Why Mercury Systems Stock Is Falling Today
Defense electronics specialist Mercury Systems (NASDAQ: MRCY) ran into supply chain and cost pressures in its most recent quarter, and investors are selling the stock as a result. Shares of Mercury opened down as much as 20% on Wednesday, creating a potential buying opportunity for long-term-focused investors.
Mercury manufactures a range of sophisticated electronics systems and applications for the aerospace and defense sector. It's an under-the-radar business but it is increasingly important as the defense sector shifts away from simple metal-bending and toward more advanced, and digital, systems.
On Tuesday night, the company reported fiscal fourth-quarter earnings of $0.81 per share on revenue of $289.7 million. Revenue was up 16% year over year, but the results missed analyst expectations for $0.99 per share in earnings on sales of $307 million.
Source Fool.com
