-month low, sliding more than one percent against the dollar as Japan’s ruling coalition looked set to lose its majority after Sunday’s general election.Tokyo led gains on Asian markets, closing up 1.8 percent as the yen’s weakness boosted Japanese shares, with exporters benefiting from a cheaper currency.Shanghai also rose while Hong Kong was flat. In India, Mumbai stocks were up 1.1 percent, with shares in solar panel maker Waaree Energies soaring 75 percent on their market debut. – Key figures around 1100 GMT -Brent North Sea Crude: DOWN 5.7 percent at $71.29 per barrelWest Texas Intermediate: DOWN 6.1 percent at $67.43 per barrelLondon – FTSE 100: DOWN 0.2 percent at 8,231.38Paris – CAC 40: UP 0.2 percent at 7,509.94Frankfurt – DAX: DOWN 0.2 at 19,425.18Tokyo – Nikkei 225: UP 1.8 percent at 38,605.53 (close)Hong Kong – Hang Seng Index: FLAT at 20,599.36 (close)Shanghai – Composite: UP 0.7 percent at 3,322.20 (close)New York – Dow: DOWN 0.6 percent at 42,114.40 (close)Euro/dollar: UP at $1.0819 from $1.0799 on FridayPound/dollar: UP at $1.2984 from $1.2958Dollar/yen: UP at 152.53 yen from 152.27 yenEuro/pound: UP at 83.35 pence from 83.30 pence