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The Boeing Company

5/24/2013, 3:21 AM ET

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Thursday, May 23, 2:07 PM Boeing (BA +1.7%) updates its Orders and Deliveries page for the week, saying that since its last update it has received 107 new orders consisting of six 777s and 101 737s. In the Changes category, it reduced 737 net orders by 24. Additionally, the company says that Chinese regulators have cleared local airlines to fly the 787 Dreamliner, and are expected to allow them to launch overseas flights within a matter of months. Comment! [On the Move, Global & FX, Consumer]
Wednesday, May 22, 9:56 AM Boeing (BA +0.2%) says it plans to return 80% of its free cash flow to shareholders via dividends and buybacks. Earlier this month both Sterne Agee and Soc Gen cited the company's cash generation potential as a factor in price target hikes, with Soc Gen's Zafar Khan noting that share repurchases and dividend increases should be well-supported in the medium term. (See also: NOC to reduce share count) 2 Comments
Monday, May 20, 7:38 AM The 787 Dreamliner is back in the air in the U.S. as the CEOs of Boeing (BA) and United Airlines (UAL) fly with 250 other passengers from Houston to Chicago aboard the jet. 3 Comments
Sunday, May 19, 7:48 PM Among those apparently not worried about the fate of the 787 Dreamliner during the first quarter were hedge funds. All told, hedgies spent $1.6B during Q1 buying shares of Boeing (BA), FactSet says. (Also: 787 deliveries begin anew) 4 Comments
Tuesday, May 14, 9:06 PM Boeing (BA) officially resumes deliveries of the 787, the latest step towards putting the lithium-ion battery fiasco in the rearview. The first delivery since January 16 was made to All Nippon Airways Tuesday and the company says it still expects to deliver 60 of the planes this year. Profit margins may be pinched in the interim however, as the planes now making their way to customers are also some of the earlier jets, which cost more to produce and were discounted to lull buyers, Reuters notes. 2 Comments
Monday, May 13, 11:17 AM Boeing (BA +0.9%) lifts higher as Sterne Agee ups its price on the shares to $120 from $100. The firm says that with the Dreamliner fiasco largely behind them, its free cash flow could top $18B over the next three years. The stock has typically traded at a 10-12 multiple to free cash flow, so with book-to-bill for the commercial aircraft sector staying above 1 at least through next year it sees the stock moving "towards the peak in the cycle." 2 Comments [On the Move]
Friday, May 10, 8:01 AM The outlook for Boeing (BA) has improved according to Soc Gen's Zafar Khan who upgrades the shares to Hold from Sell and raises his price target to $94 from $86. The stock still has some "catching up" to do with its civil peers but solid Q1 results and a resolution to the 787 battery problem point to "strong cash generation in the medium term [which should] support the buyback program as well as dividend increases," Khan notes. 4 Comments
Thursday, May 9, 1:40 PM Boeing (BA +0.8%) rolls out the first 787 Dreamliner to be produced at its new seven-per-month rate, with a targeted monthly output of 10 by year's end. The latest aircraft is due to be delivered to British Airways. To date, 50 Dreamliners have been delivered to eight airlines. The program has more than 800 unfilled orders with 58 customers worldwide. Separately, SocGen has upped the shares to a Hold today as well. 1 Comment [On the Move, Consumer]
Monday, May 6, 12:49 PM Dreamliner delays may benefit Airbus (EADSF.PK +0.8%) to the tune of $3.6B, as Qatar Airways CEO Akbar al Baker announces the airline is in talks to purchase 15 A330s "to fill in the gap that the [787] delays have caused," Reuters says. Qatar missed $200M in revenue due to the 787 grounding and indicates it has been compensated: "We have spoken to [Boeing]. We are done." The deal with Airbus is expected to be finalized in the coming months and underscores the knock-on benefits (I, II) Airbus has received in the wake of BA's 787 woes. Comment!
Tuesday, April 30, 6:18 AM The Boeing Company (BA) declares $0.485/share quarterly dividend, in line with previous. Forward yield 2.11%. For shareholders of record May 10. Payable June 07. Ex-div date May 08. (PR) Comment! [Dividends]
Monday, April 29, 4:12 PM As the first Dreamliner returns to flight, a number of other global airlines appear to be following suit. Latam Airlines (LFL -2.5%) expects its Boeing (BA -1%) 787 Dreamliners to return to operations in June, while China's aviation regulator will likely grant approval next month for the aircraft to begin commercial service with the nation's airlines. The first Dreamliner was due to be delivered to China Southern and Hainan Airlines last year, but the delivery was held up because Chinese authorities hadn't issued an airworthiness certificate for the aircraft. Comment! [Global & FX]
Sunday, April 28, 3:41 AM All Nippon Airways (ANA), Boeing's (BA) largest 787 customer with 17 Dreamliners, has safely carried out a two-hour test flight of the jet with its modified battery system. However, while Ethiopian Airlines has already flown the plane commercially, ANA intends to conduct at least 230 test flights before allowing customer back on in June. Fellow carrier Japan Airlines plans to carry out its first 787 test flight next month. 3 Comments [Consumer]
Saturday, April 27, 11:39 AM The Boeing (BA) 787 Dreamliner officially returns to the skies. Ethiopian Airlines flight 801 left Addis Ababa at 11 a.m. (local time) this morning and safely landed in Nairobi, Kenya at 12:38. 6 Comments [Breaking News]
Friday, April 26, 4:42 PM Defense companies post strong gains on the week after reports from Raytheon (earnings), Lockheed Martin (earnings), Boeing (earnings), General Dynamics (earnings), and Northrop Grumman (earnings). In a note raising his price target on RTN ($63), Credit Suisse analyst Robert Spinarn summarizes the sector's strong quarterly results: "RTN's Q1 mirrored that of its peers, with a strong EPS beat against consensus, driven by sales and margins [and] in keeping with what we've seen at GD, LMT, and NOC, RTN's FY guidance now incorporates its assessment of the Sequester." On the week: LMT +2.49% , RTN +5% , NOC +4.4% , BA +5.2% , GD +8.89%. Comment!
Friday, April 26, 4:09 AM Japan's Ministry of Transport plans to officially lift the ban on commercial flights of Boeing (BA) 787s after the FAA officially signs off on the resumption of operations, which is expected later today. Japanese officials will ask Japan Airlines and All Nippon Airways to carry out extra safety measures over and above those requested by the FAA, including the remote monitoring of battery data. Ethiopian Airlines will reportedly become the world's first airline to resume 787 operations tomorrow. 1 Comment [Consumer, Top Stories]
Thursday, April 25, 9:46 AM The FAA publishes a new rule for the 787 Dreamliner's lithium-ion batteries and says it will cost an estimated $2.8M to make the necessary modifications at United Airlines (UAL -0.3%). 1 Comment

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