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Why Boeing, T-Mobile, Owens Corning & Two Other Stocks Are in Spotlight on Wednesday

All three index futures are in the green today as traders digest the latest earnings releases and expect the end of the Fed’s policy meeting to get an idea regarding the future path of the interest rates.

Among the companies that just reported their latest quarterly results are Boeing Co (NYSE:BA), T-Mobile US Inc (NASDAQ:TMUS), Owens Corning (NYSE:OC), Hess Corp. (NYSE:HES), and General Dynamics Corporation (NYSE:GD). Let’s take a closer look at the performance of each of these companies in the last quarter and see what the investors we track at Insider Monkey think about them.

While there are many metrics that investors can assess in the investment process, the hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).


Boeing Flies 2% Higher on Earnings Beat

Boeing Co (NYSE:BA) reported an adjusted core-earnings loss of $0.44 per share on revenue of $24.755 billion for its second quarter, beating analyst estimates by $0.48 per share and $760 million, respectively. Boeing reported an adjusted loss due to an aggregate $3.23 per share impact related to the 787 R&D reclassification and charges related to the 747 and KC-46 Tanker programs. Operating cash flow came in at a strong $3.2 billion, while backlog was $472 billion, reflecting nearly 5,700 commercial airplane orders. Management expects adjusted EPS of $6.10-$6.30 for the full year on revenue of $93-$95 billion. Cliff Asness’ AQR Capital Management reported a stake of over 1.1 million shares in Boeing Co (NYSE:BA) at the end of the first quarter.

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America’s Fastest Growing Telecom Continues Growth Streak 

T-Mobile US Inc (NASDAQ:TMUS) shares have rallied 1.7% after the telecom continued its string of strong quarterly growth results by reporting an EPS of $0.25 on revenue of $9.2 billion for the second quarter. Analysts were expecting earnings of $0.05 per share and $170 million less respectively. Sales rose 12.5% year-over-year, powered by 1.9 million total net adds and record-low branded postpaid phone churn of 1.27%. Adjusted EBITDA rose by 35.6% year-over-year to $2.5 billion in the quarter, while management sees Adjusted EBITDA for full year 2016 to be $9.8 billion to $10.1 billion, versus the previous range of $9.7 billion to $10.2 billion. Among the funds we track, 52 funds owned $2.32 billion worth of T-Mobile US Inc (NASDAQ:TMUS)’s stock, which accounted for 7.40% of the float on March 31, versus 50 funds and $2.41 billion, respectively, on December 31.

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On the next page, we examine Owens Corning, Hess Corp, and General Dynamics Corporation.

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