Andrea's Feed
Oct 20, 2015

U.S. Navy, allies intercept targets in European missile test

WASHINGTON (Reuters) – The U.S. military and eight allied countries on Tuesday worked together to simultaneously intercept dummy ballistic and cruise missiles off the coast of Scotland, the U.S. Navy said, calling the test an important first demonstration of that capability in Europe.

It was the first time that a Standard Missile-3 Block IA guided interceptor built by Raytheon Co was fired on a non-U.S. range, and the first intercept of a ballistic missile threat target in Europe, the Navy said.

Oct 20, 2015

Canadian election results seen as bad news for Lockheed’s F-35

WASHINGTON (Reuters) – The election of Canada’s Liberal leader Justin Trudeau as prime minister spells bad news for Lockheed Martin Corp’s F-35 advanced fighter jet program because last month Trudeau said he would not buy the plane if elected, U.S. industry and government sources said on Tuesday.

Trudeau’s election perhaps offers hope to Boeing Co, whose F/A-18E/F fighter jets are nearing the end of production and the company could be considered as a supplier of a new fighter jet.

Oct 20, 2015

Lockheed tops third-quarter profit view on increased sales of F-35 jets

By Ankit Ajmera and Andrea Shalal

(Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon’s No. 1 weapons supplier, reported better-than-expected quarterly results on higher demand for its F-35 fighter jets, and said it expects full-year revenue at the higher end of its forecast.

Revenue at Lockheed’s aeronautics division increased about 11 percent to $3.92 billion in the third quarter, with $500 million coming from additional sales of the F-35 fighter jet, it said on Tuesday.

Oct 20, 2015

Lockheed tops 3rd-qtr profit view on increased sales of F-35 jets

Oct 20 (Reuters) – Lockheed Martin Corp, the
Pentagon’s No. 1 weapons supplier, reported better-than-expected
quarterly results on higher demand for its F-35 fighter jets,
and said it expects full-year revenue at the higher end of its
forecast.

Revenue at Lockheed’s aeronautics division increased about
11 percent to $3.92 billion in the third quarter, with $500
million coming from additional sales of the F-35 fighter jet, it
said on Tuesday.

Oct 20, 2015

U.S. approves $11.25 billion warship sale to Saudi Arabia

WASHINGTON (Reuters) – The U.S. government has approved the sale of four Lockheed Martin Corp multi-mission warships and associated equipment to Saudi Arabia, a deal valued at $11.25 billion, according to a U.S. government official.

The Pentagon’s Defense Security Cooperation Agency, which oversees foreign military sales, notified U.S. lawmakers late Monday about the possible sale, said the source, who was not authorized to speak publicly.

Oct 19, 2015

Aerospace startups, investors matched using reality TV show format

WASHINGTON, Oct 19 (Reuters) – The business development
company Starburst Accelerator, which calls itself the world’s
largest incubator for aerospace startups, said on Monday it has
signed agreements with Boeing Co, Raytheon Co and
other big companies looking for new technologies.

Starburst will expose the big aerospace companies to its
stable of fledgling aerospace companies with products ranging
from drones to aircraft seats to complex aviation software. It
says many of its start-ups have technology that could radically
alter the way aircraft are now built and maintained.

Oct 16, 2015

Exclusive: Lockheed eyes overhead cuts of up to 30 percent – sources

WASHINGTON (Reuters) – Lockheed Martin Corp, the Pentagon’s No. 1 supplier, has launched a review aimed at cutting corporate overhead costs by as much as 30 percent, according to two sources familiar with the initiative.

Lockheed would already reduce overhead substantially as part of an announced plan to sell or spin off an array of services businesses with revenue of $6 billion. The move will eliminate one of the $45 billion company’s five current business divisions.

Oct 16, 2015

Exclusive: Lockheed eyes overhead cuts of up to 30 percent

WASHINGTON (Reuters) – Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz), the Pentagon’s No. 1 supplier, has launched a review aimed at cutting corporate overhead costs by as much as 30 percent, according to two sources familiar with the initiative.

Lockheed would already reduce overhead substantially as part of an announced plan to sell or spin off an array of services businesses with revenue of $6 billion. The move will eliminate one of the $45 billion company’s five current business divisions.

Oct 16, 2015

Lockheed, U.S. Air Force reach agreement on C-130 multiyear deal

WASHINGTON, Oct 15 (Reuters) – Lockheed Martin Corp
on Thursday said it had reached a verbal agreement with the
U.S. Air Force on a five-year contract to build up to 83 C-130J
Super Hercules transport planes for the Air Force, Coast Guard
and Marine Corps through 2020.

The company said its goal was to complete the remaining
contract actions, certifications and congressional notifications
and finalize the deal by the end of the year,

Oct 14, 2015

Lockheed-Sikorsky deal could close by late October: sources

WASHINGTON (Reuters) – Lockheed Martin Corp’s (LMT.N: Quote, Profile, Research, Stock Buzz) $9 billion purchase of Sikorsky Aircraft from United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) could close by late October or early November, well before the initial year-end target, three sources familiar with the matter said on Wednesday.

Lockheed announced last month that officials in the United States, South Korea and Japan had approved the deal, but it was waiting for other regulatory approvals.