Market confidence in Rockwell Collins continues to grow, ahead of the aerospace and defence company’s second quarter results, due out toady (23-Apr-2010). The company’s shares traded 2.8% higher yesterday, hitting a high of USD67.84 per share. Shares have traded strongly since the beginning of Feb-2010, when the price was below USD53 per share.
Results previews anticipate a profit of USD0.87 per share, on USD1.14 billion in revenue for the quarter, although results are expected to be somewhat weaker than in the same period last year. Rockwell Collins’ upwards momentum has tracked that of other major aerospace suppliers recently, such as Boeing, United Technologies and Goodrich, all of which have reported solid earnings this year.
European aerospace stocks continue to suffer, with MTU Aero Engines, Rolls-Royce, and EADS all down. Bombardier shares also dropped, down 1.8%, although Embraer was 0.9% higher. Boeing shares gained 1.9%.
Selected Aviation suppliers’ daily share price movements (% change): 22-Apr-2010