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MOSCOW, Aug 3- A businessman and associate of Vladimir Putin said he cannot use his luxury jet because of U.S. sanctions over the crisis in Ukraine, a Russian news agency reported. Gennady Timchenko, a major shareholder in Russia's No.2 gas producer Novatek, told Itar-Tass that Gulfstream Aerospace Corp. had withdrawn technical support for his jet.
Private prison companies Geo Group and competitor Corrections Corporation of America, for example, stand to gain if Congress approves any emergency funding for family detention facilities.
Global conflicts are going to sustain defense spending by governments, which will benefit defense contractors, one analyst said.
*General Dynamics, Northrop beat profit estimates. *General Dynamics reports higher aerospace orders. July 23- U.S. weapons makers General Dynamics Corp and Northrop Grumman Corp raised their 2014 profit forecasts as cost cutting allowed them to improve profitability even as defense spending by the U.S. government remained low.
Some of Wednesday's midday movers:
Whirlpool missed profit and revenue expectations by a wide margin, and cut their full year forecast.
U.S. stock index futures signaled a flat-to-higher start to trade on Wednesday, with earnings due early from Boeing and PepsiCo.
July 23- General Dynamics Corp, maker of Gulfstream jets, tanks and U.S. Navy ships, reported a better-than-expected quarterly profit, as lower operating costs boosted margins. General Dynamics' shares rose 2.9 percent before the bell. General Dynamics said its total potential contract value, the sum of all backlog components, rose 29 percent to $99.5 billion.
July 23- General Dynamics Corp, maker of Gulfstream jets, tanks and U.S. Navy ships, reported a 15.5 percent fall in quarterly income as it took a charge of $105 million related to the sale of a business. The company's net income fell to $541 million, or $1.58 per share, in the second quarter ended June 29, from $640 million, or $1.81 per share, a year earlier.
BERLIN, July 23- For lawmaker Jan van Aken, little symbolizes more potently all that he finds indefensible about Germany's arms exports than the German and French-made anti-tank missile that he was shown in northern Syria. From its serial number, he believes the 1970 s MILAN rocket was sold legitimately by France to then Syrian leader Hafez al-Assad.
*U.S. players include Gogo, Honeywell, Golden Eagle. LONDON, July 22- The web-connected aircraft cabins of the future, powered by technology on show at last week's Farnborough Airshow, are offering a path to investor returns through suppliers like Cobham Plc and Thales SA.
Even as traders monitor the world's hot spots, corporate earnings news could be a positive for stocks in the week ahead.
High-tech business formation is happening in those states funneling dollars to R&D. Here's a look at states on the forefront of change.
*U.S. Navy names General Dynamics, Lockheed units "superior suppliers". WASHINGTON, June 13- The U.S. Navy on Friday named units of top arms makers General Dynamics, Lockheed Martin Corp and Raytheon Co as part of its list of the top-performing nine suppliers for 2014 based on their performance over the last three years.
WASHINGTON, June 10- The U.S. government is revamping proposals for a multibillion-dollar modernization of Saudi Arabia's navy after leadership changes in the kingdom, but no decisions are expected in the near-term, industry and government officials said this week.
*China business jet sales to top $65 bln over 20 years. Now the supplier of private aircraft for the Ferrari motor racing team is looking into a new joint venture far from home- manufacturing in China.
The "Fast Money" traders share their final trades of the day.
It's Frank Kendall's job to write checks for programs that will shape U.S. defense forces for the next quarter century.
Steven Dennis says it's time for the company to "stop the charade and embrace the inevitable."
These companies have been shrinking either due to dropping demand, evaporating pricing power or by reducing their size.