Defense Companies Rebound

Thursday, April 20, 2000
Defense companies, which have suffered mightily on the stock markets of late, took a sharp upturn, led by General Dynamics Corp., which posted strong earnings last Wednesday and was upgraded by brokerage SG Cowen Thursday. Shares of General Dynamics, builder of the Seawolf submarine and M-1 tank, as well as Gulfstream corporate jets, gained as much as 5-1/8 in morning trading on the New York Stock Exchange, before settling back to 55-3/4, up 3-3/4. Exchange. A spate of aerospace- and defense-related companies posted earnings that mostly beat Wall Street expectations Wednesday, including commercial aircraft and defense giant Boeing Co. and United Technologies Corp., which makes engines and helicopters, but also elevators and air conditioning systems. Shares of Raytheon, which reported earnings Wednesday that met lowered expectations amid the sale of a money-losing unit, gained 1-1/8, to 20-13/16. Lockheed, which has restructured, cut costs and put units up for sale as it strives to return to earnings growth, gained 1-1/8 to 22. Morgan Stanley Dean Witter analysts Heidi Wood raised her rating on Boeing Thursday to strong buy from outperform, citing a possible upturn in deliveries, rising cash flow, and better-than-expected earnings. Boeing shares gained 1-9/16, to 38-3/4. Shares of Northrop Grumman Corp., which like Lockheed is set to report earnings next week, gained 2-1/4, to 66-1/8. Litton Industries gained 3/4, to 41-3/16, and Newport News, another combat-ship maker, gained 3/4, to 31-3/16.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Arctic Offshore Rig Gets USCG Escort

U.S. Coast Guard (USCG) crews escorted heavy lift ship Blue Marlin as it toted a controversial 38,000-metric-ton drilling rig into Port Angeles, Wash., Friday. Blue Marlin,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1068 sec (9 req/sec)