Boeing's profit tumbles 19%: Nuclear boosts Exelon; CNH Global up 52%

Via Acquire Media NewsEdge) Jul. 24--Boeing Co. underwhelmed Wall Street analysts Wednesday by reporting second-quarter earnings that fell 19 percent. It was "the worst quarter we have seen from Boeing in some time," said JPMorgan analyst Joseph Nadol III, while Morningstar analyst Brian Nelson characterized the results as "lackluster." Net income in the quarter was $852 million, or $1.16 a share, down from the year-ago $1.05 billion, or $1.35 a share. Revenue slipped less than 1 percent, to $16.96 billion from $17.03 billion. Net income was hurt by a hefty $248 million pretax charge Boeing's defense segment recorded in connection with a delayed contract, but the Chicago-based company had warned investors that the 22-cent-a-share hit to profit was coming. A slippage in profit margins at Boeing's commercial jet segment helped... [read full story]