Boeing (BA) NewsBite - BA Falls on Disappointing Q2 Revenue

Posted on Wednesday, July 23, 2008 11:26 AM

Boeing (BA) opened at $67.25. So far today the stock has hit a low of $65.62 and a high of $68. BA is now trading at $66.98, down 2.28 (-3.29%). After hitting a one-year high of $107.83 last July, the stock hit a one-year low of $62.02 last week. BA shares are declining today after the company reported a second-quarter profit of $852 million, or $1.16 per share. BA's adjusted profit of $1.38 per share beat analyst estimates of $1.23 per share, but its revenue of $17 billion fell short of analysts' expected revenue of $17.24 billion. Technical indicators for BA are bearish and deteriorating, while S&P gives the stock a bullish 4 Stars (out of 5) Buy rating. For a hedged play on this stock, consider a September bear-call spread above the $75 range. BA hasn't been above 75 since taking a dive in June. The stock could gaine up to 12.0% and this trade would still be profitable. [LHF- Seven Summits Strategic Investments NewsBite]