These Five Stocks are Making Headlines On Wednesday

General Dynamics Up 2% on Strong Financial Results

General Dynamics Corporation (NYSE:GD)’s shares are trending higher in today’s session, after the aerospace and defense company released better-than-expected first-quarter results. The company reported diluted earnings per share from continuing operations of $2.34 for the quarter, up from $2.14 a year earlier and higher than analysts’ estimates of $2.16. First-quarter revenue was $7.72 billion, which decreased from $7.78 billion generated a year ago. Despite the year-over-year decline in the company’s top-line figure, the revenue figure came in above analysts’ expectations of $7.68 billion. General Dynamics Corporation (NYSE:GD)’s Marine Systems group was the only unit of the company’s five divisions to register positive revenue growth for the quarter. This division’s sales increased as the company completed the ramp-up in construction from one to two Virginia-class submarines per year in 2015, with 16 submarines scheduled for delivery through 2023, as well as due to development work related to the replacement of the Navy’s Ohio-class ballistic missile submarine fleet. The number of money managers from our database with stakes in the company increased to 47 from 43 during the December quarter. Ken Fisher’s Fisher Asset Management had 13,330 shares of General Dynamics Corporation (NYSE:GD) in its equity portfolio at the end of the March quarter.

Edward Lifesciences Reaches New 52-week High After Releasing First-quarter Results

Edwards Lifesciences Corp (NYSE:EW) reached a new 52-week high of $112 in today’s pre-market trading session, but the stock has lost ground since the ring of the opening bell. The medial device maker raised its full-year 2016 top- and bottom-line guidance, as strong sales of the company’s transcatheter heart valves led to higher-than-expected financial results for the first quarter. The leader in the science of heart valves and hemodynamic monitoring anticipates 2016 sales in the range of $2.7 billion-to-$3.0 billion, up from the previous guidance of $2.6 billion-to-$2.85 billion. Similarly, the full-year 2016 EPS outlook was raised to the range of $2.67 to $2.77 from $2.57-to-$2.67. An earlier-than-anticipated U.S. indication expansion for the company’s SAPIEN 3 valve also stands behind the improved guidance. Edwards Lifesciences Corp (NYSE:EW)’s adjusted EPS increased 24.6% year-on-year to $0.71, which was above the estimates of $0.66. Meanwhile, first-quarter sales grew 18.1% year-on-year to $697.3 million. Cliff Asness’ AQR Capital Management owned 3.11 million shares of Edwards Lifesciences Corp (NYSE:EW) at the end of December.