Shares of Raytheon Co slumped nearly 6 percent on Thursday after the U.S. weapon...
- Shares of Raytheon Co slumped nearly 6 percent on Thursday after the U.S. weapons maker reported a jump in its quarterly profit but left its earnings outlook for the year unchanged.
The company reaffirmed it expected earnings per share from continuing operations to be between $11.40 and $11.60 in 2019. It also left its forecast for net sales for the year in a range of $28.6 billion to $29.1 billion. Shares of Waltham, Massachusetts-based Raytheon were down 5.5 percent to $175.31 in late morning trading.
Sales in the Raytheon’s intelligence, information and services unit , its second biggest by revenue, increased 12.3 percent to $1.78 billion in the quarter, helped by higher revenue from “classified programs.” “We saw IIS and SAS with strong performance and we improved their total year outlook. But those improvements at IIS and SAS, they were effectively offset by some decreases in the margin outlook at Missiles based upon the quarter in the year,” O’Brien said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
3M cuts 2019 profit outlook on weak China, shares fall 11 percentShares of 3M Co fell 11 percent on Thursday after the U.S. manufacturing conglom...
Read more »
Nintendo shares jump 17 percent after Tencent wins key China Switch sales approvalNintendo Co Ltd shares jumped 17 percent in morning Tokyo trade on Friday, a day...
Read more »
Asian shares dip; euro weighed by sagging German business moraleAsian shares slipped on Thursday as a surprise deterioration in German business ...
Read more »
Asian shares slip; German, Korean data hurt risk appetiteAsian shares slipped on Thursday as a surprise deterioration in German and South...
Read more »
Pinterest, Zoom shares surge in market debut after IPOsShares of Pinterest Inc surged 25 percent in their debut on Thursday, giving the...
Read more »
Fastly files for IPO, with class A shares to list on NYSEFastly Inc. has filed Friday for an initial public offering of class A shares. The "edge cloud" platform company, which allows developers to deliver digital experiences "at the edge of the internet," hasn't determined the number of shares it will sell. Fastly will have a dual class share structure, with class A shares entitled to one vote and class B shares entitled to 10 votes. The company has applied to have its class A shares listed on the New York Stock Exchange, under the ticker symbol "FSLY." Fastly recorded a net loss of $30.9 million on revenue of $144.6 million in 2018, after a loss of $32.5 million on revenue of $104.9 million in 2017. The lead underwriters of the IPO are BofA Merrill Lynch, Citigroup and Credit Suisse. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 29% year to date and the S&P 500 has gained 16%.
Read more »
Whirlpool profit beats on price hikes, shares jumpAppliances maker Whirlpool Corp beat analysts' estimates for quarterly prof...
Read more »
Facebook shares surge as Wall Street analysts rave over earnings: 'What a start to 2019'Wall Street was enamored Thursday morning with Facebook's first-quarter earnings report, with a handful of brokerages lauding its results.
Read more »
Thomas Cook shares rise on report of possible takeoverThomas Cook had put its airline business up for sale and closed stores this year, following a heat-wave in northern Europe last summer.
Read more »
Altria misses first-quarter earnings, revenue expectationsAltria shares slid 2% after the company missed first-quarter earnings, revenue expectations.
Read more »
SAP shares spike after Elliott reveals $1.3 billion stakeActivist investor Elliott revealed a $1.3 billion stake in SAP on Wednesday and said it supported a new management efficiency drive, sending shares in the German business software company to a record high.
Read more »