Solazyme (NASDAQ:SZYM), Fusion-io (NYSE:FIO), Kimberly-Clark (NYSE:KMB), Lockheed Martin (NYSE:LMT), Publicis Groupe (OTC:PUBGY) and Hasbro (NASDAQ:HAS) had ratings and price targets on them adjusted by analysts.
Canaccord Genuity initiated coverage on Solazyme (SZYM). They placed a "Buy" rating on the company.
Fusion-io (FIO) was upgraded by The Benchmark Company from a "Hold" rating to a "Buy" rating. They placed a price target of $30.00 on the company.
Kimberly-Clark (KMB) was downgraded by Janney Montgomery Scott from a "Buy" rating to a "Neutral" rating.
Lockheed Martin (LMT) was downgraded by Bernstein from an "Outperform" rating to a "Market Perform" rating.
Publicis Groupe (PUBGY) was downgraded by HSBC Securities from an "Overweight" rating to a "Neutral" rating.
Hasbro (HAS) was downgraded by Sterne Agee from a "Buy" rating to a "Neutral" rating.
Showing posts with label Lockheed Martin. Show all posts
Showing posts with label Lockheed Martin. Show all posts
Wednesday, February 15, 2012
Monday, January 9, 2012
Lockheed (LMT) (MFRM) (MRCY) (COLM) (CROX) (DEPO) Get New Coverage
Lockheed Martin Co. (NYSE: LMT), Mattress Firm Holding Corp. (NASDAQ: MFRM), Mercury Computer Systems Inc. (NASDAQ: MRCY), Columbia Sportswear (NASDAQ: COLM), Crocs (NASDAQ: CROX) and Depomed Inc. (NASDAQ: DEPO) getting new coverage from analysts.
Lockheed Martin Co. (LMT) is now covered by Sterne Agee. They placed a “Neutral” rating on the company.
Mattress Firm Holding Corp. (NASDAQ: MFRM) is now covered by SunTrust (NYSE:STI). They placed a “Buy” rating on the company.
Mercury Computer Systems Inc. (MRCY) is now covered by Sterne Agee. They placed a “Buy” rating on the company.
Columbia Sportswear (COLM) is now covered by DA Davidson. They placed a “Neutral” rating and a price target of $48.00 on the company.
Crocs (CROX) is now covered by BB&T (NYSE:BBT). They placed a “Hold” rating on the company.
Depomed Inc. (DEPO) is now covered by ThinkEquity. They placed a “Buy” rating on the company.
Lockheed Martin Co. (LMT) is now covered by Sterne Agee. They placed a “Neutral” rating on the company.
Mattress Firm Holding Corp. (NASDAQ: MFRM) is now covered by SunTrust (NYSE:STI). They placed a “Buy” rating on the company.
Mercury Computer Systems Inc. (MRCY) is now covered by Sterne Agee. They placed a “Buy” rating on the company.
Columbia Sportswear (COLM) is now covered by DA Davidson. They placed a “Neutral” rating and a price target of $48.00 on the company.
Crocs (CROX) is now covered by BB&T (NYSE:BBT). They placed a “Hold” rating on the company.
Depomed Inc. (DEPO) is now covered by ThinkEquity. They placed a “Buy” rating on the company.
Friday, January 6, 2012
AT&T (T) (LMT) (JCI) (RMBS) (AYI) (CHKP) Ratings, Price Targets
AT&T Inc. (NYSE: T), Lockheed Martin Co. (NYSE: LMT), Johnson Controls, Inc. (NYSE: JCI), Rambus Inc. (NASDAQ: RMBS), Acuity Brands Inc. (NYSE: AYI) and Check Point Software (NASDAQ: CHKP) ratings and price targets.
AT&T Inc. (T) was downgraded by Pacific Crest from an “Outperform” rating to a “Sector Perform” rating.
Lockheed Martin Co. (LMT) was downgraded by RBC Capital from a “Sector Perform” rating to an “Underperform” rating.
Johnson Controls, Inc. (JCI) is now covered by Guggenheim. They placed a “Buy” rating on the company.
Rambus Inc. (RMBS) had its “Neutral” rating reiterated by JPMorgan Chase & Co. (NYSE:JPM). They have a price target of $11.50 on the company.
Acuity Brands Inc. (AYI) had its “Hold” rating reiterated by Jefferies Group (NYSE:JEF).
Check Point Software (CHKP) is now covered by Bank of America (NYSE:BAC). They placed a “Neutral” rating on the company.
AT&T Inc. (T) was downgraded by Pacific Crest from an “Outperform” rating to a “Sector Perform” rating.
Lockheed Martin Co. (LMT) was downgraded by RBC Capital from a “Sector Perform” rating to an “Underperform” rating.
Johnson Controls, Inc. (JCI) is now covered by Guggenheim. They placed a “Buy” rating on the company.
Rambus Inc. (RMBS) had its “Neutral” rating reiterated by JPMorgan Chase & Co. (NYSE:JPM). They have a price target of $11.50 on the company.
Acuity Brands Inc. (AYI) had its “Hold” rating reiterated by Jefferies Group (NYSE:JEF).
Check Point Software (CHKP) is now covered by Bank of America (NYSE:BAC). They placed a “Neutral” rating on the company.
Tuesday, January 3, 2012
Boeing (BA) (NOC) Lands $3.5 Billion Contract
Shares of Boeing Co. (NYSE:BA) and Northrop Grumman Corp. (NYSE:NOC) could be poised to jump today after news on Friday the two were awarded a contract worth $3.5 billion from the Defense Department of the United States. The contract extends over a period of seven years.
Losing out in the deal are Lockheed Martin Corp. (NYSE:LMT) and Raytheon Co. (NYSE:RTN), which were battling Boeing and Northrup to land the deal.
The contract is for the purpose of developing, testing, engineering and manufacturing antimissile systems.
Northrop Grumman closed Friday at $58.48, dropping $0.41, or 0.70 percent. Boeing closed at $73.35, falling $0.76, or 1.03 percent.
Losing out in the deal are Lockheed Martin Corp. (NYSE:LMT) and Raytheon Co. (NYSE:RTN), which were battling Boeing and Northrup to land the deal.
The contract is for the purpose of developing, testing, engineering and manufacturing antimissile systems.
Northrop Grumman closed Friday at $58.48, dropping $0.41, or 0.70 percent. Boeing closed at $73.35, falling $0.76, or 1.03 percent.
Wednesday, December 28, 2011
Lockheed (LMT) (GCA) (HAFCD) (HRB) (LNET) (NPTN) (INVN) Downgraded
Lockheed Martin Co. (NYSE: LMT), Global Cash Access Holdings, Inc. (NYSE: GCA), Hanmi Financial Corp. (NASDAQ: HAFCD), H&R Block, Inc. (NYSE: HRB), LodgeNet Interactive Corp. (NASDAQ: LNET), Neophotonics Corp. (NASDAQ: NPTN) and Invensense Inc. (NASDAQ: INVN) were downgraded by analysts.
Global Cash Access Holdings, Inc. (GCA) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Hanmi Financial Corp. (HAFCD) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
H&R Block, Inc. (HRB) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.
Lockheed Martin Co. (LMT) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.
LodgeNet Interactive Corp. (LNET) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Neophotonics Corp. (NPTN) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating.
Robert W. Baird initiated coverage on Invensense Inc. (INVN). They placed an “Outperform” rating and a price target of $13.00 on the company.
Global Cash Access Holdings, Inc. (GCA) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Hanmi Financial Corp. (HAFCD) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
H&R Block, Inc. (HRB) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.
Lockheed Martin Co. (LMT) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.
LodgeNet Interactive Corp. (LNET) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Neophotonics Corp. (NPTN) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating.
Robert W. Baird initiated coverage on Invensense Inc. (INVN). They placed an “Outperform” rating and a price target of $13.00 on the company.
Friday, October 28, 2011
HealthSpring (HS) (LMT) (HCC) (LHCG) (HOLX) (JNY) Downgraded
HealthSpring, Inc (NYSE: HS), Lockheed Martin Co. (NYSE: LMT), HCC Insurance Holdings, Inc. (NYSE: HCC), LHC Group, Inc. (NASDAQ: LHCG), Hologic, Inc. (NASDAQ: HOLX) and Jones Apparel Group, Inc. (NYSE: JNY) were downgraded by analysts.
HealthSpring, Inc. (HS) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $55.00 on the company.
Lockheed Martin Co. (LMT) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
HCC Insurance Holdings, Inc. (HCC) was downgraded by Keefe, Bruyette & Woods, Inc from an “Outperform” rating to a “Market Perform” rating.
LHC Group, Inc. (LHCG) was downgraded by SunTrust from a “Buy” rating to a “Neutral” rating.
Hologic, Inc. (HOLX) was downgraded by Ticonderoga from a “Buy” rating to a “Neutral” rating.
Jones Apparel Group, Inc. (JNY) was downgraded by SunTrust from a “Buy” rating to a “Neutral” rating.
HealthSpring, Inc. (HS) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $55.00 on the company.
Lockheed Martin Co. (LMT) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
HCC Insurance Holdings, Inc. (HCC) was downgraded by Keefe, Bruyette & Woods, Inc from an “Outperform” rating to a “Market Perform” rating.
LHC Group, Inc. (LHCG) was downgraded by SunTrust from a “Buy” rating to a “Neutral” rating.
Hologic, Inc. (HOLX) was downgraded by Ticonderoga from a “Buy” rating to a “Neutral” rating.
Jones Apparel Group, Inc. (JNY) was downgraded by SunTrust from a “Buy” rating to a “Neutral” rating.
Monday, May 2, 2011
Dividend Yields for (ZION) (FHN) (STI) (LMT) (RTN)
Indicated dividend yields for Standard & Poor's 500 Index companies Zions Bancorporation (ZION), First Horizon National Corp (FHN), SunTrust Banks Inc (STI), Lockheed Martin Corp (LMT) and Raytheon Co (RTN).
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
First Horizon National Inc (FHN) has a dividend yield of 0.37 percent on a declared dividend of $0.01. The payout ratio is na.
Zions Bancorporation (FHN) has a dividend yield of 0.16 percent on a declared dividend of $0.01. The payout ratio is 12.3 percent.
SunTrust Banks Inc (STI) has a dividend yield of 0.14 percent on a declared dividend of $0.01. The payout ratio is 4.5 percent.
Lockheed Martin Corp (LMT) has a dividend yield of 3.79 percent on a declared dividend of $0.75. The payout ratio is 48.5 percent.
Raytheon Co (RTN) has a dividend yield of 3.54 percent on a declared dividend of $0.43. The payout ratio is 35.2 percent.
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
First Horizon National Inc (FHN) has a dividend yield of 0.37 percent on a declared dividend of $0.01. The payout ratio is na.
Zions Bancorporation (FHN) has a dividend yield of 0.16 percent on a declared dividend of $0.01. The payout ratio is 12.3 percent.
SunTrust Banks Inc (STI) has a dividend yield of 0.14 percent on a declared dividend of $0.01. The payout ratio is 4.5 percent.
Lockheed Martin Corp (LMT) has a dividend yield of 3.79 percent on a declared dividend of $0.75. The payout ratio is 48.5 percent.
Raytheon Co (RTN) has a dividend yield of 3.54 percent on a declared dividend of $0.43. The payout ratio is 35.2 percent.
Thursday, April 28, 2011
RF Micro (RFMD) (LMT) (MRCY) (WRB) (TSS) Ratings Reiterated by Analysts
RF Micro Device (NASDAQ: RFMD), Lockheed Martin Co. (NYSE: LMT), Mercury Computer Systems Inc (NASDAQ: MRCY), W.R. Berkley Co. (NYSE: WRB) and Total System Services, Inc. (NYSE: TSS) get ratings reiterated by analysts.
Oppenheimer maintained a “Market Perform” rating on Lockheed Martin Co. (LMT).
Jefferies (NYSE:JEF) reiterated a “Buy” rating on Mercury Computer Systems Inc (MRCY). They have a price target of $23 on the company.
Morgan Stanley (NYSE:MS) reiterated an “Equal Weight” rating on Total System Services, Inc. (TSS).
BGB Securities reiterated a “Buy” rating on W.R. Berkley Co. (WRB).
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “Underweight” rating on RF Micro Device (RFMD).
Oppenheimer maintained a “Market Perform” rating on Lockheed Martin Co. (LMT).
Jefferies (NYSE:JEF) reiterated a “Buy” rating on Mercury Computer Systems Inc (MRCY). They have a price target of $23 on the company.
Morgan Stanley (NYSE:MS) reiterated an “Equal Weight” rating on Total System Services, Inc. (TSS).
BGB Securities reiterated a “Buy” rating on W.R. Berkley Co. (WRB).
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “Underweight” rating on RF Micro Device (RFMD).
Wednesday, April 13, 2011
Arrogant GE (GE) Refuses to Halt 2nd F-35 Jet Engine
GE spokesman Rick Kennedy said in a statement, "We will work closely with our congressional supporters to bring competing JSF engines to the fiscal 2012 budget process."
"With the development program nearly complete, we have no intention of abandoning this engine."
In an unproven and dubious statement, Kennedy added that House and Senate leaders were encouraging the company to continue the battle, saying lawmakers would look at the issue again in the fiscal 2012 budget.
As the Pentagon said, this is "a waste of taxpayer money that can be used to fund higher departmental priorities."
United Technologies Corp (NYSE:UTX) unit Pratt & Whitney responded to General Electric allegations it had cost overruns of $3.4 billion, saying $2.7 billion of that was from changes in requirements by the Pentagon; an assertion the Pentagon doesn't deny.
General Electric is also attempting to make it look like they are victims of the government in that the initiative was encouraged by lawmakers for General Electric to start work on the second engine. The problem is, of course, is the Pentagon has said for five years they don't want it. What part of no and taxpayer was doesn't no-tax-paying General Electric get?
General Electric has gone to way of government projects which offer tax breaks as their major focus, probably the reason they've performed for miserably under CEO Jeffrey Immelt.
Maybe General Electric needs to get some swagger back again by competing in markets not guaranteed by taxpayer dollars and subsidies, as it may find they have to actually work at generating revenue and earnings, not have it handed to them on a silver platter by its lawmaking buddies.
General Electric closed Tuesday at $20.01, falling $0.17, or 0.84 percent.
Monday, February 7, 2011
Citigroup (NYSE:C) Likes Lockheed (LMT), General Dynamics (GD), Northrop Grumman (NOC), Raytheon (RTN), Boeing (BA), Goodrich (GR), Precision Castpar
Being more positive on aerospace and defense than its colleagues, Citigroup (NYSE:C) said they see Lockheed (NYSE:LMT), General Dynamics (NYSE:GD), Northrop Grumman (NYSE:NOC), Raytheon (NYSE:RTN), Boeing (NYSE:BA), Goodrich (NYSE:GR), Precision Castparts (NYSE:PCP) benefiting from the current spending environment in the sectors.
Citi said, “We think investors are pricing zero to negative growth into defense stocks indefinitely. In a nutshell: The DoD has to spend money to refresh and update equipment.”
The giant bank sees defense moving away from R&D spending and moving spending to the procurement of existing weapon systems. That could boost margins for companies serving the sector, said Citigroup analysts Jason Gursky and Jonathan Raviv.
They also noted that companies could also focus more on selling to foreign and adjacent markets, boosting earnings there as well.
The analysts say stocks in the two sectors are trading at historically low valuations. Measured by earnings over the next 12 months, the companies are trading at 0nly 9 times expectations, below the 10 to 15 times in the past. The 9 times earnings is 35 percent below the broader market.
Citi said, “We think investors are pricing zero to negative growth into defense stocks indefinitely. In a nutshell: The DoD has to spend money to refresh and update equipment.”
The giant bank sees defense moving away from R&D spending and moving spending to the procurement of existing weapon systems. That could boost margins for companies serving the sector, said Citigroup analysts Jason Gursky and Jonathan Raviv.
They also noted that companies could also focus more on selling to foreign and adjacent markets, boosting earnings there as well.
The analysts say stocks in the two sectors are trading at historically low valuations. Measured by earnings over the next 12 months, the companies are trading at 0nly 9 times expectations, below the 10 to 15 times in the past. The 9 times earnings is 35 percent below the broader market.
Friday, January 7, 2011
Gleacher on General Dynamics (NYSE:GD), Raytheon (NYSE:RTN), Lockheed Martin (NYSE:LMT)
After the briefing by Secretary of Defense Gates gave a road-map to the strategy of Pentagon spending over the next five years, Gleacher says they see large caps like General Dynamics (NYSE:GD), Raytheon (NYSE:RTN) and Lockheed Martin (NYSE:LMT) on solid footing.
Gleacher said, "Yesterday, Secretary of Defense Gates outlined how the Pentagon will reprioritize $100 billion in savings towards modernization, as well as an additional $78 billion in defense cuts over the next five years. The fiscal realignment recognizes the fact that defense budgets are not immune to the broader budget realities facing the nation. However, in prioritizing funding in favor of turnkey programs, the Gates program ensures that the past is not repeated where military capabilities are gutted. Rather, by proactively addressing the pending budgetary issues Gates has preempted Congress from making any irrational cuts to key programs due to mounting deficit pressures. Further, as we had anticipated, the briefing came with very few surprises, and in fact, the strong support toward modernization was actually better than expected.
"Given the slight growth provided by the Gates roadmap, solid balance sheets, strong cash flows and a potential for buy-backs, the large-cap defense group appears to have regained solid footing. Therefore, it is reasonable to assume that valuations of the group could lift from current levels at less than 10x P/E back to spring 2010 levels closer to 12x P/E. We reiterate our Buy ratings on General Dynamics (NYSE: GD) and Raytheon (NYSE: RTN), and while Lockheed Martin (NYSE: LMT) is Neutral rated, we expect the entire group to participate in this relief rally."
General Dynamics was trading at $72.16, up $0.77, or 1.08 percent, as of 1:21 PM EST. Raytheon was trading at $50.24, up $1.52, or 3.12 percent. Lockheed was trading at $73.81, gaining $0.63, or 0.86 percent.
Gleacher said, "Yesterday, Secretary of Defense Gates outlined how the Pentagon will reprioritize $100 billion in savings towards modernization, as well as an additional $78 billion in defense cuts over the next five years. The fiscal realignment recognizes the fact that defense budgets are not immune to the broader budget realities facing the nation. However, in prioritizing funding in favor of turnkey programs, the Gates program ensures that the past is not repeated where military capabilities are gutted. Rather, by proactively addressing the pending budgetary issues Gates has preempted Congress from making any irrational cuts to key programs due to mounting deficit pressures. Further, as we had anticipated, the briefing came with very few surprises, and in fact, the strong support toward modernization was actually better than expected.
"Given the slight growth provided by the Gates roadmap, solid balance sheets, strong cash flows and a potential for buy-backs, the large-cap defense group appears to have regained solid footing. Therefore, it is reasonable to assume that valuations of the group could lift from current levels at less than 10x P/E back to spring 2010 levels closer to 12x P/E. We reiterate our Buy ratings on General Dynamics (NYSE: GD) and Raytheon (NYSE: RTN), and while Lockheed Martin (NYSE: LMT) is Neutral rated, we expect the entire group to participate in this relief rally."
General Dynamics was trading at $72.16, up $0.77, or 1.08 percent, as of 1:21 PM EST. Raytheon was trading at $50.24, up $1.52, or 3.12 percent. Lockheed was trading at $73.81, gaining $0.63, or 0.86 percent.
Northrop Grumman (NYSE:NOC), Boeing (NYSE:BA), General Dynamics (NYSE:GD), Lockheed Martin (NYSE:LMT) and Defense Budget
Secretary of Defense Gates gave his input on the programs which will effect defense contractors like Northrop Grumman (NYSE:NOC), Boeing (NYSE:BA), General Dynamics (NYSE:GD) and Lockheed Martin (NYSE:LMT).
FBR gave their take on the companies and how they'll be effected by the comments Gates made.
FBR said, "Secretary of Defense Gates just held a briefing outlining changes to programs related to the budget environment, which we talked about when we downgraded the group in December. Our initial take is that Northrop Grumman, Boeing and General Dynamics come out of this in the best shape. Everyone is going to have an opinion but here is how we established ours.
Northrop Grumman: Gates talked about funding a long range strike bomber and NOC has been doing work in this area / for this platform for a long time and they are likely best positioned to win it. Also they will be well positioned for a new Army vertical take off UAV since, we believe, Honeywell’s (NYSE:HON) vertical take-off UAV has been defunded. Finally, it looks like the Navy will develop and new electronic warfare jammer which NOC will likely compete for."
Boeing: It looks like DOD will fund additional evolved expendable launch vehicles (EELV) which Boeing builds. Additionally, as a hedge against F-35 delays, DOD will buy more F/A-18s’.
General Dynamics: DOD is killing the Expeditionary Fighting Vehicle, which is bad but known. However they have identified funding to extend the life of the Abrams Main Battle Tank and Bradley Fighting Vehicle, which is positive. Additionally the Army putting more money towards "tactical networks" which is GD’s part of JTRS. Plus they have WIN-T.
Lockheed Martin: Cutting 122 aircraft from JSF to fund more R&D. We thought the number would have been closer to 200 but we have heard some estimates for a cut that was much great then that. All in positive relative to expectations.
FBR gave their take on the companies and how they'll be effected by the comments Gates made.
FBR said, "Secretary of Defense Gates just held a briefing outlining changes to programs related to the budget environment, which we talked about when we downgraded the group in December. Our initial take is that Northrop Grumman, Boeing and General Dynamics come out of this in the best shape. Everyone is going to have an opinion but here is how we established ours.
Northrop Grumman: Gates talked about funding a long range strike bomber and NOC has been doing work in this area / for this platform for a long time and they are likely best positioned to win it. Also they will be well positioned for a new Army vertical take off UAV since, we believe, Honeywell’s (NYSE:HON) vertical take-off UAV has been defunded. Finally, it looks like the Navy will develop and new electronic warfare jammer which NOC will likely compete for."
Boeing: It looks like DOD will fund additional evolved expendable launch vehicles (EELV) which Boeing builds. Additionally, as a hedge against F-35 delays, DOD will buy more F/A-18s’.
General Dynamics: DOD is killing the Expeditionary Fighting Vehicle, which is bad but known. However they have identified funding to extend the life of the Abrams Main Battle Tank and Bradley Fighting Vehicle, which is positive. Additionally the Army putting more money towards "tactical networks" which is GD’s part of JTRS. Plus they have WIN-T.
Lockheed Martin: Cutting 122 aircraft from JSF to fund more R&D. We thought the number would have been closer to 200 but we have heard some estimates for a cut that was much great then that. All in positive relative to expectations.
Boeing (NYSE:BA) Gets 41-Plane Order from Pentagon
Lockheed Martin Corp (NYSE:LMT) is out of luck for now, as the Pentagon has chosen to acquire 41 fighter planes from Boeing (NYSE:BA) as it continues to restructure the F-35 fighter program.
The 41-plane order is for over a three-year period. That is in response to slower production of the F-35 from Lockheed.
Continual test problems for the Marine version of the plane could result in it being canceled, said the Defense Secretary, if they aren't fixed.
Gates said, "If we cannot fix this variant during this time frame and get it back on track in terms of performance, cost and schedule, then I believe it should be canceled."
Boeing has the benefit from all this by selling the Pentagon 41 additional F/A-18 fighters over the next three years.
Lockheed Martin closed at $73.18, up $1.26, or 1.75 percent. Boeing closed at $68.80, up $1.32, or 1.96 percent.
The 41-plane order is for over a three-year period. That is in response to slower production of the F-35 from Lockheed.
Continual test problems for the Marine version of the plane could result in it being canceled, said the Defense Secretary, if they aren't fixed.
Gates said, "If we cannot fix this variant during this time frame and get it back on track in terms of performance, cost and schedule, then I believe it should be canceled."
Boeing has the benefit from all this by selling the Pentagon 41 additional F/A-18 fighters over the next three years.
Lockheed Martin closed at $73.18, up $1.26, or 1.75 percent. Boeing closed at $68.80, up $1.32, or 1.96 percent.
Monday, January 3, 2011
Boeing (BA) (NOC) Awarded $3.5 Billion Contract
Shares of Boeing Co. (NYSE:BA) and Northrop Grumman Corp. (NYSE:NOC) could be poised to jump today after news on Friday the two were awarded a contract worth $3.5 billion from the Defense Department of the United States. The contract extends over a period of seven years.
Losing out in the deal are Lockheed Martin Corp. (NYSE:LMT) and Raytheon Co. (NYSE:RTN), which were battling Boeing and Northrup to land the deal.
The contract is for the purpose of developing, testing, engineering and manufacturing antimissile systems.
Northrop Grumman closed Friday at $58.48, dropping $0.41, or 0.70 percent. Boeing closed at $73.35, falling $0.76, or 1.03 percent.
Losing out in the deal are Lockheed Martin Corp. (NYSE:LMT) and Raytheon Co. (NYSE:RTN), which were battling Boeing and Northrup to land the deal.
The contract is for the purpose of developing, testing, engineering and manufacturing antimissile systems.
Northrop Grumman closed Friday at $58.48, dropping $0.41, or 0.70 percent. Boeing closed at $73.35, falling $0.76, or 1.03 percent.
Subscribe to:
Posts (Atom)