Defense Contractors
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Warnings of massive job layoffs and another recession were all the talk when sequestration began in March. But so far the impact of government cutbacks seems a lot less than was predicted.
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While $46 billion in mandatory budget cuts worry the Pentagon, the administration sees a potential benefit. The NYT reports.
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WASHINGTON, March 9- Retrofits of F-35 fighter planes to fix problems found in flight testing will likely top $1.7 billion, a U.S. government watchdog said in the draft of a new report about the Pentagon's Joint Strike Fighter program. The F-35 is an advanced "fifth generation" fighter meant to serve the U.S. Air Force, Navy and Marines for decades to come.
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March 8- Beechcraft Corp said on Friday it will formally protest the U.S. Air Force's decision to award a $428 million contract for light attack planes for the Afghan military to Brazil's Embraer SA.
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Of the Dow 30 companies, only Boeing and United Technologies are strongly in defense, but they're hardly pure plays, reports CNBC's Jane Wells.
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*Brazil to spend $3.95 billion to build French submarines. BRASILIA, March 1- Brazil advanced on Friday toward its target of joining the small club of nations that have nuclear-powered submarines with the opening of a naval shipyard installation that will build French-designed submarines.
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BRASILIA, March 1- Brazil took a major step on Friday toward joining the small club of nations that have nuclear-powered submarines with the opening of a naval shipyard installation that will build French-designed submarines.
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NEWPORT NEWS, Va., Feb 26- President Barack Obama took his case for softening the effect of deep budget cuts to a shipyard town dependent on defense contracting on Tuesday, but there was little sign he will be able to halt automatic cuts from starting this week.
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Cai Von Rumohr, Cowen and Company analyst, talks about what investors should consider before buying stock in the defense sector.
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WASHINGTON, Feb 20- Lockheed Martin Aeronautics has been awarded a 10- year contract worth up to $6.9 billion to modernize the Air Force's fleet of radar-evading F-22 Raptor jet fighters, the Pentagon said on Wednesday.
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ABU DHABI, Feb 18- The United Arab Emirates has signed defence contracts worth 5.2 billion dirhams, including one for unmanned aerial drones, a spokesman for the country's military said on Monday. The UAE awarded the contract to purchase the drones to a local company, International Golden Group, which will buy them from the U.S. firm.
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WASHINGTON, Feb 13- The Pentagon and the U.S. Navy have lifted flight restrictions on the Marine Corps version of the F-35 fighter jet, clearing the way for testing and training flights to resume after a nearly month-long grounding, according to Colonel Kevin Killea, who oversees aviation requirements for the Marine Corps.
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*Air Force may have to renegotiate $52 bln Boeing tanker deal.
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WASHINGTON, Feb 6- The U.S. Air Force will have to curtail its orders for Lockheed Martin Corp's F-35 fighter jet, restructure a $52 billion tanker contract with Boeing Co and reduce its flying hours by 18 percent if lawmakers do not avert impending across-the-board spending cuts, the service told Congress on Wednesday.
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CNBC's Rick Santelli talks with Bill Frezza, Huffington Post columnist, about why Republicans should back a plan to cut defense spending.
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Defense shares have continued to be positive going into earnings season (Boeing aside due to 787 problems), even though most analysts believe earnings will be lower than a year ago.
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*Army project to lay groundwork for bigger Pentagon program. WASHINGTON, Jan 18- Boeing Co and Sikorsky Aircraft, a unit of United Technologies Corp, said they were teaming up to develop a next-generation multi-role helicopter for the U.S. military.
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WASHINGTON, Jan 18- Boeing Co and Sikorsky Aircraft, a unit of United Technologies Corp, have reached a strategic teaming agreement to develop a next-generation multi-role helicopter for the U.S. military, according to sources briefed on the matter.
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WASHINGTON, Jan 17- The U.S. Air Force is moving ahead with plans to change its approach to national security satellites, including greater use of government sensors on commercial satellites and possible launches of cheaper, less-complex satellites for other missions, a top Air Force general said on Thursday.
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The FAA has grounded all Boeing 787 Dreamliners, but the stock is making a comeback today after yesterday's drop, reports CNBC's Phil LeBeau.
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Boeing is not planning to change its 787 production schedule despite recent problems, reports CNBC's Phil LeBeau. Ken Herbert, aerospace analyst at Imperial Capital, weighs in.