XPO Logistics selected by Electrolux to provide logistics in France » 07:1106/2206/22/21
XPO Logistics has been…
XPO Logistics has been awarded a multiyear contract by Electrolux Logistics to manage its logistics operations in France. The agreement marks the start of Electrolux's outsourcing strategy for distribution to its trade customers in France, after previously managing these channels in-house from its distribution center in Marly-la-Ville. XPO is managing the logistics activities at the site using technology-enabled solutions integrated on its proprietary warehouse management platform. Approximately 90% of the inventory is comprised of refrigerators, washing machines and other large products, with the remainder being smaller appliances and parts. All logistics processes - receipt of goods, storage, tracking and order preparation - have been customized by XPO to deliver greater efficiencies for Electrolux. The two companies will also partner on Electrolux's upcoming launch of its direct-to-consumer e-commerce site this year. XPO will provide this additional fulfilment from the same 58,000-square-meter distribution center in Marly-la-Ville, which is staffed in part by 46 colleagues who transferred from Electrolux Logistics.
Lockheed Martin awarded $472.47M Navy contract modification » 17:1606/2106/21/21
Lockheed Martin awarded a…
Lockheed Martin awarded a not-to-exceed $472.47M undefinitized contract modification to a previously awarded cost-plus-incentive-fee contract. This modification adds scope to further develop and integrate three unique weapons capabilities through system functional review to development test complete on the F-35A and F-35B aircraft for the governments of the United Kingdom and Italy. Work is expected to be completed in March 2026. Non-Department of Defense participant funds in the amount of $116.46M will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.
Old Dominion resumed with a Hold at Stifel » 16:4206/2106/21/21
Stifel analyst Bruce Chan…
Stifel analyst Bruce Chan resumed coverage of Old Dominion with a Hold rating and $236 price target as part of a broader research note on the Less-than-Truckload industry. The group is currently experiencing a multi-decade renaissance thanks to the strong cyclical demand recovery, a disciplined competitive marketplace with high barriers to entry, and secular tailwinds from structural changes in supply chains, but the valuations on the group "fairly reflects" the industry's strong outlook, the analyst tells investors in a research note.
Lockheed's F-35 has best performance in Swiss jet evaluation, Reuters says » 12:2506/2106/21/21
LMT, EADSY, DASTY
Lockheed Martin's (LMT) F-35-A Lightning II had the best showcase in a Swiss evaluation of what fighter aircraft to purchase next, although the final political decision remains open, Reuters' Michael Shields reports, citing Swiss broadcaster SRF. The Swiss government is set to decide this month among the Eurofighter from Airbus (EADSY) the Rafale from Dassault (DASTY), or the jet from Lockheed, the author notes. Reference Link
Huntington Ingalls announces international order for REMUS 300 UUVs » 08:0306/2106/21/21
Huntington Ingalls Industries announced that the Royal New Zealand Navy has placed the first international order for four REMUS 300 unmanned underwater vehicles. New Zealand has a fleet of six REMUS 100 UUVs that are used for mine countermeasures and underwater survey operations. The Royal New Zealand Navy has also used its REMUS vehicles for search and recovery, including locating the wreck of the Princess Ashika ferry in 2009 and assisting with the White Island volcano search effort in 2019.
LA Metro selects Parsons for I-10 express lane project » 07:3906/2106/21/21
Parsons Corporation announced that the company has been selected by the Los Angeles County Metropolitan Transportation Authority to provide full engineering services in preparing environmental reporting and concept of operations for 17 miles of express lanes on Interstate 10. The $23.5M contract builds on Parsons' relationship with LA Metro while helping improve transportation in the Los Angeles region. The 17-mile express lane segment project will connect two existing segments, completing a continuous 64-mile express lane corridor along I-10 from Alameda Street to Ford Street. As part of the contract, Parsons will also assist LA Metro in determining the appropriate delivery method for the next phase of the project.
XPO Logistics price target raised to $183 from $158 at Wells Fargo » 06:3006/1806/18/21
Wells Fargo analyst…
Wells Fargo analyst Allison Poliniak-Cusic raised the firm's price target on XPO Logistics to $183 from $158 and keeps an Overweight rating on the shares. Consolidation among the carriers, which has resulted in improved pricing discipline this cycle coupled with the firm's view of an industrial recovery into 2022, positions the LTL sector favorably, and those dynamics should have a positive impact on tonnage growth, pricing dynamics, and return metrics such as the evolution of FCF and ROIC, Poliniak-Cusic tells investors in a research note
XPO Logistics price target raised to $180 from $160 at Barclays » 05:4306/1806/18/21
Barclays analyst Brandon…
Barclays analyst Brandon Oglenski raised the firm's price target on XPO Logistics to $180 from $160 and keeps an Overweight rating on the shares. The analyst says the spin of GXO is likely to drive value for XPO shareholders.
Triumph selected by Lockheed to support F-35 sustainment at MCAS Cherry Point » 17:0806/1706/17/21
Triumph Group (TGI)…
Triumph Group (TGI) announced that its Actuation Products & Services operating company will provide hydraulic utility actuation valves to Lockheed Martin (LMT) to support F-35 fleet readiness at the Marine Corps Air Station Cherry Point. The Clemmons, North Carolina based Triumph facility will provide engineering and material support for the program over the next five years, bolstering the company's efforts to grow defense contract programs. Triumph has provided original equipment and aftermarket HUAV parts for the F-35 program since 2014. The company began working with Lockheed Martin to provide HUAV aftermarket parts for military depot operations last year. The engineering and logistics agreement in support of sustainment efforts at the MCAS Cherry Point will further showcase Triumph's technical capability in high demand depot settings. "We are excited to expand our support of the F-35 program and support MCAS Cherry Point and the U.S. fighters who expect and demand fleet readiness," said Scott Ledbetter, President of Triumph Actuation Product & Services operating company. "Our Clemmons team will provide exceptional service to Lockheed Martin and their Marine Corps customers over the next five years. We look forward to expanding our relationship with Lockheed Martin to support future depot opportunities."
Unusually active option classes on open June 17th » 09:4006/1706/17/21
HDSN, LU, PHM, NNOX, SBSW, RLX, MUX, IYR, BFLY
Unusual total active…
Unusual total active option classes on open include: Hudson Technologies (HDSN), Lufax Holdings (LU), ProShares UltraPro Short Russell 2000 (SRTY), PulteGroup (PHM), Nano X Imaging (NNOX), Sibanye Stillwater (SBSW), RLX Technology (RLX), McEwen Mining (MUX), iShares DJ US Real Estate Index Fund (IYR), and Butterfly Network (BFLY).