Raytheon: A Safe Investment For A Dangerous World
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
Mon, Nov. 28, 8:52 AM
- An undisclosed member of the 13-nation group that owns the Patriot Missile Defense System has awarded Raytheon (NYSE:RTN) a $225M direct commercial sales contract for additional capability.
- Since December 2014, the partner nations have invested more than $7.2B with Raytheon in procuring and upgrading the system.
Wed, Nov. 16, 4:36 PM
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
Fri, Oct. 28, 8:52 AM| Fri, Oct. 28, 8:52 AM
Thu, Oct. 27, 7:52 AM
- Income from continuing operations $528M, or $1.79 per share vs. $448M, or $1.47 per share in the same quarter a year ago.
- Revenue by segment: Integrated Defense Systems -6%; Intelligence, Information and Services +1%; Missile Systems +9%; Space and Airborne Systems +10%.
- Bookings climbed 30% to $6.9B from the prior year period.
- Backlog at the end of Q3 was $35.8B, compared to $33.5B a year earlier.
- Repurchased 1.4M shares of common stock for $198M during the quarter.
- Raised outlook for 2016: EPS from continuing operations to $7.28-$7.38 (from $7.13-$7.33), on sales of $24.2B-$24.5B (from $24B-$24.5B).
- RTN +0.5% premarket
- Q3 results
Thu, Oct. 27, 6:57 AM
Wed, Oct. 26, 5:30 PM
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Tue, Oct. 25, 5:36 PM
- Lockheed Martin (NYSE:LMT) soared 7.3% in the stock's best showing in seven years, after Q3 results easily topped Wall Street estimates and the company raised its full-year outlook.
- LMT's "outlook for 7% revenue growth next year is pretty impressive," says Bloomberg aerospace and defense analyst Douglas Rothacker. “You’d be hard-pressed to find a defense contractor generating growth like that.”
- "The aging of equipment in allied countries, coupled with an expanding level of global security needs, are creating significant demand for our portfolio of products in multiple regions around the world," CEO Marillyn Hewson said during today's earnings conference call.
- Overall, Hewson says LMT's biggest growth area remains the F-35 followed by missile defense; only 10 F-35s were produced in Q3 vs. 12 for the year-ago quarter, which management attributes to a problem with the insulation in the plane's fuel lines and fuel tanks, and the subsequent fix.
- Other defense stocks rose today on the back of LMT's positive results; NOC +1.4% and RTN +1.5% are due to report quarterly results later this week.
Thu, Sep. 29, 8:39 AM| Thu, Sep. 29, 8:39 AM | 1 Comment
Tue, Sep. 27, 9:44 AM| Tue, Sep. 27, 9:44 AM
Thu, Sep. 22, 5:01 PM
- Imperva (NYSE:IMPV) disclosed previously it had retained Qatalyst Partners to review strategic alternatives subsequent reports the company was considering a potential sale.
- Talk now circulating has IBM, Cisco and possibly others looking to make a move.
- Update (9/23 4:07PM ET): Bloomberg reported the above-mentioned names as having expressed interest in addition to Forcepoint (NYSE:RTN) and Akamai Technologies (NASDAQ:AKAM). Though no deals materialized today, Imperva shares are nonetheless holding a 20%+ upswing on the report into the weekend.
Thu, Sep. 22, 4:20 PM
Tue, Sep. 13, 5:06 PM
- Boeing (NYSE:BA) and Saab (OTC:SAABF) today unveiled their entry into the U.S. Air Force's $11B competition for a new jet to train fighter and bomber pilots, with the company’s St. Louis hub operations on the line.
- The Boeing-Saab bid faces a fight with Lockheed Martin (NYSE:LMT), Northrop Grumman (NYSE:NOC) and Raytheon (NYSE:RTN) for the contract to produce 351 jets through the T-X advanced trainer program, and the winning entry will replace the aging T-38 fleet on which U.S. military pilots have honed their flying skills since 1961.
- The Air Force is not expected to release its final criteria until December, picking a winner next year who would begin production in fiscal 2018, and the new trainer is not spected to begin preparing a new generation of pilots for combat for another eight years.
Thu, Sep. 8, 7:53 AM
- Poland remains in talks with Lockheed Martin's (NYSE:LMT) MEADS joint venture regarding the purchase of an Medium Extended Air Defense System despite arrangements it has made with Raytheon (NYSE:RTN).
- The country this week said it would seek formal U.S. approval to buy eight Patriot missile defense systems aiming to close a deal worth an estimated $5B.
- "Raytheon is leading in this race. But if we are unable to get along, we want to have another negotiation option open," said Deputy Defense Minister Bartosz Kownacki.
Wed, Sep. 7, 2:26 AM
- Poland is seeking formal U.S. approval to buy eight Patriot missile defense systems from Raytheon (NYSE:RTN), marking a key move toward closing the estimated $5B deal.
- If cleared, the country will become the 6th NATO Patriot country and the 14th Patriot partner nation.
- Raytheon has agreed to perform at least half the value of the work in Poland.