Lockheed Martin’s Interceptor Passes Key Test, Netscout Systems Trims Fiscal Outlook

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Lockheed Martin’s Interceptor Passes Key Test, Netscout Systems Trims Fiscal Outlook
Credit: © Reuters.

On Tuesday, Lockheed Martin (NYSE: LMT ) announced that its Next-Generation Interceptor (NGI) passed a significant test. This development comes amid a mixed global market scenario where Asia-Pacific equities mostly rose, influenced by eased Israel conflict concerns and strong earnings. Japan's Nikkei gained 1.20%, while Taiwan's TAIEX remained flat, down by 0.06%. However, European markets trended lower in midday trading, and U.S. equity futures suggested a lower open.

In other market news, the ZEW Indicator of Economic Sentiment for the Euro Area rebounded to 2.3 in October, outperforming the market's -8 consensus reading. Its German counterpart also surged by 10.3 points to reach -1.1 in October. These figures pointed to a recovery in economic sentiment in the region.

Shares of Charles Schwab (NYSE: SCHW ) rose 4.66% after an earnings beat led to a price target increase from Raymond (NS: RYMD ) James Financials. Meanwhile, Microsoft (NASDAQ: MSFT ) started offers to exchange any outstanding notes issued by Activision Blizzard (NASDAQ: ATVI ) for new notes and cash up to $3.65 billion.

In corporate developments, NetScout Systems cut its fiscal year outlook following mixed guidance for its September quarter. On the other hand, Choice Hotels (NYSE: CHH ) International proposed to acquire all outstanding shares of Wyndham Hotels & Resorts (NYSE: WH ) at $90.00 per share, payable in cash and stock.

Year-to-date performance of major market indicators included Dow Jones Industrial Average at 2.53%, S&P 500 at 13.91%, Nasdaq Composite at 26.63%, Russell 2000 at -0.81%, Bitcoin at 71.74%, and Ether at 33.56%.

In the retail sector, Albertsons (NYSE: ACI ) was set to report its latest quarterly results, while Netflix (NASDAQ: NFLX ) reportedly considered a price increase. Additionally, Coca-Cola (NYSE: KO ) announced a new partnership with Pernod Ricard (EPA: PERP ) SA for a ready-to-drink cocktail set to launch in 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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