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Markets · Investing · Business
Finance
Why L3Harris Technologies Stock Is Plummeting Today
L3Harris just posted a great quarterly report, but the market is reacting negatively to IPO-related news.
L3Harris Technologies (NYSE: LHX) stock is suffering a big pullback in Thursday's trading despite publishing a strong quarterly report yesterday. The company's share price was down 11% as of 11:35 a.m. ET -- a pullback that looks even more notable given that the S&P 500 was up 0.8% at the same point in the session.
L3Harris published its second-quarter results after the market closed yesterday, and it actually delivered sales and earnings that meaningfully exceeded the average Wall Street targets. Despite the strong Q2 print and some solid demand indicators, the stock is getting hit hard today.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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