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BAE on track as orders flow amid heightened geopolitical risk
  + stars: | 2023-11-13 | by ( ) www.reuters.com   time to read: +1 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. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Nov 13 (Reuters) - BAE Systems (BAES.L) maintained its guidance for annual earnings to rise as much as 12% as orders for military kit continued to flow at a time of heightened geopolitical risk, benefiting Britain's biggest defence company. BAE upgraded its forecast in August, guiding that earnings per share would grow by 10%-12% in 2023 after orders soared following Russia's invasion of Ukraine last year. Since then, Israel has invaded Gaza in the wake of Hamas' Oct. 7 attack, upsetting stability in the Middle East. The group, whose biggest customers are the United States, Britain, Saudi Arabia and Australia, said it had increasing exposure to "structurally growing" defence markets.
Persons: Cheney Orr, Charles Woodburn, Sarah Young, Kate Holton, Paul Sandle Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Israel, Gaza, Australia, Britain, United States, Saudi Arabia, China
However, the Air Force has kept other price information classified, "which makes validating the proposed cost difficult," the Congressional Research Service said in a 2021 report. The Air Force plans to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. Ann Stefanek, an Air Force spokesperson said, "The B-21 Raider is in flight testing. Flight testing is a critical step in the test campaign managed by the Air Force Test Center and 412th Test Wings B-21 Combined Test Force." In early 2022, the Air Force further delayed it until 2023.
Persons: David Swanson, Ann Stefanek, Lockheed Martin, Northrop, Mike Stone, Valerie Insinna, Franklin Paul Organizations: United States Air, Northrop, Air Force, REUTERS, U.S, Air Force's, Northrop Grumman, Congressional Research Service, Pentagon, Air Force Test Center, Force, Boeing, Lockheed, Pratt, Whitney, Collins Aerospace, GKN Aerospace, BAE Systems, Franklin Paul Our, Thomson Locations: Palmdale , California, U.S, Washington
REUTERS/Susannah Ireland Acquire Licensing RightsROCHESTER, England, Nov 10 (Reuters) - Dozens of pro-Palestinian protesters blocked the entrances to a BAE Systems (BAES.L) factory in southeast England on Friday, targeting Britain's biggest military supplier to call for an end to arms sales to Israel. BAE said it does not directly export any equipment to Israel, but the group is a tier-one supplier on the United States-made F-35 fighter jets which are flown by Israel. We operate under the tightest regulation and comply fully with all applicable defence export controls, which are subject to ongoing assessment." Israel has besieged and invaded Gaza vowing to destroy its ruling Hamas group in the wake of Hamas' Oct. 7 attack on Israel that it says killed 1,400 people. Reporting by Susannah Ireland; writing by Sarah Young, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Persons: Susannah Ireland, Sarah Young, Mark Heinrich Our Organizations: BAE Systems, Hamas, REUTERS, Rights, Britain's, Israel, BAE, stevedores, Thomson Locations: BAE Systems Rochester, Gaza, Israel, Palestinian, Rochester , Kent, Britain, Rights ROCHESTER, England, Rochester, Kent, United States, Belgium, Spain, Barcelona, Belgian, Europe, London
British Secretary of State for Defence Grant Shapps walks outside Number 10 Downing Street, in London, Britain, October 24, 2023. REUTERS/Hannah McKay Acquire Licensing RightsLONDON, Nov 7 (Reuters) - The British arm of defence firm MBDA has signed a 4 billion pound ($4.92 billion) deal to supply Poland with ground-based air defence systems, the British government said on Tuesday. Britain's Ministry of Defence said the partnership would boost Poland's Narew air defence programme and help bolster European security amid the conflict in Ukraine. "This is another crucial step forward for our historic defence ties with Poland, supplying next generation air defence capabilities to act as a clear deterrent to our adversaries," British Defence Secretary Grant Shapps said. The air defence system would be able to launch missiles at air threats such as cruise missiles and fighter jets at ranges of more than 40 kilometres, the ministry said.
Persons: Defence Grant Shapps, Hannah McKay, MBDA, Grant Shapps, Mariusz Blaszczak, Italy's Leonardo, Sachin Ravikumar, Alan Charlish, William James Our Organizations: State, Defence, REUTERS, Britain's Ministry of Defence, British, Airbus, Britain's BAE Systems, Thomson Locations: London, Britain, British, Poland, Ukraine, Poland's
They define that form of value as "combined yield, a blend of dividend yield, free cashflow yield and net buyback yield." "Combined yield has been the best performing of the long-short European factors that we track, year-to-date," the analysts said. Stock screen AllianceBernstein performed a screen of "High Combined Yield Stocks" in Europe for the final quarter of the year. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while BP is traded on the London Stock Exchange and Frankfurt Stock Exchange. BP is also traded on the New York Stock Exchange in the form of American depositary shares.
Persons: it's, AllianceBernstein, France's, Norway's, — CNBC's Michael Bloom Organizations: Tesco, BP, Oslo Stock Exchange, Nasdaq, London Stock Exchange, Frankfurt Stock Exchange, New York Stock Exchange, Systems, Deutsche Post Locations: Europe, Belgian, British, Swiss
UK's Secretary of State for Defence Grant Shapps said he plans to send British troops into Ukraine. He told the Telegraph he aims to get military training "closer and actually into" the country. Ukraine relies on international allies for training and equipment as Russia's invasion drags on. AdvertisementAdvertisementUK troops may deploy into Ukraine for the first time to train soldiers as on-the-ground training efforts ramp up between the war torn country and its international allies. AdvertisementAdvertisementIn addition to offering training on the ground in Ukraine, Shapps said British defense companies like BAE Systems are moving manufacturing into the country.
Persons: Defence Grant Shapps, , Grant Shapps, Shapps, I'm, We've, Volodymyr Zelenskyy Organizations: State, Defence, Service, State for Defence, The Telegraph, BAE Systems, British, Ukraine's Ministry of Defence, US, NATO, ABC News, NBC News, Pentagon Locations: Ukraine, UK's, Russia, Crimea –, Britain, Kyiv
"Ukraine is in such a phase of the defence marathon when it is very important, critical to go forward without retreating. Results from the frontline are needed daily," Zelenskiy told executives representing more than 250 Western weapons producers. Executives from weapons producers from over 30 countries attended the forum. Ukrainian officials see the development of domestic defence production as a boost to the economy, which has shrunk by about a third last year due to the war. Several leading Western producers like Germany's weapon production giant Rheinmetall and Britain-based BAE Systems have already announced plans to team up with Ukrainian producers.
Persons: Fabian Bimmer, Volodymyr Zelenskiy, Zelenskiy, Olena Harmash, William Maclean Organizations: Puma, Rheinmetall, REUTERS, Rights, BAE Systems, Foreign Ministry, U.S, Thomson Locations: Unterluess, Germany, Russia, Ukraine, Kyiv, Ukrainian, Britain, Czech, Turkish
Ukraine's President Volodymyr Zelenskiy welcomes British Defence Secretary Grant Shapps before a meeting, amid Russia's attack on Ukraine, in Kyiv, Ukraine, in this handout picture released September 28, 2023. Britain has provided five-week military training courses to around 20,000 Ukrainians over the past year, and intends to train a similar number going forward. In an interview with the Sunday Telegraph newspaper, Shapps said there was scope to offer military training within Ukraine after a discussion on Friday with British military chiefs. Shapps added that he hoped British defence companies such as BAE Systems (BAES.L) would proceed with plans to set up arms factories in Ukraine. Prime Minister Rishi Sunak made Shapps defence minister on Sept. 1, after the resignation of his predecessor Ben Wallace.
Persons: Volodymyr Zelenskiy, Grant Shapps, Shapps, Rishi Sunak, Ben Wallace, David Milliken, Daniel Wallis Organizations: British, Presidential Press Service, REUTERS, Sunday Telegraph, BAE Systems, Ukraine's, Russia, Thomson Locations: Ukraine, Kyiv, Britain, Russia, British
To date, Britain and its allies have avoided a formal military presence in Ukraine to reduce the risk of a direct conflict with Russia. Britain has provided five-week military training courses to around 20,000 Ukrainians over the past year, and intends to train a similar number going forward. In an interview with the Sunday Telegraph newspaper, Shapps said there was scope to offer military training within Ukraine after a discussion on Friday with British military chiefs. Shapps added that he hoped British defence companies such as BAE Systems would proceed with plans to set up arms factories in Ukraine. Prime Minister Rishi Sunak made Shapps defence minister on Sept. 1, after the resignation of his predecessor Ben Wallace.
Persons: Grant Shapps, Shapps, Volodymyr Zelenskiy, Rishi Sunak, Ben Wallace, David Milliken, Daniel Wallis Organizations: Sunday Telegraph, BAE Systems, Ukraine's, Russia Locations: Ukraine, Britain, Russia, British
[1/2] A model of a new fighter jet of the Global Combat Air Programme (GCAP) led by Britain, Japan, and Italy, is seen at the DSEI defence event in London, Britain, September 12, 2023. Reuters/Sarah Young/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - Japan, Britain and Italy plan to choose Britain as the headquarters for their next-generation fighter program, four sources in Japan said, putting London at the forefront of a partnership that could expand to include other nations. "Discussion about the headquarters is ongoing and we are unable to comment on the location," Japan's defence procurement agency said in an email. "No final decisions have been made on the locations and we will not comment on speculation," a spokesperson at Britain's defence ministry said. Officials at the Italian defence ministry were unavailable for comment.
Persons: Sarah Young, Leonardo, LDOF.MI, Richard Berthon, Britain's, Tim Kelly, Nobuhiro Kubo, Paul Sandle, Angelo Amante, Gerry Doyle Organizations: Global Combat Air, Reuters, Rights, London, United, United Arab Emirates, Combat, Britain's Ministry of Defence, BAE Systems PLC, Mitsubishi Heavy Industries, Mitsubishi Electric Corp, Royce PLC, Japan's IHI Corp, Thomson Locations: Britain, Japan, Italy, London, Saudi Arabia, United Arab, GCAP, European
Goldman Sachs partners are leaving — some 202 during David Solomon's five years as CEO by Insider's calculation. In particular, before Solomon, Goldman nurtured many fiefs and then spread the wealth from the most successful ones across the firm. Of the former Goldman executives that Insider interviewed, here are the most cited reasons they gave for leaving Goldman. When both men struggled, senior partners left, and Goldman stumbled in its efforts to wind down its balance-sheet investments. Goldman Sachs partners are paid well by any standard: $950,000 in base salary and often multiples of that in annual bonuses.
Persons: Goldman Sachs, David Solomon's, Solomon, Goldman, David Solomon, John Waldron, Goldman's, Adebayo Ogunlesi, Mike Mayo, Andrew Toth, Devin Ryan, Ryan, Waldron, Tony Fratto, Mike Blake, Eric Lane, Julian Salisbury, Lane, Luke Sarsfield, Sarsfield, Marc Nachmann, he's, Fratto, Stephanie Cohen, Cohen, Kathy Ruemmler, Charles Dharapak, Barack Obama's, Kenneth Lay, Jeffrey Skilling, Ruemmler, Unbeknown, Jeffrey Epstein, dealmaking, David S, Holloway, Mayo, David doesn't, GreenSky, Brendan McDermid, It's, Alison Mass, Hank Paulson, Russell Horwitz, David, it's, Emmalyse Brownstein Organizations: Wall, JPMorgan, Wells, Wells Fargo Securities, Investors, Goldman, AWM, Sarsfield, BAE Systems, Justice Department, Street Journal, Bloomberg, Employees, Partners, Federal Reserve, United Capital Financial Partners, Reuters, GreenSky Locations: New York, Wells Fargo, Salisbury, Manhattan, Texas, Plano, London, Paris, Chicago
Greece and Turkey both plan to roll out new stealth jets by the end of the decade. Greece is acquiring F-35s from the US, while Turkey is building the domestically designed TF Kaan. The TF KAAN at its presentation ceremony in Ankara on May 1. AdvertisementAdvertisementBohl said several factors could hinder timely production of the TF Kaan, including fiscal considerations, national spending priorities, and Ankara's foreign partnerships. Stealth jets over the AegeanAn F-16 with Greece's Zeus solo display team at an airshow in Pireus in November 2016.
Persons: Dhruv Gopinath, Pratt, Whitney, Ryan Bohl, RANE, Yavuz Ozden, Bohl, George Tzogopoulos, Tzogopoulos, Greece's, George Panagakis, Cuneyt Organizations: NATO, Service, US Air Force, Souda Air Base, Tech, Turkish Aerospace Industries, GE, East, TF, Hellenic Air Force, Turkish, BAE Systems, Stealth, Pacific Press, Getty, NATO Air Policing, Anadolu Agency, Ankara Locations: Greece, Turkey, Wall, Silicon, Dhruv Gopinath Athens, Ankara, North Africa, Turkish, Crete, Azerbaijan, Pakistan, Pireus, Athens, Malbork, Poland
LONDON (Reuters) - Britain's BAE Systems, Japan's Mitsubishi Heavy Industries, and Italy's Leonardo have agreed the next steps to deliver the concept phase of a next-generation combat aircraft, BAE Systems said on Tuesday. The three nations agreed in December 2022 to collaborate to build an advanced front-line fighter to enter service around the middle of the next decade. The new Global Combat Air Programme (GCAP) agreement will support discussions to set out working arrangements and capability requirements for the aircraft, BAE said. The three nations will update on the project's progress at London's DSEI international arms fair this week, BAE said. Britain's defence ministry had committed 2 billion pounds to the project, formerly known as Tempest, before Japan and Italy joined.
Persons: Italy's Leonardo, Herman Claesen, BAE's, GCAP, Sachin Ravikumar, Paul Sandle, Sarah Young Organizations: BAE Systems, Mitsubishi Heavy Industries, Global Combat Air, BAE, London's Locations: Italy, Japan
US-provided Bradley infantry fighting vehicles have proven to be valuable assets for the Ukrainians. Advertisement Advertisement Watch:Recent photos offer a look inside a Bradley operated by Ukraine's 47th Mechanized Brigade in the southeastern Zaporizhzhia region. Designed and manufactured by BAE Systems as a response to Soviet infantry fighting vehicles, the Bradley entered service in the 1980s. Photo by Ukrinform/NurPhoto via Getty ImagesGunner 'Molfar' is pictured inside the Bradley. Photo by Ukrinform/NurPhoto via Getty ImagesGunner 'Molfar' is seen inside the Bradley.
Persons: Bradleys, Bradley, Gunner, Molfar, Dmytro Smolienko, Pat Ryder, Biden, Stryker Organizations: Bradley, Service, Washington, Ukraine's 47th Mechanized Brigade, Magura Mechanized Brigade, Publishing, Getty, BAE Systems, Pentagon Press, Air Force, Russia Locations: Wall, Silicon, Ukraine, Soviet, Bradleys, Zaporizhzhia, Robotyne, Iraq, Orikhiv, Azov
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Sept 6 (Reuters) - The trustees of two BAE Systems (BAES.L) pensions schemes have appointed Goldman Sachs Asset Management to manage 23 billion pounds ($28.88 billion) in defined benefit pension scheme assets, the fund manager said on Wednesday. The mandate for BAE Systems Pension Scheme and BAE Systems Executive Pension Scheme is the largest outsourced chief investment officer appointment in Britain to date, GSAM said in a statement. Pension funds are looking at ways to cut costs by outsourcing parts of their business. ($1 = 0.7964 pounds)Reporting by Carolyn Cohn; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Goldman Sachs, Andrew Kelly, Goldman, GSAM, Carolyn Cohn, Jason Neely Organizations: New York Stock Exchange, REUTERS, BAE Systems, Management, Thomson Locations: New York City , New York, U.S, Britain
The Kremlin on Friday said it took a negative view of UK defense contractor BAE Systems ' decision to establish itself in Ukraine, and that any facilities producing weapons used against Russia would become targets for Moscow's military. Asked about the move in a call with reporters, Kremlin spokesman Dmitry Peskov said: "Of course, any facilities for the production of weapons, especially if these weapons fire at us, they become objects of special attention for our military." He said the move would not influence the course of the conflict in Ukraine, or contribute to a reduction of hostilities. BAE Systems, Britain's biggest defense company, said on Thursday it had set up a unit in Ukraine and signed deals with the government to boost Kyiv's supplies of weapons and equipment. It said the move would enable BAE to work directly with Kyiv to explore potential partners for a plan to ultimately produce 105mm light guns, a kind of artillery weapon, in Ukraine, and to better understand Ukraine's defense requirements.
Persons: Dmitry Peskov Organizations: BAE Systems, BAE Locations: Ukraine, Russia, Kyiv
Regional elections began in Russian-occupied began parts of Ukraine Thursday as authorities seek to cement Moscow's control of what it calls its "new territories." The voting, which runs until Sept. 10, is being held in Donetsk, Luhansk, Zaporizhzhia and Kherson, four Ukrainian regions claimed by Russia since its full-scale invasion. A Ukrainian official described the polling as a "sham." British defense company BAE Systems is establishing a local entity in Ukraine and has penned deals with its government to help ramp up supplies of weapons and equipment. Elsewhere, a Ukrainian drone attacked a town in western Russia, close to one of the country's biggest nuclear power stations, a Russian official said Friday.
Organizations: BAE Systems Locations: Russian, Ukraine, Donetsk, Luhansk, Zaporizhzhia, Kherson, Russia, Ukrainian
MOSCOW, Sept 1 (Reuters) - The Kremlin said on Friday it took a negative view of British defence contractor BAE Systems' (BAES.L) decision to establish itself in Ukraine, adding that any facilities producing weapons used against Russia would become targets for Moscow's military. The move would not influence the course of conflict in Ukraine, or contribute to a reduction of hostilities, he said. BAE Systems, Britain's biggest defence company, said on Thursday it had set up a unit in Ukraine and signed deals with the government to boost Kyiv's supplies of weapons and equipment. BAE has made much of the equipment provided to Ukraine by Britain and other governments as it fends off Russia's invasion. Western defence companies have been weighing opportunities to make weapons in Ukraine against the possible security risks, Reuters reported in June.
Persons: Dmitry Peskov, Felix Light, Kevin Liffey, Clarence Fernandez Organizations: BAE Systems, BAE, Reuters, Thomson Locations: MOSCOW, Ukraine, Russia, Kyiv, Britain
British defence firm BAE sets up Ukrainian base
  + stars: | 2023-08-31 | by ( ) www.reuters.com   time to read: +2 min
Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. As the UK's biggest defence contractor, BAE has manufactured much of the equipment that Britain and other governments have provided to Ukraine as it fends off Russia's invasion. Britain is a key defence supplier for Ukraine and in May became the first country to start supplying Kyiv with long-range cruise missiles. BAE, which has benefited from increased defence spending as a result of the conflict, is already providing training and repair services to Ukraine's armed forces. Western defence companies have been weighing opportunities to make weapons in Ukraine against the possible security risks, Reuters reported in June.
Persons: Toby Melville, Volodymyr Zelenskiy, Charles Woodburn, Zelenskiy, BAE's Woodburn, Muvija, Sarah Young, Sachin Ravikumar, Frances Kerry Organizations: BAE Systems, REUTERS, BAE, Reuters, Thomson Locations: Farnborough, Britain, Ukraine, Kyiv, Ukrainian, Sweden, Swedish
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
Cisco Systems (CSCO.O) gained 2.2% in premarket trading after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. Traders' bets of a rate hike pause from the Fed in September slipped to 86.5% from about 89% a week earlier, according to CME Group's Fedwatch tool. Walmart results follow stronger-than-expected earnings from Target (TGT.N) and Home Depot (HD.N) earlier this week, marking an upbeat second quarter for major U.S. retailers. ET, Dow e-minis were up 37 points, or 0.11%, S&P 500 e-minis were up 16 points, or 0.36%, and Nasdaq 100 e-minis were up 72.5 points, or 0.49%. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Thomas Martin, Oppenheimer, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Nvidia, Rosenblatt Securities, Walmart, Target, CVS Health Corp, Dow e, Ball Corp, BAE Systems, Thomson Locations: New York, U.S ., U.S, Bengaluru
BAE’s stratospheric space deal has sound logic
  + stars: | 2023-08-17 | by ( ) www.reuters.com   time to read: +2 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. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters Breakingviews) - BAE (BAES.L) is showing off its deep pockets. On Thursday, the $37 billion maker of war ships and armored vehicles said it will splurge over $5.5 billion in cash on Ball Corp’s (BALL.N) aerospace arm. BAE CEO Charles Woodburn beat off private equity bidders including Blackstone (BX.N) to seal the deal, which bulks up his exposure to civil and military space surveillance solutions. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Cheney Orr, Ball, Charles Woodburn, Woodburn, Woodburn’s pricey, Aimee Donnellan, EY’s loveless, Neil Unmack, Streisand Neto Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Reuters, BAE, Blackstone, Ball Aerospace, Twitter, TPG, Thomson Locations: Huntsville , Alabama, U.S
Ball Corp. agreed to sell its aerospace division to U.K. defense contractor BAE Systems for $5.6 billion in cash, the companies announced Thursday. The deal is expected to close in the first half of next year, pending regulatory approval. The aerospace unit of Colorado-based Ball, widely known for its beverage and household packaging products, deals in manufacturing spacecraft and specialized aerial systems. BAE noted that more than 60% of Ball's 5,200 or so aerospace employees hold U.S. security clearances. Ball began shopping around its aerospace division earlier this year, looking for a deal that would help trim its nearly $10 billion in debt.
Persons: Charles Woodburn, Ball Organizations: Aerospace, U.S . Space Force, Ball Corp, BAE Systems, NOAA, Pentagon, BAE, Ball Aerospace Locations: Colorado
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
Cisco Systems (CSCO.O) gained 4.6% after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. The S&P 500 health sector (.SPXHC), down 0.2%, was among the few major sectors in the red. Advancing issues outnumbered decliners by a 1.91-to-1 ratio on the NYSE and by a 1.16-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 12 new lows, while the Nasdaq recorded 11 new highs and 95 new lows. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Dow, Thomas Martin, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Walmart, Target, CVS Health Corp, . Energy, Dow Jones, Ball Corp, BAE Systems, NYSE, Thomson Locations: New York, U.S ., U.S, Bengaluru
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