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News Breaks
May 22, 2014
10:31 EDTXLS, GDExelis awarded two contracts by General Dynamics UK for $617M
Exelis (XLS) was awarded two contracts by General Dynamics (GD) UK to support U.K. Ministry of Defence tactical communications modernization and logistics, supply and support for existing tactical radios. The Exelis work will support General Dynamics’ recently announced contract award from the MoD valued at $617M. The first award is a five-year contract to provide post-engineering design services for VHF and UHF radios manufactured by Exelis for the U.K. Bowman team. Exelis was the manufacturer of those radios as part of the General Dynamics U.K.-led Bowman program. The second contract is a five-year contract for logistics, supply and support of current tactical radios fielded as part of the Bowman program. This support will include replacements and repairs of existing radios currently being used by the MoD.
News For XLS;GD From The Last 14 Days
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July 24, 2014
14:01 EDTGDGeneral Dynamics unit awarded $67M contract for Light Armoured Vehicles
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08:19 EDTGDGeneral Dynamics price target raised to $137 from $119 at Oppenheimer
Oppenheimer increased its price target on General Dynamics after the company reported Q2 results that the firm views as strong and significantly raised its EPS guidance. The firm thinks the outlook for the company's Gulfstream and Combat Systems units appear positive. It keeps an Outperform rating on the shares.
08:01 EDTGDGeneral Dynamics price target raised to $133-$137 from $120-$125 at Wells Fargo
Wells Fargo increased its price target on General Dynamics as the firm thinks the company reported impressive Q2 results. The firm expects the turnarounds in the company's Jet Aviation and European Land Systems units to be sustained. It keeps an Outperform rating on the shares. .
July 23, 2014
09:14 EDTGDGeneral Dynamics: Q3 results to be similar to Q2, but expects a strong Q4
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09:14 EDTGDGeneral Dynamics raises FY14 EPS cont ops to $7.40-$7.45 from $6.80-$6.85
FY14 EPS consensus of $7.33; Sees FY14 revenue $30.2B, consensus $30.39B. Expects FY14 operating margin of 12.5%. Sees FY14 effective tax rate in low end of guidance of 30.5%-31%. Comments taken from Q2 earnings conference call.
07:06 EDTGDGeneral Dynamics repurchased 10.7M outstanding shares in Q2
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07:04 EDTGDGeneral Dynamics reports Q2-end backlog $71.1B
Total backlog at the end of Q2 was $71.1B, 27% over Q1. Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity contracts and unexercised options, was $28.4B. At the end of the quarter, total potential contract value, the sum of all backlog components, was $99.5B. Orders in the Aerospace group were strong in the quarter, including healthy activity across the group's portfolio. The company said, "General Dynamics' strong second quarter performance reflects our continued focus on program execution and operational improvements. We have a solid building block for the future with an increased defense backlog and robust order activity across the portfolio of Gulfstream business jets."
07:02 EDTGDGeneral Dynamics reports Q2 cont. ops. EPS $1.88, consensus $1.77
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July 22, 2014
15:30 EDTGDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP) , consensus $1.23; Boeing (BA), consensus $2.01; Dow Chemical (DOW), consensus 72c; EMC (EMC), consensus 43c; Simon Property Group (SPG), consensus $2.13; Thermo Fisher (TMO), consensus $1.62; General Dynamics (GD), consensus $1.77; Freeport-McMoRan (FCX), consensus 49c; Delta Air Lines (DAL), consensus $1.04; Northrop Grumman (NOC), consensus $2.22; Whirlpool (WHR), consensus $2.91; B/E Aerospace (BEAV), consensus $1.07; Ryder (R), consensus $1.40; Owens Corning (OC), consensus 46c.
July 21, 2014
09:03 EDTXLSExelis receives $9M contract
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July 14, 2014
13:35 EDTXLSExelis awarded $32M U.S. Air Force contract
Exelis has been awarded a $32M contract by the U.S. Air Forces in Europe for maintenance services at the government family housing facilities within the Kaiserslautern Military Community in Germany. The 700th Contracting Squadron from Kapaun Air Station in Kaiserslautern is the contracting agency. This is a combination contract with firm-fixed price and cost-reimbursable elements. It includes the base year plus four option years that run through September 2019. Exelis will provide all necessary support to maintain more than 1,900 family housing units at Landstuhl, Ramstein Air Base and Vogelweh Military Housing Complex, also known as Kaiserslautern Military Community Housing.
July 11, 2014
10:02 EDTGDGeneral Dynamics to continue ACV testing for Marines
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