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Boeing, 787 Dreamliner Flying High — Wednesday’s IP Market Recap

Boeing has a doubly good day with 787, earnings


Between a screaming third-quarter earnings report and the successful completion of a major (and literal) product launch, Wednesday was a pretty good day to be Boeing (NYSE:BA) – and it wasn’t too shabby to be a Boeing investor or a passenger, for that matter.

The United States’ foremost aircraft carrier wowed Wall Street on Wednesday by reporting third-quarter earnings per share of $1.46 on net income of $1.1 billion, blowing by Thomson Reuters estimates of $1.10 per share and trumping the year-ago quarter’s $1.12 per share.

The good vibes were so strong they couldn’t be contained in Q3, and Boeing upped full-year guidance from $3.90-$4.10 per share to $4.30-$4.40 per share, putting it slightly above analysts’ expectations for $4.27. BA stock responded with a nearly 4.5% jump to end the day at $66.56.

Also buoying Boeing’s optimism was the launch of its 787 Dreamliner — the first flight, conducted by All Nippon Airways, departed from Tokyo’s Narita Airport and landed in Hong Kong about three hours later. The Dreamliner is the first commercial jet to be built with lightweight composite material rather than aluminum — an attractive feature to many cash-strapped airlines, as the material is expected to make the 787s 20% more fuel efficient than similarly sized planes made of aluminum.

United Continental’s (NYSE:UAL) United Airlines will carry out the inaugural American launch of the 787 Dreamliner in 2012, from Houston to New Zealand.

Also Wednesday, Amazon (NASDAQ:AMZN) bears finished what they started after the bell Tuesday by sending AMZN down 12.66% to $198.40. A third-quarter earnings missed and weak guidance for 4Q had Amazon stock falling to below the $200 mark for the first time since August.

Three Up

  • Panera Bread Company (NASDAQ:PNRA): Up 15.49% ($17.92) to $133.64.
  • Valero Energy (NYSE:VLO): Up 15.16% ($3.31) to $25.15.
  • Express Scripts (NASDAQ:ESRX): Up 13.49% ($5.19) to $43.66.

Three Down

  • Radioshack (NYSE:RSH): Down 12.1% ($1.61) to $11.70.
  • Sodastream International (NASDAQ:SODA): Down 8.25% ($2.62) to $29.15.
  • Research In Motion (NASDAQ:RIMM): Down 6.96% ($1.55) to $20.72.

As of this writing, Kyle Woodley did not own a position in any of the aforementioned stocks. Check out recaps from previous trading days here.

Article printed from InvestorPlace Media,

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