What's Going On With Northrop Grumman Shares Today?
Portfolio Pulse from Akanksha Bakshi
Northrop Grumman Corp (NYSE:NOC) reported Q2 FY23 sales growth of 9% YoY to $9.58 billion, beating the consensus of $9.35 billion. EPS was $5.34, above the consensus of $5.33. The company raised its FY23 sales guidance by $400 million and its MTM-adjusted EPS guidance. Despite the positive report, NOC shares traded lower by 5%.
July 27, 2023 | 3:57 pm
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Northrop Grumman reported strong Q2 results and raised its FY23 guidance, but its stock price fell.
Despite reporting strong Q2 results and raising its FY23 guidance, Northrop Grumman's stock price fell by 5%. This suggests that the market had already priced in the positive earnings and guidance, and possibly expected even better results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100