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  • Yesterday, 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
    | Yesterday, 4:00 AM | 12 Comments
  • Wed, Nov. 30, 10:22 AM
    • Lockheed Martin (LMT) sees 7% revenue growth in 2017 and expects annual sales rising 3%-5% over the "next few years."
    • Currently gets 60% of sales from DoD and there is "bipartisan support for more defense spending." The company is hopeful the sequestration will be removed from the FY18 U.S. budget.
    • Sikorsky integration is proceeding well - on track to achieve $150M in Sikorsky synergies by 2018 - but says helicopter sales will only rebound when oil prices rise.
    • Sees F-35 as biggest growth driver over next five years and expects about 50% of F-35 orders to come from outside the U.S.
    | Wed, Nov. 30, 10:22 AM | 3 Comments
  • Tue, Nov. 29, 8:45 AM
    • Colombia's civil aviation authority has approved the Offshore and Utility Type Certificate for Sikorsky's (NYSE:LMT) S-76C series (C, C+, C++), S-76D and S-92A helicopters.
    • The certificate enables Colombia's commercial aviation operators to add the multi-role helicopters for transportation of workers or cargo.
    | Tue, Nov. 29, 8:45 AM
  • Mon, Nov. 28, 4:18 AM
    • Israel has approved the purchase of 17 Lockheed Martin (NYSE:LMT) F-35 stealth fighter jets from the U.S., bringing its total number on order to 50.
    • Although a price wasn't disclosed, it will likely set Israel back at least $1.7B, not including maintenance costs.
    • Lockheed is developing three versions of the F-35 Lightning II jets for the U.S. military and nine countries that have already placed orders.
    | Mon, Nov. 28, 4:18 AM | 3 Comments
  • Thu, Nov. 24, 2:47 AM
    • Lockheed Martin (NYSE:LMT) has been awarded a $7.19B contract for 90 F-35 Lightning II jets, the biggest order yet.
    • The contract is a modification to a previously awarded low-rate initial production contract, the Pentagon said in a statement.
    | Thu, Nov. 24, 2:47 AM | 9 Comments
  • Mon, Nov. 21, 10:29 AM
    • Lockheed Martin's (LMT) Aeronautics business division has secured a $1.2B foreign military sales contract for upgrading Korean F-16 fighter jets.
    • Work will be performed at Fort Worth, Texas, and is expected to be complete by Nov. 15, 2025.
    | Mon, Nov. 21, 10:29 AM
  • Sun, Nov. 20, 4:30 AM
    • "Given the outcome of the congressional election and learning more specifically who is (and isn’t) involved as space advisers, I anticipate a larger appetite for a change agenda and a better than expected potential to get at least some of their agenda accomplished," Lori Garver, former No.2 at NASA writes.
    • Expected areas of change: i) NASA’s bureaucracy/infrastructure is much too large and expensive. ii) NASA shouldn’t be spending so much money on Earth sciences. iii) The Moon is a better and more important destination than Mars. iv) Entrepreneurial space should play a larger role in all aspects of space. v) Space activities cut across international, civil, military and commercial arenas and should be run out of the White House, by a National Space Council, reporting to Vice President Pence.
    • She also takes a few parting shots at the departing administration: "NASA Administrator Charlie Bolden’s perceived lack of enthusiastic support of the White House agenda gave an opening to the opposition. Without a willingness to take on these special interests, the administration made a Faustian bargain to secure congressional support for Earth sciences, technology and commercial crew, in exchange for support of developing a large expendable rocket (the Space Launch System or SLS) and deep space capsule (Orion) for human spaceflight.  While these parochial interests still exist, a Trump White House has the opportunity to more effectively defend its own agenda."
    • Stocks potentially impacted: AVAV, B, BA, GLOB, HON, I, JEC, LMTOTCPK:MDDWF, MOG.A, OA, SAIC, SPACET
    | Sun, Nov. 20, 4:30 AM | 34 Comments
  • Wed, Nov. 16, 3:48 PM
    • The operator of Lockheed Martin's (LMT -0.9%) blimp-like hybrid airships announces its first customer, Canada's Quest Rare Minerals (OTC:QRMLF), which expects to lease seven of the cargo aircraft.
    • The deal between operator Straightline Aviation and Quest is valued at US$850M, including fuel costs, over a 10-year period starting in 2019.
    • Quest says it plans to use the airships to provide dedicated air services at its Strange Lake complex mine site in northern Quebec.
    • LMT has said the airships, which can move 20 tons of cargo and set down on nearly any flat surface, will revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads.
    | Wed, Nov. 16, 3:48 PM | 1 Comment
  • Mon, Nov. 14, 12:27 PM
    • Lockheed Martin (LMT +2.2%) is upgraded to Buy from Hold with a $290 price target, raised from $260, at Stifel, which cites encouraging commentary about 2018 free cash flow and to a lesser degree the outcome of the election, which could drive incremental defense spending dollars to LMT.
    • Given LMT's continued strong execution on F-35, Stifel says it is less concerned about recent pressure associated with news that F-35 contract terms were more onerous than expected, and it suspects that higher volumes should additional aircraft be added to LRIPs will offset any modest potential margin pressure in 2018.
    | Mon, Nov. 14, 12:27 PM
  • Mon, Nov. 14, 9:58 AM
    • Stifel upgraded the defense contractor to Buy from Hold based on expectations for defense spending under a Trump administration.
    • The firm also hiked Lockheed's (LMT +1.8%) price target to $290 from $260.
    | Mon, Nov. 14, 9:58 AM | 2 Comments
  • 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.
    | Thu, Nov. 10, 6:36 PM | 10 Comments
  • 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
    • #Election2016
    | Wed, Nov. 9, 5:34 AM | 60 Comments
  • Tue, Nov. 8, 3:28 PM
    • Lockheed Martin (LMT) first modernized Tactical Missile System missile has completed a successful first flight test in New Mexico.
    • The missile was launched from a High Mobility Artillery Rocket System at a target area more than 130 kilometers away, precisely hitting the target with a proximity sensor-enabled detonation. All test objectives were achieved.
    | Tue, Nov. 8, 3:28 PM
  • Fri, Nov. 4, 11:47 AM
    • Lockheed Martin (LMT -0.1%) shares have shed nearly 3% since the Defense Department ended more than year of talks with the company and said it was imposing a new $6.1B deal for the next batch of 57 F-35 jet fighters that start delivering next year.
    • The deal is by far the largest the Pentagon has struck without reaching agreement with its supplier, contracting experts say, and LMT says it plans to evaluate its options, which could include a court appeal.
    • The core of the impasse is the Pentagon’s take on how much the jets cost to build and how much profit is afforded to LMT; the terms cut the average cost of a each F-35 airframe - not including the engine - to near its target of $100M, and the DoD aims to lower this to well below $80M by 2019.
    • The fighters would be purchased for 3.7% less than the previous lot, potentially squeezing margins for LMT’s largest source of profit, says Jefferies defense analyst Howard Rubel; the F-35 accounted for 23% of LMT’s revenue through September, and the total likely will reach 25% next year, he says.
    | Fri, Nov. 4, 11:47 AM | 7 Comments
  • Wed, Nov. 2, 6:20 PM
    • Lockheed Martin (NYSE:LMT) has concluded negotiations with the U.S. Defense Department on a contract for 57 F-35 fighter jets after 14 months of negotiations on the $6.1B-plus deal.
    • Reuters reports the contract will provide profit margin certainty to LMT and its partners - including Northrop Grumman (NYSE:NOC), Pratt & Whitney (NYSE:UTX) and BAE Systems (OTCPK:BAESF, OTCPK:BAESY) - who have been producing the jet under a placeholder agreement.
    • However, LMT says the contract was "not a mutually agreed upon contract, it was a unilateral contract action, which obligates us to perform under standard terms and conditions, and previously agreed-to items."
    • Another production contract, a 94-plane deal, is said to remain under negotiation.
    | Wed, Nov. 2, 6:20 PM | 10 Comments
  • Wed, Nov. 2, 7:46 AM
    • The Pentagon will need as much as $500M extra to finish the development phase for Lockheed Martin's (NYSE:LMT) F-35, the most expensive U.S. weapons system ever.
    • The F-35 program office made the request during a closed-door review last month by the Defense Acquisition Board, according to Bloomberg.
    • The call comes as the Pentagon's chief weapons tester issued a fresh warning that the aircraft, projected to cost $379B for a fleet of 2,443 U.S. planes, is far from showing it has full combat capability.
    | Wed, Nov. 2, 7:46 AM | 7 Comments