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News Breaks
April 2, 2013
11:31 EDTGDGeneral Dynamics unit awarded $40M contract modification
General Dynamics Land Systems has been awarded an additional $40M for the procurement and production of Saudi M1A2 (M1A2S) Abrams tanks for the Kingdom of Saudi Arabia. This modification is part of an existing contract to upgrade the Kingdom of Saudi Arabia's fleet of tanks. The Foreign Military Sales contract was awarded by the U.S. Army TACOM Life Cycle Management Command on behalf of the Royal Saudi Land Forces. This contract extends work started in 2008 to update M1A1 and M1A2 tanks to the M1A2S configuration for the Kingdom of Saudi Arabia. The M1A2S conversion increases the efficiency and capability of the tank. The work will be performed by current employees at the Joint Systems Manufacturing Center in Lima, Ohio, with an estimated completion date of July 31, 2014.
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July 22, 2014
15:30 EDTGDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP) , consensus $1.23; Boeing (BA), consensus $2.01; Dow Chemical (DOW), consensus 72c; EMC (EMC), consensus 43c; Simon Property Group (SPG), consensus $2.13; Thermo Fisher (TMO), consensus $1.62; General Dynamics (GD), consensus $1.77; Freeport-McMoRan (FCX), consensus 49c; Delta Air Lines (DAL), consensus $1.04; Northrop Grumman (NOC), consensus $2.22; Whirlpool (WHR), consensus $2.91; B/E Aerospace (BEAV), consensus $1.07; Ryder (R), consensus $1.40; Owens Corning (OC), consensus 46c.
July 11, 2014
10:02 EDTGDGeneral Dynamics to continue ACV testing for Marines
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July 9, 2014
11:16 EDTGDAeroVironment 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.

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