Capital Goods Sector Review: Boeing’s Presentation at Cowen’s, Ingersoll-Rand Q1
The Boeing Company (NYSE:BA): In presentation slides at Cowen’s conference, Boeing said global economic growth slowing and uncertainties remain, but added passenger traffic remains resilient while cargo traffic is contracting. The company said it is seeing defense budget pressures in U.S. and other developed markets.
The shares closed at $75.46, up $0.7, or 0.94%, on the day. Its market capitalization is $56.20 billion.
Ingersoll-Rand PLC (NYSE:IR): Sees Q1 revenue $2.975B-$3.075B vs. consensus $3.16B. The first quarter earnings forecast includes approximately $50M of restructuring and cost reduction investments. The first-quarter forecast reflects a tax rate of 25% for continuing operations and an average diluted share count of approximately 315M shares.
The shares closed at $37.99, up $0.43, or 1.14%, on the day. Its market capitalization is $11.86 billion.
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