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's military aircraft production is facing potential disruption after defense workers in St. Louis rejected the company's latest contract proposal.

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

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.

Approximately 3,200 Boeing employees who build fighter aircraft and munitions could strike as soon as next week.