Market Overview

Defense & 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 (NYSE: 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 (NYSE: 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 (NASDAQ: 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 (NYSE: LMT) and General Dynamics Corporation (NYSE: 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 Q3 estimates and was trading at $127.15, up 2.63 percent. Revenue in IT fell but was up in all other segments.

Posted-In: Earnings News Intraday Update


Related Articles (BEAV + BA)

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