The financial world is abuzz with speculation, with Bill Baruch from Blue Line Capital launching an intriguing claim about Leidos Holdings (NYSE: LDOS). According to Baruch, Leidos Holdings is “breaking out, trying to break out above its 2020 high,” following a “great earnings” report last week.
Leidos Holdings, based in Reston, Virginia, reported a remarkable 8% year-over-year revenue growth, totaling $3.98 billion for the fourth quarter of 2023, surpassing the consensus of $3.80 billion. Furthermore, they achieved an adjusted EPS of $1.99, representing a 9% increase year-over-year and trumping the consensus of $1.74. For fiscal 2024, the company is anticipating revenue in the range of $15.70 billion to $16.10 billion and an adjusted EPS of $7.50 to $7.90.
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Moving onto Shannon Saccocia of NB Private Wealth, who named iShares U.S. Utilities ETF (NYSE: IDU) as her final trade.
Lastly, Joe Terranova, representing Virtus Investment Partners, threw his support behind Vulcan Materials Company (NYSE: VMC).
Vulcan Materials reported outstanding fourth-quarter financial results, matching revenue expectations of $1.83 billion and surpassing the adjusted EPS forecast of $1.39 with an actual of $1.46. The company confidently stated its projections for net earnings of $1.07 billion to $1.19 billion and adjusted EBITDA in the range of $2.15 billion to $2.30 billion. Not to be overshadowed, the construction materials provider also revealed plans to allocate $625 million to $675 million for essential maintenance and growth projects in 2024.
Price Action:
- Leidos shares gained 1.3% to close at $123.83 on Friday.
- iShares U.S. Utilities ETF slipped 0.01% during Friday’s session.
- Vulcan Materials shares jumped 5.2% to settle at $255.15 on Friday.
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