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PowerShares Aerospace & Defense Portfolio ETF

5/24/2013, 4:18 AM ET

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Friday, February 22, 3:57 AM Frank 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. 1 Comment [U.S. Economy]
Tuesday, July 10, 2012, 1:06 PM Dire 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. 11 Comments
Tuesday, June 19, 2012, 7:57 AM You 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. 1 Comment [U.S. Economy]
Thursday, June 14, 2012, 1:08 PM Consolidation 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. Comment!
Thursday, January 5, 2012, 11:49 AM President 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. 1 Comment
Wednesday, January 4, 2012, 10:36 AM According 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. Comment! [U.S. Economy, Quick Ideas]
Friday, September 16, 2011, 4:53 PM Morningstar believes that while investor concerns about looming defense budget cuts are justified, the sell-off that they've spawned in defense contractors has gone too far. It recommends investors worried about a particular contractor proving especially hard-hit take a look at aerosppce & defense ETFs ITA and PPA. 1 Comment [Quick Ideas]
Wednesday, September 14, 2011, 5:06 PM "American leadership in aerospace and defense is being threatened by forces in Congress and the administration," says a coalition of manufacturers attempting to sink their teeth into the supercommittee. Defense spending- not including multiple wars - has doubled to more than $500B annually in the 10 years since 9/11. 5 Comments [U.S. Economy]
Tuesday, August 2, 2011, 2:03 PM Shares of Northrop Grumman (NOC -2.2%) move lower with other defense stocks, but look for a lift if the Air Force replaces U-2 spy planes with the $12B Global Hawk unmanned drone program. Despite cost overruns and reliability issues, the final push could be if ground commanders become more comfortable with the technology. Comment! [Tech]
Wednesday, July 20, 2011, 2:38 PM The Pentagon estimates the first few production runs for F-35s are exceeding cost projections by close to $1B, of which the government will have to pay an extra $635M. The defense contractors on the job, Lockheed Martin (LMT -0.9%) and Pratt & Whitney (UTX -1.9%), will have to pick up the remaining part of the tab. 2 Comments
Tuesday, July 12, 2011, 3:03 PM Boeing's (BA -2.1%) $30B tanker deal snatched away from EADS (EADSY.PK) faces cost overruns that ultimately the government may have to share to the tune of $600M under the terms of the deal. The good news for taxpayers is costs above-and-beyond, cut into Boeing's profits, and are not shared. 1 Comment [Consumer]
Friday, July 8, 2011, 10:51 AM Florida's economy prepares for the loss of jobs after the final shuttle flight, scheduled for later this morning, adding to 3,200 already slashed. NASA Administrator Charles Bolden expects spaceflight firms to take up the slack, as the agency awards $269M to Sierra Nevada, SpaceX, Blue Origins and Boeing (BA -1.4%) to promote space travel. 7 Comments [Tech, U.S. Economy]
Wednesday, June 29, 2011, 3:41 PM Boeing (BA) faces accusation it overcharged the U.S. Army $13M for helicopter parts, according to an internal Pentagon report released by the Project on Government Oversight. The company 'voluntarily' paid back the funds, but the report also found $200M of future Boeing orders that can be filled from Army inventory. Comment! [Consumer]
Thursday, April 28, 2011, 12:11 PM The top rebel military commander again requests advanced weaponry - anti-tank missles, attack helicopters, and ships with torpedoes - to help in its fight against Gaddafi. Until now, allies have only supplied "non-lethal" aid to the opposition. Defense ETFs: ITA, PPA. 5 Comments [Global & FX]
Friday, August 8, 2008, 4:53 PM Top performing sector ETFs: Homebuilders– XHB +6.69%. Retail– RTH +4.76%. Consumer discretionary– XLY +4.76%. Regional banks– KRE +4.22%. Aerospace / defense– PPA 4.22%. Comment!

PPA PowerShares Aerospace & Defense Portfolio ETF

PPA

PowerShares Aerospace & Defense Portfolio ETF