Lockheed Martin Up in Pre-Market
Lockheed Martin (NYSE: LMT) announced today their 2Q20 Earnings report showing a net sales of $16.2 billion showing an increase from the previous year second quarter earnings of just $14.4 billion.
While many other company have done poorly in the aviation industry we are seeing those that are in the aerospace and defense market showing a better year than last year. Not to mention that these companies have also received funds from the CARES ACT which was to protect their employees wages.
Net Earnings for the 2Q20 were at $1.6 billion or $5.76 per share. When we look to compare this with 2Q19 earnings were at $1.4 billion which is about $5.00 a share. All in all when we look at these numbers its important to take into consideration that the company is performing better this time this year than it was this time last year and yet the stock is priced at a lower value currently.
This contrast between the increase in revenue when making the contrast to same time last years shows that there is still a consistent growth projection in place for what is to come. Part of this is a main reason as to why in the pre-market session Lockheed Martin is up around 3.1% or $11.4.
“I’m pleased to see continued strong operational and financial results this quarter as we remain focused on performing with excellence for our customers while protecting the well-being of our employees and keeping our supply chain strong during this global pandemic,” said James Taiclet, Lockheed Martin president and CEO. “Our dedicated Lockheed Martin team, and strong portfolio, coupled with supportive governmental actions have positioned us to deliver vital national security solutions for our country and international partners, and long-term value for our shareholders.”
Outlook for the next quarter moves up
The four main area that which Lockheed Martin (LMT) operates are: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
Aeronautics remains to be the largest portion of their business. Following behind is their Rotary and Missions Systems, and Space and Missiles and Fire Control coming up behind in a tight tie. It’s important to understand the market and customers that Lockheed Martin Deals with on a daily basis. They are not providing products that are being used directly by retail consumers. They navigate an industry which provides products and services to the military, the National Aeronautics and Space Administration and local and foreign governments.
They although have had impact with their supply chain due to the disruption of certain logistics and man power requirements from the shutdowns from the COVID-19 pandemic have been able to remain operational and profitable. Part of this ability to have been able to maintain revenue has been in their ability to allow a large portion of their team work remotely.
Conference Call Information
Lockheed Martin Corporation will webcast live the earnings results conference call (listen-only mode) on Tuesday, July 21, 2020, at 11:00 a.m. ET. The live webcast and relevant financial charts will be available for download on the Lockheed Martin Investor Relations website at http://www.lockheedmartin.com/investor.
This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin’s current expectations and assumptions. The words “believe,” “estimate,” “anticipate,” “project,” “intend,” “expect,” “plan,” “outlook,” “scheduled,” “forecast” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results may differ materially due to factors such as:
Marking your chart with trend lines near highly active price points, using tools like the Fibonacci retracement, and simply looking for patterns are great ways that technical traders can start to track and monitor underlying assets with high probability indicators.
If you notice our chart is not over crowded. We still want to be able to see the information clearly so that we can determine if there is a price movement in the actual stock value.
The large green line drawn is going to represent what we call our support level.
The horizontal red line near the top of the range is going to represent our resistance level. These zones help us determine the current range within the price is trading in.
At the time of writing this article the price is near the bottom of the zone sitting at the support level the night before Earnings. As earnings have been released then we can see the price start to move towards the center point of the zone. If it makes it easier for you can draw a third line to represent the center of the zone.
As price starts to work towards the center of the zone we are technicians will be watching to see how price respects or rejects that zone level. Should there be a rejection then the value of the price will drop back down to test the current support level which it is currently sitting on.
Once price respects and tests above the center zone then it can continue its directional move towards making new highs which would required breaking above the current resistance level.
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