General Dynamics CorporationNYSE
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  • Sat, Oct. 8, 8:25 AM
    • This is the bottom” for Honeywell's (NYSE:HON) businesses exposed to the oil and gas industries, but troubles in the business jet industry “will get worse” next year, CEO David Cote said Friday, a day after the company cut its earnings and sales forecast, causing shares to slide 7.5% in their worst showing in five years.
    • "This was a surprise," says William Blair's Nick Heymann, as HON had been considered a safe-haven stock amid sluggish industrial growth, on Cote's reputation and record of delivering on profit targets.
    • Morgan Stanley analyst Nigel Coe compared HON’s announcement to a “paella bowl” dropped in front of investors and said “credibility is becoming a growing issue.”
    • Other analysts are more confident: J.P. Morgan's Steve Tusa says "it's not that bad in the grand scheme," noting that HON’s profits are off ~5% YTD, roughly in line with its industrial peers.
    • “While this quarter and maybe next quarter look to be a little bit worse than anticipated, we still believe they’re well positioned long term to benefit from growth opportunities," according to Edward Jones' Jeff WIndau.
    • HON supplies parts to Textron (NYSE:TXT) and General Dynamics (NYSE:GD), which fell a respective 3.6% and 0.8% yesterday, while aerospace parts makers Heico (NYSE:HEI), B/E Aerospace (NASDAQ:BEAV) and TransDigm (NYSE:TDG) each slid more than 1%; also, GE slipped 0.6%, United Technologies (NYSE:UTX) fell 1.5%, and Boeing (NYSE:BA) lost 0.4%.
    | Sat, Oct. 8, 8:25 AM | 25 Comments
  • Fri, Sep. 23, 6:49 PM
    • Smith & Wesson (SWHC -0.2%) is off 3.5% after hours after its bid to replace the Army's standard sidearm, a Beretta M9, was rejected by the service.
    • "We and our partner" -- General Dynamics (GD -0.7%) -- "in the pursuit of the U.S. Army’s Modular Handgun System, or MHS, solicitation to replace the M9 standard Army sidearm have been notified by the Department of the Army that our proposal was not selected to advance to the next phase of the competition," the company says in an SEC filing.
    • That program hasn't been included in Smith & Wesson's guidance, it said.
    | Fri, Sep. 23, 6:49 PM | 35 Comments
  • Wed, Sep. 21, 10:21 AM
    • The U.S. Marine Corps Common Aviation Command and Control System, built by General Dynamics Mission Systems (GD +0.1%), successfully completed an operational test during a Marine Corps Weapons and Tactics Instructor Course in Arizona.
    • CAC2S is a command and control system that integrates information from various aerial and ground-based radar systems and sensors to enable greater joint interoperability.
    | Wed, Sep. 21, 10:21 AM | 1 Comment
  • Thu, Sep. 15, 10:36 AM
    • General Dynamics (GD +0.9%) has won a $15M contract from the Air Force Research Laboratory to develop a cloud-based threat detection and analysis platform.
    • The prototype will help analysts reduce delays in data access and extraction and provide analyses for faster delivery of enhanced intelligence.
    | Thu, Sep. 15, 10:36 AM
  • Fri, Sep. 9, 7:53 AM
    • Four U.S. senators have introduced a joint resolution seeking to block the U.S. sale of $1.15B of Abrams tanks and other military equipment to Saudi Arabia, citing issues including the conflict in Yemen.
    • In August, 64 members of the House of Representatives signed a letter urging President Barack Obama to delay the sale.
    • The U.S. Defense Security Cooperation Agency, which implements foreign arms sales, said that General Dynamics (NYSE:GD) would be the principal contractor for the sale.
    | Fri, Sep. 9, 7:53 AM | 6 Comments
  • Wed, Aug. 10, 2:40 PM
    • General Dynamics (GD +1.4%) is upgraded to Outperform from Market Perform with a $180 price target, lifted from $168, at Bernstein, which says GD shares are trading at the largest discount to other major defense companies since 2002.
    • While acknowledging that GD's Gulfstream private jet business will be hurt by weak trends, Bernstein believes that a "highly pessimistic scenario" for the sector should be already priced into the stock at current levels.
    • Meanwhile, GD's defense business should expand going forward, driven by a rising U.S. defense budget along with increased demand from foreign countries, and its IT business has exceeded expectations, the firm says.
    | Wed, Aug. 10, 2:40 PM | 2 Comments
  • Tue, Aug. 9, 11:04 AM
    • The U.S. State Department has approved the potential sale of more than 130 Abrams battle tanks, 20 armored recovery vehicles, and other equipment to Saudi Arabia, worth about $1.15B.
    • The Defense Security Cooperation Agency said the sale would contribute to the U.S. by improving the security of a regional partner and added that General Dynamics (GD +0.4%) would be the principal contractor.
    | Tue, Aug. 9, 11:04 AM | 1 Comment
  • Thu, Aug. 4, 10:59 AM
    • The U.S. Navy has been awarded a contract modification to General Dynamics Mission Systems (GD +0.2%) to improve high-frequency communications for the Navy's four-channel, AN/USC-61 Digital Modular Radios.
    • The devices increase transmission rates from radio to radio by 24% and reduce static and other noises that hinder clear, crisp voice communications quality.
    | Thu, Aug. 4, 10:59 AM
  • Wed, Aug. 3, 3:43 PM
    • General Dynamics (NYSE:GD) declares $0.76/share quarterly dividend, in line with previous.
    • Forward yield 2.06%
    • Payable Nov. 10; for shareholders of record Oct. 7; ex-div Oct. 5.
    | Wed, Aug. 3, 3:43 PM
  • Wed, Jul. 27, 1:10 PM
    • General Dynamics (GD +0.4%) is modestly higher after reporting better than expected Q2 earnings and raising its full-year earnings forecast.
    • GD delivered fewer Gulfstream jets in Q2, and aerospace sales during the period fell 5.5% Y/Y, pacing a 2.7% overall revenue decline.
    • GD says a 3% Y/Y decline in Q2 costs and expenses helped counter the sales decline and push earnings up slightly from a year ago.
    • GD says it now expects FY 2016 EPS of $9.20-$9.70, up from $9.20 previously and in-line with the $9.52 analysts consensus estimate.
    | Wed, Jul. 27, 1:10 PM | 2 Comments
  • Wed, Jul. 27, 7:34 AM
    • General Dynamics (NYSE:GD): Q2 EPS of $2.44 beats by $0.13.
    • Revenue of $7.67B (-2.7% Y/Y) misses by $200M.
    • Press Release
    | Wed, Jul. 27, 7:34 AM
  • Tue, Jul. 26, 5:30 PM
    | Tue, Jul. 26, 5:30 PM | 9 Comments
  • 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.
    | Thu, Jul. 21, 11:03 AM
  • Tue, Jul. 19, 10:50 AM
    • General Dynamics (GD +1.6%) Electric Boat wins another award, valued at $18.9M, for the continued development of the Virginia Payload Module.
    • The contract modification brings the cumulative value of the overall Virginia-class Lead Yard Services contract, initially awarded in 2010, to $1.46B.
    | 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
    | Mon, Jul. 11, 4:19 AM | 6 Comments
  • 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%.
    | Wed, Jul. 6, 10:21 AM | 13 Comments