Bottom line: Boeing shares are in a new bull market trend with a 12-month price target of $300.

Boeing’s second-quarter loss narrowed and revenue improved as the aircraft manufacturer delivered more commercial planes in the period.

Boeing Co. managed to slow a cash outflow in the second quarter, indicating that a turnaround initiated by Chief Executive Officer Kelly Ortberg a year ago is paying off as the company delivers more aircraft.

Boeing and Sweden's Saab are in talks with Britain's BAE Systems about teaming up on a future replacement of Britain's Hawk trainer in a growing niche of the fast jet industry, three people familiar with the matter said.

But the CEO says the company won’t seek to boost output of its 737 planes until it is better prepared.

Boeing slashed its quarterly losses as sales jumped after it delivered the most airplanes since 2018. The aerospace giant lost $176 million in the three months ended June 30, down from $1.09 billion a year earlier.

Boeing reported second quarter earnings on Tuesday that topped expectations and stemmed the tide of cash burn that has plagued the company since early last year as CEO Kelly Ortberg continues his turnaround of the beleaguered jet maker.