Tue, Sep. 6, 10:29 AM
Wed, Aug. 31, 10:14 AM
- L-3 Communications (LLL -0.5%) has received a foreign military salescontract to supply eight WESCAM MX-10D electro-optical and infrared designating turrets to a Middle Eastern nation's Ministry of Defense.
- L-3 WESCAM is well known across the globe for its stabilized and multi-spectral imaging systems.
Thu, Aug. 25, 11:47 AM
- L-3 Communications (LLL +1.5%) is J.P. Morgan's new top pick among defense stocks, upgrading shares to Overweight from Neutral with a $182 price target, raised from $158, while downgrading Northrop Grumman (NOC +0.4%) to Neutral from Overweight with a $231 price target.
- The firm expects L-3 to generate 5% compound annual free cash flow growth through 2020, the second highest level among the defense stocks it covers, while the stock trades at the second lowest free cash flow multiple among the defense stocks covered.
- But JPM recommends taking profits on NOC, saying cash flow estimates are below consensus due to capex projections, the company's cash return yield is no longer exceptional, and it has a low dividend yield.
- The firm maintains Lockheed Martin (LMT +0.3%) with a Neutral rating and $284 price target.
Thu, Jul. 28, 8:24 AM
- Adjusted net income from continuing operations of $147M, or $1.88 per share vs. $113M, or $1.39 per share in the same quarter a year ago.
- Revenue by segment: Electronic Systems -2.2%; Aerospace Systems +15.4%; Communication Systems -1.8%.
- The company raised its guidance for 2016: EPS of $7.65-$7.85 (from $7.55-$7.75), on sales of $10.15B-$10.25B (from $9.95B-$10.15B).
- Q2 results
Thu, Jul. 28, 6:59 AM
Wed, Jul. 27, 5:30 PM
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Mon, Jul. 25, 10:32 AM
Thu, Jul. 21, 8:07 AM
- Lockheed Martin (NYSE:LMT) and L-3 Communications (NYSE:LLL) hit 52-week highs this week, and some analysts say they will continue to thrive independent of who wins the election in November.
- "We have seen an increase in conflict around the world, and that has not only increased U.S. defense spending, but it's also increased spending by its allies," Gina Sanchez told CNBC's Trading Nation. "Clinton is hawkish, and she's seen as likely supporting a strong military. And we know that Trump is in favor of expanding the military."
- "Defense spending is more about the threat and the state of your equipment than who is in the White House," added Richard Safran, director at Buckingham Research.
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
Thu, Jul. 7, 12:05 PM
- CAE (NYSE:CAE) announced that it has won defence contracts valued at more than C$100M to provide a range of simulation products and training support services for global military customers.
- Some of the key contracts include providing synthetic training equipment for the rotary-wing element of the UKMFTS program and managing the in-service support for the RCAF CC-130J aircraft maintenance technician training program for Lockheed Martin (NYSE:LMT); providing in-service support for the RCAF's CF-18 fleet for L-3 (NYSE:LLL).
- "Our expertise as a training systems integrator and experience on enduring military aircraft platforms is providing us numerous opportunities around the world as defence forces look to expand their use of simulation for integrated mission training," said Gene Colabatistto, CAE's Group President .
- Shares +2.75%
Tue, Jun. 21, 1:15 PM
Thu, Jun. 9, 10:07 AM
- L-3 Communications' (LLL -0.3%) Vertex Aerospace division was awarded a contract from the U.S. Air Force to provide full contractor logistics support for KC-10 aircraft.
- The total approximate value of the IDIQ contract is up to $1.9B over a nine-year performance period that begins with a July 2016 six-month phase-in.
Mon, Jun. 6, 9:23 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
Fri, May 20, 12:21 PM
- L-3 Communications (LLL +1.2%) is higher after Drexel Hamilton upgrades shares to Buy from Hold with a $152 price target, saying previous concerns about the company’s execution and risks to its aircraft programs are abating.
- Drexel says the sale of its low-margin NSS IT segment earlier this year has made L-3 into a higher-margin company that’s a near pure play on electronics in defense.
- The firm also likes that LLL is buying back its stock, and sees the company’s buyback program reducing shares outstanding by as much as 7%/year over the next several years.
- RBC Capital upgraded LLL yesterday - while downgrading Lockheed Martin and Northrop Grumman - saying its recent meeting with management offers more assurance that the company is on track to achieving its long-term goals for operating margins.
Mon, May 9, 9:29 AM
- L-3 Communications (NYSE:LLL) has reinstated the name of its aerospace sustainment and support services business to L-3 Vertex Aerospace.
- As one of four sectors within the L-3 Aerospace Systems business segment, L-3 Vertex Aerospace comprises the business areas that were previously called Logistics Solutions.