Strong Earnings for Aerospace and Defense Companies Aren’t Getting Rewarded
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Aerospace and defense companies have had a strong first quarter, but you wouldn’t know it from their recent share performance.
A standard gauge for the sector, the S&P 500 Aerospace & Defense Industry Index, has dropped as much as 5.1 percent this week, despite a rush of upbeat results and outlook from top industry players, including Boeing, United Technologies, Lockheed Martin, Northrop Grumman and General Dynamics. Raytheon Co. is due to report Thursday before the market opens. The broader S&P 500 Index fell 2.1 percent this week.