News

January 31, 2018
 

News Briefs – January 31, 2018

U.S. says Russian jet flew within 5 feet of U.S. Navy plane

The United States is accusing Moscow of unsafe military practices after it says a Russian jet flew within five feet of a U.S. Navy plane over the Black Sea.
The State Department says the incident occurred Jan. 29 when a Russian Su-27 jet crossed directly in front of the flight path of the American jet in international airspace. State Department spokeswoman Heather Nauert says the United States views it with “the highest level of concern.”
Nauert says Russia’s military “flagrantly” violated international law and risked a midair collision. She calls it “the latest example of Russian military activities disregarding international norms and agreements.”
The United States has raised concerns several times over the last year about midair encounters between U.S. and Russian planes, including above the Black Sea and Baltic Sea. AP
 

Pentagon reviewing military use of exercise trackers

The Pentagon is doing a broad review of how military forces use exercise trackers and other wearable electronic devices, in the wake of revelations that an interactive, online map can pinpoint troop locations, bases and other sensitive areas around the world.
Army Col. Rob Manning, a Pentagon spokesman, said Jan. 29 that the review will determine if there should be additional training or restrictions on the use of the devices, such as Fitbits.
The Global Heat Map, published by the GPS tracking company Strava, uses satellite information to map the locations of subscribers to Strava’s fitness service. The map shows activity from 2015 through September 2017.
Heavily populated areas are well lit, but warzones such as Iraq and Syria show scattered pockets of activity that could be caused by military or government personnel using fitness trackers as they move around. Those electronic signals could potentially identify military bases or other secure locations.
The Global Heat Map was posted online in November 2017, but the information it contains was only publicized recently. The issue was first reported by The Washington Post.
Manning said he was not aware of any compromise to U.S. security by the map and he did not believe there was any move yet to ban the devices. He also said he wasn’t aware of any Pentagon effort to reach out to the company or request that the data be taken off line.
The Defense Department already has policies and guidelines for the use of social media accounts and other technology.
“The rapid development of technology requires constant refinement of policies and procedures to enhance force protection and operational security,” said Manning. He said department personnel receive training and are advised to place strict privacy settings on their wireless devices and social media accounts. Also, those devices are not allowed in certain department locations, including classified areas. AP
 

Boeing profit tops expectations; gives strong 2018 outlook

Boeing shares rose Jan. 31 after the aircraft maker forecast better-than-expected earnings and revenue in 2018.
Along with rival Airbus, Boeing is benefiting from demand for new airliners that has created huge backlogs lasting several years. Aircraft deliveries are generating immediate cash faster than Wall Street expected.
In morning trading, Boeing shares were up $20.54, or 6.1 percent, to $358.25.
Boeing’s fourth-quarter profit nearly doubled from a year ago, to $3.13 billion, helped by strong deliveries and recent tax legislation.
Stripping out certain items, the company said core earnings were $4.80 per share. That beat the $2.91 per share forecast from analysts surveyed by Zacks Investment Research.
Revenue rose to $25.37 billion from $23.29 billion, beating analysts’ prediction of $24.83 billion.
Commercial airplane deliveries rose 13 percent to 209 airplanes.
Boeing, which is headquartered in Chicago, expects 2018 adjusted earnings between $13.80 and $14 per share and revenue in a range of $96 billion and $98 billion. Analysts surveyed by FactSet were expecting earnings of $11.91 per share and revenue of $93.36 billion.
Cai von Rumohr, an analyst for Cowen and Co., said investors should like the strong fourth-quarter results, the 2018 forecast, and progress in controlling costs for the 787 “Dreamliner” airplane.
Boeing is speeding up production of its workhorse 737 plane and the 787 to take advantage of strong demand. The company finished 2017 with a backlog of about 5,800 airliners with a list value of $488 billion. AP
 

Northrop Grumman beats Street fourth quarter forecasts

Northrop Grumman on Jan. 25 reported fourth-quarter profit of $178 million.
The Falls Church, Va.,-based company said it had profit of $1.01 per share. Earnings, adjusted for pretax expenses and non-recurring costs, were $2.82 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.75 per share.
The defense contractor posted revenue of $6.63 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $6.37 billion.
For the year, the company reported profit of $2.02 billion, or $11.47 per share. Revenue was reported as $25.8 billion.
Northrop Grumman expects full-year earnings to be $15 to $15.25 per share, with revenue expected to be $27 billion.
Northrop Grumman shares have climbed 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has risen 35 percent in the last 12 months. AP
 

Raytheon tops fourth quarter profit forecasts

Raytheon on Jan. 25 reported fourth-quarter profit of $393 million.
On a per-share basis, the Waltham, Mass.,-based company said it had net income of $1.35. Earnings, adjusted for pretax expenses and non-recurring costs, came to $2.03 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The defense contractor posted revenue of $6.78 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $6.83 billion.
For the year, the company reported profit of $2.02 billion, or $6.95 per share. Revenue was reported as $25.35 billion.
Raytheon expects full-year earnings to be $9.55 to $9.75 per share, with revenue in the range of $26.4 billion to $26.9 billion.
Raytheon shares have risen 5.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has risen 34 percent in the last 12 months. AP
 

Lockheed Martin reports fourth quarter loss

Lockheed Martin on Jan. 29 reported a fourth-quarter loss of $642 million, after reporting a profit in the same period a year earlier.
The Bethesda, Md.,-based company said it had a loss of $2.25 per share. Earnings, adjusted for one-time gains and costs, were $4.30 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.06 per share.
The aerospace and defense company posted revenue of $15.14 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $14.75 billion.
For the year, the company reported profit of $2 billion, or $6.89 per share. Revenue was reported as $51.05 billion.
Lockheed expects full-year earnings to be $15.20 to $15.50 per share, with revenue in the range of $50 billion to $51.5 billion.
Lockheed shares have risen slightly more than 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 7.5 percent. The stock has increased 36 percent in the last 12 months. AP
 

General Dynamics beats fourth quarter profit forecasts

General Dynamics Corp. on Jan. 243 reported fourth-quarter earnings of $636 million.
On a per-share basis, the Falls Church, Va.,-based company said it had profit of $2.10. Earnings, adjusted for pretax expenses, were $2.50 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share.
The defense contractor posted revenue of $8.28 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $8.44 billion.
For the year, the company reported profit of $2.91 billion, or $9.56 per share. Revenue was reported as $30.97 billion.
General Dynamics shares have climbed 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has increased 17 percent in the last 12 months. AP




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Headlines – February 16, 2018

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