5d 1m 3m 1y 5y 10y
There are no Transcripts on ITA.
ITA vs. ETF Alternatives
The iShares Dow Jones U.S. Aerospace & Defense Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Aerospace & Defense Index.
See more details on sponsor's website
See more details on sponsor's website
Monday, Apr 79:10 AM
Monday, Apr 79:10 AM| Comment!
- Twitter's down 32% this year, Facebook's off 20% in a month, and biotech nearly that much, but money is returning to the industrial sector. While the Nasdaq 100 posted its worst one-day drop since 2011 on Friday and last week fell for the 3rd week in 4, the Industrial Select SPDR (XLI) gained 1.6%.
- In the year's first quarter, the XLI had lost 1.4%, putting it in 9th place among 10 S&P 500 groups.
- "You’re seeing the beginning of investors shifting money ahead of a wave of spending,” says Drew Nordlicht of HighTower Advisors. “The expectation is, as the economy begins to kick into a higher gear, corporate America will utilize the amount of cash to spend on capital expenditures."
- GE comprises more than 10% of the XLI, and UTX, Union Pacific, Boeing, and 3M round out the top 5, each with holdings in the 5% range.
- Related ETFs: XLI, PHO, CGW, PIO, VIS, ITA, FIW, PPA, IGF, CARZ, IYJ, XAR, IPN, EMIF, FIDU, PRN, UXI, FXR, PXR, EXI, GII, EVX, FLM, RGI, SIJ, PSCI, NFRA, TOLZ, AXID
Wednesday, Jul 242013, 3:49 PMWhat sequester? Handily beating the S&P 500 this year are two aerospace and defense ETFs, ITA and PPA. Both have added to gains the last few sessions as top holdings Boeing (BA), Lockheed Martin (LMT), Northrop Grumman (NOC), and General Dynamics (GD) all posted earnings beats even as defense spending has been slashed. International and commercial orders are helping, but so are long-term contracts. "We are not out of the woods at all," says Boeing CEO Jim McNerney on the earnings call (transcript). "We are entering the woods." |Wednesday, Jul 242013, 3:49 PM| 4 Comments
Friday, Feb 222013, 3:57 AMFrank Kendall, the Under Secretary of Defense for Acquisition, has authorized the Pentagon's purchasers and program managers to start talking to suppliers about the plans for implementing $46B of automatic cost reductions, which are due to take effect next Friday. The impact of the cuts will be exacerbated by the DOD not receiving an appropriation for this year, with much of its money in the wrong accounts. |Friday, Feb 222013, 3:57 AM| 1 Comment
Tuesday, Jul 102012, 1:06 PMDire predictions that defense firms will be legally required to send dismissal warnings to tens of thousands of employees if Congress doesn't stop the looming automatic cuts is just a lobbying tactic, says employment lawyer Margaret Keane. "Are we really talking about complying with the WARN Act, or are we talking about political pressure being applied?" Keane asks. |Tuesday, Jul 102012, 1:06 PM| 11 Comments
Tuesday, Jun 192012, 7:57 AMYou don't wait for the hurricane to arrive before boarding up the windows, says BofA's Mike Hanson, already seeing evidence of corporate spending caution ahead of the so-called 2013 fiscal cliff. Defense contractors are most fearful as that part of the budget would be an easy target for massive cuts. |Tuesday, Jun 192012, 7:57 AM| 1 Comment
Thursday, Jun 142012, 1:08 PMConsolidation in the global defense industry is "inevitable," says Gordon Lane of British trade group ADS while at a major arms show in Paris, especially because of steep cuts among Nato countries. However, analysts believe massive mergers are unlikely; rather the majors could buy the second-tier firms. |Thursday, Jun 142012, 1:08 PM| Comment!
Monday, Feb 62012, 7:10 AMLazard Capital Markets' Michael Lewis issues a warning shot over defense industry stocks, as he notes that the strategy of firms such as Northrop Grumman (NOC) and Booz Allen Hamilton (BZH) of growing profits by cutting costs could catch up to them this year. "All the low-hanging fruit has already been picked. There’s not much fat in the infrastructure." |Monday, Feb 62012, 7:10 AM| 1 Comment
Monday, Jan 302012, 9:03 AM
Thursday, Jan 192012, 10:08 AM
Thursday, Jan 52012, 11:49 AMPresident Obama unveils his administration's defense strategy (.pdf), which will lead to more than $450B in cuts over the next 10 years. In addition to mentioning Iran and terrorism, the review highlights the intention to counter any threats from China given that it has the potential to affect the U.S.'s economy and security. |Thursday, Jan 52012, 11:49 AM| 1 Comment
Wednesday, Jan 42012, 10:36 AMAccording to reports, U.S. Defense Secretary Leon Panetta will unleash the department's eight-month review of possible spending cuts on Thursday. Defense industry-related ETFs ITA and PPA have both gained over the last month, but could be tested if the report comes down harsher than expected. |Wednesday, Jan 42012, 10:36 AM| Comment!
Tuesday, Dec 272011, 3:28 PMHawker Beechcraft won't take no for an answer after getting dropped from the bidding list for a $1B Air Force light attack aircraft contract. The firm - partially owned by Goldman Sachs - filed suit in a federal court claiming that the exclusion was made "without basis in process or fact." |Tuesday, Dec 272011, 3:28 PM| Comment!
Wednesday, Dec 212011, 1:50 PMKaman (KAMN -0.7%) settles a dispute with the DOJ over allegations it violated the False Claims Act. Under the terms of the agreement, one of its subsidiaries will make a payment of $4.75M to the government. The firm also says it will write off $1.45M in inventory, taking a total Q4 charge of $6.2M to reflect both actions. |Wednesday, Dec 212011, 1:50 PM| Comment!
Tuesday, Dec 202011, 8:55 AMMore on Lockheed's (LMT) F-35 contract (previous): Though the order for 42 F-35s from Japan wasn't influenced by Kim Jong II's death, instability in the region could keep momentum building for the embattled Joint Strike Fighter program as Asian nations eye increasing their military presence. Analyst James Hardy calls it a "big boost" for the program politically, adding that winning an "external competition" will help take the pressure off. |Tuesday, Dec 202011, 8:55 AM| Comment!
Friday, Dec 162011, 3:39 PMAviation Week notes that a deal by Japan to buy F-35s from Lockheed Martin (LMT +0.1%) could spark a F-35 buying binge from South Korea's defense ministry in order to keep pace with its neighbor. The action would be good news for LMT...but potentially bad news for Boeing (BA +0.3%) and multinational Eurofighter - with analysts seeing Seoul politicians wanting to go with the most "modern" fighter jet to keep its nationalistic pride in place. |Friday, Dec 162011, 3:39 PM| 1 Comment
Wednesday, Dec 142011, 7:09 AMAfter Airbus (EADSF.PK) appears to have won the battle for large plane orders in 2011, Boeing (BA) aims to turn the tables in 2012. Buoyed by its new blockbuster deal with Southwest Airlines (LUV), CEO Jim Albaugh optimistically predicts that Boeing will land 1.3K-1.4K firm orders by this time next year as demand stays strong for fuel-efficient planes and trouble plays out in Toulouse with the A350 design. |Wednesday, Dec 142011, 7:09 AM| Comment!