Andrea's Feed
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.

Jul 20, 2015

Lockheed to buy Sikorsky for $9 bln; reviews options for IT business

WASHINGTON, July 20 (Reuters) – Lockheed Martin Corp
said Monday it would buy Sikorsky Aircraft, the helicopter unit
of United Technologies Corp, for $9 billion, and would
review the possible sale or spinoff of $6 billion in other
information technology and services businesses.

The Pentagon’s largest supplier said the net cost of the
Sikorsky deal was around $7.1 billion, taking into account tax
benefits resulting from the transaction. Lockheed also reported
higher earnings and revenue for the second quarter.
.

Jul 20, 2015

Exclusive: Lockheed to buy United Tech’s Sikorsky for over $8 billion

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) has agreed to buy United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky Aircraft for over $8 billion, two sources said on Sunday, cementing a deal that would confirm Lockheed’s dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet.

The deal will add further heft to Lockheed, which already has annual revenues of around $45 billion and dwarves its nearest competitors, the defense business of Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) and Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz).

Jul 19, 2015

Exclusive: Lockheed to buy United Tech’s Sikorsky for over $8 billion – source

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the largest U.S. weapons maker, has agreed to buy United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) Sikorsky Aircraft unit, the maker of Black Hawk helicopters, for over $8 billion, a source familiar with the negotiations said on Sunday.

The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorized to speak publicly.

Jul 19, 2015

Congress to examine FBI handling of Tennessee shooter

WASHINGTON (Reuters) – U.S. lawmakers will examine possible shortcomings in law enforcement or intelligence in the case of a Tennessee shooting that killed five servicemen, a top Republican said on Sunday, adding that the case may be linked to Islamic State.

Representative Mike McCaul, who heads the U.S. House of Representatives homeland security committee, told ABC’s “This Week” program the case highlighted growing concern about Internet-based directives from Islamic State leaders in Syria.

Jul 19, 2015

Defiant Trump refuses to apologize for McCain remarks

WASHINGTON (Reuters) – Presidential candidate Donald Trump refused on Sunday to apologize for his remarks about the war record of U.S. Senator John McCain despite a growing firestorm among fellow Republicans, and said he had no plans to drop out of the race.

Asked on ABC’s “This Week” if he owed McCain an apology for saying the former prisoner in North Vietnam was only considered a war hero because he was captured, Trump said, “No, not at all.” He again blasted McCain’s support for fellow veterans.

Jul 17, 2015

U.S. Marines nearing F-35B combat readiness declaration

WASHINGTON, July 17 (Reuters) – The U.S. Marine Corps’ top
aviator flew to an Arizona air base this week as part of a final
effort to certify the combat-readiness of an initial squadron of
10 Lockheed Martin Corp F-35B fighter jets, their pilots
and technicians.

Marine Corps officials were due to brief Lieutenant General
Jon Davis, deputy commandant for aviation, on a week-long review
which included operational and simulator flights in five core
mission areas, an inspection of the maintenance department, and
academics for both pilots and technicians.