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February 14, 2014
08:21 EDTORBOrbital Sciences price target raised to $31-$32 from $25-$26 at Wells Fargo
Wells Fargo increased its price target on Orbital Sciences after the company raised its 2014 free cash flow outlook. The firm believes that the company has superior organic growth and is at the start of a multi-year period of very strong cash generation. It keeps an Outperform rating on the stock.
News For ORB From The Last 14 Days
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November 19, 2014
17:30 EDTORBATK reaffirms FY15 standalone guidance
17:25 EDTORBATK Sporting strategy remains on track
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17:23 EDTORBATK board continues to support merits of Orbital transaction
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17:18 EDTORBATK says CRS impact on Orbital earnings, cash flow minimal
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November 18, 2014
12:51 EDTORBOrbital awarded $185M contract by NASA
Orbital Sciences Corporation announced that its Technical Services Division in Greenbelt, MD was awarded a contract by NASA to operate the space agency’s Science Balloon Operations program. The contract, which was won in a competitive selection process, is valued up to approximately $185M over its five-year term.
November 17, 2014
18:01 EDTORBATK, Orbital continue to support plans for merger
Alliant Techsystems (ATK) and Orbital Sciences (ORB) announced that the two companies have set January 27, 2015 as the new date for their separate, special stockholder meetings in connection with the proposed transaction to spin off ATK's Sporting Group business and immediately thereafter, merge ATK's Aerospace and Defense Groups with Orbital. On October 28, both companies communicated they would hold separate, special stockholder meetings on December 9, for ATK stockholders to vote on the issuance of shares to stockholders of Orbital and for Orbital stockholders to vote on the proposed transaction. Following this announcement on October 28, a failure occurred during Orbital's Antares launch. Since the incident, the companies have conducted a thorough review and analysis of the launch failure and Orbital's proposed recovery plan and long-term competitive position. Following this review, ATK's board of directors continues to support the strategic merits of the transaction and recommends that ATK stockholders vote to approve the issuance of shares to Orbital stockholders. Orbital's board of directors also continues to recommend that Orbital stockholders vote to approve the proposed transaction. As a result of the Antares launch failure and the time required to complete the subsequent review process, the companies have postponed the special stockholder meetings until January 27, 2015, to be held at each company's respective corporate headquarters. ATK and Orbital stockholders of record as of the close of business on December 16 will be entitled to vote at their respective special stockholder meetings. The record date for the spinoff will be determined and publicly announced at a later date. The transaction is expected to close in February 2015, and is subject to customary closing conditions including regulatory approvals and the approval of both ATK's and Orbital's stockholders. Additional information concerning the special meetings and the transaction will be included in an amendment to the ATK registration statement on Form S-4, which will be filed with the Securities and Exchange Commission and, once declared effective, the joint proxy statement/prospectus will be mailed to ATK and Orbital stockholders who are entitled to vote at the respective special meetings.
November 13, 2014
07:39 EDTORBOrbital claim on Antares financial impact may be reasonable, says Wells Fargo
After Orbital said the financial impact from the recent Antares launch failure should not be material, Wells Fargo says the claim may be reasonable. The firm says the non-Antares rockets the company now plans to launch should cost roughly the same as the remaining Antares rockets it was going to launch. The firm keeps an Outperform rating on Orbital.
November 10, 2014
12:54 EDTORBOrbital ATK lays out guidance for combined company
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