Boeing warned on Thursday that it expected a fourth-quarter loss of about $4 billion to close a year marred by a production quality crisis, stricter regulatory scrutiny, supply chain delays and a crippling strike by U.

Shares of Boeing Co. reversed higher in early Friday trading, and some may wonder why they’re not actually tumbling considering the aerospace giant’s warning of a massive fourth-quarter net loss. That’s because with all of Boeing’s issues,

The machinist strike and Pentagon projects have sapped the manufacturer’s cash flow.