Boeing And Qantas

Shares of aerospace giant Boeing dropped more 3% after reporting lower revenue numbers in both its commercial aircraft and defense industry units.

The company’s EPS rose to $2.72 per share compared to expectations of $2.66, and revenue was announced at $24.3 billion versus expectations of $23.9 billion.

Boeing also announced that they paid over $2.5 billion to repurchase 11 million shares, which leaves $6.5 billion in its buyback program.

Based on the daily charts, the next relevant support level is near $205.00.

Keeping with the aviation theme, shares of QAN opened 6% lower after CEO Alan Joyce warned that Q2 revenue is likely to slow compared to Q2 last year.

After posting a low of $5.94, shares have rebounded as the details of the current report are supporting new buying.

The company said underlying profits before tax were close to $900 million, and international revenue rose .2% compared to a 6.9% loss in the year-ago quarter.

We had an ALGO engine buy signal on QAN on July 24th at $5.25. We consider QAN a “hold” at these levels and see resistance in the $6.75 area.




Boeing Lifts The Dow In July

The Dow Jones 30 Index posted its 5th consecutive new record high close today at 21,891.

During the month of July, the Index gained 570 points, or 2.6%.

As the chart below illustrates, 310 of those 570 Dow points were generated by one stock: Boeing.

Boeing shares climbed over 24% during the month of July from $197.75 to $246.00. In just the last 5 trading sessions, Boeing shares rose 16% from $212.50 to $246.00.

Since the Dow is a price-weighted Index, a higher point value, or Beta, is assigned to higher priced stocks.


Boeing Soars On Stronger Q4 Earnings

Shares of aerospace giant, Boeing, gained over 6.5% and traded at an all-time high of $168.65 as the firm announced better-than-expected Q4 earnings.

The company reported Q4 earnings of $2.47 per share versus analysts’ estimates of $2.32 per share. On the revenue side, Boeing announced $23.3 billion against expectations of $23.1 billion.

Even though revenue from military orders fell by 18% from the same quarter in 2015, the company still said that it delivered 926 commercial and defence aircraft over the full year.

The company’s outlook for 2017 EPS came in at $9.10 to $9.30, with the top end of this range reflecting a 6% decline from FY 2016 EPS of $9.90 per share.

This lower forward guidance will likely temper further gains beyond the $172.50 level.