NEW YORK (TheStreet) -- Boeing (BA) shares appear ready for a flight higher following the company's announcement that it sold 150 model 777X airplanes to Emirates Airline. The total list price for all of those planes is $56 billion.
On July 7 I wrote, "Dow 30 Higher as Earnings Begin," and in this post I said that Boeing was the weakest of all Dow Jones Industrial Average components. As of July 3, its shares had lost 5.8% since the start of the year.
Although the Emirates Airline order will not affect Boeing's second-quarter results, it should be talked about in the company's forward guidance. The company plans to report quarterly results before the opening bell on July 23.
Analysts expect Boeing to report earnings per share of $2.00. This is up a penny from the estimate shown in my July 7 post. On June 23 the company announced a 73 cent-per-share dividend payable on Sept. 5 to shareholders of record on Aug. 8.
The stock is up 21% over the last 12 months and has a price-to-earnings ratio (based on trailing 12-month earnings) of 17.0. TheStreet Quant Ratings has a buy rating for Boeing.
Let's take a look at Boeing's daily chart:
Courtesy of MetaStock Xenith
Boeing opened at $128.31 this morning but faded to as low as $126.04 as of 10:30 a.m. The stock remains below its 21-day, 50-day and 200-day simple moving averages at $130.26, $131.64 and $129.84, respectively. The green line is the 200-day.