Why Heico Stock Just Dropped 5%
Airplane-parts supplier Heico (NYSE: HEI) was the absolute best-performing aerospace and defense stock of the past decade, returning more than 1,200% from the start of 2010 to the beginning of 2020 -- but it's giving back some of those gains today -- down about 5.6% as of 12:45 p.m. EDT despite "beating earnings" in last night's report.
Tuesday after close of trading, Heico said it earned $0.40 per share on $386.4 million in revenue in its fiscal Q3 2020, beating Street expectations for $0.32 in profits on $384.5 million in revenue.
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Source Fool.com
