Mikie, looks like the analysts, being right on top of things, got to work on the whole sector.
From Money newsletter:
<Cowen, in a foul mood throughout the day, downgraded not only B-shares of Raytheon, which has lowered its earnings estimates, but also common shares of General Dynamics [GD], citing industry woes. The Raytheon contagion spread across the industry, with General Dynamics shares dropping 5 9/16 to 52
1/8, Northrop Grumman [NOC] falling 2 15/16 to 56 1/16 and Lockheed
Martin [LMT] falling 1 1/16 to 27 5/8. Maybe another nice, short war or overseas police action would resuscitate the sector.
On the bright side, more positive news on ANTX today :-)
Sergio |
