Aerospace giant Boeing Co (BA) reported impressive second-quarter results before the bell this morning, including narrower-than-expected losses of $1.24 per share on a revenue beat of $22.75 billion. According to The New York Times, it was the company's strongest revenue in six years. Airplane deliveries also hit their highest level since 2018.
Despite the improvement, BA was last seen down 3.2% at $228.86, reversing earlier gains after hitting a 52-week high of $242.59 straight out of the gate. Support at the $228 level, which has been in place for a couple weeks, appears to be keeping losses in check. Year-to-date, the equity is up 29.9%.
Fellow Dow member UnitedHealth Group Inc (NYSE:UNH) also reported earnings ahead of the open this morning. The healthcare giant's second-quarter earnings, revenue, and full-year forecast all missed analyst expectations amid higher medical costs.
UNH was last seen down 4.5% at $269.70. Should these losses hold, the stock will mark its lowest close in five years. Since the start of the year, the equity is down 46.6%.
Options traders are blasting UNH and BA after the reports, with both seeing double the intraday average options volume. The most popular BA contract is the weekly 8/1 235-strike call, while UNH's is the January 2027 500-strike call, with new positions opening at both.
