Lockheed Martin stock (NYSE: LMT) is surging over 6% today (Tuesday) intraday. And this confirms the bullish outlook we’ve maintained on the Lockheed Martin stock price.
Lockheed Martin stock’s share bump is from its stellar third-quarter earnings report, which it posted today.
Lockheed’s net sales for the quarter grew to $2.4 billion, up from $865 million from Q3 2015. The defense giant also posted adjusted earnings per share of $3.61, which smashed analysts’ consensus estimate of $2.89 per share, according to FactSet.
Another reason LMT is rising today: The company boosted its quarterly dividend 10% to $1.82 per share. It also increased share repurchases to $2 billion.
Looking forward, Lockheed raised its guidance for the end of 2016. It now expects earnings of $12.10 per share with revenue of $46.5 billion. Those numbers are $0.95 per share and $1.5 billion higher than its previous guidance estimate, respectively.
best stocks to purchase today: Vanguard Short-Term Government ETF(VGSH)
- [By Donald van Deventer]
Shorter-duration Treasury Exchange-Traded Funds: (SHY), (SHV), (IEI), (BIL), (TUZ), (FIVZ), (DTUL), (VGSH), (DTUS), (DFVS), (DFVL), (SST), (ISTB), (TBZ).
best stocks to purchase today: (SMPQY)
- [By SEEKINGALPHA.COM]
The majority owner is Sun Pharma (OTC:SMPQY) (the largest drug business in India). There have been a number of articles that have outlined Sun Pharma and its quest for Taro, but it makes a lot of sense for Sun to want to own all – and not just the majority – of Taro. One big reason is that owning all of Taro means that any investments that Sun makes with Taros $1.2 billion cash hoard will not be diluted by the presence of minority shareholders. Another reason that Sun likely wants Taro is simply because it is very cheap right now. Sun is run by its founder and majority shareholder, Dilip Shanghvi, who is sort of a pharmaceutical value investor who has opportunistically made acquisitions and investments over time, building his firm starting with a loan of $200 in the early 1980s to the multi-billion business it is today.
- [By SEEKINGALPHA.COM]
We believe that two main risks currently exist. First, a few days ago, U.S. Department of Justice filed charges in generic drug price-fixing probe. The U.S. Department of Justice accused two former generic pharmaceutical executives of colluding with other generic manufacturers to fix prices – the first criminal charges stemming from a two-year investigation. Companies in the congressional probe have since publicly disclosed that they have received subpoenas, including Mylan NV (NASDAQ:MYL), Allergan (NYSE:AGN), which later sold its generics business to Teva (NASDAQ:TEVA), Lannett (NYSEMKT:LCI), Impax Laboratories (NASDAQ:IPXL), Endo International (NASDAQ