Will Boeing Move Some of its Aircraft Design out of Washington? (WSJ)
On an earnings call today, The Boeing Company (NYSE:BA) discussed results that beat Wall Street expectations despite the grounding of the 787 Dreamliner. It also revealed a small but interesting piece of news about the future of its aircraft designers — but you needed to have a keen sense of grammar to pick up the significance of it. Boeing chief executive Jim McNerney said the company was moving forward with a likely end-of-year launch of its planned new version of its hugely-popular 777, dubbed the 777X. In his opening remarks, Mr. McNerney said the following (emphasis ours): “The business case for the 777X also continues to mature as we further evaluate options including design and production locations.”
Air Canada confirms $714M financing for new planes (CTVNews)
Air Canada confirmed Wednesday that it plans to tap into a novel way — at least in Canada — of financing the purchase of five new The Boeing Company (NYSE:BA) 777 aircraft. The Montreal-based airline announced the private offering of three tranches of enhanced equipment trust certificates (EETC) worth US$714.5 million. The aircraft are scheduled for delivery between June 2013 and February 2014. Loxley Aviation Ltd. has been created to facilitate Air Canada’s inaugural offering, Moody’s Investors Service said in assigning ratings of Baa3 to tranche A, B1 to tranche B and B3 to tranche C.
Pentagon sees risks, progress on Lockheed’s F-35 jet (ET)
Top Pentagon officials on Wednesday cited both progress and continuing risks on the $396 billion Lockheed Martin Corporation (NYSE:LMT) F-35 fighter program, and said Singapore had shown “tremendous interest” in the next-generation stealth fighter. Air Force Lieutenant General Christopher Bogdan, the Pentagon’s F-35 program chief, told a subcommittee that he expects to reach agreement with Lockheed about a sixth and seventh batch of F-35s by the end of May, followed by a contract award in June. Sources familiar with the matter said the deal would cover 71 planes and would be worth about $9 billion. Bogdan told a subcommittee of the Senate Armed Services Committee that Singapore would likely decide by this summer whether to buy the new warplane.
Israeli Aerospace reaches deal with Lockheed to make wings for F-35 next generation warplane (WashingtonPost)
Israel Aerospace Industries says it has signed a long-term contract with U.S. defense giant Lockheed Martin Corporation (NYSE:LMT) to produce wings for the F-35 next-generation fighter jet. The state-owned company said Tuesday the contract is for 10 to 15 years and could generate up to $2.5 billion in sales. It says the wings will be made at an Israeli facility that already produces wings for Lockheed’s F-16 warplane. The F-35 is the Pentagon’s most expensive weapons program, with an estimated cost of nearly $400 billion. The program aims to replace a wide range of existing aircraft for the U.S. and several partner countries.
Lockheed Martin encourages STEM education at youth event (PhillyBurbs)
On a normal day, engineers at Lockheed Martin Corporation (NYSE:LMT) in Newtown Township are busy working on satellites, rockets and other space vehicles. On Thursday, however, they were launching model rockets, serving snow cones, building marshmallow satellites and performing other tasks with about 300 children as part of its Young Minds at Work program. The annual event, held in conjunction with Take Your Children to Work Day, is a hands-on opportunity for kids ages 6 to 18 to learn more about science and engineering careers. Held at sites throughout the country, the program is open to any child sponsored by a Lockheed Martin employee.
How Congress funnels money to single defense contractors (Philly)
The Army wants $551 million to buy surface-to-air missiles from Lockheed Martin Corporation (NYSE:LMT). The Navy wants to spend $157 million the aerospace giant’s KC-130J tanker plane. The Air Force has $291 million worth of JASSM missiles on its wish list. Altogether, defense procurement programs worth $6.9 billion name Lockheed Martin as their sole contractor. And they’re not the only one: 14 companies, including The Boeing Company (NYSE:BA), Raytheon and Northrop Grumman, were the only contractors listed on programs totaling $100 million or more. Congress is now in the midst of its secretive spending process, with members of the Appropriations Committees of the House and Senate considering programmatic and language requests submitted by their colleagues — increases or decreases in the amount spent, or changes in emphasis in each program in the federal budget.
Rockwell Collins PT Raised to $65.00 at Imperial Capital (COL) (MideastTime)
Research analysts at Imperial Capital upped their target price on shares of Rockwell Collins, Inc. (NYSE:COL) from $64.00 to $65.00 in a report released on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has an “in-line” rating on the stock. Rockwell Collins, Inc. (NYSE:COL) traded up 0.52% on Wednesday, hitting $61.67. Rockwell Collins has a 52-week low of $46.37 and a 52-week high of $64.16. The stock’s 50-day moving average is currently $62.11. The company has a market cap of $8.498 billion and a price-to-earnings ratio of 14.25.
Stocks to Watch – Lockheed Martin Corporation (NYSE:LMT), Rockwell Collins, Inc. (NYSE:COL). (TechSonian)
King Penny Stocks is an elite financial community for investors and traders alike who are looking to potentially gain financial freedom through the markets on undervalued companies and “in-play” momentum penny stocks. …Rockwell Collins, Inc. (NYSE:COL) was showing an upward trend during the previous trading session. Rockwell Collins, Inc. (NYSE:COL) reported the increase of 0.52% to close at $61.67 with the overall traded volume of 1.08 million shares. Rockwell Collins, Inc. (NYSE:COL) has the total of 135.67 million outstanding shares. During last trade, the company’s minimum price was $61.63, while it touched its highest price of $62.50. Its market capitalization was $8.37 billion. Its beta value stands at 1.15 times and earnings per share was $4.31. Company’s year to date performance remained optimistic with the climb of 6.02%. If we look at the last 6 months of trade, that is in the bullish zone with the rise of 16.91%.
