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☆ 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.

☆ Want to invest in companies that empower women? Here's what you need to know
▼ + stars: | 2023-03-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Known as gender lens or gender equity investing, the idea is to invest for financial return, while promoting gender diversity. Yet those funds represent less than 0.01% of total equity fund assets in the United States, according to the firm. Her women CEO and CFO clients were getting tremendous results, she said. In January, the asset management firm launched the Hypatia Women CEO exchange-traded fund (WCEO). Women in leadership matters, but we need a more robust scorecard to assess gender equity.

☆ 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.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Snowflake, Salesforce, Nio, Nvidia & more
▼ + stars: | 2023-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan downgrades Nio to neutral from overweight JPMorgan said it sees too many challenges after the Nio's earnings report on Wednesday. JPMorgan downgrades Dollar Tree to neutral from overweight JPMorgan said it sees too many macro headwinds for the discount retailer. Morgan Stanley upgrades Pinduoduo to overweight from equal weight Morgan Stanley said the ag-tech company is a "long-term growth story." Morgan Stanley reiterates Liberty Formula One as overweight Morgan Stanley said it's bullish on shares of the auto racing company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said competitors can't keep up after Tesla's investor day on Wednesday.

The potential sale includes High Mobility Artillery Rocket Systems (HIMARS), which Kyiv has praised for their battlefield successes such as destroying Russian warehouses and command posts. The package includes 18 HIMARS launchers, 45 of the 185-mile (297-km) range Army Tactical Missile System (ATACMS) missiles and more than 1,000 Guided Multiple Rocket Launch System (GMLRS) rockets. The Pentagon's Defense Security Cooperation Agency notified Congress of the potential sale on Tuesday. In May, Poland requested an additional 500 HIMARS launchers from the United States, but, according to Polish media, Lockheed Martin Corp (LMT.N) said it was possible to offer around 200. In October, Poland signed an agreement to buy 288 Chunmoo rocket launchers from South Korea.

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.

☆ Europe Inc earnings offer market optimists more hope
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

Shares in ASML were lower after the results, having rallied recently to hit their highest since last April. Helped by strong orders in Europe, French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales. While it is still early in the corporate earnings season, the results offer some hope that recent economic data which has buoyed equities this month is grounded in reality. Swiss asset manager GAM (GAMH.S) meanwhile warned on profits after experiencing negative asset flows, knocking its shares 2.5% lower in early morning trading. ($1 = 0.8115 pounds)Reporting by Reuters newsroom; Writing by Josephine Mason; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ 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.

☆ U.S. Senate passes record $858 billion defense act, sending bill to Biden
▼ + stars: | 2022-12-16 | by ( Patricia Zengerle | ) www.reuters.com time to read: +3 min

REUTERS/Joshua Roberts/File PhotoWASHINGTON, Dec 15 (Reuters) - The U.S. Senate passed legislation on Thursday authorizing a record $858 billion in annual defense spending, $45 billion more than proposed by President Joe Biden, and rescinding the military's COVID vaccine mandate. Senators supported the National Defense Authorization Act, or NDAA, an annual must-pass bill setting policy for the Pentagon, by an overwhelming 83-11 bipartisan majority. AID FOR TAIWAN, UKRAINE AND JUDGESBecause it is one of the few major bills that always passes, lawmakers use the NDAA as a vehicle for a range of initiatives. A bid to amend the bill to award back pay and reinstate troops who refused the vaccine failed. A bill to fund the government through Sept. 30, 2023, - the end of the fiscal year - is expected to pass Congress next week.

☆ Finding low volatility stocks that generate income for what's likely to be another tumultuous year
▼ + stars: | 2022-12-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

With 2023 expected to be another rocky year for the stock market, investors may find shelter in low volatility names that produce income. JPMorgan is expecting the S & P 500 to retest this year's lows and Morgan Stanley strategist Mike Wilson believes earnings will shrink 15% to 20% next year. They also have a dividend yield greater than 2% and at least 60% of the analysts covering them rate the stocks a buy, according to FactSet. The companies are all the S & P 1500 and have at least 5 analysts covering them. Some 74% of analysts covering the stock give it a buy rating.

☆ Jim Cramer's top 10 things to watch in the market Thursday: War cloud, Salesforce downgrade, GameStop quarter
▼ + stars: | 2022-12-08 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Pioneer Natural Resources (PXD) price target lower to $260 per share from $290 at KeyBanc. Citi rates Boeing (BA) a buy rating and a $222-per-share price target. Wells Fargo raises Boeing's PT to $218 from $185; keeps overweight (buy) rating. UBS increases PT on Toll Brothers to $65 from $61; keeps buy rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ U.S. House overwhelmingly approves bill backing record military spending
▼ + stars: | 2022-12-08 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

"This bill is Congress exercising its authority to authorize and do oversight," said Representative Adam Smith, the Democratic chairman of the House Armed Services Committee, in a speech urging support for the measure. This year's bill - the result of months of negotiations between Democrats and Republicans in the House and Senate - needed a two-thirds majority in the House after disagreement from some House members over whether it should include an amendment on voting rights. The Senate is expected to pass the NDAA next week, sending it to the White House for President Joe Biden to sign into law. Authorization bills create programs but Congress must pass appropriations bills to give the government legal authority to spend federal money. Congressional leaders have not yet agreed on an appropriations bill for next year.

WASHINGTON, Dec 6 (Reuters) - The U.S. State Department has approved a potential sale of 116 General Dynamics (GD.N) made M1A1 Abrams tanks, other vehicles and munitions to Poland in a deal valued at up to $3.75 billion, the Pentagon said on Tuesday. The sale comes just months after Poland was authorized to buy 250 M1A2 tanks by the same maker. The package would include vehicles to recover disabled tanks, eight assault bridges and other vehicles. It would also provide thousands of rounds of advanced munitions including armor-piercing rounds, spares and technical support, the Pentagon said. Despite approval by the State Department, the notification does not indicate that a contract has been signed or that negotiations have concluded.

☆ 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.

☆ General Dynamics quarterly profit rises by 5%
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Gulfstream jet maker General Dynamics Corp (GD.N) on Wednesday reported an about 5% rise in its third-quarter profit, fueled by strong demand for chartered flights. Demand for private flights, which boomed during the pandemic, remained strong in the quarter as wealthier passengers opted to fly private. The company delivered 35 Gulfstream business jets in the quarter, compared with 31 jets a year earlier. Its book-to-bill ratio was 1.15 times compared with 1.57 times a year ago. Sales in its aerospace unit rose to $2.35 billion from $2.07 billion a year earlier, while overall revenue rose to $9.98 billion from $9.57 billion.

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