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Stock Market & Financial Investment News

News Breaks
August 18, 2014
11:10 EDTRTNRaytheon eBorders ruling a positive for shares, says Wells Fargo
Wells Fargo views the eBorders contract ruling in favor of Raytheon as a positive for the stock. Wells notes there could still be an additional interest payable to Raytheon that will be ruled at a later date. It keeps an Outperform rating on the stock.
News For RTN From The Last 14 Days
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April 21, 2015
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.
April 20, 2015
12:35 EDTRTNCybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
09:19 EDTRTNRaytheon likely to trade down on joint venture news, says Wells Fargo
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07:05 EDTRTNRaytheon and Vista Equity agree to form cybersecurity company
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05:59 EDTRTNRaytheon expected to acquire control of Websense, form new venture, WSJ reports
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April 19, 2015
17:01 EDTRTNRaytheon to acquire Vista's Websense for $1.9B, Bloomberg says
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April 17, 2015
08:32 EDTRTNRaytheon awarded more than $2B for Patriot Air and Missile Defense System
Raytheon announced it has been awarded a contract worth over $2B to deliver the combat-proven Patriot Air and Missile Defense System to an undisclosed international customer. The contract, awarded on April 2, 2015 and booked in the second quarter as a direct commercial sale, includes fully digitized new-production Patriot fire units with the latest technology for improved threat detection, identification and engagement. The contract also includes a full training package and support equipment.
April 15, 2015
08:13 EDTRTNRaytheon's Joint Standoff Weapon variant enters operational testing
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April 14, 2015
14:02 EDTRTNRaytheon to test new multi-mode seeker for Tomahawk cruise missile
Using company-funded independent research and development investment, Raytheon is preparing for a multi-mode seeker test designed for a Tomahawk Block IV cruise missile. The captive flight test, using a modified Tomahawk Block IV missile nose cone, will be designed to demonstrate the processor's ability to broadcast active radar as well as passively receive target electromagnetic radiation, which was demonstrated in February 2014. This is a critical step in enabling the missile to strike moving targets on land and at sea. During the test, planned for the second quarter, the nosecone of a Tomahawk Block IV missile will be equipped with active and passive radio frequency antennas integrated with Raytheon's new modular, multi-mode processor and fitted to a T-39 aircraft. Flying at high subsonic speed and at varying altitudes, the aircraft will simulate a Tomahawk flight regime. The multi-mode seeker and multi-function processor will operate the active radar against fixed and mobile targets on land and at sea, in a complex, high density electromagnetic environments.
08:01 EDTRTNRaytheon and US Air Force completes operational tests of MALD-J
Raytheon and the U.S. Air Force successfully completed operational tests of Miniature Air Launched Decoy-Jammer, satisfying all requirements to attain Initial Operational Capability.
April 10, 2015
06:22 EDTRTNDoD enacts stricter rules on research spending by contractors, WSJ says
The Department of Defense is enacting stricter rules on how defense companies can spent $4B of the department's research budget, following a report that explained that much of the budget was used to increase contractors' bids or to develop their own proprietary technology, reports the Wall Street Journal. Publicly traded companies in the space include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC), Raytheon (RTN) and United Technologies (UTX).
April 9, 2015
10:03 EDTRTNRaytheon, Kongsberg team on Naval Strike Missile
Raytheon Company and Kongsberg have formed a teaming agreement for the Naval Strike Missile. The pact represents a second step in the companies' efforts to offer world-class Offensive Anti-Surface Warfare solutions to the many governments interested in this warfare mission. Raytheon and Kongsberg formed a similar agreement last year to develop the Joint Strike Missile, the air-launched version of the NSM.
08:04 EDTRTNRaytheon completes validation milestones in two U.S. Air Force programs
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