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General Dynamics Corporation (GD)

- NYSE
  • Jul. 10, 2013, 11:47 AM
    Deutsche's Myles Walton raises the price target on Boeing (BA +0.4%), General Dynamics (GD +1.1%), L-3 Communication (LLL +1.2%), Precision Castparts (PCP +0.3%), and Triumph Group (TGI -0.1%) as the bank says "recent IATA air traffic and capacity figures point to modest acceleration, which should drive positive commentary on earnings calls." Walton sees double-digit Y/Y growth in commercial original equipment manufacturers, sequential growth in aftermarket sales, and says investors may see "a small uptick to guidance" for BA going forward. New PT for BA is $125. (See also: UBS bullish on PCP; GD could get Jones Act boost)
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  • Jul. 1, 2013, 2:35 PM
    General Dynamics (GD +1.1%) Electric Boat division lands a $208.6M contract modification to buy long lead-time material for three Virginia-class submarines. GD will start construction of two submarines per year beginning in 2011, and covers the Virginia-class submarine, SSN-793, and two FY 15 submarines, SSN-794 and SSN-795.
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  • Jun. 28, 2013, 2:05 PM
    The U.S. oil "production boom has transformed [the country's] once-moribund commercial shipbuilding industry," FT writes, noting that under the Jones Act, any ship "operating between two U.S. ports [must] be built in a U.S. shipyard." With a vessel shortage driving lease rates to record levels (previous), beneficiaries may include Oslo-listed Aker and General Dynamics (GD +0.3%), which operates Nassco shipyard.
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  • Jun. 5, 2013, 5:36 PM
    General Dynamics (GD) declares $0.56/share quarterly dividend, in line with previous. Forward yield 2.92 %. For shareholders of record July 5. Payable August 9.Ex-div date July 3. (PR)
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  • Jun. 4, 2013, 3:56 PM
    The House defense appropriations subcommittee produces a draft proposal that includes funding for all 29 Lockheed Martin (LMT -0.2%) F-35 fighters requested by the Pentagon. The proposal also includes funding for: two SSN-774 Huntington Ingalls (HII +0.8%) / General Dynamics (GD -0.3%) attack subs, four Littoral Combat Ships (previous) from LMT and Austal (AUTLF.PK), a total of 110 helicopters made by United Technologies (UTX -0.9%), and 21 manufactured by Boeing (BA -0.9%). The total amount earmarked for "equipment procurement": $98.4B. (the bill)
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  • Jun. 4, 2013, 3:36 AM
    Huntington Ingalls (HII) has won a 10-year $3.33B order from the U.S. navy to build five DDG 51 destroyers, with the company set to earn a profit of 14% on the deal. General Dynamics (GD) has received a $2.84B order for four of the warships plus an option for an additional vessel. Meanwhile, Huntington Ingalls CEO Mike Petters has said that the company is on course to increase its profit margins and keep distributing dividends over the coming years despite what are expected to be flat revenues. (PR)
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  • May. 15, 2013, 4:37 PM
    Buffett buys Chicago Bridge & Iron (CBI +1.5% AH), the Berkshire (BRK.A) 13F filing showing a new position valued at more than $400M. Missing from the portfolio are previously held positions in General Dynamics (GD no change AH) and Archer Daniels Midland (ADM -1% AH).
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  • Apr. 26, 2013, 4:42 PM
    Defense companies post strong gains on the week after reports from Raytheon (earnings), Lockheed Martin (earnings), Boeing (earnings), General Dynamics (earnings), and Northrop Grumman (earnings). In a note raising his price target on RTN ($63), Credit Suisse analyst Robert Spinarn summarizes the sector's strong quarterly results: "RTN's Q1 mirrored that of its peers, with a strong EPS beat against consensus, driven by sales and margins [and] in keeping with what we've seen at GD, LMT, and NOC, RTN's FY guidance now incorporates its assessment of the Sequester." On the week: LMT +2.49% , RTN +5% , NOC +4.4% , BA +5.2% , GD +8.89%.
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  • Apr. 24, 2013, 10:49 AM
    General Dynamics (GD +5.3%) posts a mixed Q1, missing slightly on revenue but easily beating on a per share basis. Net earnings rose 1.2% Y/Y, as a 19% sales decline in its combat systems segment was offset by lower costs and growth in its other business units. Operating margin rose to 11.4% from 11.3%. Net interest expenses were down 41%. Total backlog declined to $48.5B from $55.2B a year earlier.
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  • Apr. 24, 2013, 7:04 AM
    General Dynamics (GD): Q1 EPS of $1.62 beats by $0.12. Revenue of $7.4B misses by $0.18B. (PR)
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  • Apr. 24, 2013, 12:05 AM
    Notable earnings before Wednesday’s open: ABB, ABX, ASH, ATI, AVY, BA, BYD, CFR, CKSW, COR, CP, CS, CVE, DPS, EDU, ELN, EMN, ERIC, F, FDML, GD, GLW, GRA, HCBK, HES, ICON, LAD, LL, LLY, LO, MDCO, MSI, MTH, NDAQ, NOC, NS, NVS, NYCB, OC, OCR, OSIS, PG, PLD, PX, RES, ROK, S, SO, SVU, TEL, TKR, TMO, TROW, TUP, USG, VLY, VMED, WAB, WHR, WLP, WM, WYN
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  • Apr. 23, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: ABB, ABX, ASH, ATI, AVY, BA, BYD, CFR, CKSW, COR, CP, CS, CVE, DPS, EDU, ELN, EMN, ERIC, F, FDML, GD, GLW, GRA, HCBK, HES, ICON, LAD, LL, LLY, LO, MDCO, MSI, MTH, NDAQ, NOC, NS, NVS, NYCB, OC, OCR, OSIS, PG, PLD, PX, RES, ROK, S, SO, SVU, TEL, TKR, TMO, TROW, TUP, USG, VLY, VMED, WAB, WHR, WLP, WM, WYN
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  • Apr. 22, 2013, 2:03 PM
    General Dynamics (GD -1%) gets a $20M contract extension from the U.S. Navy for the operation of the Nuclear Regional Maintenance Department. The contract's potential value is $164M if it is extended over its maximum five-year life.
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  • Apr. 15, 2013, 3:23 PM
    2012 marked the first annual contraction in global defense spending in a decade and a half according to Bloomberg, quoting the Stockholm International Peace Research Institute. Between austerity in Europe and the scaling back of defense expenditures associated with Afghanistan in the U.S., global military expenditures were down 0.5% last year in real terms. China meanwhile, increased its outlays by nearly 8% and may overtake the U.S. in less than 10 years. 
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  • Apr. 11, 2013, 4:55 PM
    Harris (HRS) -6.8% AH after warning it expects FQ3 (March quarter) revenue of $1.2B and EPS of $1.12, below a consensus of $1.32B and $1.26. The company is also lowering its FY13 EPS guidance range to $4.60-$4.70 from $5-$5.20, and is now forecasting a 6%-7% Y/Y revenue drop for the year - the consensus is for EPS of $5.03 and a 3.5% drop. Harris primarily blames soft tactical radio orders, due to U.S. government budget uncertainty and the "increased likelihood" international orders will be pushed out into early FY14. GD -0.8%. CSC -0.7%. (PR)
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  • Apr. 3, 2013, 9:51 AM
    Buy German appears to be one of the CBO's preferred options for a tank-like Ground Combat Vehicle that is being developed to replace the Bradley Fighting Vehicle, which is made by BAE (BAESF.PK). The CBO reckons that the U.S. Army could save $14B and get a better product if it chooses the "Puma" over vehicles from GD and BAE. Alternatively, upgrading the Bradley and dropping the GCV would save $9B from 2014-2030.
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Company Description
General Dynamics Corp is an aerospace and defense company. It offers products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding; and communication and information technology systems and solutions.