Market Overview

Boeing Soars After Q2 Beat And Raise

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Boeing Co (NYSE: BA) shares are trading higher by $16.50 (7.7 percent) at $228.96 in Wednesday's session.

The catalyst for the rally is a Q2 EPS beat of 25 cents along with a slight sales miss. The company substantially raised its FY 2017 EPS guidance.

After a $9.00 higher open over its previous all-time high made Tuesday ($214.00), it had only a 46-cent retreat to $223.02 before continuing its move higher. It has continued to make news highs for the day with the current one standing at $230.43 as of 11:15 a.m. EST.

However, it may be running out of buyers at these elevated levels as the stock is struggling to remain in the $230.00 handle.

 

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