For Immediate Release
Chicago, IL – February 10, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Coca Cola Company (KO), Boeing Company (BA), General Electric Company (GE), Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC).
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Here are highlights from Tuesday’s Analyst Blog:
Coca Cola Reports In Line
Coca Cola Company (KO) reported fourth quarter 2009 results with earnings of 66 cents per share, which was in line with the Zacks Consensus Estimate. Earnings were up 3.0% year-over-year.
Net revenues increased 5.4% year-over-year during the quarter, due to a 5% positive impact from currency translation and 1% increase in concentrate sales which were partially offset by a 1% impact from pricing and mix.
Worldwide unit case volume increased 5% in the quarter, aided by a 6% improvement in international unit case volume and a 4% growth in Coca Cola, its trademark brand. The emerging markets of China and India grew an impressive 29% and 20%, respectively.
France also reported a strong growth of 12% during the fourth quarter. In addition, strong unit case volume growth was observed in other key markets including Brazil, Mexico and Germany. Europe posted a 1% volume growth, while North American volume declined 1%.
Boeing Progressing on 747-8
Boeing Company (BA) successfully completed the first test flight of its long-in-the-making 747-8 Freighter. The 747-8 Freighter is the new, high-capacity 747 that brings the benefits of low operating costs and best economics in any freighter to cargo operators. The 747-8 is powered by four General Electric Company’s (GE) GEnx-2B engines. The airplane is 250 feet, 2 inches (76.3 m) long, which is 18 feet, 4 inches (5.6 m) longer than the 747-400 Freighter. The stretch provides customers with 16% more revenue cargo volume compared to its predecessor. That translates to an additional four main-deck pallets and three lower-hold pallets.
Boeing launched the airplane on Nov 14, 2005, with firm orders for 18 747-8 Freighters: 10 from Cargolux of Luxembourg and eight from Nippon Cargo Airlines of Japan. Till date, Boeing has secured 108 orders for the 747-8. The customers are a varied mix of airlines like AirBridgeCargo Airlines, Atlas Air, Cathay Pacific, Dubai Aerospace Enterprise, Emirates SkyCargo, Guggenheim and Korean Air.
Headquartered in Chicago, Boeing is the world’s largest manufacturer of commercial jet liners and military aerospace products (based on total sales). Boeing designs and produces commercial airplanes, defense systems, and civil and defense space systems. It is also the largest NASA contractor. Non-airplane products include helicopters, electronic and defense systems, missiles, satellites, rocket engines, launch vehicles, and advanced information and communication systems.
Boeing is one of the best-positioned companies among its defense peers due to its balanced exposure to commercial aircraft and defense equipment. Defense peers like Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC) dabble only in defense equipment.
Going forward we believe Boeing’s $316 billion order backlog, strong order booking, stable cash flow generation and a globally diversified customer base will help maintain the growth momentum. However, a bearish commercial aerospace market, apprehension over growth in defense spending, and delays in the launch of the 787 series jetliner will affect Boeing’s performance in the near term.
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