News For LMT From The Last 14 Days Check below for free stories on LMT the last two weeks.
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February 8, 2010
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| 10:13 EDT |  | LMT |
| theflyonthewall.com: | Team K-MAX demonstrates successful unmanned helicopter resupply | | Lockheed Martin (LMT) and Kaman Aerospace, a subsidiary of Kaman (KAMN) have successfully demonstrated to the U.S. Marine Corps the capability of the Unmanned K-MAXR helicopter to resupply troops by unmanned helicopter at forward operating bases in Afghanistan. :theflyonthewall.com |
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February 4, 2010
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| 10:31 EDT | | LMT |
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February 3, 2010
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| 12:00 EDT | | LMT |
| theflyonthewall.com: | Pentagon would like competition for new aerial refueling tankers, Reuters says | | U.S. Defense Secretary Gates said that the Pentagon would like a competition for a new aerial refueling tankers. At the same time, he says the process will move forward "even if there is only one bidder," Reuters reports. :theflyonthewall.com |
| | 10:01 EDT | | LMT |
| theflyonthewall.com: | Lockheed Martin awarded $30.8M for DARPA's NCR program | | Lockheed Martin was awarded a $30.8M contract for Phase II of the Defense Advanced Research Projects Agency National Cyber Range program. It follows completion of a $5.4M contract for the initial development phase of the NCR awarded in early 2009. DARPA's NCR is part of the Comprehensive National Cybersecurity Initiative, a major government-wide effort to increase the nation's defenses against electronic attack. :theflyonthewall.com |
| | 07:29 EDT |  | LMT |
| | 07:26 EDT | | LMT |
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February 2, 2010
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| 10:22 EDT | | LMT |
| | 07:08 EDT | | LMT |
| theflyonthewall.com: | Defense Department wants over $700B in fiscal 2011, WSJ reports | | The Obama administration wants a record $708B for the Defense Department in fiscal 2011, reports the Wall Street Journal. The budget is Defense Secretary Gates' move to shore up unconventional warfare capabilities. As a result, the administration, with Congresses help, is trying to kill alternate engines for Lockheed Martin's (LMT) F-35 fighter and Boeing's (BA) C-17 transport plane. Reference Link :theflyonthewall.com |
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February 1, 2010
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| 13:25 EDT | | LMT |
| theflyonthewall.com: | Defense Secretary says will withhold fees from Lockheed Martin, Reuters reports | | Defense Secretary Gates said that the pentagon could buy over 42 F-35 fighters included in the FY11 budget, depending on contractor performance. Gates said he will "strongly recommend" a presidential veto if Congress funds the Boeing (BA) C-17, Reuters reports, and said $614M in performance fees will be withheld from Lockheed Martin (LMT) for performance issues on the F-35. . :theflyonthewall.com |
| | 12:42 EDT | | LMT |
| theflyonthewall.com: | Obama kills NASA shuttle, lunar plans, Fox News reports | | The Obama administration is canceling NASA's current space shuttle replacement- and lunar exploration-plan and is prepared to fight any congressional effort to save it, Fox News reports. Their plan is to kill NASA's Constellation program, a five-year-old effort to replace the aging space shuttle fleet with new rockets and spacecraft with the intent to return astronauts to the moon. Reference Link :theflyonthewall.com |
| | 08:13 EDT | | LMT |
| theflyonthewall.com: | Defense contracts are playing defense, WSJ reports | | Defense contractors are facing a new reality: Budget pressures on governments are affecting their profits, even if some consider this be the low point, reports the Wall Street Journal. Reference Link :theflyonthewall.com |
| | 06:39 EDT | | LMT |
| theflyonthewall.com: | U.S. expands land and sea missile defense systems in the Gulf, Reuters reports |
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| | 06:25 EDT | | LMT |
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January 29, 2010
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| 07:51 EDT |  | LMT |
| theflyonthewall.com: | Correction:General Dynamics,Lockheed to benefit from budget, says Wells Fargo |
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| | 07:15 EDT | | LMT |
| | 06:46 EDT | | LMT |
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January 28, 2010
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| 06:36 EDT |  | LMT |
| theflyonthewall.com: | Lockheed Martin backs FY10 revenue of $46.25B-$47.25B vs. consensus of $46.92B |
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| | 06:34 EDT | | LMT |
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January 27, 2010
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| 16:43 EDT |  | LMT |
| theflyonthewall.com: | On The Fly: U.S. Market Wrap-Up for Wednesday 1/27 | | The markets opened slightly lower but quickly advanced into positive territory. The move, however, was short-lived. After a disappointing new home sales report brought out the sellers, the markets drifted lower. Once they crossed back into negative territory, the selling accelerated until each of the major indices was lower by at least 0.50%. The averages sat in a narrow range until the release of the FOMC rate decision. The knee jerk reaction was to sell on the news, but the averages quickly reversed and pushed into positive territory by the close…The Dow rose 41.87 to 10,236.16, the S&P gained 5.33 to 1,097.50, and the Nasdaq added 17.68 to 2,221.41…Among the biggest gainers: Sanmina-SCI Corp. (SANM) surged 15% to $14.15 after beating Q1 EPS estimates by a wide margin. Super Micro Computer (SMCI) soared 16.3% to $13.50 after forecasting better-than-expected Q3 EPS estimates…The losers included: Caterpillar (CAT) which slumped 4.3% to $53.44 after reporting Q4 earnings that fell 65%. The company also issued a disappointing FY10 forecast. Jackson Hewitt (JTX) dropped 16.5% to 2.94 after reporting that it does not believe it can finance its refund anticipation loans…CURRENCY: The dollar closed 0.36% higher on the yen at 89.93 and 0.41% lower on the euro at 0.7132…COMMODITIES: Crude oil closed down 1.05 to 73.66...Natural gas lost 0.19 to 5.24...Gold was lower by 13.00 to 1,086.50…ECONOMIC DATA: New Home Sales for December fell 7.6% to an annual sales rate of 342K versus a consensus range of 350K to 385K. MBA Purchase Applications for the week of 1/22 fell 3.3%. Crude Inventories for the week of January 22 were down -3.88M vs. consensus of 1.5M build. Gasoline inventories 1.99M vs. consensus of 900K build. Distillates 358K vs. consensus of 1.8M draw. The FOMC left interest rates unchanged between 0%-0.25% and expects rates to remain low for “an extended period.” They also said that MBS purchases will end in March as scheduled. Tomorrow…Durable Goods Orders, Jobless Claims, and EIA Natural Gas Report are due…Notable companies reporting Thursday before the opening bell include: Altria Group (MO), AT&T (T), Ball Corporation (BLL), Becton Dickinson and Company (BDX), Bemis (BMS), Bristol-Myers Squibb (BMY), Cardinal Health (CAH), Celgene (CELG), Consol Energy (CNX), Dominion Resources (D), Eastman Kodak (EK), EQT Corporation (EQT), Ford (F), Franklin Resources (BEN), Goodrich (GR), Invesco (IVZ), Janus Capital (JNS), L-3 Communications (LLL), Life Technologies (LIFE), Lockheed Martin (LMT), Motorola (MOT), Raytheon (RTN), Rockwell Collins (ROK), Textron (TXT), The Estee Lauder Companies (EL), Timer Warner Cable (TWC), Xcel Energy (XEL), and Zimmer Holdings (ZMH). :theflyonthewall.com |
| | 15:32 EDT | | LMT |
| | 14:02 EDT | | LMT |
| theflyonthewall.com: | Earnings Preview: Lockheed Martin growth rests with F-35 Joint Strike Fighter | | Lockheed Martin Corp. (LMT) is expected to report Q4 earnings on Thursday, January 28 before the market open with a conference call scheduled for 3:00 pm ET. Analysts are looking for EPS of $1.99 on revenue of $12.47B. The consensus range is $1.84-$2.09 for EPS, and $12.15B-$12.65B for revenue, according to First Call. On October 20, the company raised its FY09 EPS guidance to $7.40-$7.60 from prior $7.15-$7.35. It also expects its FY11 and FY12 revenue to grow roughly 5% due to the expansion of the F-35 Joint Strike Fighter program. It is clear that Lockheed executives believe the company will grow top and bottom line results over the next several years specifically because of this program. A recent report from Reuters claiming that the government plans to cut production of the plan by 122 planes through FY15 did little to discourage that positive sentiment. Concerns about cost overruns and delays have only added to investor anxiety. While short term results will not be affected by the F-35 program, it’s clear that the 2-5 year growth estimates of the company rest squarely with its success or failure. On January 6, Goldman Sachs downgraded the company to Sell from Neutral and lowered their price target to $64. On January 7, it was downgraded to Neutral from Buy at Broadpoint, with a $73 price target. In both instances, challenges to the F-35 program were cited. The stock has traded sideways in recent months in a very narrow range. An earnings surprise will likely be needed to break it out of this channel. :theflyonthewall.com |
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