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Defense Boosts Boeing’s Earnings; Guidance Unchanged Pending Revamped 787 Schedule

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By Calvin Biesecker Boeing [BA] yesterday reported strong second quarter earnings on relatively flat sales driven by a big jump in operating profits at its defense business and solid gains in its commercial airplane unit. The company also said that it has settled on a "straight-forward fix" to a structural problem with its 787 commercial aircraft development program, which was supposed to begin flight testing last month until static tests showed the need to reinforce an area within the side-of-body…

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