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The Department of Defense’s priorities for the next five years call for protected and prioritized investments in weapon technology and new capabilities.
Lockheed (LMT) will provide engineering and other support services for all versions of the U.S. Army's H-60 Black Hawk helicopters.
lost wind on Wednesday, tumbling in premarket trading after the company reported fiscal fourth-quarter earnings that were below analysts' forecasts. AeroVironment said it earned $5.7 million, or 24 cents a share, vs. $16.8 million, or 70 cents a share, in the comparable year-ago period. For the full year, AeroVironment posted net income of $47.4 million, or $1.74 a share, compared to $17.9 million, or 91 cents a share, in 2018.
Mercury (MRCY) secures new follow-on orders to meet the growing requirement for mission critical components for the U.S. military's electronic warfare test and training program.
Acting U.S. Defense Secretary Mark Esper warned his Turkish counterpart on Wednesday that Ankara's purchase of Russia's S-400 air defense system would not only end Turkey's role in the F-35 fighter jet program, it would also hurt the Turkish economy due to ensuing U.S. sanctions, a senior U.S. official said. "The secretary was very firm, once again, that Turkey will not have both the S-400 and the F-35.
Hacked by suspected Chinese cyber spies five times from 2014 to 2017, security staff at Swedish telecoms equipment giant Ericsson had taken to naming their response efforts after different types of wine. After successfully repelling a wave of attacks a year earlier, Ericsson discovered the intruders were back. Teams of hackers connected to the Chinese Ministry of State Security had penetrated HPE’s cloud computing service and used it as a launch pad to attack customers, plundering reams of corporate and government secrets for years in what U.S. prosecutors say was an effort to boost Chinese economic interests.
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AeroVironment (AVAV) delivered earnings and revenue surprises of 4.00% and 4.90%, respectively, for the quarter ended April 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of AeroVironment Inc. fell more than 13% in the extended session Tuesday after the defense and aerospace company reported fiscal fourth-quarter profit below Wall Street expectations. AeroVironment said it earned $5.7 million, or 24 cents a share, compared with $16.8 million, or 70 cents a share, in the year-ago period. Revenue fell 23% to $88 million, the company said, mostly on a decrease of product sales. Analysts polled by FactSet had expected the company to report EPS of 28 cents on sales of $82 million.
Moody's Investors Service ("Moody's") has changed the outlook for Booz Allen Hamilton Inc.'s ("BAH" or the "company") ratings to positive from stable and affirmed all ratings for the company, including the Ba2 Corporate Family Rating (CFR). The positive outlook reflects BAH's well established position within defense and federal service contracting and a successful new business development program. Over the past three years BAH's revenue grew about $1 billion or almost 20% on an organic basis, a favorable rate compared to its peers.
The Missiles and Fire Control division of Lockheed Martin won a lucrative $561.8 million contract from the U.S. government for missile production.
Accenture's (ACN) third-quarter fiscal 2019 results are likely to reflect strength across the majority of its segments and strong operating performance.
The bipartisan budget agreement encouraging several federal bodies to increase their spending is driving contract win rates of industry players.
A SpaceX launch early Tuesday saw the Falcon Heavy carrying Air Force payloads for the first time, on its way to eventually putting satellites in multiple orbits.
(Bloomberg) -- Norway’s $1 trillion wealth fund revoked its more than decade-long exclusion on Walmart Inc. after the U.S. retailer tightened control over potential human rights abuses in its supply chain.Walmart has made “positive developments” in monitoring its suppliers, the fund’s Council on Ethics said in a statement released Tuesday.“Furthermore, the company engages actively in selected, high-risk areas in order to help bring about improvements in working conditions,” the council said in a letter. “There seem to be fewer reports of poor working conditions in Walmart’s supply chain now than there were before.”The fund also decided to revoke exclusions to Grupo Carso SAB de CV, General Dynamics Corp., Nutrien Ltd., Rio Tinto Ltd. and Rio Tinto Plc, as well as Wal-Mart de Mexico SAB de CV, according to a statement.General Dynamics was let in from the cold after discontinuing the production of cluster munitions while Grupo Carso is no longer involved in tobacco, according to the fund. The exclusion of Nutrien was revoked after it ceased purchases from Western Sahara and Rio Tinto was taken off the list after it agreed to sell its Grasberg mine in Indonesia, reducing the risk of “severe environmental damage.”Norway’s sovereign wealth fund, the world’s largest, takes into account ethical rules encompassing human rights, some weapons production, corruption, the environment, coal and tobacco when deciding on its investments.Runar Malkenes, a spokesman at Norway’s central bank, said the recommendations to revoke the exclusions were made over time, but the bank found it “appropriate” to publish all seven decisions at the same time. It’s part of the council’s mandate to regularly reassess exclusions, he said in an email. To contact the reporter on this story: Sveinung Sleire in Oslo at firstname.lastname@example.orgTo contact the editor responsible for this story: Jonas Bergman at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Norway's $1 trillion wealth fund can invest again in miner Rio Tinto and retailer Walmart after their exclusions from the fund's investments on ethical grounds were revoked, the board of the central bank said on Tuesday. The issue was Rio Tinto's stake in the mine, which according to the Norwegian finance ministry at the time, discharged very large amounts of tailings directly into a natural river system.