Any every short like myself is DYING and getting their face utterly ripped off. Even if you trade it perfectly there had been zero relief or opportunity to make any money. This thing trades like CSCO circa 1999! All the shorts are (will) taking tax loses as well. Hedge funds had a crud year and need to take some losses. Bad returns and tax bills are not great for making the LPs happs.
They do however keep me drooling on the short side by extending the program accounting out to 1300 units on the 787 side. That alone was good for $0.25 and more than 100% of the increase to EPS guidance for the next quarter. Another guarantee to beat earnings! They also heaped on another $5billion in deferred development cost for next year in the 787 program. The street is now back to dwelling on earnings and not cashflow. This CEO and CFO really have them on the run.
They also put $1.5 billion in the pension fund. Why, since they are fully funded? If their assumed rate of return of 7%+ comes down then they need $10billion to cover, so I guess they started working on it now.