On Tuesday, the price of Lockheed Martin Corporation’s (LMT) stock deteriorated by -3.73% to $330.69. The U.S. aerospace and defense giant posted $1.79 billion in fourth-quarter net income, or $6.38 per share, as opposed to $1.5 billion a year ago. $6.40 EPS was the FactSet consensus. Revenues also rose 7.3 percent, beyond industry forecasts, to more than $17 billion. The company expects earnings per share of between $26 and $26.3 for 2021, while sales are projected to range from $67.1 billion to $68.5 billion. The consensus was $26.18, with $67.97 billion in revenue.
Raytheon Technologies Corporation (RTX) improved by +1.39% to $67.2 following earnings and guidance. Raytheon, with careful guidance, reported better-than-expected fourth-quarter results. The US defense contractor reported earnings per share of 74 cents in the quarter ended, relative to a forecast of 71 cents. Profits contributed to $16.4 billion, down 16% from a consensus of $16.3 billion. Compared to a forecast of $3.45, the 2021 EPS is predicted to be between $3.4 and $3.7. Revenues are estimated to range between $63.4 billion and $65.4 billion, compared to $67 billion by consensus.
As it posted better-than-expected financial performance for the fourth quarter of 2020, Johnson & Johnson (JNJ) was up +2.71 percent to $170.48 on Tuesday. The U.S. laboratory, which was also widely awaited for the timing of its candidate for coronavirus vaccine, said the final findings of its trials were similar.
Alex Gorky, chief executive of the company, said in a conference call that the findings of his vaccine’s Phase 3 clinical trial will be released “early next week.” We are confident of achieving a sustained and successful immune response, particularly relative to our scientific approach to an adenovirus vaccine, Gorky said.
Beyond Meat, Inc. (BYND) increased by +17.7% to $186.83, while PepsiCo, Inc. (PEP) increased by +1.16% to $141.8. For plant-based snacks and drinks, Beyond Meat allied with PepsiCo.