Defense And Aerospace Mixed After Earnings Reports

Defense and aerospace stocks were mixed Wednesday.  Several companies beat earnings expectations but weakness was seen in overall revenue in some cases.

The Boeing Company BA posted upbeat earnings and lifted its forecast but the stock traded at $121.84, down 4.15 percent Wednesday afternoon.  Analysts were expecting higher revenue and earnings. 

Northrop Grumman Corporation NOC also beat analyst estimates and raised its 2014 earnings forecast. After surging higher in early trading, the stock traded at $125.82 Wednesday afternoon, down 0.25 percent.  The company reported lower sales and operating income compared to the same period in 2013.

B/E Aerospace Inc BEAV was the hardest hit in Wednesday’s trading session.  Despite beating estimates, the stock traded at $76.12 Wednesday afternoon, down 4.70 percent.  The company’s sales and earnings were up across all segments.

Other aerospace companies were largely down on the day, Lockheed Martin Corporation LMT and General Dynamics Corporation GD were the exceptions.

Lockheed Martin revenue was below estimates but EPS beat expectations.  The company traded at $176.47 Wednesday, up 2.24 percent. Sales slipped, however, 2 percent.

General Dynamics beat 3Q estimates and was trading at $127.15 Wednesday, up 2.63 percent.  Revenue in IT fell but was up in all other segments.