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Stock Market & Financial Investment News

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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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July 1, 2015
07:23 EDTBAExport/Import Bank fate won't signficantly impact Boeing, says Wells Fargo
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June 30, 2015
17:28 EDTBABoeing awarded $358.94M government contract
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10:01 EDTBABoeing, Embraer to collaborate on ecoDemonstrator technology tests
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June 28, 2015
15:16 EDTBAIncoming Boeing CEO to address 'looming' China challenge, WSJ says
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13:23 EDTBABoeing shares 'will soar' under new CEO, Barron's says
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June 26, 2015
16:32 EDTBAStocks end week lower with Greece still searching for deal
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07:26 EDTBASRA International exploring sale or IPO, Reuters reports
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June 25, 2015
05:53 EDTBABoeing CEO Muilenburg prioritizes cost cutting challenges, Financial Times says
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June 24, 2015
16:57 EDTBABoeing to slow 747-8 production to one per month in March, Reuters says
Boeing will slow its production of the 747-8 jumbo jet to 1 per month beginning in March, a decrease of 23%, reports Reuters. The decision to slow production was not related to the company's CEO transition, Reuters added, citing the company. Reference Link
16:21 EDTBAOn The Fly: Top stock stories for Wednesday
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12:30 EDTBAOn The Fly: Top stock stories at midday
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07:32 EDTBANew Boeing CEO Muilenburg to inherit tough decisions, Bloomberg says
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June 23, 2015
19:03 EDTBAOn The Fly: After Hours Movers
UP AFTER PROVIDING GUIDANCE: MeetMe (MEET), up 18.8%. ALSO HIGHER: Nektar Therapeutics (NKTR), up 4.3% after being added to S&P 600... Quidel (QDEL), up 5% after receiving FDA clearance for new Solana molecular system and assay... Vanda Pharmaceuticals (VNDA), up 4.6% after announcing positive results from REPRIEVE study... Netflix (NFLX), up 3.4% after announcing seven-for-one stock split. LOWER: Alcobra (ADHD), down 2.5% after announcing that it will host a conference call and simultaneous webcast presentation to present results from the Phase II clinical trial of MDX... Sysco (SYY), down 2.6% after bid for U.S. foods blocked was blocked by a federal judge... Boeing (BA), down marginally after announcing CEO transition.
17:40 EDTBABoeing incoming CEO Muilenburg says must deliver on 777 bridge program
Regarding the appointment of Dennis Muilenburg as Boeing CEO, outgoing CEO James McNerney says, "in many ways, there's not going to be a change." Muilenburg noted that the current defense market is more "challenging," and that the company needs to deliver on its 777 bridge program. Muilenburg added that the company's backlog remains "solid." Both executives are speaking on CNBC.
16:32 EDTBABoeing names Dennis Muilenburg CEO
The Boeing board has elected Dennis Muilenburg as the company's CEO, succeeding W. James McNerney, Jr., who held the position for the past 10 years. Muilenburg, who has served as Boeing president and COO since 2013, becomes president and CEO on July 1. McNerney, who joined Boeing's board in 2001, continues as its chairman. To ensure a smooth transition of his CEO responsibilities to Muilenburg, he will continue working as a company employee until retiring at the end of February 2016.
13:15 EDTBABoeing sued over claims of toxic airplane cabin air, Chicago Tribune says
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June 22, 2015
06:18 EDTBASuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
June 19, 2015
11:00 EDTBABoeing ecoDemonstrator 757 expands testing to next phase
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07:00 EDTBAGE Capital Aviation Services launches Boeing 737-800NG program
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05:13 EDTBABoeing, Enter Air announce order for four 737s
Boeing and Enter Air have announced an order for two 737 MAX 8s and two Next-Generation 737-800s. The order, worth more than $400M at current list prices and previously attributed to an unidentified customer, is the first direct order for Boeing from the Polish charter carrier.
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