Andrea's Feed
Jul 29, 2015

Northrop beats second-quarter profit expectations, lifts target for full year

By Andrea Shalal

(Reuters) – Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), maker of Global Hawk drones, reported higher-than-expected quarterly earnings and raised its guidance for earnings in the full year, despite flat or lower revenues in each of its four business sectors.

Northrop reported net earnings of $531 million, or $2.74 per share in the second quarter, up from $511 million or $2.37 a year earlier. The company said its quarterly results included a net tax benefit of $38 million, or $0.20 per share, for additional research credits.

Jul 29, 2015

Northrop beats Q2 profit expectations, lifts target for full year

July 29 (Reuters) – Northrop Grumman Corp, maker of
Global Hawk drones, reported higher-than-expected quarterly
earnings and raised its guidance for earnings in the full year,
despite flat or lower revenues in each of its four business
sectors.

Northrop reported net earnings of $531 million, or $2.74 per
share in the second quarter, up from $511 million or $2.37 a
year earlier. The company said its quarterly results included a
net tax benefit of $38 million, or $0.20 per share, for
additional research credits.

Jul 28, 2015

U.S. military sees more use of laser, microwave weapons

WASHINGTON, July 28 (Reuters) – Lasers, microwaves and other
directed energy weapons could soon be used more widely by the
U.S. military, top armed forces officials and U.S. lawmakers
told an industry conference on Tuesday.

The officials described weapons that are in various stages
of development and testing by the U.S. Navy, Marine Corps, Air
Force and Army, but said more work was needed to develop tactics
for their use and to ensure sufficient funding.

Jul 27, 2015

U.S. Marines see decision soon on F-35 fighter combat-readiness

WASHINGTON (Reuters) – The top U.S. Marine Corps aviator on Monday said an initial squadron of 10 Lockheed Martin Corp F-35 fighter jets met all the requirements for a declaration of combat-readiness during a recent review, and a decision from Marine Corps Commandant General Joseph Dunford was expected soon.

Deputy Commandant for Aviation Lieutenant General Jon Davis told a telephone news conference that Dunford was reviewing all the paperwork supporting the decision now. “I think it’s soon. … I’m not going to rush General Dunford. He’s a busy guy,” Davis said.

Jul 26, 2015

Ex-Aerojet chief to head Norwegian 3D printer; eyes big US site

WASHINGTON, July 26 (Reuters) – Norway’s Norsk Titanium AS
said on Sunday that it had named Warren Boley, a former
executive with Aerojet Rocketdyne, to head the company
as it moves to establish the world’s first industrial-scale 3D
printing facility in the United States.

Boley, who also worked for United Technologies Corp,
told Reuters the site of the 200,000-square-foot plant would be
announced in coming weeks by an unnamed U.S. state, which is
funding the facility as part of public-private partnership.

Jul 23, 2015

Raytheon beats estimates with higher second-quarter earnings, revenues

WASHINGTON (Reuters) – Raytheon Co (RTN.N: Quote, Profile, Research, Stock Buzz) posted higher-than-expected earnings and revenues for the second quarter, aided by strong international bookings and the favorable impact of a tax settlement, and the U.S. weapons maker lifted its revenue target for the full year.

Raytheon, maker of the Patriot missile system, reported net earnings of $504 million from continuing operations, or $1.65 per share, up from $499 million and $1.59 per share a year earlier. Revenues rose 3 percent to $5.8 billion.

Jul 23, 2015

Raytheon beats estimates with higher Q2 earnings, revenues

WASHINGTON, July 23 (Reuters) – Raytheon Co posted
higher-than-expected earnings and revenues for the second
quarter, aided by strong international bookings and the
favorable impact of a tax settlement, and the U.S. weapons maker
lifted its revenue target for the full year.

Raytheon, maker of the Patriot missile system, reported net
earnings of $504 million from continuing operations, or $1.65
per share, up from $499 million and $1.59 per share a year
earlier. Revenues rose 3 percent to $5.8 billion.

Jul 22, 2015

Lockheed Sikorsky deal marks turning point for more assertive CEO

WASHINGTON (Reuters) – Lockheed Martin Corp’s (LMT.N: Quote, Profile, Research, Stock Buzz) decision to buy helicopter maker Sikorsky Aircraft and sell $6 billion in lower-margin units marks a clear turning point for Lockheed CEO Marillyn Hewson, who is shaking up the world’s largest weapons maker.

Thrust into the CEO job in January 2013 after retiring CEO Robert Stevens’ designated successor was fired for having an affair with a subordinate, Hewson spent her first year largely executing a strategy Stevens had mapped out and repairing tense ties with the Pentagon on the $391 billion F-35 fighter program.

Jul 22, 2015

Spending cuts fuel government contractor M&A

NEW YORK/WASHINGTON (Reuters) – Companies that provide the U.S. government with services ranging from air traffic management and data analytics to janitors and trainers for military dolphins are increasingly trying to find buyers for those businesses as cuts in public spending erode profit margins.

    Showing growing impatience with a declining sector, Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) said earlier this week that it plans to sell or spin off information technology and services businesses that generate $6 billion a year in revenue.

Jul 20, 2015

Lockheed expects positive Pentagon view on Sikorsky buy

WASHINGTON (Reuters) – Lockheed Martin Corp on Monday said Pentagon officials planned a detailed review of the company’s bid to acquire Sikorsky Aircraft, the helicopter unit of United Technologies Corp, but it did not expect major obstacles.

Lockheed Chief Executive Marillyn Hewson said the deal would not reduce the number of competitors in the helicopter sector, and a strategic review aimed at selling or spinning off $6 billion of the company’s services and IT businesses would help streamline a crowded sector.