Raytheon raises outlook, but shares hit hard – Suppliers Share Wrap
Raytheon reported a net profit of USD728 million for, or USD1.94 a share, for 3Q2010. The result is up from USD490 million, or USD1.25 a share, a year earlier. The result included a one-time favourable tax settlement of USD170 million. Net sales were USD6.3 billion, compared with USD6.2 billion in 3Q2009.
The aerospace and defence company increased the upper range of its full-year profit forecast from USD5.28 per share to USD5.38 per share. In Jul-2010 the company estimated a full-year profit of USD5.13-5.28 per share.
Another major mover was Willis Lease, which gained 6.2% in trading yesterday. The company’s shares have lost nearly 20% of their value since the start of the year.
Selected Original Equipment Manufacturers daily share price movements (% change): 28-Oct-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 28-Oct-2010