Why Boeing Stock Is Flying High Tuesday

Boeing Co BA shares are trading higher Tuesday after the company reported third-quarter deliveries. 

What Happened: Boeing said it delivered 105 commercial airplanes in the third quarter, bringing total deliveries since the start of the year up to 371. 70 of the 105 airplane deliveries were Boeing 737s. 

According to a Bloomberg report, Boeing gross orders year-to-date climbed to 848, increasing the company's backlog to 5,172 orders. 

Boeing shares may also be getting a boost from the Israel-Hamas conflict, which has helped lift several defense stocks this week. Boeing is a major aerospace and defense firm.

Boeing is set to report third-quarter financial results on Oct. 25. The planemaker is expected to turn in an earnings loss of $3.04 per share and quarterly revenue of $18.62 billion, according to estimates from Benzinga Pro.

See Also: Boeing Wins Contract For Four 787 Dreamliners From African Airline

BA Price Action: Boeing shares were up 2.88% at $193.79 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Boeing.