It's Time to Buy Boeing
A funny thing happened in Wednesday's premarket session. March durable goods came in weaker than expected, with the blame placed squarely on the shoulders of Boeing (BA), which received just 53 aircraft orders for the month, compared with 237 in February. But, just 45 minutes prior to the release, the company reported stronger-than-expected earnings and raised earnings-per-share guidance for the rest of 2012.
Market players ignored the durable-goods divergence straight out of the gate, lifting Boeing shares above a four-month trading range and to a new 10-month high. Meanwhile, the rally printed more than twice the Dow component's average daily volume, telling us the breakout is the real deal, even though this year's market has generated more head-fakes than an NFL running back....624 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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