Kratos Stumbles, but Is It Still a Buy?

Kratos Defense & Security Solutions (NASDAQ: KTOS) has been a highflier so far in 2019, with shares of the aerospace specialist up nearly 75% heading into the company's second-quarter report.

Earnings came in ahead of expectations, yet shares of Kratos responded by giving up nearly one-third of their gains for the year. The issue, at first glance, is tepid third-quarter guidance and a lack of a firm update on a key military program. It's arguably also an example of investor enthusiasm getting ahead of operations.

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