Amid the market selling pressure in recent weeks, investors should appreciate those that are on the rise.
ServiceNow (NOW) gained 13.4% on Thursday, giving it the momentum to rise again today and beyond. The firm reported strong revenue growth of 22% Y/Y, or $2.63 billion. Non-GAAP EPS was $3.13. RPO (remaining performance obligations) grew by 31% Y/Y to $18.6 billion.
NOW stock has plenty of upside from here. Consumers need this company’s software to run its operations effectively.
CBRE Group (CBRE) provides real estate solutions for clients. Its stock will open at a new high this morning at $107.43. The firm posted revenue of $8.39 billion (up by 8.7% Y/Y), non-GAAP EPS of $0.81, and raised its outlook. It expects to earn $4.70 to $4.90 a share this year.
Raytheon (RTX) closed at a new high on Thursday. It increased its sales guidance to $79.5 billion, up from $78.75 billion. Adjusted EPS is in the range of $5.35 to $5.45. CEO Chris Calio said that RTX benefited from the strength of its end markets.
Investors should continue to add firms that thrive by supplying equipment to the military industry. Northrop (NOC) and Lockheed Martin (LMT) are compelling holdings alongside that of RTX.
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