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July 22, 2014
13:48 EDTBAEarnings Preview: Boeing shares flat since Q1 earnings report
The Boeing Company (BA) is expected to report second quarter earnings on Wednesday, July 23 before the market open with a conference call scheduled for 10:30 am ET. Boeing is a diversified aerospace company. EXPECTATIONS: Analysts are looking for earnings per share of $2.01 on revenue of $22.33B, according to First Call. The consensus range for EPS is $1.88-$2.24 on revenue of $21.68B-$23.12B. LAST QUARTER: Boeing reported first quarter core EPS of $1.76 against estimates for $1.56 on revenue of $20.46B against estimates for $20.19B. The company raised its FY14 core EPS view to $7.15-$7.35, from $7.00-$7.20 to reflect the benefit of a tax settlement to be recognized in Q2, compared to consensus of $7.38. It forecast FY14 revenue of $87.5B-$90.5B, versus consensus of $89.92B. Boeing reported a backlog of $440B at Q1-end, and continues to see FY14 commercial deliveries of 715-725. For FY14, the company expects a book-to-build ratio above 1. On May 21 at its Investor Day meeting, Boeing reported a Commercial airplanes backlog of $374B, and a Defense backlog of $67B, with approximately 30% of that being international. CEO Jim McNerney said there were "significant" opportunities ahead to add to the backlog, and the Boeing 787-9 was on track for a mid-year delivery. ANALYST REACTION: Street research has been mostly positive in the weeks leading up to Boeing's Q2 report. On May 2, Argus raised their price target on Boeing to $161 from $150 after the company reported higher than expected Q1 EPS. The firm kept a Buy rating on the stock. On May 5, CRT Capital raised their price target on Boeing to $165 from $148 and increased estimates to reflect stronger than expected Q1 earnings, operating margin improvements and buybacks. Shares were Buy rated. On June 11, RBC Capital downgraded Boeing to Sector Perform from Outperform due to valuation and maintained its $145 price target. PRICE ACTION: Boeing’s shares are trading at essentially the same levels they did prior to the company's Q1 results. In afternoon trading ahead of Wednesday's Q2 report, Boeing’s shares are up about 0.6% to $129.20.
News For BA From The Last 14 Days
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November 24, 2015
05:32 EDTBABoeing and BOC Aviation announce order for 22 737s
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05:27 EDTBABoeing, EVA Airways finalize commercial airplane purchase
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November 23, 2015
17:47 EDTBABoeing awarded $261.98M government contract
Boeing has been awarded a $261.98M firm-fixed-price, undefinitized contract action for delivery order to previously awarded contract FA8213-15-D-0002 for lot 19 Joint Direct Attack Munition, or JDAM, tailkits. Contractor will provide JDAM strap-on inertial guidance kits with the capability to receive guidance updates from Global Positioning Systems to increase weapon accuracy for conventional inventory bombs. Work will be performed at St. Louis, Missouri, and is expected to be complete by Nov. 20, 2017. Fiscal 2014, 2015 and 2016 ammunition funds in the amount of $13.28M are being obligated at the time of award. Air Force Life Cycle Management Center, Hill Air Force Base, Utah, is the contracting activity.
16:21 EDTBAAerojet Rocketdyne signs contract to support new era of spaceflight in U.S.
Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings (AJRD), has signed a contract with Boeing (BA) valued at nearly $200M that supports a new era of spaceflight - one that will carry humans to the International Space Station from American soil once again. Under its Commercial Crew Transportation Capability subcontract to Boeing, Aerojet Rocketdyne is completing the design, development, qualification, certification and initial production of the Crew Space Transportation, or CST,-100 "Starliner" service module propulsion system. A CST-100 Starliner partner and team member since 2010, Aerojet Rocketdyne's work continues the development of the service module and launch abort propulsion system from prior commercial crew contracts with Boeing.
November 22, 2015
18:29 EDTBADelta CEO says Boeing offered used 777s for $10M, Bloomberg reports
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November 17, 2015
07:44 EDTBAInterest rate increases usually a bullish signal for Boeing, says Canaccord
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November 16, 2015
19:40 EDTBALockheed Martin-Boeing JV won't bid for next U.S. satellite launch, Reuters says
Lockheed Martin (LMT) and Boeing's (BA) joint venture won't bid for the next U.S. GPS satellite launch due to the structure of the competition and because the venture didn't have engines for its Atlas 5 rocket. Reference Link
13:17 EDTBABoeing forecasts $350B market for new airplanes in Latin America
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12:02 EDTBABoeing Business Jets announces four new BBJ MAX 8 orders
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November 12, 2015
17:32 EDTBABoeing awarded $101.59M government contract modification
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12:02 EDTBANorthrop's U.S. bomber work halted after rivals protest, Reuters says
Work on a long-range strike bomber contract to Northrop Grumman (NOC) has been put on hold after Boeing (BA) and Lockheed Martin (LMT) contested the selection process, Reuters reports, citing a U.S. Air Force spokesman. The spokesman added that the order to halt work was issued after a formal protest was filed November 6, the report says. Reference Link
November 11, 2015
06:20 EDTBABoeing abandons BNK as 737 jetliner supplier, Reuters says
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