The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Citi Private Bank says it has maintained an "overweight" stance on stocks in China, Hong Kong, Taiwan and South Korea.Asia Marketsread more
Stocks in Asia slipped on Tuesday, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen later in the...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
Baird just raised its share forecast for Raytheon by 25 percent on growing optimism over its future missile defense sales in light of rising tensions with North Korea.
"We are raising the price target of Raytheon … reflecting the significant programs wins both domestically and internationally for missile defense and missile systems that puts Raytheon in position for favorable organic growth in 2018 and beyond," Baird analyst Peter Arment wrote in a note to clients Thursday.
Arment reiterated his outperform rating and increased his price target for Raytheon shares to $212 from $170, representing 18 percent upside from Wednesday's close.
Defense stocks surged to all-time highs Wednesday.
Arment said 42 percent of Raytheon's contract backlog is from international customers — the highest percentage among industry peers. He said the company's missile defense systems such as Patriots, THAADs and radars are a "major driver" of its sales to 80 countries.
Raytheon is a subcontractor of the Terminal High Altitude Defense missile defense system, which is built along with Lockheed Martin. The system is deployed in South Korea and on Guam, where the U.S. has major military bases.
"We attended a Raytheon management-hosted investor event last night that reiterated this theme of large program franchises being refreshed or just commencing for both the DoD and international customers," Arment wrote.
Many of the large defense stocks have already rallied based on expectations for an improved outlook for U.S. defense spending under the Trump administration.
The SPDR S&P Aerospace and Defense ETF is up 28 percent since the Nov. 8 election through Wednesday compared with the S&P 500's 16 percent return during the period.
The White House has proposed a nearly 10 percent increase in the military budget to $603 billion for fiscal 2018.
"This budget will be a public safety and national security budget," Trump said on Feb. 27. He called for a "historic increase in defense spending to rebuild the depleted military of the United States of America at a time we most need it."