Thu, Feb. 4, 9:42 AM
Oct. 26, 2015, 7:08 PM
- Fresh off its political victory, Canada's incoming Liberal government will totally restart a competition for fighter jets, as incoming Prime Minister Justin Trudeau had suggested.
- The country is looking to replace its aging CF-18 aircraft, and the outgoing Conservatives had proposed buying Lockheed Martin's (NYSE:LMT) F-35 stealth fighters. But a Liberal source says the party will put out a new request for proposals with a new set of requirements for the craft when it takes power Nov. 4.
- The competition will be fresh, the source suggested, rather than simply going with another choice like Boeing's (NYSE:BA) F/A-18E/F jets. Those jets are expected to end production by 2019 if not earlier, and Canada's reset could mean that choosing the CF-18's replacement could take years.
- Other contenders: Dassault Aviation (OTC:DUAVF), Saab (OTC:SAABF), and a combination of BAE Systems (OTCPK:BAESY), Finmeccanica (OTCPK:FINMY) and Airbus (OTCPK:EADSY).
- Lockheed is down 0.7% after hours; Boeing is up 0.2%.
- Previously: F-35 jet cost to rise if Canada skips orders (Oct. 22 2015)
- Previously: Trudeau's election threatens Canada's F-35 program (Oct. 21 2015)
Feb. 5, 2015, 11:01 AM
- Dassault's (OTCPK:DASTY) Q4 revenue rose 23% Y/Y to €694.1M ($791.2M), and its EPS rose 15% to €0.58 ($0.66). A weak euro provided a 3% revenue boost.
- The 3D modeling/simulation software firm is guiding for Q1 revenue of €610M-€620M (15%-17% growth in constant currency) and EPS of €0.38. Full-year guidance is for revenue of €2.7B-€2.72B (11%-12% growth in constant currency) and EPS of €2.04-€2.09.
- Software revenue rose 19% in Q4 to €608.8M, and services/other revenue 57% to €85.3M. New license revenue grew 24%. In constant currency, Americas revenue rose 29%, Europe 17%, and Asia-Pac 16%.
- Operating expenses rose 31% Y/Y to €524.6M, exceeding revenue growth. Sales/marketing spend totaled €203.8M, and R&D €111.6M. 21K new customers were added in 2014; Dassault has 190K+ altogether.
- Shares have jumped to new highs.
- Earnings Release
Mar. 10, 2014, 9:27 AM
- A weekend column titled "Beware 3-D Printing!" questions industry valuations, and suggests 3D Systems (DDD -4.2% premarket) could drop 80%.
- The column highlights Whitney Tilson's critique of 3D Systems and the company's recent warning, argues 3D printing/additive manufacturing "remains slow and cumbersome," and notes the presence of rivals such as printing services firm Shapeways and leading metal printer maker EOS.
- Barron's suggests software vendors Autodesk (ADSK) and Dassault (DASTY) are a better way to play the trend (ed: 3D printing use cases account for only a fraction of each company's sales), and notes the former's efforts to automate design work by leveraging real-life info. "The goal is for a designer to input a function, letting the computer dictate the most efficient design."
- SSYS -3.1%. XONE -3.3%. VJET -1.7%.
Jan. 30, 2014, 8:24 AM
- Dassault Systemes (DASTF) has agreed to acquire Accelrys (ACCL), a provider of scientific software for the energy, aerospace and industrial-goods sectors, for around $750M.
- Dassault is offering $12.50 a share, or a 29% premium to Accelrys' close of $9.72 yesterday.
- Shares in the company are unsurprisingly +29% premarket. (PR)
Jan. 29, 2014, 10:03 AM
- Electronic Arts (EA +0.5%) has been upgraded to Buy by BofA/Merrill following yesterday's mixed FQ3 results and FY14 guidance cut. The upgrade has helped EA turn positive.
- Tableau (DATA +1.2%) has been upgraded to Buy by Goldman ahead of its Feb. 4 Q4 report.
- Teradata (TDC -2.7%) has been cut to Sell by Goldman ahead of its Feb. 4 Q4 report.
- Dassault (DASTY +1.2%) has been upgraded to Buy by BofA/Merrill. Q4 results are due on Feb. 6.
- Vimpelcom (VIP -3.6%) has been cut to Neutral by HSBC.
- Digital Realty (DLR -2.6%) has been cut to Underperform by Macquarie. Q4 results are due on Feb. 24.
Dec. 9, 2013, 8:22 AM
- "We think recent market optimism about the 'Third Industrial Revolution' potential of 3D printing is overdone, given uncertain growth potential in the consumer market, limited pragmatic applications, and a lack of mass-production ability," says Nomura's James Kim.
- "We do not expect 3D printing to garner a meaningful share of the global manufacturing industry in the near term, with the total market size of 3D printing, as per Wohlers Associates, estimated to grow to $6B by 2017 (from $2B last year), largely falling short of the conventional manufacturing space ($93B)."
- Nevertheless, big players with consumable businesses like Stratasys (SSYS) and 3D Systems (DDD) and pure raw materials supplies could be long-term beneficiaries of 3D printing development, says Kim.
- Also mentioned is ExOne (XONE) for its binder jetting technology currently employed by Ford to create part prototypes, and Organovo (ONVO) for 3D bioprinting technology to create functional human tissue.
- On the 3D printing software side, Dassault (DASTY), Autodesk (ADSK), ANSYS (ANSS), and PTC (PMTC) get a mention, while Proto Labs (PRLB) is noted in services.
Oct. 15, 2013, 9:29 AM
- Teradata (TDC) has been cut to Neutral by Credit Suisse and Sterne Agee, and to Equal Weight by Morgan Stanley, following its Q3/2013 warning. Shares -14.9% premarket.
- Dassault (DASTY.PK) has been cut to Underweight by HSBC a day after the company reported weaker-than-expected preliminary Q3 results and cut its full-year guidance. Shares -3.2% in Paris.
- FireEye (FEYE) has received three bullish coverage launches and four neutral ones on underwriter coverage day. Shares +0.6%.
- Texas Instruments (TXN) has been upgraded to Neutral by Susquehanna. Shares +0.5%.
- Cogent (CCOI) has been upgraded to Buy by Citi.
- Veeco (VECO) has been cut to Market Perform by Oppenheimer.
- Marvell (MRVL) has been started at Outperform by Raymond James.
Oct. 14, 2013, 5:19 PM
- Dassault (DASTY.PK) fell 10.5% in Paris after reporting preliminary Q3 revenue of €496 ($673M, +4% Y/Y exc. forex), below guidance of €520M. EPS fell 1% €0.88 ($1.19). €12M of the shortfall is blamed on deal slippage (particularly in Asia), €4M on weaker-than-expected services revenue, and €8M on a shift among SMB clients towards rental/subscription licensing relative to up-front payments.
- While revenue rose 7% Y/Y in Europe, it only rose 2% in Asia and 1% in the Americas. Importantly, new license revenue (drives future revenue streams) fell 10% Y/Y. Recurring software revenue (77% of total) rose 8%.
- In addition, the 3D product design/testing software firm guided on a CC (transcript) for full-year revenue growth of 4%-5%, below a prior 7%-8%. Q4 revenue is expected to total at least €565M ($766M, +5% Y/Y exc. forex), and EPS guidance is set at €0.97.
- Full Q3 results arrive on Oct. 24.
Mar. 28, 2013, 2:39 PM
3D printing plays trade higher following ExOne's (XONE +7.9%) market-pleasing Q4 results and 2013 guidance. DDD +4.1%. SSYS +1.1%. DASTY.PK +1.3%. CIMT +2%. FBR remains bullish on ExOne, and thinks the company is "at the cusp of transitioning to a higher-growth mode." "We like ExOne’s unique positioning in the 3D industry, with its binder jetting technology and ability to print in sand and metal at relatively fast speeds in addition to low costs."| Mar. 28, 2013, 2:39 PM | 1 Comment
Jul. 15, 2012, 5:18 AM
Boeing (BA) reportedly offers to share more technology with Brazil if the government upgrades its Air Force with the U.S. company's F-18 Super Hornet jets. Boeing, which is vying with France's Dassault for the multi-billion dollar deal, would give Brazilian firms the chance to make components for the F-18 and for other projects.| Jul. 15, 2012, 5:18 AM | 3 Comments
Jan. 31, 2012, 8:21 AM
Nov. 2, 2010, 11:09 AM
As part of closer military ties between Great Britain and France, BAE Systems (BAESY.PK +0.6%) and Dassault Aviation (DASTY +0.7%) have made a joint proposal to develop unmanned planes for the two countries. While collaboration makes sense under budget pressures, the two face competition from EADS (EADSY.PK +2.5%).| Nov. 2, 2010, 11:09 AM