|December 17, 2012|
|07:33 EDT||LMT||Pentagon finalizes $3.8B deal with Lockheed Martin for 32 F-35s, Reuters reports|
The Defense Department finalized a contract for the purchase of a fifth group of radar-evading F-35 fighter aircraft from Lockheed Martin Corp. (LMT), in a deal valued at $3.8B for 32 planes, the costliest weapons program in U.S. history, reports Reuters. Reference Link
News For LMT From The Last 14 Days
|November 30, 2015|
|17:04 EDT||LMT||On The Fly: Top stock stories for Monday|
After seeing an early-morning jump, stocks on Wall Street spent Monday's trading session generally lower amid a glut of reports on Black Friday and Cyber Monday sales trends as well as weaker than expected financial data on manufacturing and home sales. ECONOMIC EVENTS: In the U.S., the Chicago purchasing managers' index dropped 7.5 points to 48.7 in November, coming in much worse than the expected 54.0 reading. Pending home sales for October, meanwhile, rose 0.2% from the prior month, lower than the forecasted 1% monthly increase. The Dallas Fed's manufacturing index rose 7.8 points to -4.9 in November, which was better than the anticipated -10.0 reading. The National Retail Federation said that about 151M people say they shopped in-store or on-line over the past four days, compared with 136M who said in a mid-November survey that they planned to shop over the holiday period. Also, as expected, the International Monetary Fund Monday added the Chinese yuan to the the fund's basket of reserve currencies, joining the U.S. dollar, the euro, the Japanese yen and the British pound. COMPANY NEWS: Shares of Amazon (AMZN) spiked momentarily on Monday morning amid media reports that the company was seeing a strong start to the holiday sales season, with ChannelAdvisor reporting same-store sales growth of above 20% for the e-commerce giant over Black Friday and the rest of the long Thanksgiving weekend. By session close, however, the shares gave up their early gains, falling 1.26% to $664.80. Meanwhile, Target (TGT) slipped 1.28% to $72.50 as shoppers visiting the company's website in search of Cyber Monday deals encountered intermittent delays, which the company pinned on record sales volumes. Fellow retailer Wal-Mart (WMT) dipped 1.70% to $58.87, while specialty names Express (EXPR), Urban Outfitters (URBN), and Guess? (GES) fell a respective 5.48%, 5.29%, and 6.68%. MAJOR MOVERS: Among the notable gainers were a number of renewable fuel companies, with Pacific Ethanol (PEIX) and Renewable Energy Group (REGI) advancing a respective 21.12% and 6.50% after the EPA finalized its biofuel targets. Petroleum refiners HollyFrontier (HFC) and Tesoro (TSO) slipped 3.30% and 1.74%, respectively, following the news, while oil majors Exxon Mobil (XOM) and Chevron (CVX) closed the day up a respective 0.69% and 1.24%. Also higher was ITC Holdings (ITC), which jumped $3.11, or 9.21%, to $36.86 following a Bloomberg report that the company is exploring a potential sale. Separately, Microsoft (MSFT) rose 42c, or 0.78%, to $54.35 after research firm Raymond James upgraded the company two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's various segments. Among the noteworthy losers was Lockheed Martin (LMT), which declined $6.65, or 2.94%, to $219.26 after Barclays downgraded the shares to Underweight from Equal Weight, saying it "doesn't make sense" to expect further outperformance from the defense major. Also lower was Under Armour (UA), which fell $3.43, or 3.82%, to $86.25 after Piper Jaffray analyst Erinn Murphy cut her price target on the stock following visits to malls and retailers Thanksgiving night, reportedly finding evidence of deeper discounts than last year. Additionally, Lululemon (LULU) lost 8.91% to $47.82 after being downgraded to Underperform from Market Perform at FBR Capital after the research firm discovered "significantly higher" clearance levels on company products in-store and online. INDEXES: The Dow fell 78.57, or 0.44%, to 17,719.92, the Nasdaq lost 18.86, or 0.37%, to 5,108.67, and the S&P 500 slipped 9.70, or 0.46%, to 2,080.41.
|10:48 EDT||LMT||General Dynamics gains as Barclays shuffles ratings on major defense stocks|
Shares of General Dynamics (GD) rose, while Lockheed Martin (LMT) and Raytheon (RTN) fell in morning trading after an analyst from Barclays shuffled his rating on the three defense companies. ANALYST ACTIONS: Barclays analyst Carter Copeland upgraded General Dynamics to Overweight from Equal Weight and maintained a $157 price target on shares, saying that Gulfstream-related fears are "overly discounted" at the current price. The analyst added that the company has the best risk/reward chances of any company in the sector, despite its recent lag in its valuation. In other moves, Copeland downgraded Lockheed Martin to Underweight from Equal Weight on valuation and lowered the price target to $210 from $215. The Barclays analyst said that Lockheed's 2016/2017 consensus estimates need to come down 8%10% as the company's new segments will likely a have lower multi-year profile than investors currently believe. Copeland added that "there's a lot to like" about Lockheed Martin, but that it "doesn't make sense" to expect further outperformance. The analyst also downgraded Raytheon to Equal Weight from Overweight with a $125 price target, also citing valuation. Copeland said that the defense contractor has reached the firm's price target and that "not much has changed" from a fundamental perspective to argue for further expansion. INDUSTRY VIEW: Copeland maintained his neutral stance on the defense sector as a whole given macro uncertainties elsewhere as well as terrorism-related fears but despite higher valuations. The Barclays analyst said that recent moves have motivated the firm to alter its ratings of companies in the sector, placing General Dynamics at the top of its rank-order preference, then Northrop Grumman (NOC), Raytheon, L-3 Communications (LLL), Lockheed Martin and Huntington Ingalls (HII) "at the bottom." SECTOR PEERS: The analyst added that defense peer Huntington Ingalls seems to be the best structural underperformer despite its recent rally, while Northrop Grumman has become arguably the best fundamental story in the industry. Copeland also said that L-3's improvements are "arguably priced in," though the company has much to do without any assurance of success. The analyst said he still prefers Orbital ATK (OA) and Harris (HRS) to the "defense primes" and anticipates upside to warrant Overweight ratings. PRICE ACTION: In morning trading, General Dynamics gained 0.78% to $146.70, while Lockheed Martin fell 2.2% to $220.95, Raytheon declined 1.32% to $125.15. Huntington Ingalls fell 0.5% to $132.11, Northrop Grumman declined 0.14% to $188.14, L-3 fell 1.09% to $123.11, Orbital ATK dropped 0.35% to $86.10. Meanwhile, Harris gained 0.52% to $83.53.
|10:03 EDT||LMT||Lockheed Martin-led team issued remaining funding for USS Cooperstown|
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|10:00 EDT||LMT||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Abengoa Yield (ABY) downgraded on CEO change at Canaccord... Allegiant Travel (ALGT) downgraded to Market Perform from Outperform at Raymond James... American Eagle (AEO) downgraded to Perform from Outperform at Oppenheimer... Beacon Roofing (BECN) downgraded to Equal Weight from Overweight at Stephens... Boulder Brands (BDBD) downgraded to Hold from Buy at Wunderlich... Changyou.com (CYOU) downgraded to Sell from Neutral at Goldman... Coty (COTY) downgraded to Underweight from Equal Weight at Morgan Stanley... FedEx (FDX) downgraded to Peer Perform from Outperform at Wolfe Research... Lockheed Martin (LMT) downgraded to Underweight from Equal Weight at Barclays... Marriott (MAR) downgraded to Hold from Buy at Evercore ISI... Medifast (MED) downgraded to Neutral from Buy at Sidoti... PACCAR (PCAR) downgraded to Sector Perform from Outperform at RBC Capital... Prestige Brands (PBH) downgraded to Underperform from Hold at Jefferies... Prologis (PLD) downgraded to Market Perform from Outperform at Wells Fargo... Raytheon (RTN) downgraded to Equal Weight from Overweight at Barclays... SINA (SINA) downgraded to Neutral from Buy at Goldman... Seadrill Partners (SDLP) downgraded to Perform from Outperform at Oppenheimer... Sohu.com (SOHU) downgraded to Sell from Neutral at Goldman... SouFun (SFUN) downgraded to Neutral from Buy at Goldman... Starwood (HOT) downgraded to Hold from Buy at Evercore ISI... TerraForm Global (GLBL) downgraded to Market Perform from Outperform at Avondale... TerraForm Power (TERP) downgraded to Market Perform from Outperform at Avondale... lululemon (LULU) downgraded to Underperform from Market Perform at FBR Capital.
|05:44 EDT||LMT||Lockheed Martin downgraded to Underweight from Equal Weight at Barclays|
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|05:42 EDT||LMT||General Dynamics upgraded to Overweight from Equal Weight at Barclays|
Barclays analyst Carter Copeland upgraded General Dynamics (GD) to Overweight saying Gulfstream-related fears are overly discounted in the stock at current levels. Shares offer the best risk/reward in U.S. Aerospace & Defense, Copeland tells investors in a research note. He keeps a $157 price target for the stock. The analyst this morning also downgraded Lockheed Martin (LMT) to Underweight and Raytheon (RTN) to Equal Weight.
|November 19, 2015|
|10:01 EDT||LMT||Lockheed Martin selected by Swedavia to deliver new operational systems|
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|November 18, 2015|
|07:42 EDT||LMT||Lockheed Martin reinstated with a Neutral at Credit Suisse|
|November 17, 2015|
|18:45 EDT||LMT||Lockheed Martin receives FAA approval for hybrid airship certification plan|
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|November 16, 2015|
|19:40 EDT||LMT||Lockheed Martin-Boeing JV won't bid for next U.S. satellite launch, Reuters says|
Lockheed Martin (LMT) and Boeing's (BA) joint venture won't bid for the next U.S. GPS satellite launch due to the structure of the competition and because the venture didn't have engines for its Atlas 5 rocket. Reference Link
|10:27 EDT||LMT||Harris & Harris says D-Wave enters into multi-year deal with Lockheed Martin |
Harris & Harris Group (TINY) notes that its portfolio company, D-Wave Systems, Inc., announced that it has entered into a multi-year agreement with Lockheed Martin (LMT) to upgrade the company's 512-qubit D-Wave Two quantum computer to the new D-Wave 2X system with 1,000+ qubits. This represents the second system upgrade since Lockheed Martin became D-Wave's first customer in 2011 with the purchase of a 128-qubit D-Wave One system. The agreement includes the system, maintenance and associated professional services. The new system will be hosted at the University of Southern California-Lockheed Martin Quantum Computation Center, which first began exploring the power of quantum computing with the D-Wave One, the world's first quantum computer. The installation of the D-Wave 2X system is expected to be completed in January 2016.
|09:03 EDT||LMT||Lockheed Martin entered into multi-year agreement with D-Wave Systems |
D-Wave Systems announced that it has entered into a multi-year agreement with Lockheed Martin to upgrade the company's 512-qubit D-Wave Two quantum computer to the new D-Wave 2X system with 1,000+ qubits. This represents the second system upgrade since Lockheed Martin became D-Wave's first customer in 2011 with the purchase of a 128-qubit D-Wave One system. The agreement includes the system, maintenance and associated professional services.