NEW YORK (TheStreet) -- Shares of Boeing Co. (BA) are up 1.51% to $131.70 in pre-market trade after the aerospace company increased its earnings guidance for the year as its second quarter earnings climbed 52%, supported by continued strong demand for the company's jetliners as well as aggressive cost-cutting, the Wall Street Journal reports.
The company raised its per-share earnings estimate for the year to $7.90 to $8.10 per share, from its earlier view of $7.15 to $7.35.
The increase reflects $408 million in tax benefits, its strong operating performance and a $272 million charge tied to the KC-46A Tanker program, the Journal noted.
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TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."