Teledyne Technologies stock sheds 1.49% in favourable trading session
Updated
Updated · MarketWatch · May 7
Teledyne Technologies stock sheds 1.49% in favourable trading session
10 articles · Updated · MarketWatch · May 7
Shares closed at $621.38 on Friday as the S&P 500 rose 0.84% to 7,398.93 and the Dow Jones Industrial Average edged up 0.02% to 49,609.16.
The decline marked Teledyne's second straight daily loss, after a 2.07% drop on Thursday, and left the stock 10.38% below its 52-week high of $693.38 reached on 4 March.
Against peers, Northrop Grumman fell 0.50%, Emerson Electric gained 0.16%, and Roper Technologies dropped 2.59%, giving Teledyne a mixed relative performance despite the broader market's gains.
Amid recession fears, can Teledyne's defense tech boom offset the broader economic downturn and justify its bullish Wall Street price targets?
As war drives military demand, is Teledyne a safe-haven stock or is it critically exposed to the escalating global supply chain chaos?