A positive earnings report for the 3rd quarter and some positive guidance boosted Boeing (BA) stock today by near 2%. Commercial place deliveries provided for a revenue surprise of $25.85 billion. A 7% increase from the prior year period. The new earnings guidance came in above the range of $7.7-7.9 a share at $7.95-8.15.

Profit popped 25% and the company reduced costs on its 787 Dreamliner that many analyst have been pushing for. The company has a backlog of 5700 jets which is a good number of orders that should keep revenue solid going forward. Other worries include the closing of the import-export bank and slowing demand from emerging markets. The company did not feel these issues would be enough to offset current positive trends.

Boeing continues to have strong military ties with two projects in the works. the US Air force ordered from Boeing, in partnership with SAAB, training jets. They are also building bombers with Lockheed Martin, which recently reshuffled their defense business due to defense spending changes.

Another reason for strength is a stock Buyback program Boeing started 3 years ago. A total of $20 billion is being spent to reduce outstanding shares. This last quarter, $1.5 billion was utilized to purchase shares. Boeing plans to continue to purchase shares according to CFO Greg Smith.