Why Leidos Holdings Stock Is Up Today

Leidos Holdings (NYSE: LDOS) reported better-than-expected quarterly results this morning, helping ease concerns that efforts by the task forced called the Department of Government Efficiency (DOGE) would eat into earnings. Investors cheered the results, sending Leidos shares up 4% around 2 p.m. ET.

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Leidos is the largest pure-play "Beltway Bandit," a term given to the group of defense contractors focused on providing IT (information technology) and other services to defense and civil government agencies. The company earned $2.97 per share in the reported quarter on $4.25 billion in revenue, topping Wall Street's $2.50 per share on sales of $4.1 billion consensus estimate.

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Source Fool.com