Boeing shares up despite big drop in earnings, challenging outlook

Boeing shares rose 1.8% in trading yesterday, despite the manufacturer's announcement of a 50% drop in net profit in 1Q09 and a 7% reduction to its full-year earnings forecast, due to lower price expectations. The full year forecast is on the high side of market expectations, although the company has admitted that it is facing an "unprecedented" challenge, due to the global economic downturn.