Northrop Grumman beats second quarter forecasts
Northrop Grumman on July 26 reported second-quarter net income of $552 million.
The Falls Church, Va.,-based company said it had profit of $3.15 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.
The defense contractor posted revenue of $6.38 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $6.21 billion.
Northrop Grumman expects full-year earnings to be $12.10 to $12.40 per share.
Northrop Grumman shares have risen 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 11 percent. The stock has climbed 20 percent in the last 12 months. AP
Raytheon tops second quarter forecasts
Raytheon on July 27 reported second-quarter net income of $553 million.
The Waltham, Mass.,-based company said it had profit of $1.89 per share. Earnings, adjusted to extinguish debt, were $1.98 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The defense contractor posted revenue of $6.28 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $6.23 billion.
Raytheon expects full-year earnings to be $7.35 to $7.50 per share, with revenue in the range of $25.1 billion to $25.6 billion.
Raytheon shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 11 percent. The stock has risen 25 percent in the last 12 months. AP
Russia says four military police battalions deployed to Syria
Russia’s defense minister says four battalions of Russian military police are currently deployed in safe zones in Syria.
Russia and Iran, both supporters of Syrian President Bashar Assad, and Turkey, which backs rebels fighting Syrian government forces, agreed on a plan in May to establish four “de-escalation” zones in Syria, pressing Assad’s air force to halt flights over designated areas across the war-torn country.
Defense Minister Sergei Shoigu told Russian news agencies July 26 that the four battalions are now operating in the safe zones. The chief of the Russian General Staff last week mentioned military police in just one zone and did not give any numbers.
Russia has supported Assad’s offensive against Islamic State militants since 2015, and sent the first battalion of military police to Syria in December. AP