RDI Initiates Coverage on:
Lockheed Martin Corporation
Lockheed Martin Corporation saw shares dip into the red on Tuesday after its earnings report and closed down 2.24% on heavy volume. The American global aerospace, defense, security and advanced technologies company reported revenue that fell short of analyst expectations. Revenue came in at $11.06 billion and missed the analysts’ expectation of $11.23 billion for the period. EPS however came in at $3 per share, topping Wall Street forecasts of $2.79 per share. Looking forward, the company has cut its full year earnings outlook to between $12.15 per share and $12.45 per share from its previous view between $12.25 per share and $12.55 per share. The Street had expected the company to report earnings of $12.64 per share. The aerospace company also announced that it expects more international orders for the F-35 its missile-defense system, as global tensions spur demand for U.S. military hardware. On April 24, the company was awarded 2 new contracts with the U.S. Air Force valuing $43.4 million.
Access RDI’s Lockheed Martin Research Report at:
Biogen Inc. shares closed up 3.62% on Tuesday after the company reported better than expected first quarter earnings in the early morning which surpassed expectations both for earnings and sales. Biogen reported adjusted earnings per share of $5.20, up nearly 9%, on revenue of $2.81 billion, up 3%. The consensus had expected $5 adjusted earnings per share and $2.74 billion in sales. Biogen’s $125,000 drug Spinraza got off to a great start in 2017 and reached $47 million in the first quarter. This is compared with $4.6 million in fourth-quarter 2016. The drug is the only medication approved to treat spinal muscular atrophy. Biogen recently announced that the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending marketing approval for Spinraza in the EU.
Access RDI’s Biogen Research Report at:
Our Actionable Research on Lockheed Martin Corporation (NYSE: LMT) and Biogen Inc. (NASDAQ: BIIB) can be downloaded free of charge at Research Driven Investing.
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