Boeing Co (BA) braced investors on Wednesday for a rough 2016, forecasting lower-than-expected earnings and fewer plane deliveries largely because of production changes needed to boost output later in the decade, news that sent its stock down sharply. Investors focused on the short-term pain, and sent Boeing stock to its lowest since August 2011. Boeing tumbled 8.9%, its biggest daily decline since October 2001, to close at $116.58 on the New York Stock Exchange. It was the biggest decliner in the Dow Jones Industrial Average. The 737 production cut surprised analysts who had expected Boeing to maintain rates rather than risk losing market share to Airbus. Boeing last week announced a production cut in the 747-8, now mainly a freight aircraft, that it said will keep the line running until retirement of older planes picks up in 2019. Boeing also said Wednesday it would cut 777 output in 2017 as it switches to the upgraded 777X model, due out by 2020. For 2016, Boeing's centenary year, the company expects to deliver 740 to 745 planes, down from a record 762 in 2015. Its forecast for 2016 core earnings of $8.15 and $8.35 per share was well below the average analyst estimate of $9.43. Boeing reported weaker fourth-quarter profit, mainly due to an 84-cent-a-share charge announced last week for slowing production of the 747-8 jumbo. Nothing optimistic for 2016, looks like it is better to sell the rallies. $BA, Boeing Company (The) / 1440