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Stock Market & Financial Investment News

News Breaks
January 23, 2013
09:11 EDTAVAVU.S. Army awards $12M contract for AeroVironment Wasp AE systems
AeroVironment announced that NAVAIRís Program Office for Navy & Marine Corps Small Tactical Unmanned Aircraft Systems, working collaboratively with the United States Armyís Counter-IED Program Office, awarded a contract on Sept. 21, 2012 for AeroVironment Wasp AE small unmanned aircraft systems, initial spares packages, training services, and one year of contractor logistics support. The PMA / Army team worked jointly to award the contract to PAR Government Systems Corporation, which in turn secured the systems and services from AeroVironment for a total value of $12.03M. Delivery was scheduled to occur within four months of contract award.
News For AVAV From The Last 14 Days
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July 18, 2014
16:32 EDTAVAVAeroVironment CEO Timothy Conver enters 10b5-1 trading plan
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July 15, 2014
07:17 EDTAVAVFarnborough International to hold air show
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July 14, 2014
06:14 EDTAVAVAeroVironment corrects Q1 year-to-date bookings to $65M from $75M
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July 9, 2014
16:40 EDTAVAVOn The Fly: Closing Wrap
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12:30 EDTAVAVOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
11:24 EDTAVAVHigh option volume stocks
High option volume stocks: GIMO NEPT BPOP AVAV CBSO LL BOBE KWK GNC TCS
11:16 EDTAVAVAeroVironment 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.
09:13 EDTAVAVOn The Fly: Pre-market Movers
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