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Boeing Higher on Positive Earnings; Aerospace ETFs Benefit
By ETF Channel Staff, Wednesday, October 20, 10:39 AM ET
Boeing (NYSE:BA) posted third quarter earnings that exceeded analyst expectations today. The aerospace and defense giant said its net profit totaled $837 million, or $1.12 per share, compared to a loss of $1.56 billion, or $2.23 per share, in the same quarter last year. Revenue rose 2%, to $16.97 billion, and it hiked its outlook to earnings.
The positive report from Boeing could indicate good news to come from other companies in the sector, including Lockheed Martin (NYSE:LMT) and General Dynamics (NYSE:GD).
Investors seeking to benefit from a bounce in the sector have several ETFs to choose from. Among them are the Powershares Aerospace & Defense Portfolio (AMEX:PPA), the iShares Dow Jones U.S. Aerospace & Defense Index Fund (AMEX:ITA), and the State Street Industrial Select Sector SPDR Fund (AMEX:XLI).
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