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January 23, 2013
13:00 EDTLMTEarnings Preview: Lockheed Martin shares near three-year high ahead of Q4 report
Lockheed Martin (LMT) is expected to report Q4 earnings on Thursday, January 24 before the market open with a conference call scheduled for 3:00 pm ET. Lockheed Martin is a globally diversified security and aerospace company... EXPECTATIONS: Analysts are looking for EPS of $1.82 on revenue of $11.16B, according to First Call. The consensus range for EPS is $1.73-$2.00 on revenue of $10.58B-$11.55B... LAST QUARTER: Lockheed Martin reported Q3 EPS of $2.21 against estimates for $1.85 on revenue of $11.87B against estimates for $11.17B. On its Q3 earnings report, the company raised its 2012 EPS and revenue views. FY12 EPS guidance was raised to $8.20-$8.40 from $7.90-$8.10, consensus $8.10. FY12 revenue was upped to $45.5B-$46.5B from $45B-$46B, consensus $45.68B. Lockheed also expected FY13 revenue to decline in the low single digit range. On November 9, the company announced a CEO transition with the appointment of Marilyn Newson as CEO and COO, replacing Christopher E. Kubasik who resigned after an ethics investigation... STREET RESEARCH: Street research has been positive in the weeks leading up to Lockheed's Q4 earnings report. On November 26, Bernstein upgraded the company to Outperform from Market Perform based on an improving outlook for the F-35 and growing international demand. They raised their price target to $111 from $105. On November 30, CRT Capital upgraded Lockheed to Fair Value from Sell, saying the company’s dividend yield would provide a floor for the shares in the near term... PRICE ACTION: Lockheed shares have traded in a choppy pattern following the company's Q3 report, but have recently advanced and currently sit near 52-week and three-year highs of $95.92. In early afternoon trading ahead of tomorrow's Q4 report, Lockheed’s shares are up slightly to $95.76.
News For LMT From The Last 14 Days
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October 5, 2015
09:31 EDTLMTLockheed Martin's Sniper Targeting Pod selected by Netherlands Air Force
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October 4, 2015
15:04 EDTLMTThales in talks to provide light armored vehicles for Australia, WSJ says
Australia is in advanced talks to purchase a number of Hawkei light armored vehicles from French defense firm Thales, reports the Wall Street journal, citing two people familiar with the matter. Companies in the space include BAE Systems (BAESY), Lockheed Martin (LMT), and Oshkosh (OSK). Reference Link
October 2, 2015
18:41 EDTLMTLockheed Martin weighs merger of services units with competitor, Reuters says
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October 1, 2015
17:25 EDTLMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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September 30, 2015
19:57 EDTLMTDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
17:49 EDTLMTLockheed Martin awarded $392.02M government contract
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06:51 EDTLMTUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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September 24, 2015
13:50 EDTLMTLockheed Martin raises share repurchase authorization by $3B
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12:51 EDTLMTLockheed Martin raises quarterly dividend 10% to $1.65 per share
The dividend is payable on December 24 to holders of record as of the close of business on December 1.
08:04 EDTLMTLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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07:43 EDTLMTMarket overly negative on Aerojet Rocketdyne, says Oppenheimer
After Boeing (BA) rejected an unsolicited offer from Aerojet Rocketdyne (AJRD) for United Launch Alliance, a 50/50 joint venture of Boeing and Lockheed Martin (LMT), Oppenheimer thinks the market's reaction to the news ignores Aerojet's positive catalysts. The firm says that the news will not impact Aerojet's operations until 2019 and will probably not have an impact of more than about $115M. The firm keeps a $26 price target and Outperform rating on Aerojet.
September 23, 2015
17:52 EDTLMTLockheed Martin awarded $120.4M government contract modification
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