News Briefs – April 29, 2019

China, Russia holding joint navy drills

China has said it is holding joint naval drills.
Chinese Defense Ministry spokesman Ren Guoqiang said April 25 that the drills will be held off the eastern port city of Qingdao.
He said they will be held from April 28-May 4 and will feature ships and submarines, along with fixed-wing aircraft, helicopters and marine units.
Despite past mistrust, China and Russia’s alliance has been growing closer in recent years, in part due to common rivalry with the U.S. AP

Pentagon expected to send about 300 more troops to border

The Pentagon says it may send about 300 more troops to the U.S.-Mexico border in roles that could put them in contact with migrants. They would thus be granted an exception to a policy against such contact.
Charles Summers, a spokesman for Acting Defense Secretary Patrick Shanahan, said April 26 that Shanahan was expected to approve the proposal.
The new troops would be in support roles such as driving buses with detained migrants and providing meals to them. It would also include Department of Defense lawyers helping to process the migrants.
Summers said the troops would not have any law enforcement role. They would be responding to a request by the Department of Homeland Security for additional military assistance amid a surge in migrants reaching the border. AP

Raytheon: First quarter earnings snapshot

Raytheon on April 25 reported first-quarter earnings of $781 million.
On a per-share basis, the Waltham, Mass.,-based company said it had net income of $2.77.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.45 per share.
The defense contractor posted revenue of $6.73 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $6.58 billion.
Raytheon expects full-year earnings to be $11.40 to $11.60 per share, with revenue in the range of $28.6 billion to $29.1 billion.
Raytheon shares have increased 21 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 17 percent. The stock has decreased 15 percent in the last 12 months. AP

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