NEW YORK (TheStreet) -- Shares of Alliant Techsystems Inc. (ATK) are up 6.61% to $148.00 in pre-market trade after it was reported that the ammunition maker will merge with Orbital Sciences Corp. (ORB), after spinning off its sporting gun business, Reuters reports.
Shares of Orbital Sciences are surging, up 20.32% to $31.97 in pre-market trade.
Orbital stockholders will get 0.449 ATK shares per Orbital share, according to ATK.
- The revenue growth came in higher than the industry average of 2.5%. Since the same quarter one year prior, revenues rose by 14.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Powered by its strong earnings growth of 27.46% and other important driving factors, this stock has surged by 94.46% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, ATK should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- ALLIANT TECHSYSTEMS INC has improved earnings per share by 27.5% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, ALLIANT TECHSYSTEMS INC increased its bottom line by earning $8.32 versus $7.93 in the prior year. This year, the market expects an improvement in earnings ($9.95 versus $8.32).
- The net income growth from the same quarter one year ago has significantly exceeded that of the Aerospace & Defense industry average, but is less than that of the S&P 500. The net income increased by 27.1% when compared to the same quarter one year prior, rising from $63.18 million to $80.29 million.
- You can view the full analysis from the report here: ATK Ratings Report
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