Palantir Partner L3Harris Stock Climbs 4.45% In Pre Market: What's Going On?
Portfolio Pulse from Pooja Rajkumari
L3Harris Technologies Inc. (NYSE:LHX) saw a 4.45% rise in pre-market trading after exceeding Q3 financial expectations. The company reported $5.3 billion in revenue and $3.34 EPS, surpassing estimates. L3Harris also raised its 2024 revenue and earnings guidance and announced a strategic partnership with Palantir Technologies (NYSE:PLTR).
October 25, 2024 | 9:19 am
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L3Harris Technologies' stock rose 4.45% in pre-market trading after reporting Q3 results that exceeded expectations. The company reported $5.3 billion in revenue and $3.34 EPS, surpassing estimates. L3Harris also raised its 2024 revenue and earnings guidance and announced a strategic partnership with Palantir Technologies.
L3Harris' better-than-expected Q3 results and raised guidance are positive indicators for the stock. The strategic partnership with Palantir further strengthens its market position, likely boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Palantir Technologies announced a strategic partnership with L3Harris Technologies to enhance technology development and digital transformation. This partnership aims to improve connectivity and decision-making for warfighters.
The partnership with L3Harris is a strategic move for Palantir, potentially opening new revenue streams and enhancing its role in defense technology, which could positively impact its stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70