Savings Experiment: Snow Removal
The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Aircraft builders Boeing Co. (BA) and General Dynamics Corp. (GD) posted solid fourth-quarter earnings on Wednesday, but with disappointing guidance for the year.
Chicago-based Boeing said it earned $1.3 billion, or $1.75 per share, compared with a loss of $86 million, or $0.12 cents per share, in the year-ago period. Sales rose 2.9% from a year ago to $17.9 billion as Boeing doubled commercial aircraft deliveries for the period. A survey of analysts by Thomson Reuters predicted a $1.36 profit on $17.6 billion in revenue.
Boeing forecast 2010 earnings in the range of $3.70 to $4.00 per share, reflecting previously announced production cuts in its 777 program. This guidance fell short of analysts' estimates.
General Dynamics earnings totaled $614 million, or $1.57 a share, up from $612 million, or $1.57, in the same period of last year. Revenue rose to $7.9 billion from $7.85 billion on improvement in its combat, marine and information systems units. Wall Street was looking for a profit of $1.58 a share and total sales of $8.42 billion.
General Dynamics, the owner of Gulfstream business jets, forecast a 2010 profit between $6.40 to $6.50 per share. This also fell short of analysts' expectations.
Boeing shares closed up 7.3% to $61.93 Wednesday while General Dynamics shares fell 2.2% to $67.23.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
