This week is one of the busiest corporate earnings weeks, and one of the stars of the show, Boeing, will be releasing its numbers on Wednesday, which could move aerospace ETFs.

The aerospace company is scheduled to report earnings before the bell in what is one of the most heavily monitored releases of the industrial stocks.

Analysts anticipate a second-quarter loss of $2.57 a share, which would be an improvement from the $5.82 loss a year earlier when the company was struggling to deal with its 737 Max crisis. Revenue is projected to fall by 18% to $12.95 billion, according to FactSet.

Shares in Boeing are down nearly 50% in 2020, and Boeing is still dealing with 737 Max issues. The company is also facing problems related to the coronavirus pandemic, as well as global economic sluggishness and a precipitous fall in airline travel and demand.

“The air travel industry is having some issues,” Steve Chiavarone, portfolio manager at Federated Hermes, told CNBC’s “Trading Nation” on Tuesday. “You had that little bit of a recovery after the depths of the shutdown and that progress got stunted as you had these quarantine, these mandatory quarantines and travel restrictions in the United States, and restrictions for U.S. travelers going overseas.”

Despite the overall industry issues, Boeing could come out punching, Chiavarone said.

“No company within the travel-leisure space is a winner right now. What we’re trying to do is separate survivors from companies that won’t. Boeing is likely to be a survivor, but in the short run, it’s just a really challenging environment,” he said.

Technical analysts still feel that the stock could have some headwinds, however. Todd Gordon, managing director at Ascent Wealth Partners, said the charts potent that Boeing could be stuck in consolidation for some time, making it challenging for stock investors.

“We’re stuck between gap resistance up around $250, and then sort of minor support which is holding which is constructive at $170. So it’s kind of in no man’s land here,” Gordon said during the same segment.

“The airlines are trying to stay afloat here through the end of the year, hopefully, we get a return to normalcy here, which is not exactly confidence-inspiring as an investment but it’s still a great American company, it’s got a lot of assets … but we think the equity remains under pressure for some time,” Gordon said.

For investors who own Boeing or are considering using ETFs to purchase the stock, the iShares U.S. Aerospace & Defense ETF (ITA) and Invesco Aerospace & Defense ETF (PPA) are two funds to keep an eye on following the release.

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