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Defense & Aerospace Mixed After Earnings Reports

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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

 

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