Why Mercury Systems Stock Is Falling Today
Aerospace tech company Mercury Systems' (NASDAQ: MRCY) quarterly results slightly exceeded expectations, but its guidance was weak. That guidance has the shares tumbling more than 20% in Wednesday morning trading.
On Tuesday after markets closed, Mercury reported fiscal third-quarter adjusted earnings of $0.64 per share on revenue of $256.86 million, topping analyst expectations of $0.62 per share in earnings on revenue of $253 million. The company makes components for a variety of commercial aerospace and defense platforms, for example rugged ethernet routing devices used by Boeing in the AH-64E Apache helicopter.
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Source Fool.com
