Leonardo-Finmeccanica S P A ADROTCPK - Current
Finmeccanica: You Can Fool All The People Some Of The Time
Caesar Augustus • 27 Comments
Caesar Augustus • 27 Comments
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
Mon, Jul. 11, 10:37 AM
- Thales Alenia Space, a joint venture between Thales (OTC:THLEY) and Leonardo-Finmeccanica (OTCPK:FINMY), announces the signing of a new contract with Orbital ATK (OA +0.2%) to produce additional hardware for upcoming cargo resupply missions to the International Space Station.
- Orbital is scheduled to complete 10 CRS-1 missions to the ISS before transitioning to launch cargo logistics missions under the CRS-2 contract in 2019.
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
Thu, Mar. 17, 9:40 AM
- Finmeccanica (OTCPK:FINMY) is seeking to rebrand itself as Leonardo, picking the name of the Renaissance inventor in an attempt to restore its reputation after several corruption scandals.
- The move had been expected since it was first reported in the FT last year, but CEO Mauro Moretti had wanted to wait until the company's financial performance had improved to make the transition.
- The name change was announced as Finmeccanica reported an increase in its net profit from €20M in 2014 to €527M last year.
Nov. 16, 2015, 10:33 AM
- Aerospace and defense shares are on the rise after calls to increase efforts to crush ISIS, the terrorist group responsible for Friday's attacks in France.
- Previously: World leaders wrap up G20 summit (Nov. 16 2015)
- Previously: French warplanes strike Islamic State targets in Syria (Nov. 15 2015)
- Related tickers: General Dynamics (GD +0.6%), Boeing (BA +0.2%), Northrop Grumman (NOC +3.2%), Lockheed Martin (LMT +2.5%), Raytheon (RTN +2.4%), Orbital ATK (OA +3.8%), Rolls-Royce (OTCPK:RYCEY +2.2%), Huntington Ingalls (HII +1.1%), Honeywell (HON +0.9%), United Technologies (UTX +0.4%), Airbus (OTCPK:EADSF), ITT (ITT +0.6%), Textron (TXT +1.7%), L-3 Communications (LLL +2.3%), BAE Systems (OTCPK:BAESY +2%), Finmeccanica (OTCPK:FINMY), Rockwell Collins (COL +1.7%).
Nov. 10, 2015, 11:09 AM
- The United Arab Emirates' Ministry of Defense has signed a memorandum of understanding with Anglo-Italian helicopter firm AgustaWestland to buy three AW609 tilt-rotor aircraft for search and rescue operations.
- AgustaWestland, a wholly owned subsidiary of Finmeccanica (OTCPK:FINMY), said it expected delivery of the planes to start in 2019, including options for three more aircraft.
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)
Aug. 16, 2015, 11:15 AM
- Villagers in the Oktabe District of Papua have reported an aircraft crash, several hours after a Trigana Air flight carrying 54 people went missing.
- Reports indicate that weather in the mountainous region was "very bad" at the time the plane went down.
- The aircraft involved in the crash is a twin-turboprop ATR 42-300, built by Airbus (OTCPK:EADSY) and Alenia Aermacchi (OTCPK:FINMY).
Jul. 27, 2015, 9:14 AM
- Finmeccanica (OTCPK:FINMY) is no longer looking to sell DRS Technologies due to the improved performance and brighter outlook of the U.S. electronics business.
- Separately, Finmeccanica said in a statement it had signed a contract worth a few hundred million euros to supply Qatar's army with an air surveillance and defense system.
Jun. 9, 2015, 7:44 AM
- Marking the end of a hard-fought competition, Germany has decided to buy the MEADS missile defense system built by European defense group MDBA and Lockheed Martin (NYSE:LMT), instead of the Patriot system built by Raytheon (NYSE:RTN).
- The deal that could be worth up to $4.5B to the companies involved.
- MBDA is a consortium that includes Finmeccanica (OTCPK:FINMY), Airbus Group (OTCPK:EADSY) and BAE Systems (OTCPK:BAESY).
- Previously: Lockheed, Raytheon compete for European missile deals (Mar. 04 2015)
Feb. 24, 2015, 10:00 AM
- Further expanding its transportation business overseas, Hitachi (OTCPK:HTHIY -1.7%) has agreed to pay $1B for two units from Finmeccanica (OTCPK:FINMY -2.7%), which is looking to concentrate on its core aerospace and defense businesses.
- Hitachi will pay €773M ($876.1M) for Finmeccanica’s 40% stake in rail signaling operator Ansaldo and €36M for its unprofitable train manufacturer AnsaldoBreda.
- Following the closing of the deal, Hitachi will launch a mandatory tender offer on Ansaldo’s publicly traded shares, potentially boosting its total payout to as much as $2.5B.
- Previously: Hitachi confirms bid for Finmeccanica train-making, signal assets (Dec. 17 2014)
Feb. 2, 2015, 7:07 AM
- Airbus (OTCPK:EADSY) is looking to take control of the European missile company MBDA after Finmeccanica (OTCPK:FINMY) puts its stake up for sale, reports the Sunday Times.
- The European aircraft maker wants to add Finmeccanica's 25% holding in the company, which supplies more than 90 countries with weapons, to its 37.5% stake.
- The next part of the deal could be complicated, forcing the hand of MBDA’s third shareholder, BAE Systems (OTCPK:BAESY).
Dec. 30, 2014, 7:30 AM
- Embarking on a $41B program to modernize its armed forces by 2022, Poland has received several bids in a $3B military helicopter tender, and expects to sign a final deal in the second half of 2015.
- Sikorsky Aircraft (NYSE:UTX), Airbus (OTCPK:EADSY) and AgustaWestland, a unit of Italy's Finmeccanica (OTCPK:FINMY), are among the bidders.
- Poland is aiming to increase defense spending, currently at 1.95% of its GDP, to NATO's 2% target in 2016.
Dec. 17, 2014, 11:05 AM
- A Hitachi (OTCPK:HTHIY) exec has confirmed a company bid for Finmeccanica's (OTCPK:FINMY) train-making unit AnsaldoBreda and a 40% stake in its rail signaling company Ansdaldo.
- Chief Operating Officer Toshiaki Higashihara declined to comment on the bid price, but the Nikkei previously reported that the offer was likely worth around $1.7B.
- Finmeccanica said on Tuesday it had received an offer from Insigma for AnsaldoBreda.
Sep. 23, 2014, 7:53 AM
- Finmeccanica's (OTCPK:FINMY) AgustaWestland unit has sued the U.S. Army over its recent plans to purchase 155 helicopters built by Airbus (OTCPK:EADSY).
- AgustaWestland says that its own helicopters would be cheaper to buy and operate and has asked a U.S. Court of Federal Claims in Washington to issue a temporary restraining order barring the Army from awarding the contract to Airbus.
Sep. 5, 2014, 7:59 AM
- Canada is likely to choose between two U.S. firms when it buys a new fleet of fighters jets, says Reuters quoting a source.
- The source related that Lockheed Martin's (NYSE:LMT) F-35 and Boeing's (NYSE:BA) F-18 E/F Super Hornet were deemed more suitable for the tasks the military has laid out.
- If so, the choice would result in the widely expected elimination of Dassault Aviation's (OTC:DUAVF) Rafale and the Eurofighter Typhoon, jointly made by BAE Systems (OTCPK:BAESY), Finmeccanica (OTCPK:FINMY) and Airbus (OTCPK:EADSY).