BAE Systems PLC ADROTCPK - Current
Thu, Dec. 1, 3:48 AM
- The plane that crashed in Colombia on Monday night killing almost an entire Brazilian soccer team was running out of fuel, had no electrical power, and was preparing for an emergency landing.
- The BAe 146, made by BAE Systems (OTCPK:BAESY), slammed into a mountainside in the Andes after a chaotic exchange with the air traffic tower, but failed to make a formal early distress call.
Thu, Nov. 10, 10:11 AM
Wed, Nov. 9, 5:34 AM
- Donald Trump has called for eliminating the sequester on defense spending and initiating a military buildup, boosting troop levels and the number of ships and aircraft.
- He seeks to fully offset the cost through "common sense reforms that eliminate government waste and budget gimmicks" and additional payments from countries where the U.S. has military bases, including Germany, Saudi Arabia and Japan.
- Premarket movement: LMT +4.5%, RTN +1.7%, GD, BA, NOC, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
Wed, Nov. 2, 6:20 PM
- Lockheed Martin (NYSE:LMT) has concluded negotiations with the U.S. Defense Department on a contract for 57 F-35 fighter jets after 14 months of negotiations on the $6.1B-plus deal.
- Reuters reports the contract will provide profit margin certainty to LMT and its partners - including Northrop Grumman (NYSE:NOC), Pratt & Whitney (NYSE:UTX) and BAE Systems (OTCPK:BAESF, OTCPK:BAESY) - who have been producing the jet under a placeholder agreement.
- However, LMT says the contract was "not a mutually agreed upon contract, it was a unilateral contract action, which obligates us to perform under standard terms and conditions, and previously agreed-to items."
- Another production contract, a 94-plane deal, is said to remain under negotiation.
Tue, Sep. 27, 10:23 AM| Tue, Sep. 27, 10:23 AM
Wed, Jul. 20, 5:40 PM
- The U.K. remains firmly committed to buying 138 Lockheed Martin (NYSE:LMT) F-35 jets in spite of currency fluctuations caused by last month’s Brexit vote, but is pressing the U.S. Department of Defense to wrap up negotiations over the next two contracts for the potential $15B purchase.
- U.K. Defense Secretary Fallon says he is "chomping at the bit to get on with” the contracts, which would include nine short-takeoff and vertical-landing aircraft, noting that there is no alternative aircraft that can operate off the country’s two new aircraft carriers being specially outfitted to launch and recover them.
- The Pentagon has been negotiating with LMT since last year over a ninth and 10th production contract; U.K.-based companies including BAE Systems (OTCPK:BAESF, OTCPK:BAESY) produce ~15% of each aircraft as part of work-share agreements.
- LMT said yesterday that it is negotiating final contract terms but that current funding is “insufficient to cover the production process," and that it has ~$900M of potential cash exposure and $3B in termination liability exposure related to the contracts.
Mon, Jul. 11, 12:30 PM
- The price of Lockheed Martin's (LMT +1.3%) F-35 fighter jet has dropped 57% as commercial sales ramp up, and "we're on a path to be down to a price of an $85M jet by 2019, which is comparable to a fourth generation aircraft," CEO Marillyn Hewson tells CNBC from the Farnborough air show.
- The CEO says LMT expects to sell 3,000 jets in coming decades, with production likely peaking at 170-180 planes/year around 2023, as countries around the world do not see global security challenges diminishing.
- Also, the U.S. Defense Department says it is extending by two years a project of cost-cutting initiatives for the Pentagon's costliest arms program, which includes an agreement by LMT and key suppliers Northrop Grumman (NOC +0.4%) and BAE Systems (OTCPK:BAESY +1.4%) to invest up to $250M in projects aimed at cutting the cost of operating and maintaining the jets, with a goal of saving $1B over five years.
- Shares earlier hit $256.32, an all-time high.
Wed, Jun. 22, 8:46 AM
- Space "is a new frontier," said Tom Arseneault, Chief Operating Officer of BAE Systems (OTCPK:BAESY). "It is an area where full-up electronic-warfare capability is of increasing interest."
- Protecting space systems from attack is now emerging as a growth opportunity for the company, particularly given the Pentagon’s worries about safeguarding some of its most sensitive spacecraft.
Tue, Jun. 21, 10:22 AM| Tue, Jun. 21, 10:22 AM
Mon, May 23, 3:21 AM
- President Obama kicked off his three-day visit to Vietnam with an announcement declaring the end of a U.S. arms embargo on the country, a ban that had been in place for decades.
- "We've come here as a symbol of the renewed ties....and the comprehensive partnership we have created over the course of my presidency," Obama said at a press conference.
- The trip will also see the nations discuss the Trans-Pacific Partnership, which is expected to usher in a new period of growth for export-oriented Vietnam.
- Related tickers: GD BA, NOC, LMT, RTN, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
- ETFs: VNM
Wed, Mar. 30, 9:30 AM
- Drone Aviation (OTCQX:DRNE) has been awarded a contract to upgrade existing U.S. Government-owned Winch Aerostat Small Platform tactical aerostat systems from DoD prime contractor BAE Systems (OTCPK:BAESY).
- The contract, valued at $194K, will enable enhanced flight operations and greater payload flexibility.
Mon, Mar. 7, 5:17 PM
- The U.S. Air Force selects the Pratt & Whitney unit of United Technologies (NYSE:UTX) to build the engines for the Northrop Grumman's (NYSE:NOC) new $80B long-range strike bomber, while six other contractors are chosen to work on unspecified "airframe or mission systems."
- Analysts had expected Pratt & Whitney's selection as the engine supplier since the company already builds engines for the Lockheed-built F-35 combat jet.
- The other key suppliers are BAE Systems (OTCPK:BAESF, OTCPK:BAESY) and GKN (OTC:GKNCF), both based in the U.K., as well as Spirit AeroSystems (NYSE:SPR), Orbital ATK (NYSE:OA), Rockwell Collins (NYSE:COL) and Janicki Industries.
- NOC recently resumed work on developing the plane after Boeing and Lockheed dropped a protest when they lost the main contract.
Mon, Feb. 15, 5:00 AM
- BAE Systems (OTCPK:BAESY) has confirmed the appointment of oil-industry executive Charles Woodburn as chief operating officer, making him heir apparent to the company's long-standing Chief Executive Ian King.
- The U.K.'s biggest arms maker and a major Pentagon supplier had been exploring succession options for some time.
- Previously: BAE puts Woodburn on radar as next CEO (Feb. 14 2016)
Sun, Feb. 14, 9:47 AM
Tue, Feb. 2, 7:26 AM
- Reliance Steel's (NYSE:RS) subsidiary, AMI Metals, has been awarded a multi-year contract by BAE Systems (OTCPK:BAESY) to provide aluminum plate to support the requirements for the F-35, Hawk, and Typhoon programs.
- The five-year contract, with an estimated value of $100M, runs from Jan. 1, 2017 through Dec. 31, 2021, with the possibility of additional years.
Thu, Jan. 7, 9:12 AM
- BAE Systems (OTCPK:BAESY) has awarded PAR Tech's (NYSE:PAR) wholly-owned subsidiary, Rome Research Corporation, a subcontract valued at $12.9M.
- Under the deal, PAR will provide critical C4I and Strategic Communications throughout the Pacific theater and Indian Ocean for the DoD, National Security Agency, Missile Defense Agency, Homeland Security and allies.