Boeing boosts profit targets after defense-spending increase

An increase in federal military spending will help boost this year’s profit at Boeing Co., the nation’s second-largest defense contractor.

A $1.3 trillion bill signed into law in March that funds the government through September 2018 and President Donald Trump’s proposal for the next year, combined with higher profitability from commercial airplanes, helped the Chicago-based company boost its full-year earnings target 3.6 percent to $14.50 a share on Wednesday.