The Zacks Analyst Blog Highlights: Northrop Grumman, Lockheed Martin, United Technologies, L-3 Communications Holdings and General Dynamics
CHICAGO, June 11, 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 Northrop Grumman Corp. (NYSE:NOC-Free Report), Lockheed Martin Corp. (NYSE:LMT-Free Report), United Technologies Corp. (NYSE:UTX-Free Report), L-3 Communications Holdings Inc. (NYSE:LLL-Free Report) andGeneral Dynamics Corp. (NYSE:GD-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
Combating the ongoing sequester, almost all major defense companies reported in the green over the last five trading days. Big defense firms have been able to grab big ticket programs from the U.S. Department of Defense (DoD) while Foreign Military Sales (FMS) still remained its key tool.
Among the important updates in the past one week, Los Angeles-based defense contractor Northrop Grumman Corp. (NYSE:NOC-Free Report) turned out to be the clear winner, securing a $9.9 billion contract from the Pentagon. The #1 contractor – Lockheed Martin Corp. (NYSE:LMT-Free Report) – proved yet again its dominance, securing a nice mix of big and small contracts from the DoD funding list (see the last recap here: Defense Stock Roundup for June 3, 2014).
Recap of the Week's Most Important Stories
1. The most significant award went to Northrop Grumman, builder of the B-2 Spirit bomber, better known as the B-2 Stealth Bomber. The company received a mega contract, worth $9.9 billion, from the U.S. Air Force to offer modernization and support services to the B-2 stealth bomber program (read more: Northrop Clinches $9.9B DoD Contract).
2. Lockheed Martin, in a deal valued at $1.9 billion, delivered an F-16 fighter jet to Iraq, the first of 36 that the country ordered over 2011 and 2012. Production is expected to continue through 2017. The contract also includes mission equipment and support package to be delivered by Lockheed Martin and other U.S. and international contractors. Iraq joins 27 other nations around the world in utilizing the F-16 Fighting Falcon. This program celebrates its 40th year of evolution with deliveries over 4,540 F-16 aircraft made to date.
3. The Pentagon has cleared a contract, worth $452.0 million, for Lockheed Martin Space Systems Co. to provide reentry system/reentry vehicles (RS/RV) subsystem support as well as procure MMIII RS/RV subsystem and related support equipment. In a contract modification worth $134.2 million, Lockheed will provide highly specialized services related to Ballistic Missile Defense System flight tests at several contractor-owned facilities and government test sites (read more: Lockheed in Contract Winning Spree)
4. Again, Lockheed Martin Aeronautics Company, a key Lockheed division, received a modification contract worth $122.1 million from the DoD for the procurement of initial aircraft spares for the F-35 Lightning II Joint Strike Fighter aircraft (read more: Lockheed Wins F-35 Procurement Contract).
5. Diversified conglomerate United Technologies Corp.'s (NYSE:UTX-Free Report) two business units – Pratt & Whitney and Sikorsky Aircraft – also made it to last week's headlines. Pratt & Whitney won a contract modification that calls for maintenance of Low-Rate Initial Production Lot VIII F135 propulsion systems, which are the engines powering the in-vogue F-35 fighter jets (read more: UTX Wins Federal Contracts).
Performance
Shares of all defense biggies were in the green in the past one week. The biggest gainer L-3 Communications Holdings Inc. (NYSE:LLL-Free Report) rose 4.40% over the time frame. In the past 6 months, General Dynamics Corp. (NYSE:GD-Free Report) has led the way.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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