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May 5, 2015
10:44 EDTGDGeneral Dynamics receives $310M order from Israel, Globes reports
Israel's Ministry of Defense has signed a $310M contract with General Dynamics for kits and chasses for armored personnel carriers, reported Globes. Reference Link
08:03 EDTBAESYBAE Systems annonces collaboration with Fotoniks
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07:53 EDTCOLWells Fargo to hold a conference
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May 4, 2015
17:31 EDTBABoeing awarded $118.15M government contract modification
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13:00 EDTRTNRaytheon awarded $559M for SM-3 Block IB
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07:21 EDTLMIALMI Aerospace reports Q1 EPS ex-items (5c), one estimate (12c)
Reports Q1 revenue $92.5M, one estimate $90M. Reports Q1 EPS (11c).
05:30 EDTBABoeing, Lufthansa, SWISS finalize order for three additional 777-300ERs
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April 30, 2015
18:06 EDTBABoeing, Air Tahiti Nui finalize order for two 787-9 Dreamliners
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17:40 EDTBABoeing awarded $247.09M government contract
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17:39 EDTRTNRaytheon awarded $559.21M government contract
Raytheon Missile Systems was awarded a $559.21M not-to-exceed sole-source undefinitized contract action, or UCA, which contemplates a hybrid contract structure containing fixed-price incentive firm, firm-fixed-price, and cost reimbursable contract line items. Under this contract action, the contractor will procure an initial quantity of 44 Standard Missile-3 Block IB all-up rounds, or AURs, and related activities. The contractor will also provide the work required to produce and deliver the third stage rocket motor reliability growth/design enhancements. Upon definitization of the UCA, the government intends to purchase additional missiles up to a total quantity of 52 AURs. Work will be performed in Tucson, Arizona, and Huntsville, Alabama, with an expected completion date of April 28, 2018. FY15 defense-wide procurement funds in the amount of $401.75M are being obligated at time of award. One offer was solicited with one offer received.
11:10 EDTBABoeing says has received 12 new orders since last update
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09:16 EDTBA, BAESYBAE Systems JV to provide repair services for Shandong engines through 2019
FADEC International, a joint venture between BAE Systems and Sagem, has signed a long term agreement to provide repair services for the Full Authority Digital Engine Controls on Shandong Airlines Co.’s 737 fleet.
07:03 EDTLLLL-3 Communications sees FY15 adjusted EPS $7.35-$7.65, consensus $7.64
Cuts FY15 net sales to $11.45B-$11.65B from $11.75B-$11.95B, consensus $11.79B. Raises FY15 segment operating margin to 9.4% from 9.3%. Backs FY15 effective tax rate of 32%. Backs FY15 free cash flow of $925M. Backs FY15 net cash from operating activities $1.12B. Cuts FY15 Electronic Systems sales to $4.25B-$4.35B from $4.55B-$4.65B. Backs FY15 Aerospace Systems sales $4.1B-$4.2B. Backs FY15 Communication Systems sales $1.9B-$2B. Backs FY15 NSS sales $1.1B-$1.2B. The revisions to our Current Guidance compared to our Prior Guidance include: A decrease in consolidated and Electronic Systems segment net sales of $300 million related to the expected divestiture of MSI on May 29, 2015; An increase in segment operating margin of 10 basis points and Electronic Systems segment operating margin of 30 basis points related to the expected divestiture of MSI on May 29, 2015; and An increase of $300 million in planned share repurchases from $500 million to $800 million, funded with the expected proceeds from the MSI divestiture.
07:00 EDTLLLL-3 Communications says book-to-bill ratio gives confidence in 2015 estimates
CEO Michael Strianese commented, “The fundamental growth drivers of our business remained strong during the first quarter as demonstrated by all four of our segments delivering book-to-bill ratios of greater than 1.0x. However, our results for the quarter were below our expectations and were negatively impacted by additional cost growth on international head-of-state aircraft modification contracts in the Platform Systems business of our Aerospace Systems segment. Accordingly, in order to strengthen the Platform Systems management, improve its program performance and enhance its competitiveness, we recently integrated the business into our ISR Systems sector. Additionally, we anticipate opportunities elsewhere in Aerospace Systems later this year that will improve the segment’s results. Despite these challenges, we continued to execute our strategy, capturing key new business wins during the quarter, which resulted in strong funded orders of $2.9 billion and a book-to-bill ratio of 1.06x.”
06:59 EDTLLLL-3 Communications reports Q1 adjusted EPS $1.43, consensus $1.54
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April 29, 2015
10:01 EDTBAHoneywell selected by Southwest for cockpit technologies
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09:26 EDTNOC, GDOn The Fly: Pre-market Movers
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09:17 EDTGDGeneral Dynamics says on track in FY15 expectations
The company notes it is not its policy to change guidance at the end of Q1 and will give a better idea of its FY outlook at the mid point of the year. General Dynamics had previously given FY15 EPS guidance of $8.05-$8.10 on revenue guidance of $31.3B-$31.5B. The company says Aerospace results is not sustainable on margin perspective, specifically identifying "lumpy" nature of margin results in Aerospace. The segment saw favorable mix and tax credits in Q1. The company says it expects to beat margin guidance given in January, but does not know by how much. Expects to update with more specific numbers in Q2. Says impact in results from foreign exchange ranges relating to translation of international operating results. Sees FY15 effective tax rate of 29.5%. The company says it has not changed strategy to deploy free cash flow to share repurchase and dividends. Comments taken from Q1 earnings conference call.
08:14 EDTRTNRaytheon awarded $20M DARPA contract for missile development
The Defense Advanced Research Projects Agency has awarded Raytheon a $20.49M contract modification for the Tactical Boost Glide program. Under the TBG program, Raytheon intends to develop and demonstrate the technology to enable air-launched hypersonic boost glide systems. A majority of the work will be performed in Tucson.
07:35 EDTGDGeneral Dynamics reports total backlog of $70.5B at end Q1
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07:34 EDTGDGeneral Dynamics reports Q1 EPS $2.14, consensus $1.95
Reports Q1 revenue $7.8B, consensus $7.42B. Company-wide operating margins for Q1 were 13.2%, a 120 basis points improvement when compared to 12% in first-quarter 2014. Margins grew in three of the company's four business groups.
07:09 EDTNOCNorthrop Grumman reports Q1 Aerospace sales up 3.2% to $2.5B
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07:08 EDTNOCNorthrop Grumman raises FY15 EPS to $9.40-$9.60 from $9.20-$9.50
FY15 EPS consensus of $9.48. Backs FY15 revenue $23.4B-$23.8B, consensus $23.63B. Backs FY15 segment operating margin 15%. Backs FY15 operating margin in mid-12%. Backs FY15 free cash flow before after-tax discretionary pension contributions $1.7B-$2B. Backs FY15 cash provided by operating activities before after-tax discretionary pensoin contributions $2.4B-$2.7B.
07:06 EDTNOCNorthrop Grumman reports new awards of $6.1B, total backlog up to $38.4B
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07:05 EDTNOCNorthrop Grumman reports Q1 EPS $2.41, consensus $2.27
Reports Q1 revenue $5.96B, consensus $5.76B. Q1 EPS included 23c per share tax benefit resulting from partial resolution of IRS examination.
April 28, 2015
17:36 EDTLMTLockheed Martin awarded $142.68M government contract
Lockheed Martin is being awarded a $142.68M modification to a previously awarded cost-plus-incentive-fee contract to continue development of the Joint Strike Fighter Autonomics Logistics Information System Standard Operating Unit Version 2 capability development effort. This modification includes the incorporation of sub-squadron reporting, dynamic routing, and decentralized maintenance capabilities. Work is expected to be completed in July 2017. Fiscal 2015 research, development, test and evaluation funds in the amount of $18.58M will be obligated at time of award, none of which will expire at the end of the current fiscal year.
15:27 EDTGDGeneral Dynamics technical comments ahead of earnings
The key technical feature on the chart is a potential bearish descending triangle top. This pattern began forming last October. The trigger level for the pattern to become active would be below the $130 level. If that pattern does trigger, downside potential for the pattern is to the $115 area, presuming it completes. If the news is a bullish surprise, the first significant resistance level is at the 50-day moving average at $135.56. A breakout above that level would void the bearish pattern. Next resistance levels to watch as potential upside objectives would be at $136.70 and then at $141.17.
15:07 EDTGD, NOCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 80c... Time Warner (TWX), consensus $1.09... Mondelez (MDLZ), consensus 38c... NextEra Energy (NEE), consensus $1.27... General Dynamics (GD), consensus $1.95... Lumber Liquidators (LL), consensus 16c... Southern Co (SO), consensus 58c... Anthem (ANTM), consensus $2.66... Praxair (PX), consensus $1.44... Norfolk Southern (NSC), consensus $1.00... Eaton (ETN), consensus 98c... Thomson Reuters (TRI), consensus 45c... Franklin Resources (BEN), consensus 86c... Northrop Grumman (NOC), consensus $2.27... Hilton Worldwide (HLT), consensus 12c... Exelon (EXC), consensus 69c... Humana (HUM), consensus $2.56... International Paper (IP), consensus 80c... Hess (HES), consensus ($1.05)... Level 3 Communications (LVLT), consensus 33c... Starwood Hotels & Resorts (HOT), consensus 57c... Ametek (AME), consensus 63c... Garmin (GRMN), consensus 57c... Quintiles Transnational (Q), consensus 71c... New York Community Bancorp (NYCB), consensus 26c... Spirit Aerosystems (SPR), consensus 92c... Spirit Airlines (SAVE), consensus 96c... Brunswick (BC), consensus 61c... KBR (KBR), consensus 17c... Linn Energy (LINE), consensus (20c)... Cullen/Frost Bankers (CFR), consensus $1.09... WEX (WEX), consensus 99c... RPC (RES), consensus 11c... Hercules Offshore (HERO), consensus (38c).
11:12 EDTLMT, NOCNorthrop Grumman to supply navigation system for SBIRS GEO-6 satellite
Northrop Grumman (NOC) has been selected by Lockheed Martin (LMT) to provide the space inertial reference system for the U.S. Air Force's sixth Space Based Infrared System Geosynchronous Earth Orbit satellite. Northrop Grumman will provide its Scalable Space Inertial Reference Unit for sensor pointing/stabilization and attitude control on the SBIRS GEO-6 space vehicle. Northrop Grumman has also provided its Scalable SIRU™ for previous SBIRS GEO satellites, including GEO-5 following the 2014 contract award.
11:01 EDTLLLExelis, L-3 partner to develop electronic warfare solution for AFSOC aircraft
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05:54 EDTLMTLockheed Martin awarded contract by Arabsat and KACST
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April 27, 2015
11:20 EDTFLIRFLIR Systems management to meet with William Blair
Meeting to be held in Baltimore on April 28 hosted by William Blair.
09:14 EDTCOLKopin Rockwell Collins awarded $1.8M by Rockwell Collins
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09:04 EDTLMTLockheed Martin awarded contracts totaling $80M
Lockheed Martin continues to advance C-130 aircrew and maintenance training under recent contract awards from the U.S. Air Force valued at more than $80M. Contracts include the delivery of the following training solutions: A C-130J Air Mobility Command, or AMC, weapon systems trainer and C-130J AMC loadmaster part task trainer at Yokota Air Base in Yokota, Japan; A KC-130J weapons systems trainer, spares, support equipment and technical data; C-130 aircrew training system operations and maintenance services; and C-130J Training System Support Center services.
05:30 EDTNOCNorthrop Grumman to provide gyrocompass nvigation system for Royal Canadian Navy
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05:28 EDTNOCNorthrop Grumman to upgrade Maersk line container ships
Northrop Grumman's Sperry Marine business unit has been selected to upgrade radar and ECDIS systems on more than 80 Maersk Line vessels. The upgrade will replace all previous radar and ECDIS systems on these vessels and will be carried out in Asia and Europe, from 2015 through 2017. Upgrades will include the Sperry Marine VisionMaster FT family of products and market-leading navigation systems such as the NAVIGAT Gyrocompasses, NAVIPILOT and NAVIGUIDE Autopilots and NAVIKNOT Speed Logs.
05:12 EDTNOCNorthrop Grumman announces agreement with Marine Electricals Limited in UAE
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April 24, 2015
09:10 EDTBAAmerican Airlines says 787 deferrals related to balancing supply/demand
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08:03 EDTRTNRaytheon and Germany's Jenoptik partner for Patriot generator production
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07:36 EDTFLIRFLIR Systems sees FY15 EPS ex-items $1.60-$1.70, consensus $1.66
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07:34 EDTBAESYBAE Systems receives 'external interest' in U.S. intelligence & security unit
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07:33 EDTFLIRFLIR Systems reports Q1 EPS 34c, consensus 32c
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April 23, 2015
15:10 EDTBABoeing may consider moving jobs overseas if Ex-Im support falters, Reuters says
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15:01 EDTFLIRNotable companies reporting before tomorrow's open
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11:05 EDTBABoeing says has received 10 new orders since last update
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11:01 EDTNOC, RTNNorthrop Grumman signs long-term agreement with Raytheon for LN-200 IMUs
Northrop Grumman Corporation (NOC) has entered a long-term agreement with Raytheon Company (RTN) to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon's Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various guided munitions. An initial purchase order valued at $2M was placed in December.
07:39 EDTCOLRockwell Collins sees FY15 EPS $5.10-$5.30, consensus $5.23
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07:38 EDTCOLRockwell Collins backs FY15 guidance
07:38 EDTCOLRockwell Collins reports Q1 cont ops EPS $1.22, consensus $1.21
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07:10 EDTRTNRaytheon sees FY15 EPS from continuing ops $6.67 - $6.82, consensus $6.42
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07:08 EDTRTNRaytheon reports Q1 adjusted EPS $1.26, consensus $1.42
Reports Q1 revenue $5.3B, consensus $5.22B. Reports Q1 EPS from continuing operations of $1.78. Backlog at the end of Q1 was $32.5B and funded backlog was $23.7B, an increase of approximately $1.0B compared to the first quarter 2014.
06:54 EDTBABoeing weakness creates buying opportunity, says Bernstein
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April 22, 2015
18:02 EDTCOLRockwell Collins increases dividend 10% to 33c
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15:50 EDTCOL, RTNNotable companies reporting before tomorrow's open
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12:31 EDTBAOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having been on a bit of a see-saw during morning trading. The averages opened in positive territory, soon turned negative, then back into positive ground following the release of a better than expected existing home sales report. The housing data was followed by a lift in the averages, which remained in positive ground near noon. ECONOMIC EVENTS: In the U.S., existing home sales rose 6.1% to a 5.19M rate in March, which was better than the expected 3.1% increase to a rate of 5.03M. Crude oil inventories built up by 5.32M barrels last week, which was more than the consensus forecast for a 3.2M barrel build. In Asia, Japan's Nikkei 225 average closed above 20,000 for the first time since April 2000. In Europe, Germany raised its economic growth forecast for 2015 to 1.8%, which was up from the 1.5% growth it said it expected in January. COMPANY NEWS: Shares of McDonald's (MCD) advanced 2% after the company reported headline earnings that missed expectations but also said it is developing a turnaround plan to improve its performance and deliver "enduring profitable growth" that it plans to share in the first week of May. Also rising after its quarterly report was another globally recognized brand, Coca-Cola (KO), whose shares gained 1% after its comparable earnings per share topped the consensus estimate. A third member of the Dow, Boeing (BA), slid over 2.5% after its earnings beat expectations but its revenue fell short of the consensus forecast... Visa (V) rose 5% and MasterCard (MA) advanced over 4% after China's State Council announced overnight that the country will regulate the market access for bankcard transaction clearing institutions, which analysts think might allow both companies to compete for the processing of domestic transactions in the country. MAJOR MOVERS: Among the notable gainers was Angie's List (ANGI), which jumped 12% after the company reported it was profitable in the first quarter and announced an exclusive relationship that will see carpet manufacturer Shaw Industries give the company's members exclusive product offers. Also higher was ASML (ASML), which gained 11% after announcing that it has signed an agreement with one of its "major U.S. customers" to deliver a minimum of 15 ASML EUV, or Extreme Ultraviolet, lithography systems. Afterward, Summit Research said it thinks the most likely buyer is Intel (INTC), which the firm believes does not want to be left behind if TSMC (TSM) puts EUV to use in 10nm processing. Among the noteworthy losers was Natural Resource Partners (NRP), which dropped 19% after the company slashed its quarterly distribution by 75% to 9c per unit. Also lower following their earnings reports were ADTRAN (ADTN), which fell over 9%, Cree (CREE), which slid 9%, and Chipotle Mexican Grill (CMG), which declined 6%. INDEXES: Near midday, the Dow was up 28.69, or 0.16%, to 17,978.28, the Nasdaq was up 6.66, or 0.13%, to 5,020.77, and the S&P 500 was up 5.24, or 0.25%, to 2,102.53.
11:06 EDTBABoeing says view on cash flow is 'very solid,' remains unchanged
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10:47 EDTBABoeing sees FY15 operating cash flow more than $9B
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10:41 EDTBABoeing says 737 Max on track for first delivery in 2017
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10:37 EDTBABoeing says order deferrals are pacing below historic levels
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10:01 EDTGDGeneral Dynamics NASSCO awarded $23M for LCS sustainment
General Dynamics NASSCO has been awarded a $24.1M contract by the U.S. Navy for Littoral Combat Ships, or LCS, sustainment execution in support of LCS' home-ported in or visiting San Diego. General Dynamics NASSCO is a business unit of General Dynamics. Under the contract, General Dynamics NASSCO will plan, furnish material and provide support and facilities to maintain and modernize twelve LCS-class ships. This contract covers both variants, Freedom and Independence. These ships are fast, agile, focused-mission platforms designed for operation in near-shore environments and capable of open-ocean operation.
07:35 EDTBABoeing backs FY15 core EPS $8.20-$8.40, consensus $8.49
Backs FY15 revenue $94.5B-$96.5B, consensus $94.79B. Backs FY15 operating cash flow to be greater than $9B. Backs FY15 Commercial Airplanes revenue $64.5B-$65.5B, 750-755 deliveries, and operating margin of 9.5%-10%. Sees FY15 BDS revenue $29.5B-$30B and BDS operating margin 9.75%-10%. Sees FY15 CapEx $2.8B and R&D $3.5B. Sees FY15 effective tax rate of approximately 30.5%.
07:33 EDTBABoeing reports Q1 Commercial Airplanes revenue up 21% to $15.38B
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07:32 EDTBABoeing reports backlog remains at $495B with 5,700 commercial airplane orders
07:31 EDTBABoeing reports Q1 non-GAAP EPS $1.97, consensus $1.81
Reports Q1 revenue $22.15B, consensus $22.49B
07:07 EDTBADucommun wins multiyear contract from Rolls-Royce for Trent 1000-TEN engine
Ducommun (DCO) announced that it has been selected by Rolls-Royce Holdings (RYCEY) to produce complex interconnect systems for the Trent 1000-Ten engine – which will power all variants of the Boeing (BA) 787 Dreamliner. Ducommun will manufacture these products through 2022 at its operation centers in Joplin, Mo. and Guaymas, Mexico. The Trent 1000-TEN engine is scheduled to be certified by the European Aviation Safety Agency before the end of 2015.
April 21, 2015
15:28 EDTBANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 42c... Boeing (BA), consensus $1.81... McDonald's (MCD), consensus $1.06... EMC (EMC), consensus 36c... Abbott Laboratories (ABT), consensus 42c... Thermo Fisher Scientific (TMO), consensus $1.61... Bank of New York Mellon (BK), consensus 59c... TE Connectivity (TEL), consensus $1.01... T. Rowe Price Group (TROW), consensus $1.14... St. Jude Medical (STJ), consensus 91c... Amphenol (APH), consensus 56c... Nielsen (NLSN), consensus 47c... Citizens Financial Group (CFG), consensus 34c... Autoliv (ALV), consensus $1.31... D.R. Horton (DHI), consensus 38c... Westinghouse Air Brake Technologies (WAB), consensus 95c... Huntington Bancshares (HBAN), consensus 19c... SEI Investments (SEIC), consensus 49c... AutoNation (AN), consensus 89c... Gentex (GNTX), consensus 25c... Ryder System (R), consensus $1.00... Owens Corning (OC), consensus 13c... NuStar Energy (NS), consensus 58c... Six Flags (SIX), consensus (67c)... Tupperware Brands (TUP), consensus 98c... MarketAxess Holdings (MKTX), consensus 64c... Lithia Motors (LAD), consensus $1.22... Knight Transportation (KNX), consensus 31c... Evercore Partners (EVR), consensus 58c... Potlatch (PCH), consensus 19c... Natus Medical (BABY), consensus 29c... AZZ (AZZ), consensus 59c... United Community Banks (UCBI), consensus 29c... Sonus Networks (SONS), consensus (31c)... Angie's List (ANGI), consensus 0c... Pacific Premier Bancorp (PPBI), consensus 27c.
13:45 EDTRTNPoland to buy eight Patriot missile batteries from Raytheon, Reuters says
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13:11 EDTBAEarnings Watch: Boeing expects Q1 core EPS to be smallest in FY15
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08:18 EDTRTNBernstein cautious on Raytheon acquisition of Websense
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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.
07:29 EDTLMTLockheed Martin reports Q1 Aeronautics sales $3.13B
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07:28 EDTLMTLockheed Martin raises FY15 EPS to $10.85-$11.15 from $10.80-$11.10
FY15 EPS consensus of $11.14. Backs FY15 revenue $43.5B-$45B, consensus $44.65B. Backs FY15 orders $43.5B-$45B. Raises FY15 consolidated operating profit to $5.35B-$5.5B from $5.3B-$5.45B. Raises FY15 business segment operating profit to $5.15B-$5.3B from $5.1B-$5.25B.
07:26 EDTLMTLockheed Martin reports Q1 EPS $2.74, consensus $2.50
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07:09 EDTBABoeing April weekly volatility elevated into Q1 and outlook
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