"There is no force on earth more powerful than an idea whose time has come." Victor Hugo
Bots in the News:
The bots surged in last week’s trading to the tune of 2.90% versus the S & P 500’s 1.46%. The Bot Index neared its 9 year high and closed at 393.40. The Index was assisted by significant strength in the Japanese components with the best performer being Fanuc’s 18.19%.
The premier defense stocks swapped performance with Lockheed Martin tumbling 9.22% while rival Northrup Grumman gained 9.77%. The best performing domestic name, however, was Oceaneering International. The company’s stock rose 10.75% due to released earnings of $.49 versus consensus of $.42 and well above prior year’s $.28. Revenues, likewise, exceeded targets and grew at a 4.4% pace over last year.
Conversely, shares of Textron fell 6.47% despite quarterly earnings report that noted revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%.
Looking ahead, however, revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Aerospace & Defense industry in the US.
