Oct. 10, 2014, 3:07 PM
- Revising its Q2 numbers in a 10-Q filing, L-3 Communications (LLL +11.2%) identified material weaknesses in internal controls over financial reporting, and says it received subpoenas from the SEC and Justice after contacting authorities over the summer about the issues.
- Share repurchases during Q2 totaled 1.68M, or roughly 2% of the float.
Jul. 31, 2014, 12:45 PM
Aug. 1, 2011, 4:33 PMAside from Medicare-dependent firms (I, II), defense contractors (PAA -1.2%) also have much to fear from "devastating" cuts via a debt deal. The Pentagon would take fully 50% of cuts imposed by any triggered second round of $1.2T in cuts, Lazard analyst Michael Lewis warns. LMT -1.7%, RTN -0.9%, NOC -1.5%, GD -0.9%, SAI -2.7%, LLL -3.2%. | 2 Comments
Jun. 22, 2011, 10:23 AMActivist investment firm Relational Investors is expected to report that it has become the largest shareholder in L-3 Communications (LLL +4.7%) and is pushing for a breakup of the defense firm, WSJ reports. Relational reportedly wants L-3 to get rid of what it believes are low-margin or slow-growing businesses, including its government services unit. | Comment!
May 23, 2011, 2:52 PM
Apr. 13, 2011, 3:37 PMAll the talk about budget cuts, including Obama’s plan, sparks a Goldman warning on the defense sector: "Declines in base investment in 2011 outcome represent an outcome worse than we expected when we first downgraded the Defense sector," and 2012 cuts will be "similar to if not more than" 2011. LMT -2.5%, NOC -2%, LLL -1.7%, RTN -2.8%, GD -1.2%, BA -1.3%. | 2 Comments
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L-3 Communications Holdings Inc is engaged as a system contractor in aircraft modernization & maintenance, Command, Control, Communications, Intelligence, Surveillance and Reconnaissance systems, and government services.
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