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☆ Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and more
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue.

Persons: Carvana, Eli Lilly —, Goldman Sachs, MongoDB, NYCB, DocuSign, LSEG, Morgan Stanley, Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Nvidia —, Nvidia, Marvell Technology, LSEG, RBC Capital Markets, Costco, U.S . Food, Drug Administration, Broadcom, Textron — Textron, Bank of America, Old Navy, New York Community Bancorp, Moody's Investors Service, Amylyx Pharmaceuticals, UBS — U.S, UBS, Auto, Deutsche Bank Locations: U.S, Swiss, China

☆ Stocks making the biggest moves premarket: Carvana, Gap, Eli Lilly, UBS and more
▼ + stars: | 2024-03-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The database software maker posted adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had called for earnings of 47 cents per share and $433 million in revenue, according to LSEG. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. According to analysts surveyed by LSEG, Wall Street had expected earnings of 64 cents per share on $699 million in revenue. Eli Lilly — Shares slipped 1% premarket after the U.S. Food and Drug Administration delayed approving its Alzheimer's drug, donanemab.

Persons: MongoDB, DocuSign, Deutsche, Li, Morgan Stanley, LSEG, Eli Lilly —, —, Sarah Min, Michelle Fox, Jesse Pound Organizations: RBC, Li Auto, Deutsche Bank, Navy, UBS — U.S, UBS, Marvell Technology, Broadcom, Revenue, Textron —, Bank of America, Textron, New York Community Bancorp, Moody's, U.S . Food, Drug Administration, Costco —, LSEG Locations: Swiss, U.S

☆ The Cessna CitationJet family was the most popular private aircraft in the US for 2023. See all the varying models that make it so desirable.
▼ + stars: | 2024-02-29 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

The Cessna CitationJet was the most popular private plane in the US in 2023, according to JetSpy. The ultra-rich prefer private aviation for its convenience and the variety of aircraft available. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. However, Textron Aviation's family of Cessna CitationJet aircraft proved to be the most popular in the US last year, performing a collective 273,522 flights in 2023, according to data from the aircraft-tracking website JetSpy. AdvertisementHere's a closer look at the CitationJet series, which all offer varying ranges, speeds, and cabins to suit the needs of rich flyers.

Persons: — Organizations: Cessna, Service, Bombardier Global, Textron Locations: Sun

☆ We don't see that rising interest rates are affecting our customers: Textron Aviation SVP
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe don't see that rising interest rates are affecting our customers: Textron Aviation SVPLcnbc annie O'Bannion of Textron Aviation discusses how inflation, rising interest rates and supply chain shocks are impacting the business.

Persons: annie O'Bannion Organizations: Textron Aviation

☆ Investing in Space: How bankers read a potential sale of rocket builder ULA
▼ + stars: | 2024-02-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. It's been widely reported over the last year that ULA parent companies Boeing and Lockheed Martin are considering offloading the rocket business. That's despite the successful debut of ULA's Vulcan rocket in early January, which I assumed would galvanize a sale. In the meantime, I've been curious to understand how ULA's sale is likely to play out. Boeing and Lockheed Martin are, and have been, looking to sell the rocket business for some time.

Persons: CNBC's Michael Sheetz, It's, Lockheed Martin, ULA, Tory Bruno, Jeff Bezos, hasn't, I've, it's Organizations: Boeing, Lockheed, Origin, Textron, SpaceX, U.S ., Glenn, Vulcan Locations: ULA

CORTINA D'AMPEZZO, Italy (AP) — There’s something about the 2026 Olympics course in Cortina that brings the best out of American skier Jacqueline Wiles. Ten years ago, Wiles scored her first World Cup points at the Italian resort with a 15th in a downhill. “I’ve always loved Cortina,” Wiles said. A week after her 2018 result, Wiles crashed in Garmisch-Partenkirchen, Germany, and missed nearly two full years with serious injuries to her left leg. Wright returned to the finish area in time to celebrate Wiles’ result.

Persons: Jacqueline Wiles, Wiles, Lindsey Vonn, —, “ I’ve, ” Wiles, “, It’s, “ I’m, she’s, ” Vonn, " Wiles, I’m, “ They’ve, Jackie, Jack, Jacqueline, ”, BELLA’S, Bella Wright, ” Wright, Mikaela Shiffrin, Wright, that’s, Patrick Riml, ” Riml Organizations: CORTINA D'AMPEZZO, Cortina, Milan, Textron Aviation, TEAM Locations: Italy, Cortina, Garmisch, Partenkirchen, Germany, Vonn, Instagram, Portland , Oregon

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Cessna-maker Textron to cut 725 jobs as part of restructuring plan
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Cessna employee Dwight Bennett works inside of a jet during a tour of the Cessna business jet assembly line at their manufacturing plant in Wichita, Kansas August 14, 2012. REUTERS/Jeff Tuttle/File Photo Acquire Licensing RightsNov 28 (Reuters) - Business jet maker Textron (TXT.N) said on Tuesday it would cut 725 jobs as part of its restructuring plan in an attempt to reduce operating expenses, sending its shares up more than 2% after the bell. The restructuring, which is likely to be completed in the first half of 2024, is expected to save nearly $75 million annually, Textron said. Textron's plan would result in a pre-tax special charge of $115 million to $135 million in the fourth quarter. The parent of Cessna business jets said charges related to restructuring and impairment would not impact its full-year financial outlook.

Persons: Dwight Bennett, Jeff Tuttle, Goldman Sachs, Abhinav Parmar, Arun Koyyur Organizations: Cessna, REUTERS, Textron, Bell, Textron Systems, Major U.S, Amazon.com, Wall, Thomson Locations: Wichita , Kansas, Major, Bengaluru

☆ Cramer's Lightning Round: 'Do not touch' UiPath
▼ + stars: | 2023-11-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Fortinet's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon Prudential's year-to-date stock performance. Stock Chart Icon Stock chart icon Textron's year-to-date stock performance. Stock Chart Icon Stock chart icon Target's year-to-date stock performance.

Organizations: Palo Alto Networks, Prudential, Diageo, Textron Locations: Fortinet, Palo Alto

☆ Lightning Round: Textron is way too cheap, says Jim Cramer
▼ + stars: | 2023-11-08 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Textron is way too cheap, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Fortinet, UiPath, Prudential Financial, Diageo, Textron and Target.

Persons: Jim Cramer Organizations: Textron, Prudential Financial, Diageo, Target Locations: UiPath

☆ Cessna unveils new jet: CEO Ron Draper on Citation CJ3 Gen2
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCessna unveils new jet: CEO Ron Draper on Citation CJ3 Gen2CNBC’s Phil LeBeau and Textron Aviation CEO Ron Draper joins 'Squawk Box' to discuss the unveiling of Cessna's new Citation CJ3 Gen2 jet, growing demand for business jets, and more.

Persons: Ron Draper, Phil LeBeau Organizations: Cessna, Textron Aviation

☆ The fastest private jets in the world ranked by speed
▼ + stars: | 2023-10-08 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

The Bombardier Global 8000 is poised to become the world's new fastest private jet come 2025. AdvertisementAdvertisementHere are some of the fastest private jets in the world — with one actually exceeding Mach 1 during a test flight. The G280 and G400 siblings have a maximum operating speed of Mach 0.85 and 0.90, respectively — making the latter also one of the world's fastest private jets. Dassault Falcon 10X: Mach 0.925 (710 mph)Dassault Aviation's new Falcon 10X private jet is scheduled to debut in 2025. Bombardier Global 8000: Mach 0.94 (721 mph)Private charter company NetJets will be the launch customer of the Global 8000.

Persons: —, they're, Dominique Boutin, Taylor Swift, Mike Fuchslocher, FlightGlobal Organizations: Bombardier Global, Manufacturers, Service, Boeing, Dassault Falcon, Getty, Dassault 7X, Bombardier, Gulfstream, Dassault, Falcon, Dassault Aviation, Gulfstream G700, Gulfstream Gulfstream, Qatar Airways Executive, —, Paris Air Show, Cessna, Textron Aviation, Private, Galactic's Locations: Concord

☆ Textron announces option to sell up to 1,500 Cessna Citation aircraft to NetJets
▼ + stars: | 2023-09-20 | by ( Mehr Bedi | ) www.reuters.com time to read: +1 min

A worker cleans a NetJets booth on the trade show floor, in preparation for the NBAA Business Aviation Convention & Exhibition at the Las Vegas Convention Center, in Las Vegas, Nevada, U.S., October 11, 2021. REUTERS/Steve Marcus Acquire Licensing RightsSept 20 (Reuters) - Textron Aviation (TXT.N) and NetJets on Wednesday signed an agreement which would give the private jet firm owned by Berkshire Hathaway an option to buy up to 1,500 additional Cessna Citation business jets over the next 15 years. The deal for Cessna Citation business jets, which are designed, produced and delivered by Textron, could be valued at approximately $30 billion, according to analysts at Jefferies. The deal extends NetJets' existing fleet agreement and includes options for an increasing number of aircraft each year, allowing it to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. Deliveries of the Citation Ascend are expected to begin in 2025 when the aircraft, currently under development, is expected to enter into service.

Persons: Steve Marcus, Berkshire Hathaway, Mehr Bedi, Shilpi Majumdar Organizations: NBAA Business Aviation Convention, Las Vegas Convention, REUTERS, Textron Aviation, Wednesday, Berkshire, Cessna Citation, Textron, Jefferies, Cessna, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ Stocks making the biggest moves midday: Instacart, Steelcase, Klaviyo and more
▼ + stars: | 2023-09-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Klaviyo — Klaviyo shares jumped more than 9% after the marketing automation company surged to $36.75 after its New York Stock Exchange initial public offering. Stellantis — Shares rose about 1.7% after sales in Europe of brands such as Peugeot and Opel surged more than 6% in August. On Holding — The shoe stock rose finished lower ever after Needham initiated coverage with a buy rating. Lululemon — The athleisure clothing company rose nearly 2% after Needham initiated coverage with a buy rating, saying it expects double-digit top-line growth as accelerating technical innovation drives demand. Davidson initiated coverage on the stock at a buy.

Persons: Instacart, Steelcase, Jefferies, Davidson, Mills, Coty, Morgan Stanley, Chewy, Oppenheimer, Needham, Goldman Sachs, Azul, it's, —, Alex Harring, Hakyung Kim, Jesse Pound, Michelle Fox, Sarah Min, Yun Li, Lisa Kailai Han Organizations: Nasdaq, New York Stock Exchange, Bausch Health, —, Health, Peugeot, Opel, Chrysler, United Auto Workers, Citi, D.A, LSEG, Coty, Technologies, Textron — Textron, Berkshire Hathaway, Cessna Citation, Azul, JPMorgan, First, Bank Locations: Europe, U.S

☆ Take a look at the $10 million Embraer Phenom 300, which just became the new most popular private jet in the US
▼ + stars: | 2023-09-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

The Embraer Phenom 300 has surpassed the Cessna Citation Excel as the US' most popular private jet. AdvertisementAdvertisementThe Cessna Citation Excel family (top) has been the US' most-flown private jet for the past 15 years. jremes84/Shutterstock, NetJetsThe Cessna Citation Latitude, the Cessna Citation V, and the Cessna Citation CJ3 business aircraft were also in the FAA's monthly report as the third, sixth, and ninth most-flown private planes, respectively. And, it costs about $3 million less than $13 million Cessna Citation XLS+, which is the latest version of the Excel. He also explained that Embraer's "long airliner heritage" (the company also builds commercial planes) gives the Phenom 300 a "perception of being purpose-built for high utilization."

Persons: Embraer Executive Jets Michael Amalfitano, Brian Foley Organizations: Embraer, Cessna, Excel, Textron, Federal Aviation, Embraer Phenom, Embraer Executive Jets, LinkedIn, Private, Bloomberg Locations: Brazilian, America

☆ BAE snaps up Ball's aerospace arm for $5.6 billion in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. He also confirmed the 1.5 billion pound ($1.91 billion) share repurchase announced with its half-year results. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

Persons: Cheney Orr, Tom Arseneault, Chloe Lemarie, Charles Woodburn, Yadarisa Shabong, Chandini, Susan Mathew, Subhranshu Sahu, Jason Neely, Sharon Singleton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Shore Capital, Britain's, British, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Colorado, Bengaluru

☆ BAE Systems snaps up Ball Corp's aerospace arm for about $5.55 bln
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems were down 3% by 0730 GMT. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The proposed deal would be treated as an asset purchase for federal tax purposes, BAE said. ($1 = 0.7856 pounds)Reporting by Yadarisa Shabong in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Cheney Orr, Chloe Lemarie, Charles Woodburn, Morgan Stanley, Yadarisa, Subhranshu Sahu, Jason Neely Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Britain's, Intelligence, Thomson Locations: Huntsville , Alabama, U.S, Colorado, Bengaluru

☆ BAE snaps up Ball's aerospace arm for $5.6 bln in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. The war in Ukraine has led to new demand for those in munitions supply chains, Tom Arseneault, head of BAE's U.S. business, told analysts. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

☆ Here are 13 stocks Jim Cramer is watching Tuesday, including Ollie's and Norfolk
▼ + stars: | 2023-08-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

Workday (WDAY): Jefferies raises price target to $275 from $250, another positive call on enterprise software, which has been the Achilles heel of the Nasdaq. Deckers Outdoor (DECK) price target to $618 from $564 at TD Cowen. Ollie's Bargain Outlet (OLLI) PT raised to $83 from $67 at Wells Fargo, sees significant surge in bargain shopping. Substack meets MasterClass meets The Economist meets The New Yorker ... XPO Logistics (XPO) is out of penalty box. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jefferies, Oppenheimer, Buffett, LEN, Horton, Cowen, OLLI, Substack, MasterClass, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Andrew Harrer Organizations: Southern, Getty Images, Hollywood, Barclays, Nasdaq, Textron, Bank of America, PayPal, XPO Logistics, Jim Cramer's Charitable, CNBC, Norfolk Southern Corp, Bloomberg, Getty Locations: Susquehanna, Wells Fargo, Singapore, Norfolk , Virginia

☆ SolarEdge is among the most oversold stocks in the S&P 500. Here are the others
▼ + stars: | 2023-08-12 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Following this week's moves, CNBC Pro used FactSet data to screen for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Here are some of the most oversold names: SolarEdge is one of the most oversold companies in the S & P 500. NextEra Energy had the highest number of analyst buy ratings among the stocks on the oversold list, according to CNBC's screen. Meanwhile, the following 10 stocks are the most overbought in the S & P 500: Marathon Petroleum is the most overbought stock in the broad-based index, with an RSI of 96.3. Oilfield servicer Halliburton Company , Cessna aircraft maker Textron and construction services provider Jacobs Solutions are also among the most overbought companies in the S & P 500.

Persons: Dow Jones Industrials, SolarEdge Organizations: SolarEdge Technologies, Nasdaq, Nvidia, Micron, CNBC Pro, Street, NextEra Energy, Moderna, GE Healthcare Technologies, Ameren Corporation, Enphase Energy, Marathon Petroleum, Biotech, Global Payments, Jefferies, servicer Halliburton Company, Cessna, Textron, Jacobs Solutions Locations: Florida, Cambridge , Massachusetts

☆ Bombardier quarterly profit beats estimates on demand for business jets
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Christinne Muschi/File PhotoMONTREAL, Aug 3 (Reuters) - Canada's Bombardier Inc (BBDb.TO) on Thursday reported better-than-expected quarterly profit and higher revenue despite supply chain pressures, helped by demand for flying and maintaining private planes. The Montreal-headquartered business jet maker reported a second-quarter profit of $10 million from continuing operations, compared with a loss of $109 million a year earlier. CEO Eric Martel told analysts that despite "pressure points" such as smaller suppliers, the supply chain is improving and will "remain a key area of focus for the foreseeable quarters". Last month, Gulfstream jet maker Textron Inc (TXT.N) raised its full-year profit forecast on strong jet pricing. On a per share basis, quarterly adjusted profit was 72 cents, compared with a loss of 48 cents a year earlier.

Persons: Christinne, Eric Martel, Refinitiv, Allison Lampert, Abhijith, Saumyadeb Chakrabarty, Jan Harvey Organizations: Bombardier Global, REUTERS, MONTREAL, Bombardier Inc, Gulfstream, Textron Inc, Bombardier, Thomson Locations: Montreal, Quebec, Canada, Bengaluru

NEW YORK, July 7 (Reuters) - Private equity firms Blackstone Inc (BX.N) and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp (BALL.N), according to people familiar with the matter. The unit, which accounted for 13% of Ball's consolidated net sales in 2022, provides aerospace and national defense hardware, such as sensors and antennas. In June, Ball said it was considering options for its aerospace unit, after Reuters reported on the sale process. Blackstone owns Arka Group, an aerospace and defense technologies firm whose clients include the U.S. military, while Veritas owns companies including CAES Space Systems, which is a supplier of advanced electronic systems for aerospace and defense. Ball could incur a hefty tax bill of over $1 billion if the aerospace unit is sold for $5 billion or more, according to analysts at Jefferies.

Persons: Ball, Blackstone, David Carnevali, Mike Stone, Daniel Wallis Organizations: YORK, Blackstone Inc, Veritas Capital Fund Management, Ball Corp, BAE Systems, General Dynamics Corp, Textron Inc, Reuters, Blackstone, Veritas, Arka Group, U.S ., CAES, Systems, Bae Systems, Textron, General Dynamics, Lockheed Martin Corp, Rocketdyne Holdings, L3Harris Technologies, Jefferies, Thomson Locations: New York, Washington

☆ Stocks making the biggest moves premarket: JetBlue Airways, Meta, Sweetgreen and more
▼ + stars: | 2023-07-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:JetBlue Airways — JetBlue Airways declined 1.3% in premarket trading after the company said it would end its partnership in the northeastern U.S. with American Airlines and focus on Spirit Airlines . Meta Platforms — The social media giant added about 2% in premarket trading after the launch of Threads, a direct competitor to Twitter. Sweetgreen — Sweetgreen jumped more than 4% after Bank of America upgraded the stock to buy from neutral. Keurig Dr Pepper — Shares added nearly 2% after being upgraded by Morgan Stanley to overweight from equal weight. Shares rose nearly 0.9% in premarket trading.

Persons: Mark Zuckerberg, — Sweetgreen, Dr Pepper —, Morgan Stanley, — CNBC's Brian Evans, Michelle Fox, Jesse Pound Organizations: JetBlue Airways — JetBlue Airways, American Airlines, Spirit Airlines, Twitter, Meta, Bank of America, Microsoft, Citi, Textron — Citi, Textron

Citi thinks aircraft maker Textron is due for a rebound after underperforming thus far in 2023. "We are constructive on revenue and earnings visibility given recent backlog growth, particularly in the company's Aviation and Bell segments," analyst Jason Gursky wrote in a Wednesday note. Current wait lists for new aircraft stretch to more than two years, he noted — resulting in up to 360% backlog growth for Textron since 2019. To be sure, he said that Textron's industrial segment does not have much "connective tissue" across its various assets, which include automotive, aerospace and leisure. A rise in military spending should also create tailwinds for Textron's defense-oriented Bell and Systems segment, added the analyst.

Persons: Jason Gursky, Gursky, —, Michael Bloom Organizations: Citi, Textron, company's Aviation, Bell, Systems

☆ Ball Corp considers options for aerospace unit
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Ball Corp (BALL.N), the world's largest supplier of beer cans, said on Tuesday it was considering options for its aerospace business, days after a report said the company was looking to sell the unit for more than $5 billion. The business has attracted the interest of large defense companies such as BAE Systems (BAES.L) and Textron (TXT.N), as well as private equity firms, the Reuters report had said. There is no certainty that any formal decision will be made, Ball Corp said in a statement on Tuesday. The divestment of the aerospace business, which accounted for 13% of Ball's consolidated net sales in 2022, would allow the company to focus more on its beverage packaging operations and trim its debt pile of about $9.7 billion. Reporting by Shivansh Tiwary in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Shivansh, Shinjini Organizations: Ball Corp, BAE Systems, Textron, Reuters, Thomson Locations: Bengaluru

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