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Fly News Breaks for February 28, 2017
GD, RTN, BA, NOC, LMT
Feb 28, 2017 | 10:54 EDT
Evercore said President Trump's budget will not be submitted to Congress for a couple of weeks and investors should understand that any president's budget submission is inherently a political document and Congress is not bound to follow it; and that this Congress will not follow it. The firm's analyst expects a continuation of modest increases in both defense and nondefense discretionary spending agreed to on a bipartisan basis over the past four years, with any increase in defense spending likely to be small and matched by similar small increases in nondefense spending.
News For LMT;NOC;BA;RTN;GD From the Last 2 Days
GD
Mar 29, 2024 | 10:55 EDT
Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics, announced the all-new Gulfstream G700 has received Federal Aviation Administration type certification, paving the way for customer deliveries. The G700's FAA certification also confirmed two new performance improvements: a balanced field length takeoff distance of 5,995 feet/1,827 meters and a landing distance of 3,150 ft/960 m, both shorter than originally anticipated.
GD
Mar 28, 2024 | 15:01 EDT
General Dynamics Information Technology, a business unit of General Dynamics, announced that it was awarded a $922M contract to modernize the U.S. Central Command's enterprise IT infrastructure. The new contract, awarded in February by the General Services Administration, has a one-year base period and five option years. Under this contract, GDIT will operationalize enterprise data through artificial intelligence/machine learning technologies to improve decision-making, transition CENTCOM to a new cloud environment, and enhance the effectiveness and efficiency of its networks. The company will also leverage its zero trust capabilities to bolster CENTCOM's cyber defenses and protect against future cyber threats.
LMT
Mar 28, 2024 | 08:01 EDT
Notable profits for the buyer who lifted the $8.78 offer for 2,600 Lockheed (LMT) Jul-24 475 calls yesterday at 15:35ET when underlying shares were trading at $454.75. Shares closed at $456.78, and the calls at $9.47 for a mark-to-market profit of 8%, or $180K, on the $2282K outlay.
BA
Mar 28, 2024 | 06:35 EDT
Citi lowered the firm's price target on Boeing to $252 from $263 and keeps a Buy rating on the shares. The analyst says the fundamental outlook for commercial aerospace and Boeing has not changed as demand for new aircraft remains robust and there are only two major competitors that can fulfill it. While Boeing has stumbled on execution, this is not a permanent state, the analyst tells investors in a research note. Once fixed, Boeing's balance sheet repair will be the focus, as it should be, says Citi. The firm, however, sees no quick fix, and believes patience is required.
LMT
Mar 27, 2024 | 17:34 EDT
Lockheed Martin was awarded a $439.89M firm-fixed-price modification to a previously awarded cost-plus-fixed-fee, cost-plus-incentive-fee, firm-fixed-price, and fixed-price-incentive-fee, indefinite-delivery/indefinite-quantity contract. This modification exercises options to provide support equipment, pilot flight equipment, and post ejection survival training material, as well as associated administrative, contract management, planning and readiness reviews and non-recurring introduction to service support in support of site activation and initial sustainment activities for the F-35A, F-35B and F-35C aircraft for the Air Force, Marine Corps, Navy, non-Department of Defense participants, and Foreign Military Sales customers. Work is expected to be completed in December 2029. No funds will be obligated at the time of award; funds will be obligated on individual orders as they are issued. Naval Air Systems Command is the contracting activity.