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Dow Jones stocks: United Technologies earnings topped views amid Boeing 737 Max headwinds and ahead of its planned Raytheon merger. 3M earnings missed.
Raytheon Company (NYSE: RTN) will help the U.S. Air Force modernize its missile warning architecture with a new system that will collect and fuse data from an array of sensors to provide a comprehensive picture of launch activity under a 5-year, $197 million contract.
With each of Raytheon's (RTN) segments reflecting favorable top-line outlook for the fourth quarter, we are optimistic about its overall revenue performance.
Raytheon Company (NYSE: RTN) was awarded a $403M System Demonstration Test Articles contract with the U.S. Navy for Next Generation Jammer Mid-Band. The SDTA pods will be delivered to the fleet once developmental and operational testing is complete.
United Technologies beat Wall Street estimates. The outlook for aerospace remains strong, but the 737 MAX remains a headwind for all aerospace suppliers.
United Technologies (NYSE: UTX) reported fourth-quarter earnings of $1.94 per share on Tuesday, which beat the analyst consensus estimate of $1.84 by 5.43%. The company reported quarterly sales of $19.6 billion, which beat the analyst consensus estimate of $19.37 billion by 1.19%. "Operational separation activities for Otis and Carrier are substantially complete, and we are executing the final steps required to spin both businesses as independent companies early in the second quarter," said UTC Chairman and Chief Executive Officer Gregory Hayes.
United Technologies will have a busy 2020 with spinoff and merger transactions to complete. The company reports its fourth-quarter earnings on Tuesday.
Aerospace and equipment maker United Technologies reports fourth-quarter and full-year earnings that beat analysts' forecasts, though warns of headwinds from Boeing's 737 MAX grounding.
Amid an already red-hot M&A; environment, companies are evaluating which units are core to their overall businesses.
Zacks.com featured highlights include: SYNNEX, Dollar General, Booz Allen Hamilton, Morgan Stanley and Raytheon
The former top U.S. military official, General Joseph Dunford, has been elected to the board of Lockheed Martin Corp, the Pentagon's largest weapons supplier, the company said on Friday. Dunford, who served as Chairman of the Joint Chiefs of Staff from 2015 to 2019, will join the board of the F-35 fighter jet maker on Feb. 10. Critics of U.S. military spending have long complained of a revolving door between Pentagon leadership and the defense industry.
Raytheon (RTN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
BAE Systems Inc. will acquire business units from both Raytheon Corp. (NYSE: RTN) of Waltham, Massachusetts, and United Technologies Corp. (NYSE: UTX) of Farmington, Connecticut, as a way to help the latter two meet the antitrust requirements of their impending merger. The Arlington company reached agreements to acquire the GPS business of UTC subsidiary Collins Aerospace as well as Raytheon’s Airborne Tactical Radios business, according to a press release.
Defense contractor BAE Systems was the best-performing U.K. large-cap company on Monday after announcing plans to buy two different companies that need to be divested for the merger between Raytheon and United Technologies to complete.
Raytheon's (RTN) Dual Band Radar is the first radar system in the U.S. Navy fleet, capable of simultaneously operating two frequency ranges (S-band and X-band).
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BAE Systems Plc snapped up more than $2 billion in U.S. defense-technology assets that Raytheon Inc. and United Technologies Corp. were forced to sell in order to gain antitrust approval for their merger.Europe’s biggest defense firm will buy the military global positioning system arm of UTC’s Collins Aerospace unit for $1.93 billion, together with Raytheon’s airborne tactical radios operation at a cost of $275 million, it said Monday.The assets came to market following regulatory scrutiny of the Raytheon-UTC merger and the acquisitions are subject to successful closure of that deal, according to a statement from London-based BAE, which said both businesses are focused on areas of highest-priority U.S. defense spending.“It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available,” BAE Chief Executive Officer Charles Woodburn said in the release, adding that they’ll be folded into the group’s electronics-systems sector.BAE shares rose as much as 3.4% and were trading 2.9% higher at 642.60 pence as of 8:31 a.m. in London. The stock is already up 14% this year following a 23% gain in 2019.The Collins GPS unit is based in Cedar Rapids, Iowa, employs about 675 people and is expected to post adjusted earnings of $127 million on $359m in sales this year, BAE said. The Raytheon radios operation has 100 staff at facilities in Indiana and Florida, with sales of around $125 million last year.To contact the reporter on this story: Christopher Jasper in London at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Andrew Noël, Tara PatelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The defense-and-security company said that it will pay $1.93 billion for Collins Aerospace’ GPS business and $275 million for Raytheon Co.’s (RTN) radio business.
UK defence group BAE Systems is paying $1.93bn in cash for the military global positioning business of US engineer Collins Aerospace, in its biggest acquisition in more than a decade. The GPS business makes military receiver systems and its products are used on hundreds of US defence platforms, including the two highest-volume weapons programmes for the US Air-Force, BAE said on Monday. last year of Raytheon and United Technologies, with regulators requiring the two groups to divest assets.
British defence company BAE Systems said it was buying two businesses for $2.2 billion to help grow in Electronic Systems, picking up units which had become available as a result of the merger of U.S. rivals Raytheon and United Technologies. BAE said on Monday that it had entered into an agreement to buy Collins Aerospace's Military Global Positioning System for $1.925 billion in cash, and a separate agreement for Raytheon's Airborne Tactical Radios business for $275 million. "Completion of both acquisitions are subject to successful closure of the Raytheon-United Technologies Corporation (UTC) merger, as well as customary regulatory approvals and conditions," the company said in a statement.