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Stock Market Today: Why PepsiCo and Boeing are on the Move

Demitrios Kalogeropoulos
July 23, 2014

The Dow Jones Industrial Average (DJINDICES: ^DJI) has gained 10 points in pre-market trading, suggesting a flat start for the stock market today. Global indexes saw modest gains overnight, with Asian shares up less than 1% and European stocks higher by 0.4% as of 9 a.m. EDT. 

Today's economic calendar is light, but investors will have plenty of new earnings reports to digest over the next 24 hours. Facebook, for one, delivers its quarterly numbers after the closing bell, and analysts expect the social network to book a massive 55% revenue gain. 

Meanwhile, Boeing (NYSE: BA) and PepsiCo (NYSE: PEP) stocks are on the move after the companies posted their quarterly results this morning.

Boeing delivered surprisingly high second-quarter profit growth and boosted its full-year earnings forecast. The Dow giant booked $22 billion in sales, which was a 1% improvement year over year and met Wall Street's expectations. But earnings growth was another story: profit jumped 45% to reach $2.42 a share, while analysts expected just $2.01. Much of that gain involved tax adjustments, but Boeing's operating results were strong as well. Commercial airplane deliveries grew by 7% from the pri