Why Leidos Stock Is Down Today

Defense IT specialist Leidos Holdings (NYSE: LDOS) beat quarterly expectations, but investors apparently were hoping for more. Leidos shares fell 7% at market open Tuesday and were down 5% as of 11 a.m. ET.

Leidos is the largest of the so-called "Beltway Bandits" -- defense companies that provide IT and other services to military, intelligence, and civilian agencies. The company earned $2.37 per share in the fourth quarter on revenue of $4.4 billion, surpassing Wall Street's $2.28 per share on $4.1 billion consensus estimate.

CEO Tom Bell said in a statement:

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Source Fool.com