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☆ Stocks making the biggest moves midday: General Dynamics, United Airlines, Spotify and more
▼ + stars: | 2023-10-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Spotify — Shares of the music streaming service company fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. Tesla — The automaker's stock fell 2.3% in Monday trading upon news that the company's year-over-year sales declined 10.9% in China last month, according to data from the China Passenger Car Association. Oil stocks — Energy stocks soared following the escalation of the Israel-Hamas conflict over the weekend. Airline stocks — On a broader level, airline names were down after several major airlines suspended service to Israel following this weekend's attacks. United Airlines slid 5.3%, while Delta Air Lines and American Airlines shed 4.5% and 5.3%, respectively.

Persons: Elizabeth, Saket Kalia, Bristol Myers, Tesla, Baird, — Datadog, Hess, Northrop Grumman, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: General Dynamics Corp, Spotify, Atlantic, Amazon, Barclays, Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Motorola Solutions, Motorola, Bank of America, — Energy, Halliburton, CF Industries, Defense, L3Harris Technologies, General Dynamics, Airline, United Airlines, Delta Air Lines, American Airlines Locations: NASSCO, Norfolk , Virginia, China, Israel, Palestine

☆ 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.

☆ Finding a good dividend stock is getting harder to find these days. Here are five.
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Global dividends will total just over $2 billion in 2023, completely flat with last year, according to a new report from S & P Global Market Intelligence. This the lowest growth rate in the last 10 years aside from the pandemic contraction in 2020, the new report from S & P notes. As a first step, we looked at companies that are in the S & P Dividend Aristocrats index. S & P Global is another name on the list. For investors looking for dividend growth who do not want to bet on individual names, the ProShares S & P 500 Dividend Aristocrats ETF tracks the performance of the special S & P index.

Persons: Albemarle Organizations: Wall, P Global Market Intelligence, CNBC, Global, P Global, Utilities, NextEra Energy, Industrial, Emerson Electric, General Dynamics Corporation, General Dynamics

☆ General Dynamics profit beats estimates on military equipment demand
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Defense contractor General Dynamics Corp (GD.N) on Wednesday reported a better-than-expected quarterly profit, helped by resilient demand for military equipment, sending its shares up 2% in premarket trading. General Dynamics benefited from robust demand for weapons, driven by simmering geopolitical tensions in the Indo-Pacific region, conflict in Ukraine and military modernization efforts of ally countries. The aerospace segment booked $2.5 billion in new orders during the quarter, driven by strong demand for the company's Gulfstream business aircraft. The company reported a backlog of $91.4 billion, compared to $87.6 billion. Its book-to-bill ratio, which is the ratio of orders received to units shipped and billed, was 1.2-to-1.

Persons: Pratyush Thakur, Shilpi Majumdar, Maju Samuel Organizations: Defense, General Dynamics Corp, General Dynamics, Revenue, U.S . Navy, Gulfstream, Thomson Locations: Ukraine, Virginia, Reston , Virginia, 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

☆ JPMorgan, General Dynamics board member Jim Crown dies in accident
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, June 26 (Reuters) - JPMorgan Chase & Co (JPM.N) and General Dynamics Corp (GD.N) board member Jim Crown died on Sunday in a vehicle accident in Colorado, a county coroner said. Crown, 70, was the chairman and chief executive officer of Henry Crown and Co., a privately owned company that invests in public and private securities, real estate and operating companies. Crown was involved in a single vehicle accident at the Aspen Motorsports Park in Woody Creek, Colorado, the Pitkin County Coroner's office said in a statement. Bank CEO Jamie Dimon said in a memo to directors seen by Reuters that Crown was an "integral part" of JPMorgan Chase. Crown was also the chairman of The Aspen Institute and trustee of the Museum of Science and Industry and the University of Chicago.

Persons: Jim Crown, Henry Crown, Jamie Dimon, Crown, Nupur Anand, Lananh Nguyen, Tatiana Bautzer, Cynthia Osterman Organizations: YORK, JPMorgan Chase &, General Dynamics Corp, Aspen Motorsports, Bank, Reuters, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, University of Chicago, Thomson Locations: Colorado, Woody Creek , Colorado, Pitkin County, New York

☆ U.S. military aid for Ukraine includes air-launched rockets
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 3 (Reuters) - The United States said Wednesday it would send a new military aid package for Ukraine worth $300 million, including for the first time the Hydra-70 short-range. The security assistance package would be the 37th approved by the United States for Ukraine since Russian invaded its neighbor in February 2022, for a total of $35.7 billion. "The United States and our allies and partners will stand united with Ukraine, for as long as it takes," U.S. Secretary of State Antony Blinken said in a statement announcing the aid package. The rockets, munitions and 155mm howitzer cannons included in the package would help Ukraine weaken Russian ground positions for advancing Ukrainian ground forces as Kyiv plans a spring offensive. The rockets are typically launched from pods attached to aircraft to provide support for ground troops.

☆ General Dynamics revenue rises on strong demand for weapons
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

April 26 (Reuters) - General Dynamics Corp (GD.N) on Wednesday reported a 5.2% rise in quarterly revenue, boosted by strong demand for weapons amid geopolitical instability. Revenue in the first quarter rose to $9.88 billion, compared with $9.39 billion a year ago. Reporting by Pratyush Thakur in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Nasdaq futures rally over 1% after upbeat Microsoft, Alphabet results
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.10%, S&P 0.43%, Nasdaq 1.25%April 26 (Reuters) - Nasdaq futures rallied more than 1% on Wednesday after upbeat results from Microsoft and Alphabet dwarfed worries about the impact of rising interest rates on the U.S. economy. Microsoft Corp (MSFT.O) climbed 7.5% after it beat Wall Street estimates for quarterly results, and said that artificial intelligence products were stimulating sales. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. ET, Dow e-minis were up 33 points, or 0.1%, S&P 500 e-minis were up 17.5 points, or 0.43%, and Nasdaq 100 e-minis were up 160.75 points, or 1.25%. PacWest Bancorp (PACW.O) rallied 17.4% as the regional lender beat estimates for first-quarter profit as it managed to stabilize deposit outflows.

☆ Ukraine to receive Abrams tanks from US as soon as this fall -officials
▼ + stars: | 2023-03-21 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

In January, the U.S. pledged to supply Ukraine with 31 advanced M1A2 Abrams tanks after months of shunning the idea of deploying the difficult-to-maintain tanks to Ukraine, which was invaded by Russia in February 2022. The new plan would give Ukraine the M1A1 SA Abrams tank variant, which can run on diesel fuel like the majority of the Ukrainian fleet, one of the officials said. US soldiers stand with Polish and US flags near M1/A2 Abrams tank outside a hall of 30th International Defence Industry Exhibition in Kielce, Poland September 5, 2022. The General Dynamics Corp (GD.N) production line is currently completing about 12 Abrams tanks a month. The M1A2 tanks would be sourced from government owned "hulls" and refurbished specifically for Ukraine, Ryder said.

☆ Biden wants $886 billion defense budget with eyes on Ukraine and future wars
▼ + stars: | 2023-03-13 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

The total amount of the 2024 budget proposal is $28 billion more than last year's $858 billion. Congress has passed an annual defense budget for more than 60 years. Biden's budget request also speeds the Department of Defense's pace for buying the stealthy F-35 fighter jet to 83. The 2023 budget request asked for 61 F-35 jets made by Lockheed Martin and Congress increased that number to 77. The budget would benefit the biggest U.S. defense contractors including Lockheed, Raytheon, Northrop Grumman Corp (NOC.N) and General Dynamics Corp (GD.N).

☆ Biden to host Australia and Britain to reveal details of submarine pact to counter China
▼ + stars: | 2023-03-10 | by ( David Brunnstrom | ) www.reuters.com time to read: +6 min

In the early 2030s, Australia would buy three Virginia class submarines and have the option to buy two more. Under the initial AUKUS deal announced in 2021, the United States and Britain agreed to provide Australia with the technology and capability to deploy nuclear-powered submarines. It will be the first time the United States has shared nuclear-propulsion technology since it did so with Britain in the 1950s. Currently no party to the nuclear Non-Proliferation Treaty other than the five countries the NPT recognizes as weapons states - the United States, Russia, China, Britain and France - has nuclear submarines. General Dynamics Corp (GD.N), which makes Virginia class submarines, has 17 of them in its current backlog delivering through 2032.

☆ PREVIEW Biden to host Australia and Britain to reveal details of submarine pact to counter China
▼ + stars: | 2023-03-10 | by ( David Brunnstrom | ) www.reuters.com time to read: +6 min

Two of the officials said that after the annual port visits, the United States would forward deploy some submarines in Western Australia by around 2027. In the early 2030s, Australia would buy three Virginia class submarines and have the option to buy two more. It will be the first time the United States has shared nuclear-propulsion technology since it did so with Britain in the 1950s. Currently no party to the nuclear Non-Proliferation Treaty other than the five countries the NPT recognizes as weapons states - the United States, Russia, China, Britain and France - has nuclear submarines. General Dynamics Corp (GD.N), which makes Virginia class submarines, has 17 of them in its current backlog delivering through 2032.

Jan 26 (Reuters) - U.S. defense contractor Northrop Grumman Corp (NOC.N) on Thursday forecast full-year sales above Wall Street estimates, as it benefits from strong demand for weapons from countries ramping up their defense spend. "We're raising our sales outlook for 2023 and expect to deliver strong multi-year cash flow growth," Northrop Grumman Chief Executive Kathy Warden said. Northrop, which produces the fuselage for the F/A-18 Super Hornet fighter jet, posted sales of about $10.03 billion for the quarter ended Dec. 31, ahead of analysts' average estimate of $9.66 billion. Sale in its defense unit, which makes integrated battle management systems, weapons systems, rose to $1.66 billion, from $1.38 billion. Overall adjusted net income stood at $7.50 per share, ahead of analysts' average estimate of $6.57 per share.

☆ S&P 500 closes slightly red as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Five of the 11 major sectors of the S&P 500 ended lower, with utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.6%. The S&P 500 posted 8 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 61 new highs and 30 new lows.

☆ Wall Street dips as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Most of the 11 sectors of the S&P 500 were red, utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.2%. The S&P 500 posted 6 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 52 new highs and 26 new lows.

☆ General Dynamics forecasts weak 2023 as supply, labor challenges persist
▼ + stars: | 2023-01-25 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

[1/2] A General Dynamics NASSCO ship yard entrance is shown in San Diego, California, U.S., June 17, 2019. REUTERS/Mike Blake/File PhotoJan 25 (Reuters) - U.S. defense contractor General Dynamics Corp (GD.N) on Wednesday forecast lower-than-expected 2023 results, as the industry struggles with labor and supply shortages, though strong demand for weapons helped it beat quarterly estimates. An "abnormally high retirement" of workers has impacted General Dynamics' electric boat unit, which assembles nuclear-powered submarines, company executives said on an investor call. General Dynamics said it was working with the U.S. Navy to mitigate the effect of worker shortages, which plagued the defense industry in 2022. "We're seeing demand signals resulting from the war in Ukraine, but we've only just begun to see that manifest in our backlog," General Dynamics Chief Executive Phebe Novakovic said.

☆ U.S. arms exports up 49% in fiscal 2022
▼ + stars: | 2023-01-25 | by ( Mike Stone | ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 25 (Reuters) - Sales of U.S. military equipment to foreign governments rose 49% to $205.6 billion in the latest fiscal year, the U.S. State Department said on Wednesday. Sales approved in the year included $13.9 billion worth of F-15ID fighter jets to Indonesia, $6.9 billion worth of Multi-Mission Surface Combatant ships to Greece, and $6 billion worth of M1A2 Abrams tanks to Poland. General Dynamics Corp (GD.N) makes the Abrams tank, Boeing (BA.N) makes the F-15 jet and Lockheed Martin Corp (LMT.N) makes the ships. The direct military sales by U.S. companies rose 48.6% to $153.7 billion in fiscal 2022 from $103 billion in fiscal 2021, while sales arranged through the U.S. government rose 49.1% to $51.9 billion in 2022 from $34.8 billion the prior year, the State Department said. Sales of U.S. military equipment in the prior fiscal year totaled $138 billion.

☆ U.S. private jet buyers seek distressed planes in early sign of turbulence
▼ + stars: | 2023-01-24 | by ( Allison Lampert | ) www.reuters.com time to read: +5 min

[1/2] A Gulfstream logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. From preowned planes selling more gradually to flattening business jet traffic, demand is beginning to moderate, aviation lawyers, brokers and analysts said. Investors will be watching for clues when Gulfstream-maker General Dynamics Corp (GD.N) and Cessna business jet maker Textron Inc (TXT.N) report earnings on Wednesday. Planemakers rarely disclose cases of distressed planes, but argue they can easily resell unwanted models. Some buyers also scrambled late last year to find distressed planes to qualify for favorable taxation rules.

☆ Defense firms set to post higher sales, McCarthy's election clouds outlook
▼ + stars: | 2023-01-23 | by ( Nathan Gomes | ) www.reuters.com time to read: +3 min

** Raytheon is expected to post quarterly revenue of $18.15 billion and a profit of 92 cents a share. ** General Dynamics is estimated to report quarterly revenue of $10.69 billion and a profit of $3.55 per share. ** Northrop is expected to report quarterly revenue of $9.66 billion and a profit of $6.58 per share. Median 12-month price target is $495. Median 12-month price target is $566.

☆ U.S. to unveil over $3 bln in Ukraine aid with new air defense missiles
▼ + stars: | 2023-01-06 | by ( Mike Stone | ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 6 (Reuters) - A new U.S. weapons aid package for Ukraine worth more than $3 billion is set to be announced later on Friday and will include Sea Sparrow missiles for air defense and Bradley Fighting Vehicles, according to a document seen by Reuters. The Sea Sparrow missiles will help curb Russian missile strikes on Ukraine, which are intended to exhaust Kyiv's air defenses and damage the country's energy infrastructure. The U.S. and Germany have also pledged to send Patriot missile systems to repel Russian missile and drone attacks. The RIM-7 Sea Sparrow will be an additional anti-air defense system for Ukraine. Politico reported on Thursday that the Sea Sparrow System would be used on the Buk launcher, a Soviet-era weapon that Ukraine currently uses.

☆ U.S. announces over $3.75 billion in new military assistance to Ukraine, other countries
▼ + stars: | 2023-01-06 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

WASHINGTON, Jan 6 (Reuters) - The United States will provide more than $3.75 billion in military assistance to Ukraine and countries affected by the Russian invasion of its neighbor, U.S. Secretary of State Antony Blinken announced on Friday. That authority allows the United States to transfer defense items like Humvees, trucks and munitions from stocks quickly without congressional approval in response to an emergency. RIM-7 Sea Sparrow missiles, used for air defense, will also be sent to Ukraine. Ukrainian President Volodymyr Zelenskiy has stressed the need for better air defenses to curb Russian missile strikes that have damaged the country's energy infrastructure during winter. The United States and Germany have also pledged to send Patriot missile systems to repel Russian missile and drone attacks.

☆ Pentagon, U.S. arms makers to meet on labor and supply chain
▼ + stars: | 2022-11-04 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

Prior meetings between Pentagon officials and top arms makers including Lockheed Martin Corp (LMT.N), Raytheon Technologies Corp (RTX.N) and General Dynamics Corp (GD.N) were focused on Ukraine and hypersonic weapon development. Pandemic related supply-chain issues are still hurting defense contractors because components and materials fail to arrive on time, which delays production and ultimately payment. read moreTHE LONGEST POLEIn the meantime, the defense industry is taking steps on its own to shore up supplies and labor. "If I had to boil it down to the longest pole in the tent, it's the labor issues that are pervasive throughout the supply chain," Raytheon Chief Financial Officer Neil Mitchill told Reuters. read moreReporting by Mike Stone in Washington; Editing by Alexandra Alper and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

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