Market Currents

• Tuesday, October 20, 2009

• 07:59 AM Lockheed Martin (LMT): Q3 EPS of $2.07 vs. consensus of $1.83. Revenue of $11.06B (+4.5%) vs. $11.4B. (PR) Comment!
• 00:05 AM Notable pre-market earnings: ALV, BK, BIIB, BLK, BTU, CAT, CMA, COH, DGX, DRH, DD, EAT, FRX, GAP, ITW, JEF, JRN, KO, LXK, LMT, MTB, PCP, PH, PFE, RF, SHW, STT, SVU, UAUA, UNH, UTX, WU Comment!

• Tuesday, October 13, 2009

• 14:12 PM With U.S. spending cuts, and a shift away from traditional weapons programs to counterinsurgency and security networks, eyes are on defense contractor earnings next week (LMT, RTN, GR, LLL) - particularly outlooks, which are expected to be flat. Comment!

• Monday, August 17, 2009

• 14:08 PM Lockheed Martin (LMT -0.6%) will cut 4.5% more of its workforce - 800 employees -  by year's end. The cuts, from its Space Systems Company, are separate from other ongoing Space Shuttle-related layoffs. 3 Comments

• Tuesday, July 21, 2009

• 08:01 AM Lockheed Martin (LMT): Q2 EPS of $1.88 beats by $0.07. Revenue of $11.24B (+1.8%) in-line. Reaffirms full-year guidance. Shares -0.4% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: AKS, ALV, AMTD, BJS, BTU, CAL, CAT, CMA, DD, DGX, ELN, FCX, FRX, HCBK, JEF, KO, LMT, LUV, LXK, MRK, PCP, RF, SGP, SHW, STT, UAUA, UNH, UTX, WU Comment!

• Tuesday, July 14, 2009

• 15:03 PM And another 600 jobs cut by Lockheed Martin (LMT +1.6%) as a result of its presidential helicopter program's cancellation. The program originally cost $6.5B but doubled to $13B and ran six years behind schedule, partly due to changing specs. 2 Comments

• Tuesday, June 30, 2009

• 13:04 PM The U.S. Air Force may kill a $6B cruise missile program from Lockheed Martin (LMT -1.6%) if it doesn't improve its test record. Four of 10 missiles recently failed either to detonate on impact or hit the target. 4 Comments

• Tuesday, April 21, 2009

• 07:43 AM Lockheed Martin (LMT): Q1 EPS of $1.68 beats by $0.04. Revenue of $10.4B (+3.9%) vs. $10.5B. Shares +2.3% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: AKS, ALV, AMTD, BJS, BK, CAT, CMA, COH, DAL, DD, DGX, EAT, FRX, HBAN, JCI, JEF, KCI, KEY, KO, LMT, LXK, MAN, MICC, MRK, MTB, NTRS, NYT, RF, SGP, STT, TRA, UAUA, UNH, USB, USG, UTX, WBS, WU Comment!

• Thursday, April 9, 2009

• 08:04 AM Bidding for Textron: A consortium of companies from the United Arab Emirates and Kuwait is, according to Kuwaiti press, close to a deal to buy Textron (TXT) for $21 a share - close to double its current share price. Rumors of a takeover have been circulating but have focused primarily on Lockheed Martin (LMT) as the buyer. Comment!

• Thursday, January 22, 2009

• 07:10 AM Lockheed Martin (LMT): Q4 EPS of $2.05 beats by $0.13. Revenue of $11.1B (+2.7%) in-line. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, AUO, AVT, BAX, BBT, BEN, CIT, CMA, CY, EAT, ESI, EXC, FITB, HBAN, IGT, JNS, KEY, LMT, LUV, MTB, NITE, NOC, NOK, ORI, POT, SHW, STI, TCB, TSM, UNH, UNP, UST Comment!

• Tuesday, December 16, 2008

• 07:36 AM Boeing (BA) is protesting a $1.1B next-generation NASA satellite deal won by rival Lockheed Martin (LMT), saying its product is superior. Before its successful protest of Northrop Grumman's (NOC) $35B refueling aircraft contract win, Boeing rarely filed protests. Comment!

• Friday, November 21, 2008

• 12:43 PM Lockheed (LMT) CEO Robert Stevens, who almost doubled margins in his four years at the helm, says strong international sales allow more room for growth. Some analysts think he may be too optimistic. Comment!

• Wednesday, October 22, 2008

• 12:07 PM Government agencies made at least $5B in mistakes in contracts awarded to companies that long ago outgrew the designation "small business" - such as Lockheed Martin (LMT) - or never qualified in the first place. (WP) Comment!