Thu, Apr. 23, 7:19 AM
Mon, Mar. 16, 3:09 PM
- Raytheon (RTN +2.4%) is in talks to acquire network security company Websense, owned by the Vista Equity Partners P-E firm, likely for more than $1B, Bloomberg reports.
- Websense makes software that blocks websites and lets companies inspect network traffic and filter emails for security and hacking threats.
- RTN in November acquired Blackbird Technologies, a surveillance and cybersecurity company, for $420M to bolster its intelligence business.
Mon, Feb. 23, 8:29 AM
- Raytheon (NYSE:RTN) has begun developing an extended range variant of the Advanced Medium Range Air to Air Missile (AMRAAM) that will be able to intercept at a longer range and higher altitudes.
- "The new missile will be even faster and more maneuverable than the current AMRAAM," said Mike Jarrett, Raytheon vice president of Air Warfare Systems.
- RTN +0.2% premarket
Thu, Jan. 29, 8:39 AM
- Net income of $582M, or 1.88 per share vs. $531M, or $1.66 per share in the same quarter a year ago. Adjusted income of $530M, or $1.71 per share.
- Revenue by segment: Integrated Defense Systems +4%; Intelligence, Information and Services +5%; Missile Systems +5%; and Space and Airborne Systems +3%.
- Bookings fell 5.4% to $7.1B from $7.5B in the prior year period.
- Backlog at the end of 2014 was $33.6B, compared to $33.7B in 2013.
- The company expects full-year 2015 earnings of $6.20-$6.35 per share (adj. $5.49-$5.64) on revenues of $22.3B-$22.8B.
- RTN -2.5% premarket
- Q4 results
Nov. 7, 2014, 7:47 AM
- A Raytheon (NYSE:RTN) team including General Dynamics (NYSE:GD) has secured an initial deal consolidating oversight of rocket facilities at Cape Canaveral in Florida and Vandenberg Air Force Base in California in a contract expected to be worth as much as $2B over 10 years.
- The team will support the launch, testing and tracking of military and commercial rocket launches.
- RTN +0.6%; GD +0.2% premarket
Nov. 4, 2014, 10:40 AM
- Raytheon (RTN +1.8%) has received a $174.5M follow-on contract from the U.S. Air Force to provide field support for high-altitude intelligence, surveillance and reconnaissance and the Distributed Command Ground System (DGCS) mission, marking the 15th year the company successfully partnered with the Air Force for the contract.
- DCGS is a worldwide distributed, network centric, system-of-systems architecture that conducts collaborative intelligence operations.
Feb. 24, 2014, 2:58 PM
- The Pentagon announces plans to shrink the U.S. Army to pre-WW II levels - to fewer than 450K from the current 520K - in order to meet 2015 spending caps.
- Also planned for elimination is the Air Force's fleet of A-10 Warthog close air support planes - a change some influential lawmakers are expected to oppose - to ensure continued funding of Lockheed Martin's (LMT +1.7%) new long-range F-35 bomber and a new aerial refueling tanker.
- Nevertheless, top defense stocks are solidly higher, presumably because the Defense Department envisions warfare being waged using enhanced technologies: BA +1.4%, GD +1.5%, NOC +1.9%, RTN +2.2%, HII +0.9%.
Sep. 20, 2013, 1:19 PM| Comment!
Sep. 10, 2013, 3:51 PM
- Jefferies ups the price target on Raytheon (RTN +1.3%) to $87 (from $66) representing a 15% upside from Monday's close.
- Analyst Howard Rubel cites the company's "potential to capture significant international sales, its ongoing efforts to upgrade its product line, share gains in the Electronic Warfare market, and the ability to maintain solid profitability in the face of market declines." Plenty to like there apparently.
- FY13 and FY14 EPS estimates hiked to $5.65 (from $5.60) and $6.25 (from $6.00) respectively.
- Jefferies rates RTN at Buy.
Aug. 23, 2013, 1:20 PMRaytheon's SM-6 successfully test fired by US Navy; wins border security contract with Philippine government
- Raytheon (RTN +1.2%) says the U.S. Navy fired two of its Standard Missile-6 interceptors from the USS Chancellorsville, successfully engaging two cruise missile drones in the missile's first over-the-horizon test scenario at sea.
- The SM-6 will provide the Navy extended range protection against a variety of aircraft, unmanned aerial vehicles and cruise missiles as part of the Naval Integrated Fire Control-Counter Air mission area.
- Additionally, the company says it's been awarded an $18M contract by the Philippine government to design and construct a National Coast Watch Center for border security.
- This is Raytheon's first border security-related contract in Southeast Asia.
Jul. 3, 2013, 11:24 AMThe Pentagon is planning its first missile test since 2008 on July 5. If successful, the launch will be the first interception in more than four years of a surrogate missile incoming toward the U.S. The test will use interceptors tipped with Raytheon (RTN +0.1%) "hit-to-kill" warheads which last successfully hit their target during a December 2008 exercise, and be operated by Boeing (BA +0.8%). | 5 Comments
Jul. 1, 2013, 3:28 PMITT Exelis (XLS +2.5%) trades up today after saying it's been selected by Raytheon Company (RTN) to supply antenna subsystems for the DoD's international ballistic defense system. The antennas will be fielded as part of the Standard Missile-3 program, a cooperative development program between the U.S. Department of Defense and the Ministry of Defense of Japan, scheduled to be deployed in 2018. | Comment!
Jul. 1, 2013, 2:02 PMRaytheon (RTN +0.7%) has been awarded a contract with the U.S. Naval Air Systems Command to build an integrated multi-INT system to safeguard forward deployed forces. The cross-domain surveillance system is a software package small enough to mount onboard an aircraft, and transfers sensor data, high-definition surveillance video, and traditional and non-traditional ISR imagery, as well as situational awareness data, to give warfighters an advantage by providing a complete picture of impending threats. | Comment!
May 30, 2013, 7:53 AMGoldman is out with upgrades for the defense contractors: Northrop Grumman (NOC) is taken to Buy from Neutral (PT, $95) as it transitions to "a consistent performer with above average margins" and is now "arguably the most shareholder-friendly defense prime" (I, II); Lockheed Martin (LMT) is "in the sweet spot of Pentagon priorities" and lands on the coveted Conviction Buy list with a PT of $127; Raytheon (RTN) gets a Neutral from Sell bump (PT, $70) as Goldman "underestimated the multiple the market would pay for cash generation and dividend yield." LMT +2% premarket, NOC +1.34% premarket. | 3 Comments
Apr. 25, 2013, 1:36 PMRaytheon (RTN +1.8%) moes up aon a solid Q1 beat earlier this morning. Net earnings rose 8.9% Y/Y, largely due to a tax credit, as the defense company reported a slight 1% dip in revenue as well as a 30% decline in bookings and reduced backlog. The company raises its FY13 EPS estimate to between $5.75 and $5.90 from previous estimates of $5.65 to $5.80, but lowers its revenue view to around $23.2B to $23.7B from $23.6B to $24.1B. The company cites expectations for spending cuts coming out the sequester for the revenue reduction. | Comment!
Apr. 19, 2013, 3:32 PMRaytheon (RTN +1.8%) says its subsidiary, Raytheon Professional Services, has delivered the launch training program for the Chevrolet Trax Urban Life Vehicle, its first training event in its contract to manage dealer training for General Motors (GM +0.4%) Korea Company. As part of the contract, RTN will manage content development and training administration services for GM Korea's sales, nontechnical after sales and technical dealer personnel, as well as sales and nontechnical training for GM Korea's Chevrolet dealer training program in the RoK. | 1 Comment
RTN vs. ETF Alternatives
Raytheon Cotogether with its subsidiaries is engaged in developing integrated defense systems. The Company offersair and missile defense; radar solutions; naval combat and ship electronic systems; command, control and communications systems.
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