FRANKFURT, Germany— Plane maker Airbus Group SE said Friday its net profit rose 5 percent in the second quarter to 732 million euros despite a one-time charge stemming from the crash of one of its military transport planes in Spain. Airbus CEO Tom Enders said the company was on track to achieve its earnings forecast for the year amid healthy demand for commercial...» Read More
The Chicago-based company tweaked its 767 design to improve fuel efficiency, among other factors, in hopes of beating rival Northrop Grumman.
Northrop Grumman and its Franco-German partner EADS will bid against Boeing in a $40 billion U.S. competition for new aerial refueling tankers, Northrop announced today.
Defense company Lockheed Martin cruised past quarterly profit and sales targets, and the company also boosted its profit forecast for the current year.
The company, which makes Abrams tanks and Stryker combat vehicles for the U.S. Army as well as Gulfstream jets, reported net profit of $408 million, or $1 a share, compared with $406 million, or $1 a share, a year earlier.
The U.S. government spent some $30 billion on the defense in 2006--and that helped make stocks in the sector quite valuable to investors. As we look into 2007, the question about how defense stocks will do this year was a topic on "Morning Call" (we had viewer email submissions). The question may be even more important as the Democrats take control of Congress.
The F-35's safe first flight is an important step toward full production of the $276.5 billion fighter project, which Lockheed Martin is developing.
The Iraq Study Group will bring its long awaited recommendations to President Bush on Wednesday--but it remains to be seen just how closely the Bush administration will adhere to its proposals. On CNBC’s “Power Lunch” --Bill Griffeth discussed the group with Michael Duffy, Time magazine’s Washington Bureau Chief and John Harwood--CNBC Chief Washington Correspondent.
Lockheed Martin shares hit an all-time high on reports of new aircraft orders from the U.S. Air Force.