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Jan 24 (Reuters) - U.S. weapons maker Lockheed Martin Corp (LMT.N) on Tuesday forecast annual profit below Street expectations, hurt by lingering supply bottlenecks and higher costs, though a generous defense budget helped it beat fourth-quarter estimates. The defense contractor said it expected a profit of $26.60 to $26.90 per share in 2023. Lockheed forecast 2023 revenue between $65 billion and $66 billion, compared with market estimates of $65.74 billion. Bethesda, Maryland-based Lockheed Martin posted adjusted net income of $7.79 per share for the three months ended Dec. 31, compared with analysts' estimate of $7.39 per share. It reported fourth-quarter net sales of $18.99 billion, above expectations of $18.27 billion.

☆ 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.

However, Congress in its last session in December didn’t reach an agreement, and finance chiefs say they hope the topic will be revisited. “That’s a 20 percentage point increase in tax for Yelp, so obviously very meaningful for us,” Mr. Schwarzbach said. The higher costs due to the law change will factor into investment decisions going forward, Mr. Schwarzbach said. The tax change has an impact on the company’s net income, Mr. Schwarzbach said. The San Francisco-based company reported R&D expenses of $75.8 million for the quarter ended Sept. 30, compared with $69.4 million a year earlier.

☆ 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.

☆ 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.

☆ Biden says Bradley Fighting Vehicles are on the table for Ukraine
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

[1/4] U.S. Bradley fighting vehicles that will be deployed in Latvia for NATO's Operation Atlantic Resolve wait for an unload in Garkalne, Latvia February 8, 2017. REUTERS/Ints Kalnins/File PhotoHEBRON, Kentucky, Jan 4 (Reuters) - U.S. President Joe Biden on Wednesday said that sending Bradley Fighting Vehicles to Ukraine was being considered to help the that country fight Russia's invasion. The United States has sent about $21.3 billion in security assistance to Kyiv as Europe's biggest land conflict since 1945 grinds on, killing tens of thousands. As the war progressed and Ukraine's needs changed, more complex weapons systems, including High Mobility Artillery Rocket Systems (HIMARS) and National Advanced Surface-to-Air Missile Systems (NASAMS)d, were shipped to Kiyv. Most recently, the United States pledged to send a Patriot missile system to repel Russian missile and drone attacks.

☆ Explainer: What is the Patriot missile defense system?
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +4 min

[1/2] Patriot missile defence system is seen at Sliac Airport, in Sliac, near Zvolen, Slovakia, May 6, 2022. Here's what you need to know about the Patriot:WHAT IS THE PATRIOT SYSTEM? The Patriot, which stands for Phased Array Tracking Radar for Intercept on Target, is a theater-wide surface-to-air missile defense system built by Raytheon Technologies Corp (RTX.N) and considered one of the most advanced air defense systems in the U.S. arsenal. So far, the United States has provided a pair of National Advanced Surface-to-Air Missile Systems (NASAMS) to Ukraine. Russia has said the Patriot missile defense system would be a legitimate target for Russian strikes.

Dec 17 (Reuters) - L3Harris Technologies Inc (LHX.N) is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), 10 months after the latter's $4.4 billion sale to Lockheed Martin Corp (LMT.N) fell through, people familiar with the matter said on Saturday. L3Harris is a defense contractor that is mostly a competitor rather than a customer of Aerojet. Aerojet's solid fuel rocket motors and other propulsion systems would help L3Harris expand its space defense systems and precision munitions businesses. Spokespeople for Aerojet, L3Harris and General Electric did not immediately respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

Dec 9 (Reuters) - U.S. President Joe Biden on Friday authorized fresh $275 million in military aid for Ukraine offering new capabilities to defeat drones and strengthen air defenses, according to a memo released by the White House. But details were scant on two systems, "counter air defense capability" and "Counter-Unmanned Aerial Systems equipment," which appear to be new capabilities for Ukraine. To counter these attacks, the United States has sent sophisticated anti-aircraft NASAMS systems to Ukraine which have been running for a few weeks. Washington previously announced that it was sending four Avenger short-range air defense systems that use Stinger missiles, made by Raytheon Technologies Corp (RTX.N), and HAWK interceptor missiles. U.S. allies have also been sending air defense systems.

☆ U.S. to send Ukraine anti-drone, air defense aid worth $275 million
▼ + stars: | 2022-12-08 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

Details of the anti-drone and air defense equipment included could not be determined. Details of the anti-drone and air defense equipment included could not be determined. Washington previously announced it was sending four Avenger short-range air defense systems that use Stinger missiles, made by Raytheon Technologies Corp (RTX.N), and HAWK interceptor missiles. U.S. allies have also been sending air defense systems. U.S. allies have also been sending air defense systems.

Nov 30 (Reuters) - Industrial conglomerate General Electric Co (GE.N) and defense contractor L3Harris Technologies Inc (LHX.N) are among those competing to acquire rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), according to people familiar with the matter. Aircraft producer Textron Inc (TXT.N) and private equity firm Veritas Capital are also vying to acquire El Segundo, California-based Aerojet, which has a market value of about $4 billion, the sources said. Aerojet has been running a process to sell itself after its $4.4 billion sale to Lockheed Martin Corp (LMT.N) was thwarted by antitrust regulators in February, Reuters has previously reported. Spokespeople for Aerojet, General Electric, Textron and Veritas Capital did not respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

☆ Raytheon sees castings shortages spilling into next year amid aftermarket demand
▼ + stars: | 2022-11-08 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +2 min

Supply shortages have crippled aerospace's ability to meet a snapback in demand for travel. The supply of castings has been singled out as problematic by aerospace executives as manufacturing them is a labor-intensive process and it takes time to train new hires. Shortages are now prompting Raytheon to choose between making new engines and servicing old ones. TRAVEL DEMAND A 'WATCH ITEM'Raytheon, whose Pratt & Whitney engines power all of Airbus' A220 jets and about half of the A320neo aircraft, said it had not seen any signs of travel demand, which has turbocharged the industry's recovery, subsiding. However, he added travel demand remains a "watch item", amid recessionary fears.

☆ U.S. CFOs Ask Congress to Repeal Change to R&D Tax Rules
▼ + stars: | 2022-11-07 | by ( Jennifer Williams-Alvarez | In A Letter Finance Chiefs On The Change To R D Deductibility Tax Rules. | ) www.wsj.com time to read: +8 min

For decades, businesses were allowed to deduct certain R&D expenses straight away to reduce their taxable income. Tax deductions are subtractions from taxable income while tax credits get subtracted from the amount of tax owed. Over the course of this year, companies have been making estimated tax payments that incorporate the R&D change, tax attorneys said. On the agenda: Agreeing on funding the government to avoid a shutdown, aid for Ukraine, alongside potential changes to the treatment of R&D expenses. When it comes to a potential repeal or deferral related to R&D deductibility, timing is crucial, said Shelby Ford, a tax partner at Crowe LLP, a public accounting, consulting and technology firm.

☆ 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.

☆ CFOs Detail Plans to Manage Inflation, Shifts in Consumer Demand
▼ + stars: | 2022-10-28 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Ian Borden, McDonald’s CFO Photo: McDonald'sThere are really a couple of drivers for this year that resulted in that adjusted outlook. I think what I would say, coming into the role, is certainly it’s an area that I’m going to be focused on. But so far, we’ve seen [a] continued strong impact on our recommendations products from advancing developments in our AI work. We do expect that to be considerably higher than what we’ve seen in the past, reflecting the inflation that we’re dealing with across the business. When we talk about the impact of inflation, it is not just a domestic impact, it’s international as well.

☆ Pentagon successfully flight tests hypersonic weapon components
▼ + stars: | 2022-10-26 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

[1/2] The U.S. Department of Defense launches a sounding rocket from NASA's launch range at Wallops Flight Facility carrying hypersonic weapon experiments that will inform the development of the hypersonic class of weapons, on Wallops Island, Virginia, U.S., October 26, 2022. Wednesday's test was intended to validate future aspects of the Navy's Conventional Prompt Strike (CPS) and the Army's Long Range Hypersonic Weapon (LRHW). Glide bodies are different from their air-breathing hypersonic weapon cousins, which use scramjet engine technology and the vehicle's high speed to forcibly compress incoming air before combustion to enable sustained flight at hypersonic speeds. Companies such as Lockheed Martin Corp and Raytheon Technologies Corp are working to develop U.S. hypersonic weapon capability. Reporting by Mike Stone on Wallops Island, Virginia; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St extends rally on signs of ebbing Fed rate hikes
▼ + stars: | 2022-10-25 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 has reclaimed nearly 8% from the trough of its Oct. 12 close. Among the 11 major sectors of the S&P 500, all but energy (.SPNY) were green, with real estate stocks (.SPLRCR) enjoying the largest percentage gain. Third-quarter reporting season is firing all pistons, with 129 of the companies in the S&P 500 having reported. Analysts have set the bar low; aggregate S&P 500 earnings growth is now seen landing at 3.3% year-on-year, down from 4.5% at the beginning of the month, per Refinitiv. The S&P 500 posted 12 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 65 new highs and 108 new lows.

The tech-heavy Nasdaq (.IXIC) jumped more than 2% in the session as the 10-year Treasury yield hit the day's low of 4.05% before bouncing slightly. 3M (MMM.N), on the other hand, fell 0.4% as it cut its full-year revenue and profit forecasts due to a stronger dollar. Advancing issues outnumbered decliners by a 5.56-to-1 ratio on the NYSE and by a 4.32-to-1 ratio on the Nasdaq. The S&P index recorded 12 new 52-week highs and one new low, while the Nasdaq recorded 61 new highs and 101 new lows. Reporting by Amruta Khandekar and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Earnings from the companies will offer a glimpse into how corporate America is holding up in the face of decades-high inflation and tighter financial conditions. "There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. FEDWATCHToggle's Sette noted that it is not yet a done deal that investors are shifting towards a more dovish Fed. Advancing issues outnumbered decliners by a 5.16-to-1 ratio on the NYSE and by a 4.03-to-1 ratio on the Nasdaq. The S&P index recorded 10 new 52-week highs and one new low, while the Nasdaq recorded 41 new highs and 76 new lows.

Earnings reports from companies including Microsoft (MSFT.O) and Google-owner Alphabet (GOOGL.O) will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle. Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading. Register now for FREE unlimited access to Reuters.com Register"There is a positive view (on technology earnings)," said Giuseppe Sette, president of AI investment platform Toggle. Leading premarket gains among Dow components, Coca-Cola Co (KO.N) rose 2.4% after the company raised its annual revenue and profit forecasts, banking on steady demand amid price increases. 3M (MMM.N), on the other hand, fell 2.8% as it cut its full-year revenue and profit forecasts due to a stronger dollar.

Oct 25 (Reuters) - Aerospace supplier Raytheon Technologies Corp (RTX.N) on Tuesday posted a near 5% rise in its third-quarter revenue, as strong air travel demand allowed the company to sell more engines, parts and services. Register now for FREE unlimited access to Reuters.com RegisterBut on the upside, demand for aftermarket sales and services has risen at Pratt & Whitney and Raytheon's avionics and parts unit Collins Aerospace, as planes are forced to use existing fleet for longer. In the third quarter, both Collins Aerospace and Pratt & Whitney recorded double-digit sales. "We note, Raytheon (Pratt and Collins) and Safran intend to implement substantial price increases in Q4 – likely above 10% – for commercial aftermarket parts and services. However, supply chain constraints was a drag on the company's missiles and defense unit, where sales fell 6%.

☆ EXCLUSIVE Rocket maker Aerojet solicits acquisition offers -sources
▼ + stars: | 2022-10-25 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

Aerojet, which is providing propulsion engines for NASA's Artemis 1 moon rocket, is working with advisers on an auction process and asked for indications of acquisition interest earlier this month, the sources said. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N). Activist hedge fund Elliott Investment Management disclosed it had accumulated a 3.7% stake in Aerojet in August. Aerojet Chief Executive Eileen Drake said in September that "low to mid-single-digit" sales growth was most probable for the company this year.

WASHINGTON, Oct 14 (Reuters) - The Biden administration's next security assistance package for Ukraine is expected to include munitions and vehicles but not significant new capabilities or counter-air defenses, two U.S. officials briefed on the $725 million package told Reuters on Friday. The package, that could come as soon as Friday, is the first aid package since Russia's barrage of rocket attacks on civilian population centers in Ukraine in recent days. The officials, speaking on the condition of anonymity, said that the timing of the announcement of the weapons package as well as its contents and value could change until the last minute. The munitions and vehicles will be sent using Presidential Drawdown Authority (PDA) allowing them to be shipped to Ukraine in the coming days. The latest package would bring a total of more than $17.5 billion worth of U.S. security assistance since Russia invaded Ukraine on Feb. 24.

☆ Raytheon wins $985 mln Pentagon hypersonic weapon contract
▼ + stars: | 2022-09-22 | by ( Mike Stone | ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Pentagon is seen from the air in Washington, U.S., March 3, 2022, more than a week after Russia invaded Ukraine. The award is a significant advance in the development of hypersonic weapons for the U.S., and puts Raytheon in an early lead for a series of related contract awards in the years ahead. Hypersonic weapons travel in the upper atmosphere at speeds of more than five times the speed of sound, or about 6,200 kilometers (3,853 miles) per hour. read moreThe hypersonic attack cruise missile (HACM) is an air launched hypersonic weapon that was developed in cooperation with the Australian government. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mike Stone in Washington Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Futures flat as investors gird for another big rate hike
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 13, 2022. REUTERS/Andrew KellySummarySummary Companies Futures: Dow, S&P flat, Nasdaq down 0.11%Sept 21 (Reuters) - U.S. stock index futures paused on Wednesday as investors braced for a hefty interest rate hike from the Federal Reserve for a third straight time. The focus will be on economic projections, which is expected to offer insight into how aggressively policymakers feel interest rates must rise to tame stubbornly high prices. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 0.5 points, or 0.01%, and Nasdaq 100 e-minis were down 12.75 points, or 0.11%. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Medha Singh in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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