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News Breaks
July 15, 2014
04:55 EDTACN, ACN, ACN, ACN, ACN, ACN, ATR, ATR, ATR, ATR, ATR, ATR, WWD, WWD, WWD, WWD, WWD, WWD, LMT, LMT, LMT, LMT, LMT, LMT, BA, BA, BA, BA, BA, BA, BDRBF, BDRBF, BDRBF, BDRBF, BDRBF, BDRBF, BAESY, BAESY, BAESY, BAESY, BAESY, BAESY, ATI, ATI, ATI, ATI, ATI, ATI, RTI, RTI, RTI, RTI, RTI, RTI, ERJ, ERJ, ERJ, ERJ, ERJ, ERJ, ESL, ESL, ESL, ESL, ESL, ESL, AMRS, AMRS, AMRS, AMRS, AMRS, AMRS, AVAV, AVAV, AVAV, AVAV, AVAV, AVAV, TGI, TGI, TGI, TGI, TGI, TGIFarnborough International to hold air show
Farnborough International Air Show 2014 to be held in Farnborough, England on July 14-20.
News For ACN;AVAV;AMRS;ESL;ERJ;RTI;ATI;BAESY;BDRBF;BA;LMT;WWD;ATR;TGI From The Last 14 Days
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October 21, 2014
13:31 EDTBABoeing invests over $1B in Everett site
Boeing announced the groundbreaking of its new 777X Composite Wing Center at the Everett, Washington campus. Permitting for the new 1M-square-foot facility was completed approximately seven weeks earlier than anticipated, allowing for an accelerated start to construction. Boeing is investing more than $1B in the Everett site for construction and outfitting of the new building. Completion of the new building, which is expected in May 2016, will require approximately 3.5M hours of work. At its peak, there will be approximately 1.2K contract employees working on the project. First delivery of the 777X is targeted for 2020.
07:32 EDTLMTLockheed Martin reports Q3 Aeronautics sales down 2% to $3.54B
Reports Q3 Information Systems & Global Solutions sales down 5% to $1.95B; Reports Q3 Missiles and Fire Control sales down 5% to $1.91B; Reports Q3 Mission Systems and Training sales down 1% to $1.68B; Reports Q3 Space Systems sales up 4% to $2.03B.
07:28 EDTLMTLockheed Martin expects FY15 sales to decline at low single digit rate
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07:27 EDTLMTLockheed Martin raises FY14 EPS to $11.15 from $10.85-$11.15, consensus $11.14
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07:26 EDTLMTLockheed Martin reports Q3 cash from operations was $990M
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07:25 EDTLMTLockheed Martin reports Q3 EPS cont ops $2.76, consensus $2.71
Reports Q3 revenue $11.11B, consensus $11.28B
07:20 EDTATIAllegheny Technologies now sees HRPF start-up costs at low end of range
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07:17 EDTATIAllegheny Technologies reports Q3 EPS (1c), consensus (5c)
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07:10 EDTBAESYBAE Systems acquires SilverSky
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06:11 EDTBAESYBAE Systems to acquire SilverSky for $232.5M on cash free, debt free basis
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October 20, 2014
16:20 EDTATIAllegheny Technologies reaches mill products and forgings long-term agreements
Allegheny Technologies announced that it has extended and expanded its long-term supply agreements,LTA, for mill products and closed-die forgings with a major jet engine OEM. One new LTA covers a wide range of Premium-Quality titanium-based alloy and nickel-based superalloy mill products. The other LTA covers closed-die forgings, including parts made using advanced iso-thermal and hot-die forging processes. The agreements begin in 2015 and continue into the next decade.
16:16 EDTATIAllegheny Technologies signs long-term titanium cast products agreement
Allegheny Technologies announced that it has signed an agreement to supply titanium investment cast products to Snecma for use in single-aisle and business jet engine programs, including the CFM LEAP family. The new agreement begins in 2015 and extends into the next decade.
15:36 EDTLMT, ATINotable companies reporting before tomorrow's open
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13:01 EDTBABoeing partners with Kenya Airways
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06:10 EDTERJ, BALufthansa publishes timetable in response to VC planned strike
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October 17, 2014
11:58 EDTERJ, BATextron rallies after better than expected Q3 EPS, raising FY14 profit outlook
Shares of aircraft and defense company Textron (TXT) are advancing after the firm reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. WHAT'S NEW: Textron this morning reported Q3 EPS from continuing operations of 57c and revenue of $3.43B, compared to consensus of 52c and $3.63B, respectively. Aviation revenue for the quarter came in at $1.08B, Bell revenue was $1.18B, Systems revenue was $358M, Industrial revenue was $785M and Finance revenue was $25M for the quarter. Chief Executive Officer Scott Donnelly said commented that the increased revenues at Aviation, Industrial and Bell primarily reflected the success of its new product investment and acquisition strategies. Donnelly said the company achieved significant margin improvement in the quarter at Textron Aviation, which reflected higher volumes and better performance. Bell also had improved performance in Q3, Donnelly said, leading to an increase in quarterly margins compared to last year. WHAT’S NOTABLE: The company raised its FY14 EPS from continuing operations view to $2.05-$2.15 from $1.92-$2.12, in line with analysts' consensus estimates of $2.07. Textron also raised its FY14 outlook for cash flow from continuing operations of the manufacturing group before pension contributions to $700M-$800M, with expected pension contributions of around $83M. On the company's earnings conference call, management said it saw a pickup of orders in September and October in the new aircraft market. The company said it is also seeing significant contributions from its M&A investments. PRICE ACTION: In late morning trading, Textron rose $4.16, or about 12.4%, to $37.82 on heavy trading volume. Including today’s advance, the stock has gained approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies in the aircraft and defense business include Boeing (BA), up 2.6%, Spirit Aerosystems (SPR), up 3.8%, and Embraer SA (ERJ) up 3.9%.
08:53 EDTTGITriumph Group acquires North American Aircraft Services
Triumph Group announced the acquisition of North American Aircraft Services. The acquired business will operate as Triumph Aviation Services, NAAS Division and be included in the Aftermarket Services Group. The business is expected to add approximately $35M in annual revenue and to be immediately accretive to earnings.
08:48 EDTATIBofA/Merrill global steel analysts hold analyst/industry conference call
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07:32 EDTBABoeing volatility elevated into Q3 and outlook
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07:31 EDTBAEMC volatility elevated into Q3 results and outlook
EMC October weekly call option implied volatility is at 51, November is at 34, January is at 27; compared to its 26-week average of 23 into the expected release of Q3 results on October 22.
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