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Lockheed Martin

5/22/2013, 11:56 PM ET

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Monday, May 20, 2:47 PM Lockheed Martin (LMT +0.2%) says its UK unit has expanded its range of cloud computing services available to government customers to include IT service integration and management, known as SIAM in the UK. SIAM enables UK government departments to deliver seamless, end-to-end IT services in a multi-vendor sourcing model. No financials behind the announcement were mentioned. 1 Comment [Global & FX]
Friday, May 17, 12:43 PM JPMorgan lifts its price target ($70 from $68) on Northrop Grumman (NOC +3.6%) to reflect Thursday's announcement that the company plans to reduce the number of outstanding shares by 25% by 2015. More interesting is the color in the note regarding NOC's position relative to peers: the company "intends to return essentially all cash to shareholders. Besides LMT's nearly 50% payout ratio (which we believe is likely to rise still higher in September), this is the clearest multi-year strategic statement we have seen among large defense companies, and we think the market will reward this," notes analyst Joseph Nadol III. 1 Comment [On the Move]
Wednesday, May 15, 9:15 AM Lockheed Martin's (LMT) CEO Marilyn Hewson "isn't surprised" that Australia is set to buy 100 F-35s and that Singapore and South Korea seem to be leaning toward purchasing the troubled jet. Hewson says that despite a history of delays and soaring costs, the F-35 (now the most expensive defense program in U.S. history) is winning over international support . "You can feel the momentum accelerating," Hewson notes. Even the jet's critics seem to be coming around: LMT's marketing campaign has been "highly effective and successful," said Winslow Wheeler, director of a Washington-based nonprofit that keeps tabs on government spending. 2 Comments
Friday, May 10, 7:55 AM The Navy has 24 months to convince lawmakers to fund 28 additional ships (at a cost of $440M each) for its controversial Littoral Combat Ship program, even as an internal report says the vessels may be "ill-suited to execute" their warfighting directives. There are 24 of the ships already under contract with Lockheed Martin (LMT) and Austal (AUTLF.PK) and procuring the remainder of the planned 52 ship fleet may be a difficult sell as criticism mounts. 6 Comments
Wednesday, May 1, 9:31 AM Lockheed Martin (LMT) gets $167M extension with NASA for hardware, software, data, and display support at the Johnson Space Center. The total contract value now comes to $1B. (PR) 1 Comment
Friday, April 26, 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%. Comment!
Thursday, April 25, 1:58 PM Lockheed Martin Corporation (LMT) declares $1.15/share quarterly dividend, in line with previous. Forward yield 4.67%. For shareholders of record June 03. Payable June 28. Ex-div date May 30. (PR) 1 Comment [Dividends]
Thursday, April 25, 1:01 PM Lockheed Martin (LMT +0.7%) could receive U.S. military orders for up to 60 F- 35 jets whose price tag could reach a as high as $9B. The number could rise to as many as 71 if orders from other nations are included. The deal is targeted to be signed as early as June, after months of tense and oftentimes confrontational wrangling over the program's costs. 2 Comments [On the Move]
Tuesday, April 23, 10:53 AM More on Lockheed Martin (LMT +2.2% to $98.01) Q1: net profit +13.9% to $761M, helped by lower tax expenses but hurt by special items of $151M. Sales breakdown: aeronautics -14% to $3.19B, partly because of lower F-16 deliveries; Missiles & Fire Control +13% to $1.99B; Space Systems +4% to $1.96B. Affirms 2013 EPS outlook of $8.80-9.10 vs consensus of $8.92, but says revenue will be at lower end of projection of $44.5-46B vs consensus of $45.12B, with sequestration to slice $825M off the figure. Drexel Hamilton upgrades LMT to Buy from Hold and gives it a price target of $110 vs $90 previously. 1 Comment [Earnings, On the Move]
Tuesday, April 23, 7:28 AM Lockheed Martin (LMT): Q1 EPS of $2.33 beats by $0.29. Revenue of $11.07B (-2% Y/Y) beats by $0.75B. (PR) 1 Comment [Earnings, Breaking News]
Tuesday, April 23, 12:05 AM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX 1 Comment [Earnings]
Monday, April 22, 5:30 PM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX Comment! [Earnings]
Thursday, April 18, 4:58 PM "If you take airplanes out of the production line today, that will have a great impact on the price," Lieutenant General Christopher Bogdan told Dutch officials Thursday in an attempt to keep the country from cutting its order for Lockheed Martin's (LMT) F-35s from 85 to between 52 and 68 planes. The Dutch are reportedly considering alternative planes made by EADS and Saab AB. (Previously: pilot defends F-35) Comment!
Thursday, April 18, 3:31 PM Ikonics Corporation (IKNX +4.3%) trades up after saying that it's working with Lockheed Martin (LMT -0.5%) to develop a new method of machining ceramic matrix composite materials using IKNX's proprietary particle beam technology. Comment! [On the Move]
Tuesday, April 16, 9:39 AM Lockheed Martin (LMT +0.6%) will build a 10-megawatt Ocean Thermal Energy Conversion plant off the coast of China intended to provide for all of the power needs of a resort built by the Reignwood Group. The plant will use differences in ocean water temperature to generate electricity. LMT says the project may set the stage for "additional OTEC power plants … for a potential multibillion dollar value." Comment!
Monday, April 15, 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. Comment!

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