Boeing blows past estimates with help from tax cut; shares surge

Boeing jumped the most in six months after the planemaker said record aircraft deliveries this year would bolster cash and reverse a two-year sales decline. Jetliner shipments will rise to as many as 815 this year, up almost 7% from 2017, the manufacturer said Wednesday as it reported earnings. Operating cash flow, a focus for investors, will increase to about $15b. The world’s largest aerospace company is extending a remarkable stock rally as it benefits from strong demand and plans to ramp up output of the 737, its largest source of profit. Boeing is also getting a boost from U.S. corporate tax cuts, which are taking effect just as the 787 Dreamliner starts to generate hefty cash gains after a decade of losses. “It’s a very visible, must-own stock right now,” said Carter Copeland, an analyst at Melius Research, who added that strong numbers across the board will probably entice more investors. <br/>