At first we were quite impressed by the following major revenue and EPS beat by Boeing announced earlier today:
- *BOEING 1Q EPS $1.22 ON 11C REDUCTION IN RESERVE, EST. 93C
- *BOEING 1Q REV. $19.38B, EST. $18.31B :BA US
...until courtesy of Sean Corrigan we found out that Boeing is merely the latest company to discover what GM recently discovered as have so many now defunct other companies. That when in doubt - stuff.
The lower pane shows the 100% rise in Inventory relative to Sales from the previous decade's average level!!
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Chart: Bloomberg and Diapason Commodities