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News Breaks
July 24, 2014
09:05 EDTBA, UTXUnited Technologies awarded U.S. Air Force landing gear contract
United Technologies (UTX) unit UTC Aerospace Systems has been selected by Boeing (BA) to continue to provide landing gear system maintenance services in support of the U.S. Air Force fleet of the Boeing C-17 Globemaster III aircraft.
News For UTX;BA From The Last 14 Days
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July 20, 2015
07:43 EDTUTXLockheed Martin to acquire Sikorsky Aircraft business for $9B
United Technologies (UTX) announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin (LMT) for $9B in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the Q1 of FY16. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale. The company will discuss this transaction at its previously scheduled conference call with investors. In addition, UTC's Board of Directors has authorized a share repurchase program for up to 75M shares of the company's common stock, which would be worth approximately $8.3B based on the NYSE closing price of UTC shares on July 17. The new authorization replaces a previous program, approved in February 2013, which was nearing completion. The precise timing and amount of repurchases will be determined based on the company's evaluation of market conditions and other factors, and the program may be suspended or discontinued at any time.
July 19, 2015
20:33 EDTUTX, BAMedia reports say Lockheed to buy UTX's Sikorsky
According to media reports, Lockheed Martin (LMT) has agreed to purchase United Technologies' (UTX) Sikorsky unit. The news comes after several months of speculation surrounding Sikorsky, and an announcement could be made just a day prior to second quarter earnings for both United and Lockheed. WHAT'S NEW: Reuters reported on Sunday that Lockheed Martin has agreed to buy Sikorsky Aircraft from United Technologies for over $8B, according to two sources, adding that the deal is set to be formally announced on Monday. The news was later echoed by Bloomberg, citing a person familiar with the talks. WHAT'S NOTABLE: United Technologies first reported that it was exploring strategic options for its Sikorsky unit on March 11. At the time, the company noted that options included a spinoff or a stand-alone public company, saying that the split could allow United "to better focus on providing high-technology systems and services to the aerospace and building industries." Following the announcement, UBS remarked that it was "not surprised" and reiterated a $136 price target on United shares. On May 20, the Wall Street Journal quoted sources as saying Boeing (BA), Airbus (EADSY) and Lockheed submitted bids for the helicopter maker, with a speculated deal thought to reach the $10B area. A June 9 report from Reuters added Textron (TXT) to the list of bidders. Today's news -- though unconfirmed by either United or Lockheed -- comes ahead of second quarter earnings reports for both companies scheduled for Tuesday, July 21. PRICE ACTION: Shares of Lockheed Martin declined 0.22% to $201.18 at the close of trading on July 17, while those of United Technologies fell 0.45% to $110.76.
19:32 EDTBABoeing India eyeing investments in local aerospace companies, PTI says
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15:31 EDTUTXLockheed Martin to buy Sikorsky for over $8B, Reuters says
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July 17, 2015
17:26 EDTBABAE Systems, others awarded $6B government contract
American Systems, Chantilly, Virginia; BAE Systems (BAESY), McLean, Virginia; Blue Canopy, Reston, Virginia; The Boeing Co. (BA), Annapolis Junction, Maryland; Booz Allen Hamilton, McLean, Virginia; CACI (CACI), Chantilly, Virginia; CGI Federal, Fairfax, Virginia; Computer Sciences Corp. (CSC), Falls Church, Virginia; D&S Consultants Inc., Eatontown, New Jersey; EIS, Vienna, Virginia; General Dynamics Information Technology (GD), Herndon, Virginia; HP Enterprise Services, Herndon, Virginia; IBM (IBM), Reston, Virginia; Intelligent Decisions, Ashburn, Virginia; K Force Government Solutions, Fairfax, Virginia; L3 National Security Solutions, Reston, Virginia; Leidos (LDOS), Reston, Virginia; Lockheed Martin Corp. (LMT) Gaithersburg, Maryland; ManTech/WINS, Fairfax, Virginia; Northrop Grumman (NOC), Chantilly, Virginia; Pragmatics, Reston, Virginia; Raytheon IIS Group (RTN), Dulles, Virginia; Scientific Research Corp., Atlanta, Georgia; Sotera, Herndon, Virginia; SRA International, Fairfax, Virginia; 22nd Century Technologies, McLean, Virginia; AEEC LLC, Reston, Virginia; American Technology Solutions International, Fredericksburg, Virginia; Berico Technologies, Reston, Virginia; The Buffalo Group, Reston, Virginia; Convergent Solutions Inc., Alexandria, Virginia; Criterion Systems Inc., Vienna, Virginia; Cyberspace Solutions, Reston, Virginia; DAn Solutions Inc., McLean, Virginia; DKW Communications, Washington, District of Columbia; E-Volve Technology Systems, National Harbor, Maryland; Federated IT, Washington, District of Columbia; Intrepid Solutions & Services Inc., Reston, Virginia; The Kenjya Group, Columbia, Maryland; New River Systems, Sterling, Virginia; OCCAM Solutions, McLean, Virginia; QVine Corp., Reston, Virginia; Red Arch Solutions, Columbia, Maryland; Riite, Chantilly, Virginia; Soft Tech Consulting, Chantilly, Virginia; Trusted Mission Solutions, McLean, Virginia; Varen Technologies, Columbia, Maryland; Vykin Corp., Tampa, Florida; Xcelerate Solutions, McLean, Virginia; and Zolon Tech Inc., Herndon, Virginia, were awarded an indefinite-delivery/indefinite-quantity, multiple-award contract with a combined ceiling value of $6B. The Enhanced Solutions for the Information Technology Enterprise contract supports information technology requirements across the Defense intelligence enterprise and the greater intelligence community. Work will be performed worldwide with an estimated completion date of July 16, 2020. The E-SITE contract vehicle was solicited on the basis of full and open competition, and 77 proposals were received. After conducting a thorough evaluation based on the request for proposal criteria, contracts are being awarded to 25 large businesses and 25 small businesses. Each company will be awarded a $500 minimum guarantee and additional funding will be obligated on individual task orders with the initial follow-on task order competitions scheduled this summer. The Virginia Contracting Activity, Washington, District of Columbia, is the contracting activity.
16:24 EDTBAOn The Fly: Top stock stories for Friday
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09:45 EDTBABoeing cash generation should be viewed positively, says Wells Fargo
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08:48 EDTBABoeing expects to adjust 2015 EPS guidance due to Q2 charge
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08:34 EDTBABoeing to recognize Q2 charge of 77c per share for KC-46 tanker program
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July 16, 2015
12:29 EDTBAEarnings Watch: Bernstein positive on GE ahead of Q2 report
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11:03 EDTBABoeing reports 50 new orders since last update
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July 15, 2015
16:44 EDTBAOrbital ATK supports succesful launch of U.S. Air Force GPS satelliate
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13:57 EDTBAFAA says some Boeing 747 planes at risk of 'divergent flutter'
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08:03 EDTUTXUnited Technologies' HD imaging systems selected for CIrrus Perception platform
United Technologies unit UTC Aerospace Systems is providing Cloud Cap Technology TASE500 and TASE400 imaging system options for the new Cirrus Aircraft Perception Special Mission Aircraft.
July 14, 2015
17:16 EDTBABell Boeing awarded contract by U.S. Navy for five V-22 Osprey
Bell Boeing, a strategic alliance between Bell Helicopter, a Textron (TXT) company, and Boeing (BA), was awarded a U.S. Navy contract for five Bell Boeing V-22 Osprey tiltrotor aircraft to be delivered to Japan, marking the first sale of the aircraft through the U.S. governmentís foreign military sales program. The contract for the Block C aircraft includes support, training, and equipment. The versatile V-22 tiltrotor will allow Japanís Ground Self-Defense Force greatly enhanced capabilities, while providing an ideal platform for relief efforts in response to natural disasters.
10:01 EDTBAOn The Fly: Analyst Initiation Summary
8point3 Energy (CAFD) initiated with a Buy at Deutsche Bank... Abraxas Petroleum (AXAS) initiated with a Market Perform at Cowen... Amarantus Bioscience (AMBS) initiated with a Buy at WallachBeth... Ashford Hospitality Prime (AHP) initiated with a Hold at Canaccord... Ashford (AINC) initiated with a Hold at Canaccord... BE Aerospace (BEAV) initiated with a Neutral at JPMorgan... Bed Bath & Beyond (BBBY) initiated with a Neutral at Longbow... Benchmark Electronics (BHE) initiated with a Buy at B. Riley... Bill Barrett (BBG) initiated with a Market Perform at Cowen... Boeing (BA) initiated with an Overweight at JPMorgan... Bombardier (BDRBF) initiated with a Neutral at JPMorgan... Cablevision (CVC) initiated with a Hold at Deutsche Bank... Charter (CHTR) initiated with a Buy at Deutsche Bank... Chesapeake (CHK) initiated with an Equal Weight at Stephens... Comcast (CMCSA) initiated with a Hold at Deutsche Bank... DiamondRock (DRH) initiated with a Buy at Canaccord... Diamondback Energy (FANG) initiated with an Outperform at Cowen... EOG Resources (EOG) initiated with an Overweight at Stephens... Fogo De Chao (FOGO) initiated with a Buy at Jefferies... General Dynamics (GD) initiated with an Overweight at JPMorgan... HP (HPQ) initiated with a Hold at Maxim... Hanover Insurance (THG) initiated with an Overweight at Piper Jaffray... Harris (HRS) initiated with a Neutral at JPMorgan... Hospitality Properties (HPT) initiated with a Hold at Canaccord... Host Hotels (HST) initiated with a Hold at Canaccord... Hydrogenics (HYGS) initiated with a Buy at Rodman & Renshaw... King Digital (KING) initiated with an Overweight at Morgan Stanley... L-3 Communications (LLL) initiated with a Neutral at JPMorgan... La-Z-Boy (LZB) initiated with a Neutral at Longbow... LaSalle Hotel (LHO) initiated with a Hold at Canaccord... MINDBODY (MB) initiated with a Buy at UBS... Marriott (MAR) initiated with a Hold at Canaccord... Newfield Exploration (NFX) initiated with a Buy at Global Hunter... Northern Oil and Gas (NOG) initiated with a Market Perform at Cowen... Northrop Grumman (NOC) initiated with an Underweight at JPMorgan... Oasis Petroleum (OAS) initiated with an Outperform at Cowen... PDC Energy (PDCE) initiated with an Outperform at Cowen... Pier 1 Imports (PIR) initiated with a Buy at Longbow... Plexus (PLXS) initiated with a Buy at B. Riley... Raytheon (RTN) initiated with a Neutral at JPMorgan... RetailMeNot (SALE) initiated with an Equal Weight at Morgan Stanley... Rockwell Collins (COL) initiated with a Neutral at JPMorgan... Spirit AeroSystems (SPR) initiated with an Overweight at JPMorgan... Starwood (HOT) initiated with a Buy at Canaccord... Strategic Hotels (BEE) initiated with a Buy at Canaccord... Summit Hotel Properties (INN) initiated with a Buy at Canaccord... Textron (TXT) initiated with a Neutral at JPMorgan... Time Warner Cable (TWC) initiated with a Buy at Deutsche Bank... TransDigm (TDG) initiated with an Overweight at JPMorgan... TrueCar (TRUE) initiated with an Equal Weight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Outperform at Cowen... XL Group (XL) initiated with an Overweight at Piper Jaffray... Zillow Group (Z) initiated with an Overweight at Morgan Stanley... Zynga (ZNGA) initiated with an Equal Weight at Morgan Stanley.
07:02 EDTBADucommun wins contract from Spirit AeroSystems for work on Boeing 737 MAX
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06:24 EDTBAFedEx in talks to buy 'at least' 25 Boeing cargo jets, Bloomberg reports
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06:09 EDTBABoeing initiated with an Overweight at JPMorgan
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05:40 EDTBABoeing announces Oman Air contracted for a suite of services in support of 787
Boeing announced that Oman Air has contracted for a suite of services to support the upcoming entry into service of the airline's 787 Dreamliners and to ensure ongoing efficiency and cost savings for its fleet.
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