Boeing (BA.US) reported Q2 results ahead of the Wall Street session open today. Revenue came in at $11.8 billion (exp. $12.99 billion) while loss per share turned out to be $4.79 (exp -$2.39). The US planemaker had an Q2 operating cash burn of $5.3 billion (exp. -$6.6 billion). Company decided to deepen 787 production cuts to 6 planes per month in 2021. Q2 deliveries stood at 20 against expected 24. On top of that, Boeing announced that it will terminate its share buyback programme and take other actions, including reducing employment. Poor report is likely to be a drag on Boeing's share price during today's session.
Boeing (BA.US) has been trading in a descending triangle pattern and poor Q2 earnings report creates a risk of dropping below support at $167.50. Source: xStation5
Morning Wrap: Record-breaking Big Tech results driven by AI, Fed delivers no surprises
Amazon begins 2026 with solid results, but the market is focused on the pace of AI monetization!
AI and Cloud push Alphabet into a new phase of growth
Amazon under pressure from expectations despite very strong results!