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News Breaks
June 22, 2014
20:02 EDTBA, RTNRaytheon EKV destroyed a complex, long-range ballistic missile target in space
During a Missile Defense Agency test of Boeing's (BA) Ground-based Midcourse Defense, GMD, system, Raytheon Company's (RTN) Exoatmospheric Kill Vehicle, EKV, destroyed a complex, long-range ballistic missile target in space.It was the ninth intercept for the GMD program, which is designed to protect the U.S. against long-range ballistic missile attack by destroying incoming threats outside of the Earth's atmosphere.
News For BA;RTN From The Last 14 Days
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April 21, 2015
08:04 EDTRTNRaytheon to field new space-based system to improve accuracy of GPS
Thanks to a newly awarded $103M Federal Aviation Administration contract, Raytheon will field the new element in a space-based system. The Raytheon-supplied system will be a key feature of the FAA's Wide Area Augmentation System, or WAAS, which improves the availability and accuracy of Global Positioning System, or GPS, signals to enable use by commercial and general aviation aircraft. The company will develop a payload to be incorporated into a new geostationary satellite and two associated ground uplink stations to support the WAAS system within U.S. airspace.
07:09 EDTBABoeing April weekly volatility elevated into Q1 and outlook
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April 20, 2015
12:35 EDTRTNCybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
09:19 EDTRTNRaytheon likely to trade down on joint venture news, says Wells Fargo
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07:05 EDTRTNRaytheon and Vista Equity agree to form cybersecurity company
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05:59 EDTRTNRaytheon expected to acquire control of Websense, form new venture, WSJ reports
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April 19, 2015
17:01 EDTRTNRaytheon to acquire Vista's Websense for $1.9B, Bloomberg says
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April 17, 2015
11:50 EDTBABoeing says IAM withdraws petition to unionize in South Carolina
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08:36 EDTBAGE CEO says U.S. economy getting 'a little better every day'
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08:32 EDTRTNRaytheon awarded more than $2B for Patriot Air and Missile Defense System
Raytheon announced it has been awarded a contract worth over $2B to deliver the combat-proven Patriot Air and Missile Defense System to an undisclosed international customer. The contract, awarded on April 2, 2015 and booked in the second quarter as a direct commercial sale, includes fully digitized new-production Patriot fire units with the latest technology for improved threat detection, identification and engagement. The contract also includes a full training package and support equipment.
April 16, 2015
11:07 EDTBABoeing reports one new order in weekly update
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08:49 EDTBAFly Leasing acquires Boeing 737-800 aircraft
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April 15, 2015
17:19 EDTBABoeing awarded $321.8M government contract
Boeing was awarded a $321.8M cost-plus-incentive-fee undefinitized contract to complete development of the base line Apache attack helicopter, and for the integration of modifications. Work will be performed in Mesa, Arizona, with an estimated completion date of March 31, 2018. Bids were solicited with one received. FY15 research, development, testing, and evaluation funds in the amount of $51.46M were obligated at the time of the award.
08:13 EDTRTNRaytheon's Joint Standoff Weapon variant enters operational testing
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April 14, 2015
19:48 EDTBABoeing union may cancel vote to unionize South Carolina workers, WSJ says
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14:02 EDTRTNRaytheon to test new multi-mode seeker for Tomahawk cruise missile
Using company-funded independent research and development investment, Raytheon is preparing for a multi-mode seeker test designed for a Tomahawk Block IV cruise missile. The captive flight test, using a modified Tomahawk Block IV missile nose cone, will be designed to demonstrate the processor's ability to broadcast active radar as well as passively receive target electromagnetic radiation, which was demonstrated in February 2014. This is a critical step in enabling the missile to strike moving targets on land and at sea. During the test, planned for the second quarter, the nosecone of a Tomahawk Block IV missile will be equipped with active and passive radio frequency antennas integrated with Raytheon's new modular, multi-mode processor and fitted to a T-39 aircraft. Flying at high subsonic speed and at varying altitudes, the aircraft will simulate a Tomahawk flight regime. The multi-mode seeker and multi-function processor will operate the active radar against fixed and mobile targets on land and at sea, in a complex, high density electromagnetic environments.
09:08 EDTBASouthwest selects seat for future Boeing aircraft
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08:01 EDTRTNRaytheon and US Air Force completes operational tests of MALD-J
Raytheon and the U.S. Air Force successfully completed operational tests of Miniature Air Launched Decoy-Jammer, satisfying all requirements to attain Initial Operational Capability.
07:10 EDTBAAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
06:15 EDTBABoeing, Lockheed Martin JV unveils Vulcan rocket with reusable engine
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