May 31, 2016: Drexel Hamilton initiates coverage of Synchronoss Tech with a Buy rating, and sets a price target of $48…
May 31, 2016: Drexel Hamilton initiates coverage of Synchronoss Tech with a Buy rating, and sets a price target of $48.
More Synchronoss Technologies News
March 02, 2016: Synchronoss Tech acquires Openwave Messaging; no terms disclosed. The company has entered into an agreement to acquire privately held Openwave Messaging Inc. Openwave has a world-class product portfolio which includes its core complete messaging platform optimized for todays most complex messaging requirements worldwide with a particular geographic strength in APAC. With this acquisition and combined with Synchronoss current global footprint, Synchronoss will have direct access to over 3.5B subscribers around the world for its flagship personal cloud platform and importantly bolster our go-to-market efforts internationally.
The acquisition is not expected to have a material impact to Synchronoss revenue and non-GAAP EPS for the 2016 fiscal year.
CEO: “The addition of Openwave into our product portfolio will help expand our total addressable cloud market opportunity and geographic footprint internationally.”
March 01, 2016: Synchronizes announces the acquisition of Magpie Software, a Colorado-based company founded in 2001 that is an active industry leader in software design. This acquisition will reinforce and expand Syncroness’ innovative product development team.
The complementary expertise of Syncroness and Magpie, in integrated hardware and software solutions, will augment existing Syncroness’ capabilities and also allow for new product offerings using Magpie’s unique skills. This addition will strengthen Syncroness’ position in the health and wellness, aerospace, and industrial equipment markets. With 100 employees, Syncroness partners with clients to address the business and technical challenges inherent in developing highly complex products.
The acquisition of Magpie, entirely financed by Syncroness, is expected to be final in the first quarter of 2016.
February 03, 2016: Synchronoss Tech comments on new strategic venture with Verizon during their conference call. Verizon will expand its enterprise offerings to deliver an advanced user-authentication and identity management solution to enterprises and consumers. As part of this expansion, Synchronoss has entered into a joint venture with Verizon to deliver a multifactor solution for managing identities online.
The joint venture with Verizon adds another complementary component to Synchronoss Secure Mobility Platform which was announced in collaboration with Goldman Sachs last November.
Also during the conference call, Synchronoss says it still expects free cash flow growth this year.
November 4, 2015: Synchronoss Technologies (SNCR Updated Trend Analysis) Tigress Financial Partners Raised SNCR to Strong Buy from Buy.
October 29, 2015: Synchronoss Technologies Raymond James Raised SNCR to Strong Buy from Outperform, price target $50. Raymond James lowered their price target to $50 from $57.
October 5, 2015: Synchronoss Technologies Mobifone Chooses Synchronoss for Personal Cloud and Activation Services in Vietnam. The company announced that it has been chosen by Vietnamese mobile operator Mobifone to deploy a wide range of Synchronoss services and solutions with an estimated total contract value to exceed $80M over the next three years and will generate a significant return for both Mobifone and Synchronoss in this rapidly growing market. Synchronoss products and services will include: Synchronoss Mobile Content Transfer for device activation and content transfer solution to easily provision subscribers with new smartphones containing the personal content from their old device, Synchronoss Personal Cloud solution to provide subscribers with their own secure personal cloud-based back-up and storage service for mobile data, Synchronoss Network Activation solution to optimize the operations and financial performance of both the domestic and international roaming services.
September 23, 2015: Synchronoss Technologies Verizon Wireless and Synchronoss to continue the terms of their contract; confirms contract extends into 2018. Synchronoss Technologies, Inc., the mobile innovation leader that provides cloud solutions and software-based activation for mobile carriers, retailers and OEMs around the world, today reiterated that it has a multi-year contract in place with Verizon Wireless, (NYSE:VZ) (Nasdaq:VZ), focused primarily on the company’s Personal Cloud offering and related services. There has been no change in the agreement between Synchronoss and Verizon Wireless.
Synchronoss Technologies (SNCR Updated Trend Analysis) provides cloud solutions and software-based activation for connected devices worldwide. The company’s services include intelligent connectivity management and content synchronization, backup, activation, and support services that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity and multi-channel retailers.
Synchronoss Technologies published this video about their company:
May 31, 2016: Bank of Nova Scotia reports Q2 2016 EPS of C$1.46 versus the C$1.42 estimate. Revenue also beat coming in at C$6.59 billion versus the C$5.94 billion estimate. The company also announced…
May 31, 2016: Bank of Nova Scotia reports Q2 2016 EPS of C$1.46 versus the C$1.42 estimate. Revenue also beat coming in at C$6.59 billion versus the C$5.94 billion estimate. The company also announced a 12 million share buyback.
The CEO says, “Both businesses delivered solid asset and deposit growth and our strategy to deepen relationships with our customers has translated into growth. Partly offsetting our earnings growth were elevated loan losses in the energy sector, which are expected to decline beginning next quarter.”
More Bank of Nova Scotia News
March 1, 2016: TD Securities upgrades The Bank of Nova Scotia to Buy from Hold on the heals of the companies earnings report. The company reports Q1 2016 EPS of C$1.43 versus the estimated C$1.42. Revenue also beat coming in at C$6.36 billion versus the C$5.86 billion estimate.
The CEO says, “We delivered strong earnings to start 2016 with solid top line growth in both our Canadian Banking and our International Banking businesses. The Bank’s diversified business model has delivered growth despite continued volatility in the markets and some moderation in select areas of our operations.”
The Bank of Nova Scotia provides various personal, commercial, corporate, and investment banking services in Canada and internationally.
May 31, 2016: Lake Street Capital Markets initiates AMN Healthcare Services with a Buy rating, and sets a price target of…
May 31, 2016: Lake Street Capital Markets initiates AMN Healthcare Services with a Buy rating, and sets a price target of $46.
More AMN Healthcare News
March 1, 2016: AMN Healthcare Services had a positive Mad Money mention on CNBC today. Jim Cramer spoke with AMN Healthcare Services CEO Susan Salka, who commented on the rising demand of both doctors and nursing jobs.
May 31, 2016: Hill International receives $6 million contract extension from the Los Angeles Metro. Hill International received a contract extension from the Los Angeles County Metropolitan Transportation Authority (Metro) to continue providing program management support and implementation services. The one-year contract extension has an estimated value to Hill of approximately $6.2 million.
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May 26, 2016: Heavy insider buying was detected in Hill International. Three of the company’s owners bought shares over the last 7 days.
CRESCENDO PARTNERS II LP, Owner, bought 3,135 shares for $12,509 on May 25, 2016.
Eric Rosenfeld, Director, bought 3,135 shares for $12,509 on May 25, 2016.
Eric Rosenfeld, Director, bought 7,500 shares for $29,400 on May 23, 2016.
CRESCENDO PARTNERS II LP, Owner, bought 7,500 shares for $29,400 on May 23, 2016.
CRESCENDO PARTNERS II LP, Owner, bought 15,844 shares for $60,943 on May 19, 2016.
Bulldog Investors, Owner, bought 6,300 shares for $24,129 on May 19, 2016.
Eric Rosenfeld, Director, bought 15,844 shares for $60,943 on May 19, 2016.
May 12, 2016: Hill International Hill joint venture was awarded a $42 million contract. The joint venture with Italferr S.p.A. and ASTAD Engineering Consultancy and Project Management Company has been awarded a contract by Qatar Railways Company to provide project management consultancy services in connection with the Lusail Light Rail Transit (LLRT) system near Doha, Qatar. The four-year contract has an estimated value to the joint venture of approximately QAR 151.6 million ($41.6 million). Hill is a 50% partner in the joint venture.
Lusail City, just north of Doha, is a visionary waterfront development currently under construction. Designed to be an environmental and self-sustaining community, the city will have residential and commercial developments, including schools, medical facilities, shopping centers, and more. In line with the vision of Lusail City, the LLRT network will serve the residents of the city by providing an environmentally-friendly mode of transportation that will not only connect destinations within Lusail, but also to Doha by way of the Doha Metro. The 38.5-kilometer (23.5-mile) tram system will have four lines, 25 stations at-grade and seven underground stations.
April 29, 2016: Hill International joint venture receives ID/IQ contract from the New Jersey Division of Property Management and Construction. Hill International’s joint venture with The Louis Berger Group has received an indefinite delivery/indefinite quantity (ID/IQ) contract from the State of New Jersey Division of Property Management and Construction (DPMC) to provide construction management services in connection with various flood mitigation and environmental infrastructure projects. The Berger/Hill joint venture is one of five firms selected for the ID/IQ. The first 18-month task order has an estimated value to the joint venture of approximately $1.2 million.
April 21, 2016: Hill International receives a $20 million contract from the New York City School Construction Authority. This is a joint venture with The LiRo Group and is for construction management, professional staffing and consulting services. The two-year contract has an estimated value to the joint venture of approximately $20 million. Hill and LiRo are equal partners in the joint venture.
March 30, 2016: Hill International receives contract to support construction of the Trans Adriatic pipeline; no financial terms disclosed. Contract from Technipetrol Hellas S.A., an affiliate of Technip S.A., to provide project management support services in connection with construction of the Trans Adriatic Pipeline (TAP) project. The 870-kilometer pipeline will connect to the Trans Anatolian Pipeline on the Turkish-Greek border, and will run through Greece, Albania and the Adriatic Sea before coming ashore in southern Italy. The project is expected to be completed by 2020.
Exec: “This is a massive undertaking that will have an enormous impact on the energy supply and overall regional economy of Southern Europe.”
February 22, 2016: Hill International received two contracts from the Port of Long Beach to provide construction management services on various capital improvement projects. One contract is in connection with Pier G Metro track improvements and the other contract is to provide on-call services. The two contracts have a combined estimated value to Hill of approximately $2.5 million.
January 29, 2016: Hill International announced today that it has received three contracts from District 8 of the California Department of Transportation (Caltrans). These three-year contracts have a combined estimated value to Hill of approximately $20.4 million.
Hill will be providing construction engineering and construction inspection services on an as-needed basis to support Caltrans on various road and bridge projects throughout District 8, which encompasses Riverside and San Bernardino counties in Southern California.
November 16, 2015: Hill International (HIL Updated Trend Analysis) receives $14 million contract extension. Hill International announced today that it has received a contract extension from the Jabal Omar Development Company (JODC) in connection with the Jabal Omar mixed-use development in Makkah, Saudi Arabia. The one-year contract extension has an estimated value to Hill of approximately SAR 51.7 million ($13.8 million). The Jabal Omar development, situated on 57 acres, includes 37 towers with a total built-up area of 2.0 million square meters (21.5 million square feet) of space, including hospitality, residential, retail, commercial and religious facilities. Hill has been the project manager on this multi-billion-dollar development since 2010.
November 11, 2015: Hill International received a contract extension from the Ministry of Transport and Communications and the Public Authority for Civil Aviation of the Sultanate of Oman. This is an extension of the three-year, $108.5 million contract to provide consulting engineering services on Muscat International Airport and Salalah Airport awarded to Hill in 2012. The one-year extension has an estimated value to Hill of approximately $78.2 million. The expansion of Muscat International Airport, the largest airport in Oman, includes a new terminal that will have a capacity of 12 million passengers annually. The expansion of Salalah Airport, the second largest airport in Oman, involves upgrading it from primarily a domestic airport to make it more suitable for international travelers, including building a new runway long enough to handle the A380 Airbus, and a new terminal that will improve the airport’s capacity to one million passengers annually. Mohammed Al Rais, Regional President for Hill, says, “It is an honor to continue to serve the Ministry to help deliver these critical aviation projects. Upon completion, they will have an immediate positive impact on both business and tourism in the region.”
November 4, 2015: Hill International (HIL Updated Trend Analysis) awarded $60M ID/IQ contract by SANDAG. Hill International announced that CH2M in association with Hill has received an indefinite delivery/indefinite quantity (ID/IQ) contract from the San Diego Association of Governments (SANDAG). The five-year contract has an estimated potential value to the CH2M/Hill team of approximately $60.0 million. Hill is expected to perform approximately 35% of the services to be provided under the contract. SANDAG plans to develop and construct public transportation improvements, with a focus on roads and highways. The CH2M/Hill team will provide professional and technical construction management and engineering services in connection with various proposed capital improvement and maintenance projects.
November 4, 2015: Hill International received multiple contracts from the California Department of Transportation (Caltrans) to provide construction engineering, inspection and scheduling support services. The contracts have a combined estimated value to Hill of approximately $14.7 million.
Hill International (HIL Updated Trend Analysis) with 4,600 employees in over 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. It operates through two segments, Project Management and Construction Claims. The Project Management segment offers program management, project management, construction management, and project management oversight. The Construction Claims segment provides claims consulting, management consulting, and litigation support.
May 30, 2016: Biogen and AbbVie receive FDA approval of once-monthly ZINBRYTA™ (daclizumab) for Multiple Sclerosis. The U.S. Food and Drug Administration (FDA) approved ZINBRYTA…
May 30, 2016: Biogen and AbbVie received FDA approval of once-monthly ZINBRYTA™ (daclizumab) for Multiple Sclerosis. The U.S. Food and Drug Administration (FDA) approved ZINBRYTA (daclizumab), a new once-monthly, self-administered, subcutaneous treatment for relapsing forms of multiple sclerosis. Because of its safety profile, the use of ZINBRYTA should generally be reserved for patients who have had an inadequate response to two or more therapies indicated for the treatment of multiple sclerosis (MS). The FDA approval of ZINBRYTA is primarily based on results from two clinical trials, including DECIDE, the largest and longest head-to-head Phase 3 clinical trial ever conducted in MS.
The Phase 2b SELECT and Phase 3 DECIDE studies were global, randomized, double-blind, controlled studies that involved approximately 2,400 people living with RMS. Some patients in DECIDE were treated for up to three years.
In DECIDE and SELECT, ZINBRYTA significantly reduced the annualized relapse rate (ARR), the primary endpoint of the studies, by 45 percent compared to AVONEX up to 144 weeks and by 54 percent compared to placebo at 52 weeks (both p<0.0001), respectively.
The CEO says, “The FDA approval of ZINBRYTA reflects our long-term commitment to bringing therapies to the community that meet the diverse needs of people living with MS… ZINBRYTA is the first once-monthly, self-administered treatment in MS, and it demonstrated superior efficacy over a widely used interferon. Clinical data showed ZINBRYTA significantly reduced relapses and brain lesions for up to three years compared to AVONEX(interferon beta-1a) intramuscular injection, and has a positive benefit-risk profile with monthly patient monitoring.”
More AbbVie News
May 10, 2016: AbbVie Inc. has received 5 Buy ratings in the last 12 days. One of the top analysts is David Toung of Argus Research. David Toung has a win ratio of 72%.
David Toung of Argus Research writes, “We are reaffirming our BUY rating on AbbVie Inc. with a target price of $85. ABBV delivered strong 1Q16 results, driven by sales of Humira and Imbruvica. The company has also strengthened its oncology portfolio with the acquisition of Stemcentrix.”
April 11, 2016: AbbVie Inc. gets FDA approval for Venclexta for chronic lymphocytic leukemia in patients with a specific chromosomal abnormality. The FDA approved Venclexta (venetoclax) for the treatment of patients with chronic lymphocytic leukemia (CLL) who have a chromosomal abnormality called 17p deletion and who have been treated with a least one prior therapy. Venclexta is the first FDA-approved treatment that targets the B-cell lymphoma 2 (BCL-2) protein, which supports cancer cell growth and is overexpressed in many patients with CLL.
According to the National Cancer Institute, CLL is one of the most common types of leukemia in adults, with approximately 15,000 new cases diagnosed each year. CLL is characterized by the progressive accumulation of abnormal lymphocytes, a type of white blood cell. Patients with CLL who have a 17p deletion lack a portion of the chromosome that acts to suppress cancer growth. This chromosomal abnormality occurs in approximately 10 percent of patients with untreated CLL and in approximately 20 percent of patients with relapsed CLL.
The efficacy of Venclexta was tested in a single-arm clinical trial of 106 patients with CLL who have a 17p deletion and who had received at least one prior therapy. Trial participants took Venclexta orally every day, beginning with 20 mg and increasing over a five-week period to 400 mg. Results showed that 80 percent of trial participants experienced a complete or partial remission of their cancer.
Venclexta is indicated for daily use after detection of 17p deletion is confirmed through the use of the FDA-approved companion diagnostic Vysis CLL FISH probe kit.
March 04, 2016: AbbVie’s Imbruvica (ibrutinib) approved by FDA for the first-line treatment of chronic lymphocytic leukemia. This is the 5th treatment indication for IMBRUVICA. The approval is based on data from the randomized, multi-center, open-label Phase 3 RESONATE-2 (PCYC-1115) trial, which evaluated the use of IMBRUVICA versus chlorambucil in 269 treatment-nave patients with CLL or small lymphocytic lymphoma (SLL) aged 65 years or older. The RESONATE-2 data were previously presented at the American Society of Hematology (ASH) Annual Meeting in December 2015 and also simultaneously published in The New England Journal of Medicine. IMBRUVICA is jointly developed and commercialized by Pharmacyclics LLC, an AbbVie company and Janssen Biotech, Inc.
IMBRUVICA is now approved to treat CLL patients regardless of their treatment history (treatment-nave and previously-treated patients). In addition, IMBRUVICA is approved to treat high-risk CLL patients with del 17p,1 a genetic aberration that occurs when part of chromosome 17, the location of the tumor suppressor gene p53, has been lost or deleted.
February 23, 2016: CitiGroup raised AbbVie Inc. to a Buy rating, from Neutral, and sets a price target of $65. CitiGroup says that them market is under-estimating the probability that ABBV’s Humira dosing patents will prove resilient in the ongoing IPR process in the U.S., and patent prosecution in the E.U.
February 10, 2016: AbbVie Inc. to collaborate with Synlogic to develop a new class of medicines designed to power the Microbiome. Synlogic, a privately-held biopharmaceutical company developing novel medicines based on its proprietary synthetic biology and the microbiome platform, today announced the signing of a multi-year global R&D collaboration with AbbVie. The collaboration is focused on developing novel medicines for the treatment of inflammatory bowel disease (IBD) using Synlogics proprietary approach for a new class of synthetic biotic medicines that power the microbiome.
Under the terms of the collaboration, Synlogic will discover, characterize and optimize synthetic biotics-based drug candidates through an R&D program covering a limited number of effectors modulating the IBD pathophysiology, with special emphasis on Crohns disease and ulcerative colitis. One of the goals of the multi-year collaboration is to combine AbbVies expertise in metabolic and inflammatory diseases with Synlogics platform to generate and advance to the clinic a novel, oral probiotic therapeutic candidate. Using Synlogics synthetic biotics platform, the novel probiotic drug candidate will be designed with synthetic programmable genetic circuits that can blend with the patients microbiome and perform a programmed therapeutic operation involved in the IBD disease process.
Under the R&D collaboration, AbbVie and Synlogic will evaluate synthetic biotic candidates that modulate certain effectors involved in the IBD pathway and advance them through preclinical development, with AbbVie being responsible for regulatory filings, clinical development and worldwide marketing of any resulting products. Financial terms were not disclosed.
January 20, 2016: AbbVie Inc. drug Venetoclax receives breakthrough therapy designation from FDA in combination with Rituximab for the treatment of patients with relapsed/refractory chronic lymphocytic leukemia. The company announced today that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation for venetoclax in combination with rituximab for the treatment of patients with relapsed/refractory chronic lymphocytic leukemia (R/R CLL). Venetoclax is an inhibitor of the B-cell lymphoma-2 (BCL-2) protein being developed by AbbVie in partnership with Genentech and Roche.
The designation is supported by an investigational study of venetoclax in combination with rituximab in patients with R/R CLL. Rituximab is indicated in combination with fludarabine and cyclophosphamide for the treatment of patients with previously untreated and previously treated CD20-positive CLL. Rituximab in combination with the investigational agent venetoclax is not approved for the treatment of R/R CLL.
In the U.S. specifically, it is estimated that more than 14,000 people will be diagnosed with CLL this year.
In April 2015, the FDA granted Breakthrough Therapy Designation to single agent venetoclax for the treatment of CLL in previously treated (relapsed/refractory) patients with the 17p deletion genetic mutation. According to the FDA, Breakthrough Therapy Designation is intended to expedite the development and review of therapies for serious or life-threatening conditions. In January, AbbVie announced that the FDA granted priority review for the single agent NDA application.
Venetoclax is an investigational oral B-cell lymphoma-2 (BCL-2) inhibitor being evaluated for the treatment of patients with various cancer types. The BCL-2 protein prevents apoptosis (programmed cell death) of some cells, including lymphocytes, and can be over expressed in some cancer types. Venetoclax is designed to selectively inhibit the function of the BCL-2 protein. Venetoclax is being developed in collaboration with Genentech and Roche. Together, the companies are committed to BCL-2 research with venetoclax, which is currently being evaluated in Phase 3 clinical trials for the treatment of relapsed/refractory CLL, along with studies in several other cancers. Venetoclax is an investigational compound and its safety and efficacy have not been evaluated by the FDA or any other health authority. Earlier this month, AbbVie announced the FDA granted priority review for the evaluation of the venetoclax NDA application for the treatment of chronic lymphocytic leukemia (CLL) in adults who have received at least one prior therapy, including patients with 17p deletion. The company also announced that the Marketing Authorization Application (MAA) for venetoclax was validated by the European Medicines Agency (EMA) for the treatment of patients with chronic lymphocytic leukemia (CLL) with 17p deletion or TP53 mutation.
January 18, 2016: AbbVie won a patent challenge Amgen last week as the U.S. Patent Office (USPO) denied petitions by Amgen. U.S. patent officials on Thursday denied petitions by Amgen to review two formulation patents on AbbVie’s Humira.
Amgen argued that the patents should not have been granted in the first place for Humira, a rheumatoid arthritis drug with annual sales approaching $14 billion. The USPO said “we determine, based on the Petition and the accompanying evidence, that Amgen has not shown a reasonable likelihood of prevailing on any of its challenges.”
AbbVie said it expects Humira sales to reach $18 billion by 2020. AbbVie said it does not expect competition from biosimilars until 2022.
AbbVie Inc. (ABBV Updated Trend Analysis) makes pharmaceutical products worldwide. AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories.
May 26, 2016: Michael Brauser EC, Director, bought $2,202,533 worth of IDI Inc stock last week. Then, on May 25, 2016, Michael Brauser bought another…
May 26, 2016: Michael Brauser EC, Director, bought $2,202,533 worth of IDI Inc stock last week. Then, on May 25, 2016, Michael Brauser bought another $16,940 worth of IDI stock. Michael Brauser has an incredible win ratio of 80% with an average gain of +21.4%.
IDI, Inc provides data and analytical solutions in the United States. It empowers clients across markets and industries to execute various aspects of their business, including managing risk, conducting investigations, identifying fraud and abuse, collecting debts, and identifying and acquiring new customers.
May 26, 2016: Ulta Salon Cosmetics & Fragrance Inc reports Q1 2016 EPS of $1.45 versus the $1.29 estimate. Revenue also beat coming in at $1.07 billion versus the $1.03 billion estimate. Same store sales were…
May 26, 2016: Ulta Salon Cosmetics & Fragrance Inc reports Q1 2016 EPS of $1.45 versus the $1.29 estimate. Revenue also beat coming in at $1.07 billion versus the $1.03 billion estimate. Same store sales were up +15.2%.
The CEO says, “Several positive factors are coming together to drive the momentum in our business, exemplified by the best comparable sales growth in our history as a public company. These include healthy consumer demand in the beauty category, our unique format and offering which are supporting sustained share gains, and effective collaboration across the enterprise to ensure strong execution of our growth strategies.”
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March 11, 2016: ULTA Salon reports Q4 2015 EPS of $1.69 versus the estimated $1.54. The company also beat on revenue coming in at $1.27 billion versus the $1.24 billion estimate. The company als announced a $200 million buyback (2% of market cap).
March 03, 2016: Hearing rumors circulating that Ulta Salon Cosmetics & Fragrance Inc could replace GMCR in the S&P 500 index. S&P announcement could come within the next few hours as the GMCR takeover deal closed this morning.
February 22, 2016: Heavy call activity detected in Ulta Salon Cosmetics & Fragrance’s stock. 3000 March 165 calls traded at $4.30, and 1800 March 175 calls were traded at $1.60.
February 14, 2016: Raymond James raised ULTA Salon to a Strong Buy rating, from an Outperform rating, after consumer discretionary stocks sell off in economy fears.
January 4, 2016: Price target raised to $203 from $191 at Keybanc/ Pacific Crest, reiterates Overweight rating.
September 1, 2015: Positive Mad Money mention. Jim Cramer interviews CEO of Ulta Salon:
Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA Updated Trend Analysis) operates as a specialty retailer in the United States. ULTA is the largest beauty retailer in the United States and the premier beauty destination for cosmetics, fragrance, skin, hair care products and salon services.
Zabrena published this video inside a Ulta Salon retail store:
Deutsche Bank AG has recorded a charge of approximately €450 million this week for equities fraud. The fine was seemingly for equities fraud although Deutsche Bank refuses to say much else. All we know is that the business set aside €20.0 million in 2014 for “external fraud,” but that number soared to €450 million by 2015.
Deutsche Bank stock has not even priced in the new revelation of a €450 million charge for fraud.
What a bunch of BS folks. Just more proof that market valuations are out of whack with reality. In a free market, Deutsche Bank should have lost at least $350 million to $450 million off its market cap yesterday when it accepted and admitted to the fact that it committed equity trading fraud.
Once again, we have a major bank reporting “Equity trading fraud”. Banks were established long ago to instill confidence that people could put their money in a safe place. But over the last few decades, and especially since the home mortgage fraud blew up the economy and tax payers were forced to bail out the banks, public opinion of banks has turned negative.
Sadly, lots of other firms admitted to precisely the same charges, albeit under pressure from European Union (EU) authorities.
Deutsche Bank was among the firms implicated in a sweeping LIBOR interest rate scandal a few years ago. A microscopic shift in the LIBOR moves millions of dollars around the globe.
Just last month, Deutsche Bank settled charges that it manipulated gold and silver prices. Deutsche Bank is one of six sued over alleged fixing of precious metals.
Bankers and financial firms are increasingly being caught lying and taking advantage of a system that depends on their integrity.
May 26, 2016: Lockheed Martin Corp received $321 million to continue LRASM integration and test program. Lockheed Martin has received a $321.8 million sole-source contract from the U.S. Navy for…
May 26, 2016: Lockheed Martin Corp received $321 million to continue LRASM integration and test program. Lockheed Martin has received a $321.8 million sole-source contract from the U.S. Navy for the continuation of the Long Range Anti-Ship Missile (LRASM) integration and test phase.
The integration and test contract funds continuation of LRASM flight testing and integration onto the U.S. Air Force B-1B and the U.S. Navy F/A-18E/F aircraft. LRASM early operational capability for the U.S. Air Force and Navy is expected in 2018 and 2019 respectively.
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May 25, 2016: Lockheed Martin Corp to build guidance and control systems for MK 48 torpedoes under U.S. Navy contract valued at up to $425 million. Lockheed Martin will provide the U.S. Navy the latest advancements in sonar systems under a contract valued at up to $425 million for guidance and control systems for the MK 48 Mod 7 torpedo, part of a five-year effort to increase the inventory of the MK 48 Mod 7 heavyweight torpedoes for the submarine fleet.
Under this new contract, Lockheed Martin will provide fully integrated guidance and control sections to increase the inventory of MK 48 torpedoes over several years. There is potential for production orders of more than 250 torpedoes over the next five years for the U.S. Navy, which are used by all classes of submarines as their anti-submarine warfare (ASW) and anti-surface warfare (ASuW) weapon.
May 19, 2016: Lockheed Martin Corp was awarded a $331 million US Army contract. Lockheed Martin Missiles and Fire Control, Grand Prairie, Texas, was awarded a $331,760,390 foreign military sales, undefinitized contract (Israel, Finland, Jordan, Singapore) for Guided Multiple Launch Rocket System (GMLRS) alternative warhead rocket pods (quantity: 290).
April 26, 2016: Lockheed Martin Corp reports Q1 2016 EPS of $2.58 versus the $2.51 estimate. Revenue also beat coming in at $11.7 billion versus the $11.1 billion estimate.
The CEO says, “We achieved strong operational and financial results this quarter and took actions to further strengthen our competitive and strategic position in the market. We’re confident that these actions will increase value for both our customers and stockholders.”
March 24, 2016: Lockheed Martin Corp was awarded a $1,527,352,469 modification (P00010) to previously awarded contract FA8625-14-C-6450 for C-130J multi-year production aircraft. This modification is to fully fund and subsume advance procurement funding for long-lead items previously awarded via modification P0004 associated with 28 fiscal 2016 C-130J aircraft.
Lockheed Martin Aeronautics Co. awarded a $179,916,000 fixed-price-incentive, firm-target modification to a previously awarded advance acquisition contract (AAC) N00019-C-16-0033 for the advance procurement of long lead time materials, parts, components, and effort to maintain the planned production schedule for low-rate initial production (LRIP) Lot 11 F-35 aircraft.
March 17, 2016: Lockheed Martin Corp awarded 5-year task order with Veterans Affairs worth $262 million. The company was awarded one of two Task Orders with the U.S. Department of Veterans Affairs (VA) Veterans Benefits Administration (VBA) to streamline the processing of Veterans disability claims.
The five-year Task Order awarded under the Systems Made Simple Transformation Twenty One Total Technology (T4) contract, valued at $262 million, is a continuation of its work with VBA since 2012.
March 16, 2016: Lockheed Martin Corp was awarded a $197.6 million US Navy contract. The company was awarded a $197,578,594 modification to a previously awarded contract (N00024-13-C-5116) for Aegis combat system engineering agent efforts for the design, development, integration, test, and delivery of computer program baselines and associated technology insertion hardware design support for the next advanced capability build.
March 08, 2016: Lockheed Martin Corp Sikorsky unit was awarded a $387,181,200 modification (P00333) to contract W58RGZ-12-C-0008 to exercise the option for 35 UH-60M helicopters.
February 29, 2016: Lockheed Martin Corp was awarded a $769,511,730 modification to a previously awarded cost-plus-incentive-fee, fixed-price-incentive-firm contract (N00019-15-C-0114) for recurring logistics sustainment services support for delivered F-35 Lightning II aircraft for the Air Force, Marine Corps, Navy, non-Department of Defense participants, and foreign military sales customers.
February 16, 2016: Drexel Hamilton reiterates a Buy rating on Lockheed Martin Corp, and sets a price target of $230.
February 11, 2016: Lockheed Martin Corp was awarded $142M, $81M, and $47M in US Navy contracts. Here’s the breakdown:
– $141,936,871 value firm-fixed-price, undefinitized contract action for the P-3B modernization program for the government of Greece, which will provide an extension of service life by 15,000 flight hours.
– $81,386,343 cost-plus-fixed-fee contract for requirements decomposition and development of Block 4 modernization program capabilities in support of the F-35A/B/C aircraft.
– $47,000,000 for undefinitized delivery order 0026 against a previously issued basic ordering agreement (N00019-14-G-0020).
February 03, 2016: Pentagon reportedly requests 13 additional F-35 jet fighters from Lockheed Martin Corp in a 5-year purchase plan. Navy also requesting 16 additional Boeing F/A-18E/F Super Hornets through 2021.
January 28, 2016: Lockheed Martin Corp awarded a $198,729,140 modification (P00018) to a previously awarded fixed-price contract (HQ0147-14-C-0011) for production of 20 additional Lot 8 Interceptors and associated production support efforts for the Missile Defense Agency Terminal High Altitude Area Defense Project Office (CLIN 8000).
January 27, 2016: Wolfe Research raised Lockheed Martin Corp to an Outperform rating from Peer Perform.
January 26, 2016: Lockheed Martin Corp reports Q4 EPS of $3.01 versus $2.93 estimate, and revenue of $12.9 billion versus $12.1 billion estimate.
CEO: “The successful closure of the Sikorsky acquisition and completion of the strategic review of our IS&GS businesses, coupled with our record backlog, position the corporation for future growth and value creation for our customers and our stockholders.”
January 06, 2016: RBC raised Lockheed Martin Corp to an Outperform rating, and set a price target of $250. RBC raised the price target to $250 from $220. RBC analyst says that the DoD budget is back on a growth path. The FY16 budget outcome was better than expected, and this should put upward pressure on estimates moving forward, complementing Lockheed’s existing growth from defense exports. GuerillaStockTrading alerted you to the DoD increased budget back in October as a catalyst for DoD contractors.
January 3, 2016: More details have just been released about the contract reported on December 30, 2015. Sources now say that this contract has a total value of $5.3 billion or 400% higher than the original report of $1.06 billion.
Lockheed Martin will deliver 78 C-130J Super Hercules to the U.S. government through a C-130J Multiyear II contract, which was announced by the U.S. government on Dec. 30, 2015. The Department of Defense announced the award of more than $1 billion in funding for the first 32 aircraft of the Multiyear contract. The overall contract, worth $5.3 billion, provides Super Hercules aircraft to the U.S. Air Force (30 MC-130Js, 13 HC-130Js and 29 C-130J-30s) and the U.S. Marine Corps (six KC-130Js). Also through this contract, the U.S. Coast Guard has the option to acquire five HC-130Js. Aircraft purchased through the multiyear contract will deliver between 2016 and 2020.
December 30, 2015: Lockheed Martin Corp was awarded a $1.06 billion modification (PZ0001) to contract FA8625-14-C-6450 for C-130J multi-year production aircraft by the DoD. Contractor will provide 32 C-130J aircraft in the following configurations: 13 C-130J-30, five HC-130J, 11 MC-130J, two KC-130J and one U.S. Coast Guard HC-130J aircraft.
December 30, 2015: Lockheed Martin Corp was awarded a $142,750,920 firm-fixed-price, foreign military sales contract for 12 High Mobility Artillery Rocket Systems with increased crew protection cabs incorporating sapphire transparent armor glass, associated training, spares, software, modernization updates, and planned enhancements and product improvement modifications for the United Arab Emirates.
December 28, 2015: Lockheed Martin Corp (LMT Updated Trend Analysis) was awarded a $528,470,864 modification (P00016) to a previously awarded fixed-price contract HQ0147-14-C-0011 for production of Lot 7 and Lot 8 Interceptors, one-shot devices, and associated production support efforts for the Missile Defense Agency Terminal High Altitude Area Defense Project Office.
December 21, 2015: Lockheed Martin Corp. announced that their Lockheed Martin Aeronautics division in Fort Worth, Texas, is being awarded a $1.2 billion advance acquisition contract for the advance procurement of long lead time materials, parts, components and effort to maintain the planned production schedule for F-35 low rate initial production lot 11 aircraft. The advance acquisition effort includes 80 F-35A aircraft (28 for the U.S. Air Force; 6 for the government of Norway; 4 for the government of Turkey; 8 for the government of the Netherlands; 8 for the government of Australia; 10 for the government of Israel; 6 for the government of Japan; and 10 for the government of South Korea); 7 F-35B aircraft (6 for the U.S. Marine Corps; and 1 for the United Kingdom); and 4 F-35C aircraft for the U.S. Navy. This contract also includes an undefinitized contract action for production of 2 F-35A aircraft for the U.S. Air Force and F-35C aircraft for the U.S. Navy. Work will be performed in Fort Worth, Texas (55 percent); El Segundo, California (15 percent); Warton, United Kingdom (10 percent); Orlando, Florida (5 percent); Nashua, New Hampshire (5 percent); Baltimore, Maryland (5 percent); and Nagoya, Japan (5 percent), and is expected to be completed in December 2019. Fiscal 2015 aircraft procurement (Air Force, Navy), fiscal 2016 aircraft procurement (Air Force, Navy, Marine Corps), non-U.S. DoD partner and foreign military sales funds in the amount of $847,929,604 are being obligated at time of award, none of which will expire at the end of the current fiscal year. This contract combines purchase for the U.S. Air Force ($401,509,516; 34.3 percent); U.S. Navy ($256,433,369; 21.9 percent); U.S. Marine Corps ($106,500,000; 9.1 percent); non-U.S. DoD partners ($207,069,044; 17.7 percent) and foreign military sales ($199,694,560; 17 percent) under the Foreign Military Sales program. This contract was not competitively procured pursuant to FAR 6.302-1. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity (N00019-16-C-0033).
December 17, 2015: Lockheed Martin Corp was awarded a $360 million US Army contract, while the Sikorsky unit was awarded a $145 million contract. The awarded $360,667,452 modification (P00029) to foreign military sales contract (UAE, Saudi Arabia, Korea) W31P4Q-14-C-0034 is for PATRIOT PAC-3 modification price requirements and additions. The Sikorsky Aircraft division was awarded a $145,136,040 modification (P00281) to foreign military sales contract W58RGZ-12-C-0008 to procure 10 green MH-60R helicopters for the Royal Saudi naval forces.
December 16, 2015: Lockheed Martin (LMT Updated Trend Analysis) was awarded a $215,777,416 firm-fixed-price multi-year incrementally-funded foreign military sales (India) contract for Modernized Target Acquisition Designation/Pilot Night Vision Systems (M-TADS/PNVS) for Apache helicopters.
December 14, 2015: Lockheed Martin Corp (LMT Updated Trend Analysis) was awarded a $1,094,983,588 modification (P00028) to foreign military sales (Korea, Saudi Arabia, Qatar) contract W31P4Q-14-C-0034 for Patriot Advanced Capability production (PAC-3). Work will be performed in Grand Prairie, Texas; Lufkin, Texas; Camden, Arkansas; Chelmsford, Massachusetts; Ocala, Florida; Huntsville, Alabama; and Anaheim, California, with an estimated completion date of June 30, 2019.
Lockheed Martin release this video years ago about how the PAC-3 system works, thanks to Jacob Kenworthy for posting:
December 08, 2015: Lockheed Martin Corp selected to deliver AIR 5428 Pilot Training System in Australia. This is a 7-year program with value of AU$1.2 billion. Australian Department of Defence has awarded the AIR 5428 Pilot Training System contract to Lockheed Martin-led Team 21 to train the next generation of Australian Defence Force pilots.
Royal Australian Air Force’s Air Commodore Adam Brown, Air Vice-Marshal Leigh Gordon, AM, CSM and Lockheed Martin Australia representatives, Raydon Gates and Jon Rambeau sign the Australian Pilot Training System contract.
The initial seven year program is valued at AU$1.2 billion. Performance-based options for up to 25 years will provide the opportunity to extend the length and increase the value of the total contract. Lockheed Martin will lead the delivery of an integrated solution tailored for all future pilots for the Royal Australian Air Force, Royal Australian Navy and the Australian Army.
December 7, 2015: Lockheed Martin won two huge contract today worth a combined $672 million. The first contract for $354 million was awarded to Lockheed Martin’s Sikorsky unit by the US Army. The contract awarded was a $354,156,879 modification (P00309) to contract W58RGZ-12-C-0008 for funding for the Navys fifth program year for 29 MH-60R helicopters, and to fund associated program and logistics support. The second contract for $318 million was awarded to Lockheed Martin by the DoD. The contract awarded was a $318,339,617 modification (P00001) to foreign military sales (partial) contract W31P4Q-15-C-0151 for Hellfire II missile hardware/component production requirements for the Army, Air Force, and foreign military sales customers Korea, Egypt, Pakistan, Iraq, India, Saudi Arabia, Tunisia, and Indonesia. Work will be performed in Orlando and Ocala, Florida; and Troy, Alabama, with an estimated completion date of Oct. 31, 2018
Armyreco published this video showing several Lockheed Martin Hellfire missiles being tested:
December 03, 2015: Lockheed Martin Corp (LMT Updated Trend Analysis) awarded a $302 million USAF contract. The company was awarded a $302,222,015 fixed-price incentive firm target modification to previously awarded contract FA8682-16-C-0005 for the Joint Air-to-Surface Standoff Missile (JASSM) program. Contractor will provide JASSM production, system upgrades, integration, sustainment, management and logistical support. Work will be performed at Troy, Alabama, and is expected to be complete by June 29, 2019.
December 01, 2015: Lockheed Martin Corp was awarded a $914,000,000 contract to upgrade F-16 aircraft for the government of Singapore. Work will be performed at Fort Worth, Texas, and is expected to be complete by June 30, 2023.
November 30, 2015: Lockheed Martin Corp recent acquisition of Sikorsky Aircraft is paying off. Sikorsky Aircraft was awarded an $833,339,080 modification to contract W58RGZ-12-C-0008 for sustaining, Army fixed engineering sustaining, program management/systems engineering sustaining, Army provisioning, Army technical publications, other integrated logistics support, contractor manpower reporting, packaging handling storage and transportation, and advance procurement funding.
November 22, 2015: Lockheed Martin Corp UK to buy more F-35 jets, boost anti-terror budget. The UK plans to increase the number of stealth fighter jets it can launch from aircraft carriers over the next decade, will also increase anti-terrorism spending by 30 percent, finance minister George Osborne said on Sunday. “We are going to step up the aircraft carrier punch of the United Kingdom. We are going to make sure that when these aircraft carriers are available they are going to have planes that can fly from them in force… By 2023, we will be able to have 24 of these jets, some of the most powerful in the world, the F-35, on the decks of these carriers,” Osborne told BBC television.
November 21, 2015: Lockheed Martin Corp has delivered another Littoral Combat Ship to the US Navy which is now called the USS Milwaukee and it entered active service today after a ceremony in Wisconsin. Littoral Combat Ship is a plug-n-play ship where everything is configured for the mission at hand. Not even the guns are hard mounted and wired into the ship but instead are plug-in box containers. This makes the Littoral Combat Ship highly adaptable to any mission. “The USS Milwaukee is a warship with capabilities unlike any others,” said Stephanie C. Hill, vice president of Ship & Aviation Systems for Lockheed Martin Mission Systems and Training business.
US Military Videos published this video about the Littoral Combat Ships that Lockheed Martin are currently delivering to the US Navy:
November 10, 2015: Lockheed Martin Corp (LMT Updated Trend Analysis) has been awarded a $969 million contract to build 17 C-130J military transport aircraft. The work is expected to be completed by April 2020.
November 03, 2015: Lockheed Martin Corp awarded $5.37B US Navy contract. Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded an undefinitized contract not-to-exceed $5,370,955,495 to the formerly awarded Lot IX F-35 Lightning II Joint Strike Fighter advance acquisition contract (N00019-14-C-0002). This modification provides for the procurement of 41 F-35A aircraft, including 26 F 35As for the Air Force; six F 35As for Norway; seven F-35As for Israel; two F-35As for Japan; 12 F-35Bs, including six for the Marine Corps and six for the British Royal Navy; and two F-35Cs for the Navy.
October 30, 2015: Lockheed Martin Corp awarded $262M US Air Force contract. Lockheed Martin Missiles and Fire Control, Orlando, Florida, has been awarded a $262,844,909 firm fixed-price contract with minimal cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract for sustainment.
October 28, 2015: Lockheed Martin Corp Awarded $478M USAF contract. Lockheed Martin Aeronautics awarded a $477,696,108 modification (P00652) to exercise the option on previously awarded contract FA8611-08-C-2897 for F-22 sustainment.
October 26, 2015: Lockheed Martin Corp Awarded $260M USAF contract. The company announced they were awarded a $260,078,333 modification (P00004) to previously awarded contract FA8625-14-C-6450. Contract provides advance procurement funding for long lead efforts associated with 28 fiscal 2016 C-130J aircraft.
October 22, 2015: Lockheed Martin Corp (LMT Updated Trend Analysis) U.S. Air Force awards $176.1M in new contracts for sensor-enhanced sniper pods and upgrade kits, for Sniper Advanced Targeting Pod-Sensor Enhancement (ATP-SE) production and upgrade kits that will convert Sniper ATPs to the ATP-SE configuration. Sniper ATP-SE has improved sensors, a two-way datalink and algorithms that increase air-to-ground, air-to-air and maritime targeting capability. Upgrade kits consist of line replaceable units that will be installed in fielded ATPs. Deliveries of pods and upgrade kits will begin in fourth quarter 2016.
October 21, 2015: Lockheed Martin awarded $784M DoD contract with options to develop, deploy, test, and operate a Long Range Discrimination Radar (LRDR). The LRDR will provide persistent discrimination capability to the Ballistic Missile Defense system to support the defense of the homeland.
October 20, 2015: Lockheed Martin reports Q3 $2.77 v $2.70e, R$11.5B v $11.0Be
– Narrows FY15 $11.30 v $11.19e, R$45.0B v $44.5Be (prior $11.00-11.30, R$43.5-45.0B)
– Affirms FY15 orders $43.5-45B (prior $43.5-45.0B)
– Narrows FY15 consolidated op profit $5.55B (prior $5.425-5.575B)
– Guides initial FY16 Rev comparable with FY15, Op margin 11.0-11.5%
– The Corporation’s preliminary outlook for 2016 does not reflect any impacts from the ongoing strategic review or its pending acquisition of Sikorsky.
– Sees $2B in buybacks for 2016
– Operating margins 11.8% v 12.5% y/y
– Backlog $71.7B v $72.8B q/q
– Aeronautics rev $3.92B v $3.54B y/y
– IS&GS rev $1.87B v $1.95B y/y
– Missiles & fire control rev $1.94B v $1.91B y/y
– Space Systems rev $1.93B v $2.03B y/y
CEO: “Our strong operating results this quarter are a reflection of our corporate-wide focus on program execution and delivery of value to customers and shareholders. As we look ahead to 2016, we will remain focused on performing with excellence and providing affordable and innovative solutions for our customers, while strategically positioning our business portfolio on the best path to long-term growth and value for the corporation.”
October 19, 2015: U.S. Army buys seven more Q-53s for $85M. The U.S. Army announced that it will buy an additional seven Q-53 systems valued at $85 million, ensuring that the Q-53 continues to be the radar of choice to keep troops safe from persistent insurgent attacks. Since Lockheed Martin won the development contract for the Q-53 radar in 2007, the company has won four additional contracts (for a total of 97) and delivered 55 systems on-time and on-budget to the U.S. Army. Work on the radars is performed at Lockheed Martin facilities in Syracuse, N.Y., Moorestown, N.J., Owego, N.Y. and Clearwater, Fla. The Army is expected to award a full-rate production contract by early 2016, covering an anticipated 77 additional systems.
October 14, 2015: Lockheed’s acquisition of Sikorsky said to potentially close by late October. Reminder: Jul 20th: LMT: Confirms to acquire Sikorsky Aircraft for $9.0B; to review IT and technical services business.
October 13, 2015: Awarded $305M US Air Force contract Lockheed Martin Missile and Fire Control, Orlando, Florida, has been awarded a $305,457,460 firm-fixed-price and fixed-price incentive (firm target) contract for the Joint Air-to-Surface Standoff Missile production. Contractor will provide Joint Air-to-Surface Standoff Missile production, system upgrades, integration, sustainment, management, and logistical support.
Lockheed Martin Corporation (LMT Updated Trend Analysis) is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Its Space Systems provides satellites, strategic and defensive missile systems, and space transportation systems. Its Missiles and Fire Control segment provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems, and manned and unmanned ground vehicles. Its Aeronautics segment offers combat and air mobility aircraft, and unmanned air vehicles. The company’s Information Systems & Global Solutions segment provides technology systems, integrated information technology solutions, and management services; and supports customers in data analytics, cyber security, air traffic management, and energy demand management. This segment also provides network-enabled situational awareness; delivers communications, and command and control capabilities; integrates complex global systems that help customers to gather, analyze, and distribute critical intelligence data; and offers classified systems and services in the support of national security systems. The company’s Mission Systems and Training segment offers ship and submarine mission and combat systems; mission systems and sensors for aircraft; sea and land-based missile defense systems and radar systems.
Video of Lockheed Martin’s F-35:
The Lockheed Martin F-22 Raptor – World’s Deadliest Jet Fighter Plane – Documentary Films