Tesla Execs Are Freaking Out

You might not believe what you're about to see is real, but I assure you the video has been left unedited. It's so revolutionary that tech giants like Microsoft, Amazon, and NVIDIA are all lining up to get their hands on it. And Elon Musk has completely restructured Tesla to chase this opportunity.

Palantir Partner L3Harris Stock Climbs 4.45% In Pre Market: What's Going On?

Pooja Rajkumari
October 25, 2024

Defense contractor L3Harris Technologies Inc. (NYSE:LHX) experienced a notable 4.45% rise in pre-market trading on Friday. This surge followed the release of its third-quarter financial results, which exceeded market expectations.

What Happened: Benzinga Pro revealed that L3Harris was trading at $255.04 on Friday during pre-market hours after closing at $244.17.

L3Harris Technologies Inc. reported revenue of $5.3 billion for the third quarter, surpassing the consensus estimate of $5.28 billion. Adjusted earnings came in at $3.34 per share, beating analyst predictions of $3.26 per share. The company’s total revenue increased by 8% year-over-year, driven primarily by the acquisition of Aerojet Rocketdyne, while organic revenue saw a 5% year-over-year growth. Adjusted earnings also rose by 5% year-over-year.

Christopher Kubasik, chair and CEO, highlighted progress on the LHX NeXt initiative, stating that they expect to exceed the 2024 cost savings target of $400 million.

See Also: Elon Musk Shuts Down Traditional Tesla $25K EV Rumors, Calls It ‘Pointless’ As Company Focuses On All-Autonomous Future: ‘Yeah. It Would Be Silly’

The company has raised its 2024 revenue guidance to a range of $21.1 billion to $21.3 billion and adjusted its earnings forecast to between $12.95 and $13.15 per share.

On Wednesday, L3Harris also announced its strategic partnership with Palantir Technologies (NYSE:PLTR) for technology development and accelerating L3Harris' digital transformation. The companies will work together to improve connectivity and enable faster, more informed decision-making for warfighters.

Why It Matters: The positive financial results and strategic moves by L3Harris Technologies come at a crucial time for the defense industry. The acquisition of Aerojet Rocketdyne has significantly contributed to the company’s revenue growth.

Read Next:

  • Five US Banks Face Billions In Losses As Silver’s Price Spike Hits Short Sellers Hard: Report

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Image via Shutterstock

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