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Two of America's biggest defense contractors turned their earnings in this past week, and the results were… mixed.
Raytheon Technologies reported a solid beat on earnings per share, and the stock went up, but Lockheed Martin took a beating for missing on earnings expectations – a heckuva way for investors to treat the company that just this past Wednesday replaced Boeing as the world's biggest aerospace and defense operation.
But the common thread here is both companies' extremely iffy forward guidance on aircraft and equipment sales; forecasts were much lower than expected, and that's kept interest pretty tepid.
That's going to be the key to unlocking some profits on a trade that I think Wall Street just isn't looking for right now… Full Story