NEW YORK (TheStreet) -- Shares of Boeing (BA) - Get Report are rising 0.82% to $135.95 this afternoon after the company reported 2016 second quarter earnings before today's market open that beat analysts' expectations.
The company reported a loss of 44 cents per share on revenue of $24.8 billion, outperforming estimates of a 93 cent loss per share and revenue of $24.04 billion for the period. This was the company's first reported loss in seven years.
Also, Boeing said in a regulatory filing today that the company may stop production of its iconic 747 plane, the choice aircraft of U.S. presidents and heads of state, the Wall Street Journal reports.
Since 1970 the company has produced over 1,500 747 jets. The model has survived several industry downturns since its introduction.
However, starting in September Boeing said it would produce just six of the planes per year, including two for the U.S. president. The company reported a $1.2 billion charge on the 747 production program in its earnings release this morning.
Recently the model has become less popular as a passenger aircraft as airlines look toward smaller twin-engine jets.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and good cash flow from operations. TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: BA