Posted on 07/27/2016 9:14:50 AM PDT by Elderberry
Earnings dominated the major stories in the defense and aerospace sector over the past five trading sessions as we entered the thick of the reporting season. Among the defense biggies, Lockheed Martin Corp. LMT has not only reported impressive results but also boosted its outlook for 2016. Other companies like Textron Inc. TXT and Rockwell Collins Inc. COL have also come up with estimate-beating results.
Unlike the broader markets, the defense sector stumbled somewhat last week after a few weeks of gains. The S&P 500 Aerospace & Defense (Industry) index and Dow Jones U.S. Aerospace & Defense Index dropped 0.95% and 0.45%, respectively, in the last five trading sessions.
Nonetheless, the sector is expected to report impressive Q2 results. Total earnings are likely to be up 9.4% supported by 1.5% revenue growth.
Apart from the earnings releases, L-3 Communications Holdings Inc. LLL, Lockheed Martin and Huntington Ingalls Industries, Inc. HII picked up big defense contracts.
(Excerpt) Read more at finance.yahoo.com ...
I bought some LMT when the Iran deal went through. Lockheed makes the successful THAAD anti missile system (which includes the Patriot -3 for shorter range intercepts). These products are authorized for sale in the Middle East and several deals have been approved. My guess is the this will help LMT stock for some future runs with Iran becoming more of a threat.
Interesting that this factor was not cited in the article, maybe not a big source of LMT profits.
I’m guessing the Big Boys know Trump’s gonna win and out military will be rebuilt...
Maybe this fall I might have some money for investing.
Too much stuff with this Olde House and other Olde stuff bills to handle this year.
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