Boeing (BA) - Get Report posted weaker-than-expected first quarter earnings Wednesday, April 24, 2019, and pulled its earnings guidance for the rest of the year until it has clarity on the fate of its 737 MAX program following the grounding of the flagship aircraft following two fatal crashes in six months.
And while Boeing is well below the all time highs, if there is some good news we could see a nice pop in the stock. That's according Chris Versace and Bob Lang, co-portfolio managers of Real Money's Trifecta Stocks
Boeing Earnings: What to Watch
Fundamentally, Versace and Lang will be looking for their guidance for the remainder of 2019, which its last quarter was quite robust. If there is any indication of some cancellations, the stock could take a hit.
Further, they'll be watching for some timing on fixing the issue with the 737 Max, the heart of the problem for Boeing.
Technically, the stock is still holding up strong, the 350 area being a level of support where the institutions are still buying.
That is an important level and if broken could trigger a waterfall of selling, but we don't believe that to be the case.
In March 2019, Versace and Lang added the stock to our Trifecta portfolio, believing it will drive performance for them and for the rest of the stock market. They are quite bullish on Boeing will look for more opportunities to add more of the name.
Watch the video above with Bob Lang and Chris Versace, co-portfolio managers of Real Money's Trifecta Stocks. They tell us why it's all about the numbers and guidance for Boeing!