Boeing (BA) is delaying the test flight of its 787 Dreamliner and adding R&D money to try to keep the launch on track.
With a substantial part of Boeing pipeline relying on the new aircraft can’t afford another slip. According to BusinessWeek: "Boeing raised its 2007 profit forecast to $4.80 to $4.95 per share, from $4.55 to $4.75". If the debut of the Dreamliner moves into October or later, Boeing’s EPS could take a hit.
Boeing’s stock has moved up as the 787 has taken orders from Airbus and the 747-8 has made inroads in the super-jumbo segment. The progress has kept expectations for the company unusually high.
Boeing’s share are up 17% this year, and with the market trading off, the mega-cap stock would usually be considered a "safe haven" investment.
That is, of course, if it can get its products out on time.
Douglas A. McIntyre
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