|Bid||0.00 x 1200|
|Ask||0.00 x 900|
|Day's range||115.00 - 126.85|
|52-week range||103.00 - 233.48|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||9.81|
|Earnings date||23 Jul 2020 - 27 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||240.50|
(Bloomberg Opinion) -- As Donald Trump left India after a largely unsuccessful visit last week, Senator Bernie Sanders, the front-runner for the Democratic nomination, expressed himself on the subject with his accustomed vehemence. “Instead of selling $3 billion in weapons to enrich Raytheon, Boeing and Lockheed, the United States should be partnering with India to fight climate change,” he tweeted. Sanders added: “We can work together to cut air pollution, create good renewable energy jobs, and save our planet.”Two parts of this tweet deserve attention. We can dispose of the first quickly: By the standards of international defense deals, $3 billion is not a lot, and the U.S. defense industry continues to view India as a missed opportunity. Sanders is turning a fairly low-key sale into something that looks like an unusual, and personal, achievement for Trump.The second and more worrying point is about “partnering with India to fight climate change.” This is a wonderfully warm and fuzzy sentiment. Yet there’s nothing in Sanders’s platform to back it up — in fact, quite the reverse.Sanders’s climate change plan is the most financially ambitious of any of the Democratic candidates. It devotes $16.3 trillion to reshaping the American economy through what the party’s left has come to call a “green New Deal.” That money would be spent on new and renewable energy ($2.5 trillion); energy efficiency subsidies for households and small businesses ($2 trillion); and so on. And, certainly, a reduction in U.S. emissions is vital if we are to keep global temperature rises under control.But the fact is that, if countries like India proceed on a carbon-intensive development path, those efforts would be moot. Any “partnership” with India to address climate change would have to ensure that Indian governments and companies have the finance and technology to build out infrastructure and industries that don’t triple or quadruple their carbon emissions per capita. (Currently, they don’t have access to either the money or the tech.)Does Sanders really want to address that problem? The numbers are stark: Out of the $16.3 trillion he promises for climate change, a mere $200 billion is to go to the Green Climate Fund for developing countries. That’s a tiny fraction (1.2%) of the $90 trillion that the world is expected to invest in infrastructure over the next decade—money that won’t go toward low-carbon, energy-efficient projects without significant steering and incentives. Sanders’s shortchanging of that effort is a reminder that real “partnerships” with countries like India are the last thing on his mind.India and much of Africa will only be set on a low-carbon development path if they have the resources to do so. And the West, and specifically Westerners’ savings, is the only hope for those resources. Clearly, rich-country governments will balk at scooping up these savings and sending them abroad; so we have to incentivize the private sector to do so instead. This could work, especially as the returns on green infrastructure in the emerging world can be quite attractive if properly packaged.Yet Sanders and other proponents of “Green New Deals” want to do the opposite. They want to put those savings to work at home, creating domestic jobs rather than solving the global problem of climate change. To do this they will restrict financial flows if necessary — and, in Sanders’ case, vastly expand the amount of U.S. income and investment controlled by the government. Their concern isn’t really the environment — it is, of course, domestic inequality. The climate crisis is merely a handy excuse for reshaping the economy. Which would be fine, if not for the fact that it’s also, well, a crisis. Greta Thunberg warned about exactly this in her speech to U.S. lawmakers last year: “Of course a sustainable transformed world will include lots of new benefits. But you have to understand. This is not primarily an opportunity to create new green jobs, new businesses or green economic growth. This is above all an emergency, and not just any emergency. This is the biggest crisis humanity has ever faced.”Forcing U.S. savings and profits to stay home instead of putting them to work in the developing world is bad for the environment — and pretty immoral as well if you actually care about inequality, since the U.S. is one of the richest places on earth, the global equivalent of the “one percent.” Donald Trump has been a disaster for the fight against global warming. But Bernie Sanders cannot credibly claim to be a climate warrior, either. When it comes to the environment, as with trade and development, he would mostly leave the rest of the world to struggle alone. So please, just spare us the sanctimonious tweets about weapons and “partnership.”To contact the author of this story: Mihir Sharma at email@example.comTo contact the editor responsible for this story: James Gibney at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Mihir Sharma is a Bloomberg Opinion columnist. He was a columnist for the Indian Express and the Business Standard, and he is the author of “Restart: The Last Chance for the Indian Economy.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Palantir Technologies Inc. scored another win in Washington Tuesday, securing a contract worth as much as $823 million to provide software to the Department of Defense, according to communications reviewed by Bloomberg.The four-year deal represents more than a decade of work by the Palo Alto, California-based data mining startup to break into the club of existing defense contractors, and bolsters the company’s prospects as it prepares it to go public.The contract is the second half of a larger project. Palantir and Raytheon Co. won the first half of the deal in 2018, worth $876 million. This second part involves Palantir working with BAE Systems to replace the U.S. Army’s Distributed Common Ground System, used for aggregating and analyzing data, which has faced technical challenges. Palantir sued the Army in 2016 to win the right to compete for the new contract after the U.S. Government Accountability Office determined the old system was underperforming and over budget. It is unclear how revenue from the contract will be split between Palantir and BAE Systems. The deal will increase annual sales at Palantir’s government division from its current $500 million or so, according to people familiar with Palantir’s finances who asked not to be identified discussing private information. Investor Peter Thiel co-founded Palantir in 2004, and the company’s software has been used for controversial ends like enabling the immigration deportation policies championed by President Trump, as well as for philanthropic ones like preventing sex trafficking and finding missing children.About half of Palantir’s business relies on deals with large corporate customers like Merck KGaA and Airbus SE, which use the software to manage drug discovery and improve supply chain logistics.The company is exploring both an IPO and a direct listing, but does not yet have a target date for going public, Bloomberg has reported. To contact the author of this story: Lizette Chapman in San Francisco at email@example.comTo contact the editor responsible for this story: Anne VanderMey at firstname.lastname@example.org, Alistair BarrFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- The Army’s proposed $178 billion budget for fiscal 2021 would boost spending to practice rapid deployments in the Pacific, including a 1,000-member force equipped to counter Chinese aggression.Army Secretary Ryan McCarthy said in an interview that the service is engaging in “financial engineering” to reposition from 17 years of wars in Iraq and Afghanistan to the current National Defense Strategy, which emphasizes a renewal of great-power competition with China and Russia.The new unit may be headquartered in Japan with its troops, who will be equipped with hypersonic weapons and electronic and cyber warfare capability, dispersed through the Indo-Pacific region.“The disposition of forces in that side of the world is important,” McCarthy said. “If you want to compete against China, against Russia, you’ve got to be there for longer duration.”The service also wants to spend more on hypersonic weapons and a new radar from Raytheon Co. for the Patriot missile system that’s built with Lockheed Martin Corp., according to McCarthy and budget documents being released Monday.Spending on the Army’s program for hypersonic weapons, which can fly five times the speed of sound, would increase to $821 million from $228 million, with test shots planned for 2022 and fielding in 2023. Some of the new weapons would go to the new “multidomain task force” deployed to the Pacific, McCarthy said.The Army is aiming for a prototype hypersonic missile battery by 2023 that can be put on a C-17 transport plane, he said, “and we’ll send it somewhere.”Upgraded RadarThe budget calls for about $1.1 billion over the next five years for research and an additional $838 million in procurement for the upgraded radar that detects and cues targets for Patriot batteries. Raytheon beat Lockheed for the radar program in October.While the $178 billion Army budget, which includes $25 billion in war spending, is about $2 billion less than approved for this year, the service’s budget proposal continues a shift started in fiscal 2018 -- moving dollars to research, development and prototyping for a new generation of long-range cannons and rockets, vertical-lift aircraft, vehicles, improved navigation and soldier gear.The budget requests $24 billion for procurement, including war spending, down slightly from what Congress appropriated for this year, and $12.7 billion in research, comparable to this year. The Army’s funds to fight Islamic State and train allies would drop to $845 million from $1.2 billion. Spending to train the Afghanistan Security Force would be $4 billion, or $200 million less than this year.Shift to R&DMcCarthy said the five-year plan in the current budget shifted $30 billion toward research and development over the five years ending in fiscal 2024. The money would be gleaned from 186 program terminations and truncations.The proposed budget would shift an additional $9 billion toward R&D for fiscal 2023 through 2025. Increased spending would be focused on modernization priorities including advanced helicopters, missiles, air defense and enhanced “soldier lethality.”“We got the herd moving” in the right direction, McCarthy said.The nonpartisan Congressional Research Service raised caveats Friday about the Army’s plans based on current budgets.Some lawmakers may question whether the modernization plan is realistic considering “the Army’s somewhat optimistic assumptions about the budget, demand for forces, mature research and development and the pace of adversary modernization, as well as the scope and complexity of overall Army Modernization,” authors Andrew Feickert and Brendan McGarry said.Cuts, CancellationsThe $9 billion shift in the latest proposed five-year budget includes about $5.3 billion gained from terminating or reducing 10 programs. They include about $1.3 billion in additional reductions to the Joint Light Tactical Vehicle built by Oshkosh Corp.; $1.2 billion from canceling a new “mobile intermediate-range missile” and $400 million from ending work on a helicopter rocket system from BAE Systems Plc.The theory is that seeding programs in development now will give their technologies longer time to mature and offer the Army a variety to choose from in future years. Eight priorities set out by the Army would be increased to $63.7 billion through 2025, up from $54.7 billion in the current five-year plan. They include:$16 billion for the Next Generation Combat Vehicle, up from $15.5 billion in this year’s plan;$13.1 billion for communications networks, up from $11.8 billion.$10.6 billion for air and missile defense, up from $9.2 billion.$8.2 billion for Long Range Precision Fires missiles, up from $5.5 billion.$6.9 billion for Future Vertical Lift, up from $5.1 billion.$1.9 billion for Assured Precision Navigation and Timing, up from $1 billion.For fiscal 2021 alone, the Army is requesting $10.6 billion for the eight core areas or about $2.2 billion more than this year’s budget. One of the most closely watched areas is funding for the next generation of attack and reconnaissance helicopters -- $1.1 billion for fiscal 2021, up from $810 million this year.The $30 billion in reductions to bolster R&D spending was the product of “night court” sessions led by McCarthy’s predecessor, Mark Esper -- now the defense secretary -- that cut, terminated or truncated 186 programs, including Boeing Co.’s CH-47 F-model Chinook helicopter.But the Chinook initiative was previously rejected by Congress, which approved $28 million to keep the model funded after heavy lobbying by lawmakers from Pennsylvania, where the helicopter is built, and New Jersey and Delaware, where many workers live.Undaunted, the Army once again proposes ending funding for the Chinook. But Ryan said he doesn’t expect the new budget to generate as much drama in Congress as did this year’s.“Hard choices are ahead of us -- much harder,” he said. “This budget, quite frankly, is going to be easier than ‘22 and ‘23 because there’s going to be some ruthless” decisions to be made about which prototypes the Army will select to buy, reduce or cancel, he said.To contact the reporter on this story: Tony Capaccio in Washington at email@example.comTo contact the editors responsible for this story: Bill Faries at firstname.lastname@example.org, Larry LiebertFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Raytheon (RTN) delivered earnings and revenue surprises of 1.61% and -2.31%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
With each of Raytheon's (RTN) segments reflecting favorable top-line outlook for the fourth quarter, we are optimistic about its overall revenue performance.
Zacks.com featured highlights include: SYNNEX, Dollar General, Booz Allen Hamilton, Morgan Stanley and Raytheon
Raytheon (RTN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Raytheon's (RTN) Dual Band Radar is the first radar system in the U.S. Navy fleet, capable of simultaneously operating two frequency ranges (S-band and X-band).
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BAE Systems Plc snapped up more than $2 billion in U.S. defense-technology assets that Raytheon Inc. and United Technologies Corp. were forced to sell in order to gain antitrust approval for their merger.Europe’s biggest defense firm will buy the military global positioning system arm of UTC’s Collins Aerospace unit for $1.93 billion, together with Raytheon’s airborne tactical radios operation at a cost of $275 million, it said Monday.The assets came to market following regulatory scrutiny of the Raytheon-UTC merger and the acquisitions are subject to successful closure of that deal, according to a statement from London-based BAE, which said both businesses are focused on areas of highest-priority U.S. defense spending.“It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available,” BAE Chief Executive Officer Charles Woodburn said in the release, adding that they’ll be folded into the group’s electronics-systems sector.BAE shares rose as much as 3.4% and were trading 2.9% higher at 642.60 pence as of 8:31 a.m. in London. The stock is already up 14% this year following a 23% gain in 2019.The Collins GPS unit is based in Cedar Rapids, Iowa, employs about 675 people and is expected to post adjusted earnings of $127 million on $359m in sales this year, BAE said. The Raytheon radios operation has 100 staff at facilities in Indiana and Florida, with sales of around $125 million last year.To contact the reporter on this story: Christopher Jasper in London at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Andrew Noël, Tara PatelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.