Stock analysts would probably describe the numbers that Lockheed Martin (NYSE: LMT) reported last week as a "mixed" quarter -- earnings above estimates, but revenue below them, and below consensus guidance besides. But investors' reaction to Lockheed's results was anything but mixed.

Thanks largely to its Q3 earnings report, shares of the defense giant surged to close last week 16.7% higher than they began the week. Clearly, investors were impressed with Lockheed's results -- but should they have been?

Reporting $6.71 per share in net profit on sales of $16.6 billion, Lockheed Martin essentially transformed a rather modest 4% sales increase year over year into triple the profits it earned in the year-ago quarter.

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Source Fool.com