Boeing Down, Circuit City Up

US plane manufacturer Boeing [[ba]] announced a delay in its first 787 Dreamliner delivery to Japan’s All Nippon Airways, saying that would take place in the third quarter of next year, as opposed to its previous target of early 2009. This delay isn’t new, considering that the first 787 delivery was originally planned for May 2008. Boeing share price has fallen by 24% since it first announced a delay last October. These delays are starting to make investors think Boeing may have lost some of the edge that it had over its rival EADS [[ead.be]] - manufacturer of Airbus - after the delays of the Airbus 380.

On Wednesday, Circuit City Stores [[cc]] rose 7.1% premarket trading after it reported a small fourth-quarter profit of $4.85 million, or 3 cents a share, instead of a loss of 8 cents per share that has been expected by market analysts. This was a marked improvement over a loss of $4.25 million, or 3 cents a share, last year. This, and Intel’s [[intc]] positive tone when it said a few days back that demand was strong and not affected by the current market slump, may inspire investors to believe certain technology companies won’t be as affected as they had feared.

The world’s largest shipping carrier UPS [[ups]] said it now expects earnings per share of 86 cents or 87 cents. These are lower than its previous expectations of 94-98 cents profit per share and average analyst expectations of 93 cents a share. Like many companies which have done worse than expectations this season, it blamed rising energy costs and the weakening economy.

Posted in Categories: Japan, Stocks, UK.

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