Author: Nathan Gomes
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Northrop pegs full-year sales, earnings at lower end of guidance
By Mike Stone and Nathan Gomes (Reuters) – U.S. defense contractor Northrop Grumman Corp on Thursday said it expected full-year sales and profit to be near the lower end of its forecast amid lingering supply chain snags and higher costs that have weighed on earnings throughout the industry. The company’s shares were flat versus Wednesday…
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General Dynamics beats on profit, helped by business jets and marine
By Nathan Gomes and Allison Lampert (Reuters) -Gulfstream business jet maker General Dynamics Corp on Wednesday reported a third-quarter profit above analysts’ estimates, fueled by strong demand for flying private and for products and services at its Marine Systems division. The group benefited from demand for private jets in the United States and other regions,…
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Raytheon quarterly revenue climbs on aerospace demand
By Mike Stone and Nathan Gomes (Reuters) – Aerospace supplier Raytheon Technologies Corp on Tuesday posted a near 5% rise in third-quarter revenue as air travel demand buoyed parts and services sales, though lingering supply chain issues spurred the company to trim its 2022 sales outlook. Raytheon, whose customers include Boeing Co and Airbus SE,…
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JetBlue defends bid for Spirit as analysts question merit
By Rajesh Kumar Singh and Nathan Gomes (Reuters) -JetBlue Airways Corp on Wednesday mounted a vigorous defense of its unsolicited $3.6 billion bid to acquire ultra-low-cost carrier Spirit Airlines, saying the company is “highly confident” of securing regulatory approval for the deal. The New York-based carrier on Tuesday surprised Wall Street with a $33 per…
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General Dynamics misses revenue estimates, beats profit on higher aerospace sales
By Nathan Gomes and Mike Stone (Reuters) -General Dynamics Corp on Wednesday had a mixed quarter as the defense giant missed analyst revenue estimates but beat their fourth-quarter profit estimates, helped by strong growth in its aerospace unit, even as supply chain bottlenecks and labor chain shortages lingered. Shares were down 1% in pre-market trading…
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Raytheon sales forecast disappoints as profit beats estimates
By Nathan Gomes and Mike Stone (Reuters) -Raytheon Technologies Corp on Tuesday forecast full-year sales below Wall Street estimates, even as demand for the company’s aerospace products and services benefited from a surge in air travel during the holiday season. Raytheon forecast full-year sales for 2022 to be in the range of $68.5 billion to…
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Raytheon raises profit forecast on commercial aero demand
By Nathan Gomes and Mike Stone (Reuters) -Raytheon Technologies Corp raised its forecast for full-year adjusted profit on Tuesday, as rising commercial air travel boosted demand for the aerospace and defense firm’s engines, spare parts and aftermarket services. But in an interview with CNBC Raytheon’s Chief Executive Greg Hayes warned the U.S. aerospace and defense…