Why Boeing's Stock Is Taking Off Today

Boeing Co (NYSE: BA) is trading higher Wednesday morning after the company announced better-than-expected second-quarter earnings results.

Boeing reported quarterly earnings of 40 cents per share, which beat the estimate for a loss of 72 cents per share. The company reported quarterly revenue of $17 billion, which came in below the estimate of $17.78 billion. 

The company said revenue in the quarter was driven by higher commercial airplanes and services volume.

We continued to make important progress in the second quarter as we focus on driving stability across our operations and transforming our business for the future," said David Calhoun, president and CEO of Boeing.

Price Action: Boeing has traded as high as $278.56 and as low as $141.58 over a 52-week period.

At last check Wednesday, the stock was up 5.91% at $235.40.