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Fly News Breaks for January 29, 2020
BA, RTN, UTX
Jan 29, 2020 | 08:13 EDT
Argus analyst John Eade raised his price target on United Technologies (UTX) to $170 and kept his Buy rating after its Q4 earnings beat. The analyst notes that the company should get a boost from increased defense spending in the near term and also benefit from expanding middle class in the developing markets over the longer term, though he sees its exposure to Boeing's (BA) 737 MAX production as a challenge. Eade adds that earnings should benefit from the Rockwell Collins acquisition and the planned Raytheon (RTN) merger over the medium term.
News For UTX;RTN;BA From the Last 2 Days
BA
Oct 28, 2020 | 08:59 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
BA
Oct 28, 2020 | 07:34 EDT
"The global pandemic continued to add pressure to our business this quarter, and we're aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term," said Boeing President and CEO Dave Calhoun. "Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities. I'm proud of the dedication and commitment our teams have demonstrated as they continued to deliver for our customers in this challenging environment. Despite the near-term headwinds, we remain confident in our long term future and are focused on sustaining critical investments in our business and the meaningful actions we are taking to strengthen our safety culture, improve transparency and rebuild trust." Following the lead of global regulators, Boeing made steady progress toward the safe return to service of the 737 MAX, including rigorous certification and validation flights conducted by the U.S. Federal Aviation Administration, Transport Canada and the European Union Aviation Safety Agency. The Joint Operational Evaluation Board, featuring civil aviation authorities from the United States, Canada, Brazil, and the European Union, also conducted its evaluations of updated crew training. The 737 MAX has now completed around 1,400 test and check flights and more than 3,000 flight hours as it progresses through the robust and comprehensive certification process. To adapt to the market impacts of COVID-19 and position the company for the future, Boeing continued its business transformation across five key areas including its infrastructure footprint, overhead and organizational structure, portfolio and investment mix, supply chain health and operational excellence. As the company resizes its operations to align with market realities, Boeing expects to continue lowering overall staffing levels through natural attrition as well as voluntary and involuntary workforce reductions, and recorded additional severance costs in the third quarter.
BA
Oct 28, 2020 | 07:32 EDT
Reflecting lower commercial deliveries and services volume primarily due to COVID-19, as well as timing of receipts and expenditures.
BA
Oct 27, 2020 | 14:51 EDT
Boeing (BA) is scheduled to report results of its fiscal third quarter before the market opens on Wednesday, October 28, with a conference call scheduled for 10:30 am ET. What to watch... To see the rest of the story go to thefly.com. See Story Here
BA
Oct 27, 2020 | 13:34 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Mastercard (MA), consensus $1.66... UPS (UPS), consensus $1.86... Boeing (BA), consensus ($2.32)... Anthem (ANTM), consensus $4.15... General Electric (GE), consensus (4c)... ADP (ADP), consensus 98c... Norfolk Southern (NSC), consensus $2.38... Boston Scientific (BSX), consensus 25c... General Dynamics (GD), consensus $2.86... Masco (MAS), consensus 77c... Hess Corp. (HES), consensus (56c)... Dynatrace (DT), consensus 10c... Sealed Air (SEE), consensus 66c... Brinker (EAT), consensus (19c)... Six Flags (SIX), consensus ($1).