L-3 Communications Holdings Inc.NYSE
Thu, Dec. 1, 4:00 AM
- The EU plans to boost its defense budget to its highest level in over a decade, setting up a €5B fund and sending a signal to Donald Trump that it intends to pay for its own security.
- "This is not about an EU army, this is not about spending on the military instead of social security," European Commission Vice President Jyrki Katainen said. "We face multiplying threats and we must act."
- Related tickers: LMT, RTN, GD, NOC, OA, HII, HON, UTX, ITT, TXT, LLL, COL
Tue, Nov. 22, 5:36 PM
- L-3 Communications (NYSE:LLL) agrees to acquire U.K.-based MacDonald Humfrey Automation for ~£224M ($280M), in a bid to strengthen its position in the global aviation security market.
- MacDonald Humfrey develops automated airport checkpoint security scanners that are widely used in Europe and elsewhere, and were introduced at Chicago’s O’Hare International Airport this month.
- The purchase price is subject to an upward adjustment of up to £30M ($37.5M) based on MacDonald Humfrey’s post-acquisition performance for the next three years.
Mon, Nov. 14, 10:50 AM| Mon, Nov. 14, 10:50 AM
Thu, Nov. 10, 6:36 PM
- Northrop Grumman (NYSE:NOC) and L-3 Communications (NYSE:LLL) are upgraded to Overweight from Equal Weight, and Lockheed Martin (NYSE:LMT) is upgraded to Equal Weight from Underweight at Barclays, as the Trump victory arguably gives new life to a bullish trade that's now less based on safe-haven status and more on absolute vs. relative growth.
- Details on budget and national security changes under Trump are scarce, but Barclays believes the market will assign a 100% probability to the prospect of higher defense budgets in the near future; for defense stocks, the near term is not about fundamentals or estimate revisions per se - which the firm thinks will not change much - but instead about the simplistic view that defense spending under Trump will be higher.
- Also, the firm shifts its neutral posture on defense to positive, on the belief that shares stay well bid in short-to-medium term.
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, Oct. 31, 4:55 AM
- Hawkers of civil and military aircraft - and the money to finance them - will try to drum up new business at aerospace expos this week, conscious their high-risk industry is approaching a turning point.
- China's biggest aviation event - Airshow China - starts in Zhuhai tomorrow. A defense trade show will also take place in Jakarta and an air finance conference in Hong Kong, as well as the annual U.S. business jet jamboree in Orlando, Florida.
- Among the U.S. exhibitors: AME, BA, ERJ, HON, HXL, LLL, LMT, SNA, TKR, TXT, UTX
Thu, Oct. 27, 8:58 AM
- Adjusted net income from continuing operations of $148M, or $1.88 per share vs. $165M, or $1.54 per share in the same quarter a year ago.
- Revenue by segment: Electronic Systems -0.2%; Aerospace Systems -5.1%; Communication Systems -0.6%.
- Raised guidance for 2016: EPS of $7.85-$7.95 (from $7.65-$7.85), on sales of $10.25B-$10.35B (from $10.15B-$10.25B).
- Preliminary guidance for 2017: Diluted EPS of $8.25, with net sales growth of 1%-2%.
- LLL -0.5% premarket
- Q3 results
Thu, Oct. 27, 6:58 AM
Wed, Oct. 26, 5:30 PM
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Tue, Oct. 18, 10:29 AM
Mon, Oct. 10, 9:41 AM
- Implant Sciences has agreed to sell the explosives trace detection assets to L-3 Communications (LLL +0.5%) for $117.5M in cash, plus the assumption of specified liabilities.
- Following the proposed acquisition, the assets will be integrated into L-3's Security & Detection Systems division within its Electronic Systems segment.
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