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October 8, 2015
09:02 EDTLLLL-3 wins $30M contract from U.S. Coast Guard
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October 7, 2015
15:05 EDTLLLCOM DEV approaches Honeywell, others for potential sale, Reuters says
Canadian satellite equipment maker COM DEV is in advanced talks to sell itself and has approached Comtech (CMTL), Honeywell (HON), L-3 Communications (LLL), Thales, and others, reports Reuters, citing people familiar with the matter. The auction is in its final stages, the sources told Reuters. Reference Link
09:30 EDTLMTAlcoa wins $1.1B titanium contract with Lockheed Martin
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October 6, 2015
09:03 EDTLLLL-3 unit awarded position to compete under USAF TSA III contract
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October 5, 2015
16:16 EDTBAOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
12:40 EDTBABoeing CEO says Trans-Pacific Partnership creates new opportunities
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11:01 EDTBABoeing says Q3 deliveries totaled 199
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09:31 EDTLMTLockheed Martin's Sniper Targeting Pod selected by Netherlands Air Force
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October 4, 2015
16:24 EDTBAEmirates says won't decide between Boeing, Airbus until 2016, Bloomberg reports
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15:04 EDTLMT, BAESYThales in talks to provide light armored vehicles for Australia, WSJ says
Australia is in advanced talks to purchase a number of Hawkei light armored vehicles from French defense firm Thales, reports the Wall Street journal, citing two people familiar with the matter. Companies in the space include BAE Systems (BAESY), Lockheed Martin (LMT), and Oshkosh (OSK). Reference Link
October 2, 2015
18:41 EDTLMTLockheed Martin weighs merger of services units with competitor, Reuters says
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17:29 EDTBABoeing awarded $110.1M government contract modification
The Boeing Co., Clearfield, Utah, has been awarded a $110,109,415 modification on previously awarded contract FA8414-15-C-0001 for replacement of the intercontinental ballistic missile Minuteman III telemetry, test and termination systems. Work will be performed at Clearfield, Utah; Huntington Beach, California; and Heath, Ohio, and is expected to be complete by Aug. 31, 2019. Fiscal 2015 research, development, test and evaluation funds in the amount of $4,840,000 are being obligated at the time of award. The Air Force Nuclear Weapons Center, Hill Air Force Base, Utah, is the contracting activity.
17:28 EDTNOCNorthrop Grumman awarded $203.56M government contract modification
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October 1, 2015
17:25 EDTBA, LMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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10:39 EDTBAESY, BABAE Systems selected by Boeing to develop digital electronic warfare system
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10:37 EDTRTNBofA/Merrill's Top 10 US Ideas for Q4 2015
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10:04 EDTBAESY, BABoeing selected as prime contractor for EPAWSS electronic warfare suite program
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10:01 EDTBAApple names James Bell to board of directors
Apple (AAPL) announced that James A. Bell, former CFO and corporate president of The Boeing Company (BA), has been elected to Apple's board of directors. During his 38-year career at Boeing, he also oversaw Boeing Capital Corporation and Boeing Shared Services, and was interim CEO of The Boeing Company in 2005.
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."
17:52 EDTRTNRaytheon awarded $159.96M government contract
Raytheon is being awarded a $159.96M firm-fixed-price contract for MK 15 Close-In Weapon System, or CIWS, upgrades and conversions, system overhauls and associated hardware. CIWS is a fast-reaction terminal defense against low- and high-flying, high-speed maneuvering, anti-ship missile threats that have penetrated all other defenses. The CIWS is an integral element of the Fleet Defense In-Depth concept and the Ship Self-Defense Program. Operating either autonomously or integrated with a combat system, it is an automatic terminal defense weapon system designed to detect, track, engage, and destroy anti-ship missile threats penetrating outer defense envelopes. This contract includes options which, if exercised, would bring the cumulative value of this contract to $461.71M. This contract combines purchases for the U.S.; and the government of New Zealand under the Foreign Military Sales program. Work will is expected to be completed by October 2018. FY15 operations and maintenance funding in the amount of $64.11M; FY15 weapons procurement funding in the amount of $55.12M; FY15 shipbuilding and conversion funding in the amount of $25.12M; FY15 other procurement funding in the amount of $14.39M; and foreign military sales funding in the amount of $1.22M, will be obligated at time of award. Contract funds in the amount of $78.5M will expire at the end of the current fiscal year. This contract was not competitively procured in accordance with Federal Acquisition Regulation 6.302-1 - only one responsible source and no other supplies or services will satisfy agency requirements. The Naval Sea Systems Command, Washington Navy Yard, District of Columbia, is the contracting activity.
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