Diamonds and Dogs
Keeping the American people safe without anyone knowing is what our diamond of the today does best. Northrop Grumman (NOC) is soaring $9 or 5% to new all-time highs after winning a stealth bomber contract from the Air Force worth at least $60 billion and could be worth $80 over time. Northrop beat out heavy weights Lockheed Martin and Being to secure this 100 aircraft deal solidifying their role in defense aerospace. On top of that, Northrop reported better than expected earnings and raised guidance for 2016. All in all it was a great day for Northrop.
IDEXX Laboratories (IDXX) is in the dog house today dropping 10%. The company that specializes in veterinary diagnostics for livestock, poultry, and other animals including dogs reported earnings at the low end of guidance and then lowered fourth quarter numbers expecting 2-4% earnings growth instead of original guidance of 4-6% earnings growth. Projections for next year don't look much better so in the short term Idexx may remain under pressure for a while.