Boeing (BA.US) stock rose 0.50% in premarket after the aerospace company reported an adjusted quarterly loss of 60 cents per share, while analysts expected a loss of 20 cents per share. Revenue rose 8.2% from last year to $15.3 billion, well below market expectations of $16.3 billion. Boeing did report better than expected free cash flow, however warned that charges linked to its delayed 787 Dreamliner could reach $1 billion.
"We are driving stability across our operations, investing in our future and positioning our teams to deliver for our customers as the market recovers," said CEO David Calhoun. "Commercial market demand continues to gain traction with broad-based vaccine distribution and border protocols beginning to open. Going forward, supply chain capacity and global trade will be key drivers of our industry and the broader economy's recovery."
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Boeing (BA.US) stock remains near the lower limit of the triangle formation. Source:xStation5
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