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News Breaks
July 7, 2014
08:52 EDTRYCEY, KBRKBR awarded contract as CSC for LHD ships
KBR (KBR) announced that it has been awarded an initial five-year contract by the Australian Defence Force, or ADF, to provide the Capability Support Coordinator, or CSC, services for the Canberra Class Landing Helicopter Dock, or LHD, ships. The CSC contract will provide configuration management, data management, maintenance monitoring, engineering and supply support services, all within an Asset Management framework to meet the technical integrity, seaworthiness and mission preparedness of the Landing Helicopter Dock ships. KBR has engaged Rolls-Royce (RYCEY) Australia Services Pty Limited to work with KBR to deliver these services. The LHD ships will be the largest vessels ever constructed for the Australian Defence Force, and will be operated by the Royal Australian Navy, or RAN. The two Canberra class LHDs, HMAS Canberra and HMAS Adelaide, can each transport over 1,100 troops, 100 armored vehicles and 12 rotary wing aircraft.
News For KBR;RYCEY From The Last 14 Days
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October 5, 2015
06:03 EDTRYCEYRolls-Royce to cut up to 400 jobs in Marine business
Rolls-Royce has announced plans to continue the transformation of its Marine business through a program of increased investment in research and development and further efficiencies, as it positions the business for the future, following the continuing impact of the sharp fall in oil prices. These proposals will build on a series of cost reduction initiatives carried out over the past two years, and focus on improving competitiveness by reducing corporate and administrative costs with most of the early savings being reinvested in increased R&D activity. Profit and revenue guidance for our Marine business, as set out in July, remains unchanged. The number of employees will be reduced by up to 400 worldwide by the end of next year, in addition to the reduction of 600 employees previously announced in May, which was also driven by the impact of the low price of oil and subsequent fall in orders. The company expects the proposals will generate full year savings of GBP40M, with incremental benefits from 2016 onwards; most of the early savings will be invested in increased R&D activity. Due to the timing of actions being taken, this will now see GBP20M charged in 2015 and GBP10M taken in 2016.
October 4, 2015
12:23 EDTRYCEYRolls-Royce to cut 400 management jobs in marine unit, FT says
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September 30, 2015
05:25 EDTRYCEYRolls-Royce reinstated with a Buy at Goldman
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September 29, 2015
10:31 EDTRYCEYAmerican Airlines, Rolls-Royce to dissolve Texas Aero Engine partnership
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September 28, 2015
19:11 EDTRYCEYRolls-Royce to face second inquiry over Petrobras links, Guardian says
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September 24, 2015
10:39 EDTKBRAxiom says sell Caterpillar before company cuts guidance, jobs
The shares of heavy machinery maker Caterpillar (CAT) are tumbling after the company reduced its revenue guidance and announced that it would lay off 4,000-5,000 of its employees between now and the end of 2016. The company said it could lay off up to 10,000 employees by 2018. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating, saying that the company will probably face "operating income headwinds." WHAT'S NEW: Caterpillar reduced its fiscal 2015 revenue guidance to $48B from $49B. Analysts' consensus estimate was $48.8B. Additionally, the company expects its revenue to drop 5% in fiscal 2016 versus fiscal 2015. Caterpillar expects to reduce its annual total costs by $1.5B, the heavy machinery maker said, noting that it anticipates that it will pay about $2B in pre-tax charges related to the layoffs. ANALYST CALL: Axiom analyst Gordon Johnson II initiated Caterpillar with a Sell rating, saying that the company appears to carry "Russian roulette risk." The company's Resources and Energy and Transportation units generate the highest margins for Caterpillar but are currently struggling, Johnson said. Consequently, the company will probably "face operating income headwinds" as its revenue mix deteriorates, the analyst stated. In 2016, Caterpillar's earnings per share is likely to drop to $2.79, Johnson warned, versus analysts' consensus estimate of $4.53 prior to today's announcement. Moreover, after analyzing the SEC filings of Caterpillar's subsidiary, CAT Financial, Johnson believes that "the company is using debt to fund sales (where revenue is recognized) between itself and wholly-owned foreign (subsidiaries)." Citing a May 2013 letter between Caterpillar and the SEC, Johnson says that the agency has noticed this phenomenon, limiting Caterpillar's ability to employ similar methods during the current downturn. He set a $28 price target on the stock. OTHERS TO WATCH: Other heavy machinery makers include Komatsu (KMTUY), Deere (DE) and AGCO (AGCO). Like Caterpillar, Joy Global (JOY) makes mining equipment. Fluor (FLR) and KBR (KBR) build major infrastructure projects. PRICE ACTION: In morning trading, Caterpillar sank 6.7% to $65.53, while Joy Global and Deere each dropped about 4%.
10:13 EDTKBRHigh option volume stocks
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September 22, 2015
08:03 EDTKBRKBR wins prime contractor position with U.S. Air Force
KBR announced it has been awarded a prime contractor position for a multiple award indefinite-delivery/indefinite quantity contract by the U.S. Air Force for base life support and logistics and construction services worldwide. KBR is one of eight companies awarded a prime contractor position to compete for specific task orders on the $5B Air Force Contract Augmentation Program.

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