CHICAGO, April 27, 2011 /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: Raytheon Company (NYSE: RTN), General Dynamics Corporation (NYSE: GD), The Boeing Company (NYSE: BA), Lockheed Martin Corporation (NYSE: LMT) and Northrop Grumman Corporation (NYSE: NOC).
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Here are highlights from Tuesday's Analyst Blog:
Raytheon Wins Air Force Contract
Defense contractor Raytheon Company (NYSE: RTN) announced that its Raytheon
Technical Services Company unit received a contract worth $65 million for
the U.S. Air Force Cobra Dane radar systems.
The unit has already started work on the contract from April 1, 2011, and
the service contract can continue till December 31, 2015 if all options
are exercised by the parties. As per the contract, Raytheon's unit will
look after the maintenance, radar sustainment and systems engineering, in
addition to providing integrated logistic support.
The Cobra Dane system, commissioned in 1977, provides support to the Air
Force and Missile Defense Agency. The AN/FPS-108 Cobra Dane was originally
built by Raytheon and modernized by Raytheon's Integrated Defense Systems
Recently, the Raytheon Technical Services Company unit entered into an
alliance with General Dynamics Corporation (NYSE: GD), ASRC Aerospace
Corporation, ARES Corporation, Schafer Corporation and World Technical
Services Incorporated (WTSI) to pursue the U.S. Air Force Range
Raytheon had reported sales of $25.2 billion in fiscal 2010, and the
company expects 2011 revenue between $25.5 billion and $26.3 billion,
surpassing 2010 levels. The company expects adjusted earnings per share
for 2011 to be $5.50 to $5.65. The Zacks Consensus Estimate for 2011 is
presently $5.00 per share.
Raytheon currently retains a Zacks #2 Rank (short-term 'Buy' rating). We
presently maintain a Neutral rating on the stock over the long term. Major
peers of the company include The Boeing Company (NYSE: BA), Lockheed Martin
Corporation (NYSE: LMT) and Northrop Grumman Corporation (NYSE: NOC).
Based in Waltham, Massachusetts, Raytheon Company, along with its
subsidiaries, provides electronics, mission systems integration, and other
capabilities in the areas of sensing, effects, and command, control,
communications, and intelligence systems, as well as mission support
services to its global customers.
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