Thu, Jul. 21, 11:03 AM
- General Dynamics (GD -0.5%) NASSCO–Norfolk has been awarded a $42M cost-plus-award-fee modification to a previously awarded contract for the repair and alteration for the USS Oak Hill.
- The unit will provide ship repair services including ballast tank preservation, habitability upgrades and close-in weapons system repairs.
Tue, Jul. 19, 10:50 AM| Tue, Jul. 19, 10:50 AM
Mon, Jul. 11, 4:19 AM
- The Farnborough Airshow takes off today with executives from the aviation industry flying in to complete deals and unveil their latest technology.
- Brexit uncertainty could cloud demand for big jets, as Airbus (OTCPK:EADSY) and Boeing (NYSE:BA) look to snap up some scarce orders from the big carriers.
- Among the exhibitors: AJRD, AME, CAE, ERJ, FLIR, GD, HRS, LLL, LMT, RTN, SNA, SPR, TXT, UTX
Wed, Jul. 6, 10:21 AM
- The U.S. Navy has awarded a $116M contract modification to General Dynamics' (GD -0.5%) subsidiary Electric Boat for the continued development of the Virginia Payload Module.
- The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines, boosting strike capacity by 230%.
Tue, Jun. 14, 11:10 AM
- General Dynamics SATCOM Technologies (GD -0.4%) has completed the installation and testing of two 34-meter beam waveguide antennas as part of NASA's modernization plan for its Deep Space Network.
- "These huge antennas are precision scientific instruments that can pinpoint a location in the universe billions of miles from Earth," said General Dynamics' Mike DiBiase.
- Each antenna is the width of a football field and weighs about 600K tons.
Wed, Jun. 1, 3:49 PM
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.
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- ETFs: VNM
Wed, Apr. 27, 7:35 AM
Tue, Apr. 26, 5:30 PM
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Tue, Apr. 26, 11:33 AM
- Lockheed Martin (LMT +1.5%) is higher after reporting a Q1 earnings miss but better than expected revenues while raising its earnings forecast for the year, as the top weapons supplier to the U.S. government benefits from sales of its F-35 fighter jet and its recent acquisition of helicopter maker Sikorsky Aircraft.
- LMT raises its FY 2016 EPS guidance to $11.50-$11.80 from a January forecast of $11.45-$11.75 and in-line with $11.77 analyst consensus, slightly raises its full-year revenue outlook to $49.6B-$51.1B from $49.5B-$51B and $50.35B analyst consensus, and lifts its operating profit forecast to $5.625B-$5.775B from $5.6B-$5.75B.
- RBC aerospace analyst Robert Stallard is "encouraged by the revenue performance, which is a sign of things to come as its customer end markets improve. We had not expected a guidance increase at this early stage of the year, so that is another bonus - more than offsetting the cost of redundancies."
- LMT's positive outlook sets the stage for defense peers Boeing (BA +0.6%), Northrop Grumman (NOC +0.8%), General Dynamics (GD +1.1%) and Raytheon (RTN +0.9%), which all report later this week.
- Now read Traditional values of Lockheed Martin's equity are inaccurate
Thu, Apr. 14, 7:52 AM
- General Dynamics' (NYSE:GD) first new electric-powered destroyer for the U.S. Navy will be delivered almost three years late, according to the Pentagon’s latest schedule.
- The Navy now estimates delivery of the DDG-1000, the first of three Zumwalt-class vessels in a $22.4B program, by midyear.In 2010, the delivery was projected for September 2013 and last year for November 2015.
- The cumulative delays “are due to overall effects of shipyard production and test challenges,” according to the report sent to Congress last month and obtained by Bloomberg News.
- Now read U.S. Shipbuilding Activity
Thu, Apr. 7, 10:44 AM
- General Dynamics (GD +0.6%) has completed the construction and walk-through of the 7K square-foot radar receive array structure that is part of the U.S. Air Force Space Fence radar system.
- "The SATCOM Technologies-built array has the sensitivity to locate, identify and track objects as small as a softball, hundreds of miles above the Earth's surface," said Mike DiBiase, VP and general manager of General Dynamics Mission Systems.
- With the array structure complete, the General Dynamics Space Fence team will carefully dismantle the 700K-pound steel structure and ship it to the Marshall Islands for reassembly and integration into the Space Fence system.
- Now read Unusual Options Activity: General Dynamics
Wed, Apr. 6, 7:15 PM
- The U.S. Navy will seek $81.4B to buy 38 warships, submarines and support vessels in the next five years, Bloomberg reports.
- The new plan provides some reassurance for the likes of Huntington Ingalls (NYSE:HII), General Dynamics (NYSE:GD) and Lockheed Martin (NYSE:LMT), as well as investors and analysts who follow shipbuilding companies and their subcontractors such as Raytheon (NYSE:RTN), which specializes in maritime combat electronic systems and self-defense systems.
- The plan proposes bankrolling one new frigate each in FY 2019 and 2020 and two in 2021, for a total of $3B; The Navy plans to hold a competition for the frigate program, selecting between LMT and Austal (OTCPK:AUTLF), which both currently build versions of the Littoral Combat Ship.
- The plan also updates funds earmarked to start work on replacing the Ohio-class nuclear missile submarine, forecasting $9.25B in spending through FY 2021; the Navy last week named GD as the prime contractor, with HII the subcontractor.
Thu, Mar. 31, 12:02 PM
- The U.S. Navy has awarded funding for the planning and construction of DDG 124, the Fiscal Year 2016 Arleigh Burke-class destroyer under contract at General Dynamics Bath Iron Works (GD -0.5%).
- The $644.3M contract modification fully funds the ship, which was awarded as part of a multi-year competition for DDG 51 class destroyers in 2013.
- The total value of the five-ship contract is approximately $3.4B.
- Now read U.S. Shipbuilding Activity
Tue, Mar. 29, 8:00 AM
- The plan calls for General Dynamics (NYSE:GD) to be the prime contractor and lead design and delivery of 12 new Ohio-class replacement submarines that will carry nuclear ballistic missiles.
- Huntington Ingalls (NYSE:HII) will be a major supplier under the contract, working on design and construction of major assemblies and modules.
Thu, Mar. 24, 9:14 AM
- Deutsche Bank cuts General Dynamics (NYSE:GD) to Hold.
- Price target of $152 from $170. Implied upside 13%.
- Firm says declining asking price for the G650 business jet “will start to impede” on new orders.
- OEM production may be 20-30% above demand over medium-term.
- G650 drives 66% of Gulfstream unit’s profit.
- Now read General Dynamics: A High-Quality Double-Digit Dividend Grower »
General Dynamics Corp. operates as an aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding; and communication and information technology systems and solutions. The company operates... More
Sector: Industrial Goods
Industry: Aerospace/Defense Products & Services
Country: United States
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