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July 9, 2014
11:16 EDTGD, LMT, NOC, AVAVAeroVironment rallies after better than expected results
Shares of AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems, are rallying after the company reported better than expected fourth quarter results. WHAT'S NEW: Last night, AeroVironment reported Q4 EPS of 35c and revenue of $73.5M, compared to analysts' consensus estimates of 22c and $69.62M, respectively. WHAT'S NOTABLE: The company forecast fiscal 2015 revenue of $250M-$270M, compared to consensus of $256.2M, along with gross profit margins of 34.5%-37.5%. The company noted that planned increases in research and development and business development investments for Tactical Missile Systems, Commercial UAS and Global Observer business areas in FY15 may largely offset operating profit in the current fiscal year. PRICE ACTION: In morning trading, AeroVironment soared $4.49, or 14.5%, to $35.45 on nearly five times its average daily trading volume. Including today's advance, the stock is up more than 70% over the past 12 months. OTHERS TO WATCH: Other companies in the unmanned aircraft space include Lockheed Martin (LMT), General Dynamics (GD), and Northrop Grumman (NOC), though all of those are significantly larger than AeroVironment.
News For AVAV;LMT;GD;NOC From The Last 14 Days
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October 2, 2015
18:41 EDTLMTLockheed Martin weighs merger of services units with competitor, Reuters says
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17:28 EDTNOCNorthrop Grumman awarded $203.56M government contract modification
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October 1, 2015
17:25 EDTLMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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September 30, 2015
19:57 EDTLMTDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
17:49 EDTLMTLockheed Martin awarded $392.02M government contract
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17:43 EDTNOCNorthrop Grumman awarded $3.2B government contract
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11:16 EDTGDGeneral Dynamics awarded $358M for 150 M1A1 SA Abrams tanks
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06:51 EDTLMTUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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September 28, 2015
17:59 EDTGDGeneral Dynamics awarded $358M military sales contract
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September 25, 2015
09:02 EDTNOCNorthrop Grumman wins research contract from DHS
Northrop Grumman was awarded a contract from the Department of Homeland Security Science and Technology Directorate to develop advanced biometric solutions that will enhance mobile security for users while virtually eliminating the need for a password. Northrop Grumman will combine advanced behavioral sensing and modeling techniques, derived from two of its university research projects, to authenticate user identity. Instead of a password or pin, behavioral characteristics gathered by sensors on a device will authenticate user identity. Simply put, how a user picks up and handles a device - a highly secure and irreproducible function - will permit access. Under a $1.7M Mobile Technology Security research and development award, Northrop Grumman is leveraging a research project on threat behavior modeling originally developed through its Cybersecurity Research Consortium partner Carnegie Mellon University's cybersecurity institute, CyLab. In this approach, sensors on the device track and capture user behavior and compare that data against a user profile automatically derived through machine-learning techniques. This technology has since spun off into a company called Zense.
September 24, 2015
16:40 EDTAVAVEngaged Capital sends letter to chairman and CEO of AeroVironment
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16:33 EDTAVAVAeroVironment announces $25M stock repurchase program
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13:50 EDTLMTLockheed Martin raises share repurchase authorization by $3B
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12:51 EDTLMTLockheed Martin raises quarterly dividend 10% to $1.65 per share
The dividend is payable on December 24 to holders of record as of the close of business on December 1.
09:30 EDTNOCNorthrop Grumman selected by US Army to develop long range radar
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08:04 EDTLMTLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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07:43 EDTLMTMarket overly negative on Aerojet Rocketdyne, says Oppenheimer
After Boeing (BA) rejected an unsolicited offer from Aerojet Rocketdyne (AJRD) for United Launch Alliance, a 50/50 joint venture of Boeing and Lockheed Martin (LMT), Oppenheimer thinks the market's reaction to the news ignores Aerojet's positive catalysts. The firm says that the news will not impact Aerojet's operations until 2019 and will probably not have an impact of more than about $115M. The firm keeps a $26 price target and Outperform rating on Aerojet.
September 23, 2015
17:52 EDTLMTLockheed Martin awarded $120.4M government contract modification
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September 22, 2015
11:17 EDTNOCNorthrop Grumman signs long-term agreement with Kitron AS
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09:10 EDTAVAVAeroVironment says not selected to receive phase III contract for DARPA program
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