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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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January 28, 2015
09:15 EDTBAOn The Fly: Pre-market Movers
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07:33 EDTBABoeing reports Q4 Commercial Airplanes revenue $16.84B, deliveries of 195
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07:32 EDTBABoeing sees FY15 core EPS $8.20-$8.40, consensus $8.64
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07:31 EDTBABoeing reports Q4 core EPS $2.31, consensus $2.11
Reports Q4 revenue $24.47B, consensus $23.93B
January 27, 2015
18:57 EDTBABoeing gets additional order for Poseidon from Pentagon, Bloomberg reports
Boeing's will sell 16 units of its surveillance aircraft model, the P-89A Poseidon, to the U.S. Navy, one more than previously planned, according to the Pentagon's budget documents, Bloomberg reports. The Navy plans to ask for $3.4B for the airplane according to a unnamed source briefed on the spending plans. Reference Link
15:35 EDTBANotable companies reporting before tomorrow's open
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12:36 EDTBAEarnings Preview: Analyst sentiment mixed ahead of Boeing’s Q4 report
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07:10 EDTBABoeing volatility elevated into Q4 and outlook
Boeing January weekly call option implied volatility is at 40, February and March is at 20; compared to its 26-week average of 19 according to Track Data, suggesting large price movement into the expected release of Q4 results on January 28.
January 23, 2015
17:23 EDTBAAmerican Airlines takes delivery of first Boeing 787 Dreamliner
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January 21, 2015
12:48 EDTBABoeing exec sees demand for 737 MAX, 777, despite oil slump, Reuters says
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06:23 EDTBAUnited may switch Boeing 787 Dreamliner order to larger 777-300ERs, WSJ says
United Continental (UAL) is close to a deal to change at least 10 of its Boeing (BA) 787 Dreamliners that are on order to 777-300ER jetliners, which are larger, The Wall Street Journal reports, citing two sources. The deal is in the process of being finalized, the sources say, and would help preserve Boeing's production rates and transition to the 777x. Reference Link
January 20, 2015
13:33 EDTBABoeing selected to build satellite by New York Broadband LLC
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08:21 EDTBAGlobal Eagle to offer connectivity in Boeing 737 airplanes
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January 15, 2015
13:49 EDTBANorthrop Grumman beats out Boeing for missile contract, Reuters reports
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12:05 EDTBABoeing reports orders for 336 more military rescue radios
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09:07 EDTBAAstro-Med reaches deal with Donghai for flight deck printers
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07:19 EDTBABoeing and Air Europa announce order for 14 787-9 Dreamliners
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