Boeing Flies Higher on Sales Results
Shares of Boeing (NYSE:BA) were sent flying to the upside on Monday morning following even more positive sales data. 2013 has been a great year for the company, as well as shareholders, as management has successfully secured substantial order volumes. The international giant booked $100 billion in orders at the opening of the Dubai Airshow. 342 orders were registered representing more than twice the value of those seen by European rival Airbus, whom booked only 142 orders worth some $40 billion. Boeing’s list of sales included an order for 150 of the planned Boeing 777x at a combined price tag of $55.6 billion from the Dubai-based Emirates airline. The aircraft is a larger and more fuel-efficient model of the company’s popular 777 wide-body.
Year after year the Dubai Airshow is seen as an important barometer on the state of the aviation industry. Investors gain a clear perception of company strength as easy comparisons are made throughout the entire space. Boeing’s results came in well above analyst expectations. Analysts whom commented on the results following the airshow were very upbeat on the company’s results. Many had expected roughly half of the sales volume seen from the company.
Following the results shares of the company almost immediately hit the green. At the time of this writing, shares of the company were higher by more than 3 percent to $140 per share. At $140 per share, the company is trading at an all time high valuation and 52-week high. The broader averages reached new highs as well, going into the rest of the week it will be interesting to see if the company can maintain its impressive $100 billion valuation. Year to date shares of the company are higher by 80 percent.
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