• Bloomberg

    Key Senator Sees Pause in Turkey Sanctions If Erdogan Nixes S-400

    (Bloomberg) -- Senate Foreign Relations Chairman Jim Risch said Thursday the Senate should pause plans to sanction Turkey for its latest invasion of Syria if President Recep Tayyip Erdogan eliminates the Russian S-400 missile defense system from his arsenal.“We think that there’s going to be movement relatively soon on the S-400s,” the Idaho Republican said in an interview the day after meeting with Erdogan at the White House. As long as there is positive movement, Risch said, “we ought to sit tight, because I think we’re probably going to want to evaluate our position somewhat if indeed we get the S-400s resolved.”South Carolina Senator Lindsey Graham, a close Trump ally who has pushed the president to take a tougher stance on foreign policy, said Turkey has “weeks, not months” to drop the S-400 program and come to an agreement to end hostilities with the Kurds in northern Syria. If not, “Congress will act,” Graham said.By law, the Trump administration must sanction Turkey for purchasing the Russian missile-defense system, but the Treasury Department has not yet complied. There are several additional proposals in the House and Senate for extra sanctions as punishment for Turkey’s invasion of northern Syria last month. Risch and Graham have both introduced separate bipartisan sanctions bills.Risch said he sees the S-400 issue as separate from concerns for the Kurds, an ethnic minority that partnered with the U.S. in the fight against the Islamic State. Risch said he wants to keep Turkey as an ally.“When you’re going forward, instead of smacking the guy in the nose you need to try to keep moving forward as best you can,” Risch said.Tense MeetingThere was bipartisan outrage over Turkey’s attacks on Kurdish-held parts of Syria after President Donald Trump announced a withdrawal of U.S. troops from the region. That prompted the series of proposals to sanction Turkey’s leaders, military and financial institutions.Graham said the Senate should take up the sanctions bill that already passed the House of Representatives if Turkey doesn’t reverse its behavior.Some of Trump’s fellow Republicans expressed uneasiness over Wednesday’s meeting with Erdogan, questioning whether a leader who attacked the Kurds, a U.S. ally, should be rewarded with a White House meeting. That visit included a tense session with several GOP senators, such as Graham and Risch, who have been leading critics of Turkey’s actions.Risch said senators pressed Erdogan directly on what has been the “painful” recent history of the U.S.-Turkey alliance.Senator Joni Ernst, a Republican from Iowa who was also in the meeting, said there was “a lot of disagreement among the senators and President Erdogan on the S-400 and the Kurds.”She said regardless of the additional sanctions proposals in response to the Syria invasion, if Turkey continues with the Russian missile system, the U.S. will have no choice put to impose the penalties under the 2017 Countering America’s Adversaries Through Sanctions Act.“We have to follow the law,” Ernst said. “We are giving Turkey the opportunity to back off the S-400. The president laid a number of options down for it, and President Erdogan needs to make a choice.”Both SystemsThe Lockheed Martin Corp. F-35 is a next-generation stealth fighter produced for the U.S. and key international allies. Turkey has been a significant contributor to the production of the fighter and was expected to purchase about 100 of the jets before it was expelled from the F-35 program this year over its purchase of the S-400.The Russian missile defense system was designed to shoot down U.S. and allied aircraft at greater ranges and altitudes than older systems. U.S. officials are concerned that sensitive technology in the F-35 designed to evade such a system could be compromised and used to improve the Russian air defense system if Turkey, a NATO member, has both.Risch said he personally warned Erdogan against the S-400 purchase, and told him that under U.S. law he, as the Senate Foreign Relations chairman, has to sign off on any military materials that leave the U.S.“I’m not going to sign off on the F-35 so long as they have the S-400 missiles. I’ve been telling them that for about a year. I think they didn’t really believe us,” Risch said. “I think he just wasn’t accepting that answer, but after yesterday he clearly knows where we stand.”Understanding the Feuds Plaguing U.S.-Turkey Alliance: QuickTakeErdogan, however, told reporters the country cannot discard the S-400 system in favor of U.S. Patriot missiles, but said he told Trump “we’re ready to buy Patriots” as well.Erdogan offered to set up a bilateral group to resolve the issue, which would include his spokesman Ibrahim Kalin and U.S. National Security Advisor Robert O’Brien.Senate Armed Services Chairman Jim Inhofe separately pushed back on Erdogan’s apparent suggestion that he could have both the S-400 and the Patriot systems.“I would want to join on anything that could be emphatically opposing what he’s suggesting,” Inhofe said in an interview. “Just, no holds barred.”Texas Republican Ted Cruz agrees that Turkey cannot have both systems, according to his spokeswoman, Maria Jeffrey.“Senator Cruz has said publicly and he made it very clear privately, that Turkey can have the S-400 or they can have the F-35,” Jeffrey said of the meeting with Erdogan. “That’s a nonstarter.”Attacks on Kurdish AlliesRisch said he is much more optimistic about resolving the S-400 issue than he is about addressing Turkey’s invasion of Kurdish-held territory in Syria. He said Erdogan, in the White House meeting, showed senators a video of Kurdish terrorist attacks.“His point, that they do suffer from terrorist attacks, is well taken,” Risch said, noting that the Turks and the Kurds have long had strained ties. “But obviously not every Kurd is a terrorist.”Risch called talk of working out a “safe zone” and separating Kurdish and Turkish forces “a work in progress.”Risch also said increased violence by Turkish troops in northern Syria could ramp up pressure for sanctions.“This thing didn’t have to go much further south before there was complete breakage” of the U.S.-Turkey relationship, Risch said.(Updates with additional lawmaker comment beginning in third paragraph)\--With assistance from Firat Kozok.To contact the reporters on this story: Steven T. Dennis in Washington at sdennis17@bloomberg.net;Daniel Flatley in Washington at dflatley1@bloomberg.netTo contact the editors responsible for this story: Kevin Whitelaw at kwhitelaw@bloomberg.net, Laurie Asséo, Anna EdgertonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The Zacks Analyst Blog Highlights: Microsoft, Novartis, Novo Nordisk, Tesla and General Dynamics
    Zacks

    The Zacks Analyst Blog Highlights: Microsoft, Novartis, Novo Nordisk, Tesla and General Dynamics

    The Zacks Analyst Blog Highlights: Microsoft, Novartis, Novo Nordisk, Tesla and General Dynamics

  • LOGM vs. MANT: Which Stock Is the Better Value Option?
    Zacks

    LOGM vs. MANT: Which Stock Is the Better Value Option?

    LOGM vs. MANT: Which Stock Is the Better Value Option?

  • Microsoft to Attend Pentagon Summit on Project Maven
    Bloomberg

    Microsoft to Attend Pentagon Summit on Project Maven

    (Bloomberg) -- Microsoft Corp. is sending representatives to a series of meetings with Pentagon officials Wednesday to discuss how companies can contribute to the military’s work on artificial intelligence, according to a list of participants reviewed by Bloomberg. Microsoft is the only Big Tech company set to attend the event, which is likely to draw objections from employees and protesters who have broad concerns about the use of AI for military purposes.About 140 companies and organizations are on the list of attendees, which includes Boeing Co., International Business Machines Corp. and Lockheed Martin Corp. Anduril Industries Inc., a new startup from former Facebook Inc. executive Palmer Luckey, will also be there. The defense contractor began working this year on Project Maven, a technology unit of the Pentagon whose official name is the Algorithmic Warfare Cross-Functional Team.For the last two years, Maven has been at the center of a contentious public debate over the technology industry’s willingness to help build military technology. The project uses computer vision software to automatically analyze footage gathered by U.S. military drones. Google, an early participant in Maven, said last summer it would stop working on the project, following protests from employees who said the work strayed too closely to autonomous weaponry. Employees at Clarifai, a small computer vision startup, also objected to Maven, although that company continued to work on the project. It is on the list of attendees for this week’s meetings, which are co-hosted by Maven officials.Wednesday’s event is billed as an “AI Industry Day,” and the stated goal is to develop AI technology to assist soldiers in the field. The government said it is particularly interested in facial recognition, natural language processing, social media data and drone footage.Microsoft has made significant inroads with its military business over the last year. It won a contract a year ago worth as much as $480 million to build combat-ready versions of its HoloLens augmented reality headsets. Last month, it also won a $10 billion contract called Joint Enterprise Defense Infrastructure, or JEDI, to build cloud computing infrastructure for the Defense Department.Both contracts inspired criticism from Microsoft employees who said they hadn’t signed up to build weaponry. The company’s executives have consistently said they would not step back from working with the U.S. military. In a meeting with employees the week after the company won the JEDI contract, Microsoft Chief Executive Officer Satya Nadella said he respected dissenting opinions but that the company had always been unambiguous about its military work, according to a person who attended and asked not to be identified discussing a private event. A Microsoft spokesman declined to comment. Microsoft’s ties to government work have caused controversy in other areas, too. Workers at Microsoft’s GitHub unit have asked the company to cancel a contract with the U.S. Immigration and Customs Enforcement agency. On Wednesday morning, a group of protesters gathered at a GitHub conference in San Francisco to draw attention to the issue.The Defense Department has put increasing focus on AI in recent years. It sees the technology as key to geopolitical competition with China. But building it has come with challenges. U.S. officials have spoken openly about tensions in the military’s relationship with tech companies.“Some employees in the tech industry see no compelling reason to work with the Department of Defense,” Lieutenant General Jack Shanahan, the head of the Pentagon’s Joint Artificial Intelligence Center, said at an event last week. Their reluctance, he said, often came from the government’s inability to adapt to the pace of the private sector: “We don’t make it easy for them.”(Updates with GitHub protests in the seventh paragraph.)To contact the author of this story: Joshua Brustein in New York at jbrustein@bloomberg.netTo contact the editor responsible for this story: Mark Milian at mmilian@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Top Analyst Reports for Microsoft, Novartis & Novo Nordisk
    Zacks

    Top Analyst Reports for Microsoft, Novartis & Novo Nordisk

    Top Analyst Reports for Microsoft, Novartis & Novo Nordisk

  • Cubic (CUB) Reports Next Week: Wall Street Expects Earnings Growth
    Zacks

    Cubic (CUB) Reports Next Week: Wall Street Expects Earnings Growth

    Cubic (CUB) 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.

  • ManTech International (MANT) is a Great Momentum Stock: Should You Buy?
    Zacks

    ManTech International (MANT) is a Great Momentum Stock: Should You Buy?

    Does ManTech International (MANT) have what it takes to be a top stock pick for momentum investors? Let's find out.

  • The Extreme Risks of Trading Your Own Retirement Assets - November 13, 2019
    Zacks

    The Extreme Risks of Trading Your Own Retirement Assets - November 13, 2019

    From understanding your risk tolerance to maintaining emotional control, achieving your retirement goals takes a much different investing approach than regular stock trading.

  • Is Northrop Grumman (NOC) Stock Outpacing Its Aerospace Peers This Year?
    Zacks

    Is Northrop Grumman (NOC) Stock Outpacing Its Aerospace Peers This Year?

    Is (NOC) Outperforming Other Aerospace Stocks This Year?

  • At US$75.98, Is It Time To Put ManTech International Corporation (NASDAQ:MANT) On Your Watch List?
    Simply Wall St.

    At US$75.98, Is It Time To Put ManTech International Corporation (NASDAQ:MANT) On Your Watch List?

    ManTech International Corporation (NASDAQ:MANT), which is in the it business, and is based in United States, saw a...

  • Easy Investing Secrets to an Early Retirement - November 12, 2019
    Zacks

    Easy Investing Secrets to an Early Retirement - November 12, 2019

    Accomplishing the financial cushion to retire early is a fantasy for most, but bringing that fantasy to reality is not as difficult as it sounds. If you are willing to make some serious lifestyle adjustments, it can be achievable.

  • Embraer's (ERJ) Earnings Miss Estimates in Q3, Revenues Up
    Zacks

    Embraer's (ERJ) Earnings Miss Estimates in Q3, Revenues Up

    Embraer's (ERJ) third-quarter 2019 revenues increase on a year-over-year basis.

  • Why Booz Allen (BAH) Is Down 3.3% Since Last Earnings Report
    Zacks

    Why Booz Allen (BAH) Is Down 3.3% Since Last Earnings Report

    Booz Allen's (BAH) second-quarter fiscal 2020 earnings and revenues increase year over year.

  • Here's Why I Think Booz Allen Hamilton Holding (NYSE:BAH) Might Deserve Your Attention Today
    Simply Wall St.

    Here's Why I Think Booz Allen Hamilton Holding (NYSE:BAH) Might Deserve Your Attention Today

    It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

  • Pentagon Gets a Fix for F-35 Bug in $400,000 Pilot Helmets
    Bloomberg

    Pentagon Gets a Fix for F-35 Bug in $400,000 Pilot Helmets

    (Bloomberg) -- The U.S. military may have finally found a way to fix a glitch with the world’s most high-tech helmet used by pilots flying the most expensive fighter jet in history.A bug in the $400,000 helmet display screen used by F-35 aviators caused a green glow when flying in very low-light conditions and is now expected to be overcome by using a different type of semiconductor illumination.The distracting green glow was deemed so critical that restrictions were imposed on some night landings on aircraft carriers, and the fault was classified as a “Priority One” fix by the Pentagon’s test office. Jittery lines were also visible to some pilots.Defense giant Lockheed Martin Corp. has been contracted by the F-35 Joint Program Office for the redesign, modifying headpieces by installing new organic light-emitting diodes to replace traditional liquid crystal displays.“In partnership with the F-35 Joint Program Office and our U.S. Navy customer, we’ve been working to transition the helmet technology from a traditional LCD to an Organic LED system,” Program Manager Jim Gigliotti said by email. Lockheed Martin did not provide a figure for the number of helmets requiring modification or the upgrade cost.OLED technology can provide a number of manufacturing and user benefits over older LCD alternatives, including the use of flexible screens, improved picture quality and quicker response times, and are used in flat-panel TVs, smartphones and digital wristwatches. OLED benefits, however, may come at the cost of shorter screen lifespans.The contract announcement for new helmet displays comes just days before a joint hearing of House Armed Services Committee panels into the troubled $406 billion F-35 program, the most expensive weapon project in history.The project has been plagued by problems during its two-decade development phase. Last year, the Government Accountability Office said the project had 966 outstanding glitches, with more than 150 not expected to be resolved before full-rate production.And the stealthy jet is still months away from the completion of rigorous combat testing against potential adversaries’ defense systems. Nevertheless, the Pentagon is confident in the aircraft’s abilities. A $34 billion follow-on award was made last month for 478 more fighters, taking the existing production count toward 1,000 planes -- out of a planned total of at least 3,100.The F-35 is available in three variants and is used by the Air Force, Navy and Marine Corps. More than 10 countries have committed to buy the airplane, including Japan, South Korea, Britain, Israel, Australia and the Netherlands.The state-of-the-art helmets are made as part of a joint venture by Rockwell Collins Inc. and Elbit Systems of America. The shells combine Kevlar and carbon fiber, and custom-made to snugly fit the cranial contours of each pilot. Replacements can be made using a database of head measurements kept for each pilot.One high-tech feature of the helmet display is an ability for a pilot to see video imagery of where they will land simply by looking down during vertical descent. Weapon lock-on can be achieved by looking at targets through the helmets.“We’re in the process of developing, improving and fielding the new system and the feedback from users has been extremely positive,” Gigliotti said. The pilots are “excited to get this new equipment.”To contact the reporter on this story: Pete Norman in London at pnorman6@bloomberg.netTo contact the editors responsible for this story: Andrew Davis at abdavis@bloomberg.net, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The Independent Director of FLIR Systems, Inc. (NASDAQ:FLIR), Catherine Halligan, Just Sold 37% Of Their Holding
    Simply Wall St.

    The Independent Director of FLIR Systems, Inc. (NASDAQ:FLIR), Catherine Halligan, Just Sold 37% Of Their Holding

    Anyone interested in FLIR Systems, Inc. (NASDAQ:FLIR) should probably be aware that the Independent Director...

  • Top Ranked Growth Stocks to Buy for November 8th
    Zacks

    Top Ranked Growth Stocks to Buy for November 8th

    Top Ranked Growth Stocks to Buy for November 8th

  • Are Investors Undervaluing Science Applications International Corporation (NYSE:SAIC) By 38%?
    Simply Wall St.

    Are Investors Undervaluing Science Applications International Corporation (NYSE:SAIC) By 38%?

    Today we will run through one way of estimating the intrinsic value of Science Applications International Corporation...

  • Triumph Group's (TGI) Q2 Earnings & Sales Beat Estimates
    Zacks

    Triumph Group's (TGI) Q2 Earnings & Sales Beat Estimates

    Triumph Group's (TGI) second-quarter results reflect higher sales and margin expansion in its Integrated Systems segment on strong demand.

  • An Intrinsic Calculation For General Dynamics Corporation (NYSE:GD) Suggests It's 21% Undervalued
    Simply Wall St.

    An Intrinsic Calculation For General Dynamics Corporation (NYSE:GD) Suggests It's 21% Undervalued

    How far off is General Dynamics Corporation (NYSE:GD) from its intrinsic value? Using the most recent financial data...

  • Huntington Ingalls' (HII) Q3 Earnings Beat, Revenues Up Y/Y
    Zacks

    Huntington Ingalls' (HII) Q3 Earnings Beat, Revenues Up Y/Y

    Huntington Ingalls' (HII) top line up 6.5% year over year to $2,219 million, owing to higher volume in the Newport News Shipbuilding division and growth in the Technical Solutions division.

  • Huntington Ingalls (HII) Beats Q3 Earnings and Revenue Estimates
    Zacks

    Huntington Ingalls (HII) Beats Q3 Earnings and Revenue Estimates

    Huntington Ingalls (HII) delivered earnings and revenue surprises of 3.03% and 1.00%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Kratos' (KTOS) Q3 Earnings Beat Estimates, Revenues Rise Y/Y
    Zacks

    Kratos' (KTOS) Q3 Earnings Beat Estimates, Revenues Rise Y/Y

    Kratos Defense's (KTOS) Q3 sales total $184.1 million, beating the Zacks Consensus Estimate by a whisker. Sales rise 15.5% year over year.

  • Is ManTech International (MANT) Outperforming Other Computer and Technology Stocks This Year?
    Zacks

    Is ManTech International (MANT) Outperforming Other Computer and Technology Stocks This Year?

    Is (MANT) Outperforming Other Computer and Technology Stocks This Year?

  • Will Newport News Drive Huntington Ingalls (HII) Q3 Earnings?
    Zacks

    Will Newport News Drive Huntington Ingalls (HII) Q3 Earnings?

    Deliveries of NSC8 made by Huntington Ingalls (HII) are likely to have contributed favorably to the Ingalls Shipbuilding segment's revenues in the third quarter.