Archive for 'Lockheed Martin'

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Is it Bull or Bear? Does anyone with our strategy really care?

With our Robbing The Market Blind strategy, it doesn’t really make a difference. Robbing the Markets Blind is devised to win in either type of market.

With the Europe/Greek/Debt/ Euro somewhat resolved, the markets went haywire with wooopa today. Maybe someone forgot about the US ECONOMY – with it’s financial, banking, jobs, and housing issues.

Since I hold a good number of dividend stocks long, it was nice to see today’s action….however with these very strong historical stocks, I was going to get the dividends regardless of the market type. Also playing these underlying stocks with ultra conservation options plays, my odds of winning, by  robbing the market and stocks blind, those are high in either type of market.

Since the market is starting to show some positive momentum, I am returning as MightyMO back to this playing field. That said, I will be here until the end of October. Starting Nov 1, all the MO’s will be gone for at least a week as we get very invovled in setting up ROB THE MARKETS BLIND. When we return later in November, I hope to have certain aspects of the process ready.

The most recent picks by «MightyMo» are:
A buy rating on McGraw-Hill (NYSE: MHP),
a buy rating on Lockheed Martin (NYSE: LMT) and
a buy rating on Mead Johnson Nutrition (NYSE: MJN).

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Lockheed Martin (NYSE: LMT) Announces Layoff of 1,200

Lockheed Martin (NYSE: LMT) Announces Layoff of 1,200-Image by Getty Images via @daylife

Lockheed Martin Space Systems Company, a major business area of the Lockheed Martin Corporation (NYSE: LMT), announced today employment reductions designed to address affordability and improve its competitive posture.

Space Systems, which currently employs approximately 16,000 employees in 12 states, will implement a broad-based workforce reduction of roughly 1,200 employees by year-end.  It is anticipated that middle management will be reduced by 25 percent, with significantly smaller percentage impacts in other levels and disciplines.

Operations across the country will be affected, with the largest impact expected at the company’s sites in Sunnyvale, Calif., the Delaware Valley region of Pennsylvania, and Denver, Colo., where several of the company’s major programs are transitioning out of development.

Joanne Maguire, executive vice president, Lockheed Martin Space Systems, said, “In today’s economic environment, we have two choices: make painful decisions now or pay a greater price down the road. This is a difficult but necessary action to improve efficiencies and make our business more competitive going forward.  We will remain relentlessly focused on achieving operational excellence and mission success for our customers as we position to deliver more affordably in the future.”

Space Systems will offer eligible salaried employees an opportunity for a voluntary layoff to minimize the number of involuntary layoffs that will occur.  The company also will provide career transition support to those affected by this workforce reduction.

Lockheed Martin Space Systems Company designs, develops, tests, manufactures, and operates a full spectrum of advanced-technology systems for national security, military, civil government, and commercial customers. Chief products include human space flight systems; a full range of remote sensing, navigation, meteorological and communications satellites and instruments; space observatories and interplanetary spacecraft; laser radar; ballistic missiles; missile defense systems; and nanotechnology research and development.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $45.8 billion.

Media Contacts:

Steve Tatum, 408-742-7531; email, stephen.o.tatum@lmco.com
Charles Manor, 408-742-3397; email, Charles.manor@lmco.com

http://www.lockheedmartin.com

Lockheed Martin

Lockheed Martin-Image by Getty Images via @daylife

Today Lockheed Martin (NYSE: LMT) Chairman and Chief Executive Officer Bob Stevens delivered an update on key programs and shared details of the company’s affordability initiatives to journalists attending the company’s 2011 Media Day.

Referring to a “new reality” for the Department of Defense and Lockheed Martin, Stevens said “we know the challenges that we will face together are significant. The global security environment is only growing more volatile and complex, while economic resources are sure to be constrained as we focus on deficit and debt reduction, which is why we continue to give cost reduction and affordability a top priority across the company.”

“Since our last Media Day we have consolidated facilities, divested two businesses, reduced the senior employee ranks by 26 percent, reduced expenses, frozen the salaries of our most senior employees and are critically examining every process, purchase, and transaction to get as lean and agile as we can be,” Stevens continued.

In his remarks, Stevens outlined more than $500 million in cost reductions from recent initiatives, including $350 million attributed to the recent voluntary executive separation program (VESP), and several hundred million dollars in additional overhead cost savings in 2011 to be built into forward pricing proposals.

Noting that Lockheed Martin was off to a good start in 2011, Stevens said the company’s major programs are performing well and earning customer confidence.  “In our business, nothing substitutes for solid execution and I’m pleased to say the majority of our programs are on plan.”

Stevens credited the company’s success to the character and commitment of its 126,000 employees.

“In this time of great challenge…perhaps the area in which I am most proud is the area where we have remained very constant,” Stevens said. “And that area is the character and culture of this enterprise; by maintaining absolute integrity and the highest ethical standards in business conduct, principled leadership, and the dedicated professionalism in all that we do and responsible corporate citizenship.”

Stevens reinforced the Corporation’s dedication and focus on delivering for its customers, “we’ll focus on their missions and we’ll continue to focus on the work we do to support them.  We all feel it’s a great privilege to serve the people that we get to work for.”

To read the full transcript of Stevens’ Media Day remarks, click here.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $45.8 billion.

For additional information, visit our Web site:

http://www.lockheedmartin.com
http://www.lockheedmartin.com

Lockheed Martin (NYSE: LMT) Gets Request for New Missile

Lockheed Martin (NYSE: LMT) Gets Request for New Missile-Image via Wikipedia

Lockheed Martin [NYSE: LMT] announced today that it will respond to the government’s Request for Proposal (RFP) for the next phases for the Joint Air-to-Ground Missile (JAGM).  The U.S. Army Aviation and Missile Command issued the RFP for Engineering and Manufacturing (EMD) and Low-Rate Initial Production (LRIP) on JAGM on April 13.

“Lockheed Martin’s JAGM builds on three of the most trusted precision-guided weapons on the battlefield today: HELLFIRE, LONGBOW and Javelin,” said Frank St. John, vice president of Tactical Missiles at Lockheed Martin Missiles and Fire Control.  “We are prepared to provide U.S. Army, Navy and Marine Corps warfighters with the next product in that line, an affordable weapon that will offer the decisive edge in combat.”

The scope of the JAGM EMD contract will be to “complete all major component and subsystem critical design reviews (CDRs), a system-level CDR, component and subsystem testing, design verification testing, engineering development tests and production prove-out tests on the six threshold JAGM platforms.”  In addition to the EMD requirements, the RFP calls for three fixed-price LRIP options, as well as two fixed-priced advanced procurement items for “long-lead” components that drive the hardware delivery schedule.

Lockheed Martin is partnered with some of the industry’s leading suppliers on the JAGM program.  Aerojet, a GenCorp [NYSE: GY] company, will provide the JAGM rocket motor for all six threshold JAGM platforms.  GenCorp is headquartered in Sacramento, Calif., with production facilities in Camden, Ark.  Marvin Engineering, headquartered in Inglewood, Calif., will provide launchers for all six threshold platforms.  General Dynamics Ordnance and Tactical Systems (GD-OTS), a business unit of General Dynamics [NYSE: GD], will provide the multi-purpose warhead with high HELLFIRE commonality.  GD-OTS is headquartered in Saint Petersburg, Fla., with production in Niceville, Fla.

“We are confident our proposed JAGM weapon system can provide significant performance advantages that will save lives,” St. John said.  “We are also confident that with hot, high-volume production lines already in place for HELLFIRE, Javelin and the M299 launcher family, we can provide that vital performance edge at an affordable price and with best value over program life.”

Work on the JAGM program will be performed in Orlando and Ocala, Fla., and Troy, Ala., as well as at suppliers’ facilities across the U.S. and in the U.K.  Contract award is expected during second quarter 2011.

Initial operational capability (IOC) of JAGM on the Army’s AH64D Apache, the USMC’s AH1Z Cobra attack helicopter and the Navy’s F/A18E/F Super Hornet jet fighter is scheduled for 2016.  IOC for the Navy’s MH60R Seahawk armed reconnaissance helicopter, the Army’s OH58 cockpit and sensor upgrade program (CASUP) for the Kiowa Warrior armed reconnaissance helicopter and the Army’s extended range multi-purpose unmanned aerial system is 2017.

Based on the IOC schedule, platform integration on the first three platforms will occur during the 48-month EMD phase.  Platform integration on the next three is scheduled to begin during EMD and continue into the LRIP phase.

Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. The company makes significant contributions to most major U.S. missile defense systems and participates in several global missile defense partnerships.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $45.8 billion.

For additional information, visit our website: http://www.lockheedmartin.com

 

Lockheed Martin (NYSE: LMT) Gets Contract From U.S. Army

Lockheed Martin (NYSE: LMT) Gets Contract From U.S. Army-Image via Wikipedia

Lockheed Martin (NYSE: LMT) has received a $139.6 million contract to provide 44 combat-proven High Mobility Artillery Rocket Systems (HIMARS) to the U.S. Army. This order will increase the Army’s HIMARS launcher fleet to 375, with deliveries continuing through January 2013. Work on the contract will be performed at the company’s facilities in Camden, AR, and Grand Prairie, TX.

“HIMARS brings soldiers an agile, responsive and accurate delivery system of extremely precise fires,” said Col. David J. Rice, U.S. Army program manager for Precision Fires, Rocket and Missile Systems. “HIMARS continues to impress everybody with its performance and versatility, the system is reliable, robust and exceptionally effective in theater.”

The system can accommodate a six-pack of Guided MLRS rockets or one Army Tactical Missile System missile. HIMARS, a highly mobile artillery rocket system based on the Army’s FMTV five-ton truck, is designed to launch the entire MLRS Family of Munitions.

“Half of the more than 1,900 Guided Multiple Launch Rocket System (MLRS) rockets expended by the U.S. Army and Marine Corps in Iraq and Afghanistan have been fired from HIMARS,” said Scott Arnold, vice president for Precision Fires at Lockheed Martin Missiles and Fire Control. “HIMARS has proven itself to soldiers to be highly reliable and relevant in today’s battlefield, and its operational readiness rate continues to exceed requirements, a testament to the quality of the system.”

HIMARS is designed to enable troops to engage and defeat artillery, air defense concentrations, trucks, light armor and personnel carriers, as well as support troop and supply concentrations, HIMARS can move away from the area at high speed following missile launch, well before enemy forces are able to locate the launch site. The U.S. Army and Marines operate HIMARS, as do several international allies.

Because of its C-130 transportability, HIMARS can be deployed into areas previously inaccessible to heavier launchers and provides a force multiplier to the modular brigade. It also incorporates the self-loading, autonomous features that have made MLRS the premier rocket artillery system in the world. The HIMARS fire control system, electronics and communications units are interchangeable with the existing MLRS M270A1 launcher, and the crew and training are the same. HIMARS is a crucial component in today’s military theaters of operation.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 132,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2010 sales from continuing operations were $45.8 billion.

For additional information, visit our Web sites:

http://www.lmco.com
http://www.lockheedmartin.com

Lockheed Martin (NYSE: LMT) Gets Navy Contract for $97 Million

Lockheed Martin (NYSE: LMT) Gets Navy Contract for $97 Million-Image via Wikipedia

The U.S. Navy awarded Lockheed Martin (NYSE: LMT) a $97M contract for the production of the Aegis Weapon System for the DDG-113 destroyer, plus advanced procurement funding for two additional systems for DDGs 114 and 115.

“We are in a dynamic security and acquisition environment that focuses on affordability and capability like never before,” said U.S. Navy Captain Jon Hill, the Major Program Manager, Integrated Combat Systems at Program Executive Office, Integrated Warfare Systems. “The Aegis system has transformed to meet changing customer missions and needs at a cost-effective price for more than 40 years.”

The contract includes four Aegis multi-mission signal processors — three for the destroyers and an additional unit for the Navy’s Surface Combat System Center on Wallops Island, Va. The contract also contains an option for an Aegis Ashore system, which will adapt the sea-based Aegis Ballistic Missile Defense technology to a land-based system to protect U.S. and allied troops in Europe against short- and medium-range ballistic missile threats.

“This contract continues the Aegis production line and shows the confidence the customers have in our ability to improve affordability while adding new capabilities that continually transform Aegis to meet changing customer needs and missions,” said Carmen Valentino, Lockheed Martin vice president of Future Surface Combatant programs. “Lockheed Martin has worked side-by-side with the Navy to evolve the Aegis system from its initial anti-air warfare role to integrated air and ballistic missile defense with expanded application to future Aegis Ashore sites.”

Aegis is the weapon system of choice for Australia, Japan, Norway, the Republic of Korea and Spain. Aegis-equipped ships have more than 1,200 years of at-sea operational experience and have launched more than 3,800 missiles in tests and actual operations.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 133,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.  The Corporation’s 2009 sales from continuing operations were $44.0 billion.

For additional information, visit our Web site: http://www.lockheedmartin.com

SOURCE Lockheed Martin

Lockheed Martin (NYSE: LMT) to Create Air Traffic System in Kazakhstan

Lockheed Martin (NYSE: LMT) to Create Air Traffic System in Kazakhstan-Image via Wikipedia

Lockheed Martin (NYSE: LMT) today signed a $49.9 million contract with Kazaeronavigatsia RSE, the air navigation service provider in the Republic of Kazakhstan. Lockheed Martin has been contracted to deploy additional Skyline® air traffic management automation systems, and maintain this national system through 2025. This contract will create the first national air traffic management system in the Republic of Kazakhstan.

“For many years, Lockheed Martin and Kazaeronavigatsia have enjoyed a strong partnership,” said John Mengucci, president of Lockheed Martin’s Information Systems and Global Solutions-Civil organization, at the signing at the 2010 Air Traffic Control Association (ATCA) Annual Conference and Exposition.   “We are privileged and excited to continue our collaboration to develop the region’s most advanced national air traffic management infrastructure.”

The Skyline® system is a comprehensive, commercial off-the-shelf solution that features flight data processing (FDP) and surveillance data processing (SDP) capabilities that can function as a tower, terminal area, procedural or flow monitoring system service. It provides a flexible configuration of features and functions to fit customer requirements.

This is the fifth contract awarded to Lockheed Martin as Kazaeronavigatsia enhances its capabilities to apply advanced technology to manage Kazakhstan’s national airspace. This new contract will allow for the installation of the Lockheed Martin Skyline® system in the new Almaty Area Control Center (ACC) and in thirteen airfield towers. It also will allow for upgrades of the Skyline® systems at the Astana ACC and the Aktobe ACC.

“Our decision to continue cooperation with Lockheed Martin on further modernization of our air traffic management system in Kazakhstan was based on the company’s reputation and proven ability to deploy systems on time and within the budget for our Astana and Aktobe ACC’s,” said Director General Sergey Kulnazarov of Kazaeronavigatsia RSE. “The new program will guarantee flawless operations of the Kazakhstan air traffic control system throughout its lifecycle.”

This contract follows a $15.5 million contract award to Lockheed Martin in 2007 to deploy a Skyline® air traffic management system at the ACC in Aktobe, Kazakhstan and four airfield towers.

Under this contract Kazakhstan established the first regional Civil-Military Coordination Centre “Omnyx.”

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 133,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s 2009 sales from continuing operations were $44.0 billion.

For additional information, please visit: http://www.lockheedmartin.com.

SOURCE Lockheed Martin