'Most of the bad news is behind Boeing' after Q4 losses
Boeing (BA) told investors in a preliminary earnings report that it will report fourth quarter revenue of $15.2 billion, falling below estimates of $16.6 billion, due to the impact of labor strikes and layoffs. Gabelli Funds portfolio manager Tony Bancroft joins Julie Hyman and Josh Lipton on Market Domination to discuss his outlook for the struggling aerospace titan. Bancroft says he's looking at the upcoming report as a "kitchen-sink quarter" where the company "accelerated the losses and got those out of the way." He points out that this was the CEO's first full quarter, and so with "the strike" and "equity issuance," unfavorable fourth quarter results may have been inevitable. "I think most of the bad news is behind Boeing," Bancroft says. "I think going forward, you're going to start seeing incremental improvement on production rates, and then with the new administration and the new Department of Transportation ... I think it's going to be a positive year for Boeing." Watch the video above to learn more about why Bancroft remains bullish on Boeing. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.
