Stocks in the defense and automotive sectors showed mixed results as companies released their third-quarter earnings. RTX, the defense contractor, experienced a notable rise, reporting adjusted earnings of $1.80 per share, exceeding the LSEG consensus estimate of $1.78. The company’s revenue also surpassed expectations at $24.97 billion, compared to the projected $24.08 billion.
Northrop Grumman’s shares rose by 0.5% after the company reported earnings of $7.89 per share, which was above the LSEG estimate of $7.18. However, its revenue of $11.12 billion fell slightly short of the anticipated $11.14 billion.
General Motors faced a decline of approximately 5% in its stock despite better-than-expected earnings. The automaker increased its free cash flow forecast and announced a $20 billion stock buyback program, but the lack of a specific timeline for the repurchase raised concerns among investors.
GE Aerospace saw a nearly 2% dip in shares following a raised full-year 2026 guidance, but its reported free cash flow of $2.04 billion was lower than the expected $2.2 billion. Meanwhile, 3M experienced a 1% increase after it reported adjusted earnings of $2.50 per share, surpassing an estimate of $2.38.
Steel Dynamics shares fell 5.3%, reporting mixed earnings with revenue exceeding expectations but profit margins lagging. Despite this, the company indicated a 50% increase in customer backlog year-over-year, fueled by ongoing demand.
Tech giant Apple decreased by about 1% following a downgrade from Loop Capital, with analysts highlighting concerns over declining iPhone sales and high valuation. Conversely, Solstice Advanced Materials saw a 3% rise after reports of activist investor Starboard Value acquiring a stake.
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