Boeing shares are falling Monday after the announcement late last week that the company will delay delivery of new KC-46 tankers to the U.S. military. Boeing was supposed to deliver 18 KC-46 tankers by August 2017, but now that won’t happen until early 2018. Analysts say the announcement was a surprise since Boeing seemed confident about its ability to deliver just three weeks ago at its annual investor day. The $40 billion program is already more than $1 billion over budget, according to analysts at Canaccord Genuity, which have a hold rating on the stock.
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