CHICAGO, Oct. 29, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Lockheed Martin Corp. (NYSE:LMT-Free Report), Boeing Co. (NYSE:BA-Free Report), General Dynamics Corp. (NYSE:GD-Free Report), Northrop Grumman Corp. (NYSE:NOC-Free Report) and Raytheon Co. (NYSE:RTN-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday's Analyst Blog:
Defense Stock Roundup
Over the last five trading sessions, Q3 earnings releases of the major defense companies grabbed most of the limelight. Shares of the top defense contractors experienced a boost as third-quarter results showed continued growth in earnings and operating margins. Although the defense contractors witnessed lower revenues in the quarter due to a slowdown in federal spending, the picture was overall reassuring, particularly on the guidance front.
(Read Defense Stock Roundup for Oct 21, 2014 for a recap.)
IraqUpdate
Tensions escalated in Iraq over the weekend as the U.S. and its allies conducted as many as 22 airstrikes against Islamic State (IS) forces in Iraq and one in Syria over Friday and Saturday. This marked the most intense action for a 24-hour stretch since the Pentagon started airstrikes against the militant group in August. The U.S. military forces carried out airstrikes near the Mosul dam, the city of Fallujah and the northern city of Bayji.
The U.S. Central Command has picked a name for its continued engagement against the Islamic State as "Inherent Resolve." The name suggests the U.S administration and its partner nations' resolve and commitment to eliminate the terrorist forces in Iraq and Syria. This could only mean good news for the defense and aerospace industries, which have already cashed in on the lingering crisis.
Recap of the Week's Most Important Stories
1. Pentagon's No. 1 weapon supplier, Lockheed Martin Corp. (NYSE:LMT-Free Report), posted forecast-beating earnings in spite of lower-than-expected revenues in the third quarter. The company's shares were trading almost 2% higher at $176.01 on Oct 22 after falling as much as 5% the previous day following the release. Lockheed Martin revised its 2014 revenue and earnings guidance to the higher end of its previous projections. However, Lockheed expects 2015 revenues to decrease by a low single-digit percentage range over 2014 (read more: Lockheed Martin Pulls Off Q3 Earnings Beat, Revenues Dip).
Lockheed Martin has nabbed a $4 billion contract from the Pentagon to develop the eighth batch comprising 43 units of F-35 fighter jets for the U.S. military and its allies, including Britain.
The company also secured a $486.5 million modification contract from the U.S. Air Force. The modification provides the company with the right to exercise an option year to provide services related to F-22 sustainment activities.
2. The Boeing Co. (NYSE:BA-Free Report) delivered a nearly 19% jump in third-quarter profit, backed by robust commercial deliveries and improved profitability in its defense sector. The company also raised its full-year earnings forecast.
3. General Dynamics Corp. (NYSE:GD-Free Report) reported higher third-quarter earnings, backed by improved operating margins. It also raised its 2014 earnings forecast by 25 cents a share on the expectation of a modest increase in revenue, higher operating earnings in three of the company's four divisions and on a lower tax rate.
4. Northrop Grumman Corp. (NYSE:NOC-Free Report) reported higher-than-expected third-quarter earnings and increased its earnings outlook despite a drop in revenues. Northrop's Aerospace unit was the only one to deliver higher sales in the quarter (read more: Northrop Grumman Beats Q3 Earnings & Revenue Estimates).
5. The world's largest missile maker Raytheon Co. (NYSE:RTN-Free Report) reported weak third-quarter results with earnings missing the Street expectation by 2.5%. Earnings also decreased 1.9% year over year mainly due to lower revenue generation. Yet, the company experienced robust demand for its products, particularly from foreign customers and raised its 2014 outlook (read more: Raytheon Earnings Disappoint on Lower Revenues, View Up).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Get the full Report on LMT - FREE
Get the full Report on BA - FREE
Get the full Report on GD - FREE
Get the full Report on NOC - FREE
Get the full Report on RTN - FREE
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
[email protected]
http://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Logo - http://photos.prnewswire.com/prnh/20101027/ZIRLOGO
SOURCE Zacks Investment Research, Inc.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article