26 Burst results for "Raytheon Technologies"
"raytheon technologies" Discussed on Bloomberg Radio New York
"Futures point to a lower open this morning. The vics. It moves higher yields in the Treasury market their study this morning that 10 years about 1.35% on the commodities front. Every ti I could is just under $60 a barrel. Gold pushes higher. It's now just below $1800 an ounce and our good friend Bitcoin is lower at just over $53,000 per coin. Let's get some more color on those equity markets of Bloomberg Stock. Senator Davis and David you looking at I'm looking at Boeing shares to start Paul. They're down 3% in early trading. Some of the playmakers 777 jets were granted by United Airlines and buy carriers in Japan and South Korea. And just a moment ago, we got a headline say that the UK is also suspending flights of that plane specifically, uh, the 777 powered by the Pratt and Whitney 4000 jet engine made by Raytheon Technologies. This is the engine that over the weekend, I mean, failed in a flight out of Denver and then strewed parts all over one of the city suburbs that Pratt and Whitney 4000 made by Raytheon Technologies. Raytheon shares down 2% Tesla's lower by 3%, the industry news site elect track Reported. The electric vehicle makers stopped taking orders for the cheapest version with sport utility vehicle the model why we've also got an update on five reserves covert 19 vaccine. The one they developed with Germany's by on tack on Israeli study found was 89.4% effective it preventing lab confirmed infections that seem much moving. Fizer Bye on Tak up. 1.5% also up one half percent. Freeport Mack Moran, the copper producers higher after the metal rose above $9000 a ton to a nine year high in London, and then we turn to those deals. You were mentioning Paul people, you know financial up 10%. M and T Bank agreed by the lender for $7.6 billion of stock in the deal, uniting to Northeast banks MNT off about three quarters of a percent, and Cooper Tire and rubber up 19%. The tire maker agreed to a cash and stock takeover offer from Goodyear Tire. However, that's buried about $2.8 billion Goodyear off 3.5% and another deal for you for terror this to come in and mix water pipes of 7%. After accepting an all cash offer from quick create holdings. In fact, the $2.7 billion with debt, a couple of earnings reports and no dish network up 1%. These satellite broadcaster sports coronaries were well above. Analysts averaged estimate. The Bloomberg survey and Discovery two classes of shares publicly traded, one of 4.5% the other up seven. The cable channel owner reported fourth quarter profit to beat estimates. It's extremely service Discovery plus signed up more than 11 million years or since its debut last month. Back to the deal front principal financial up 4.5% people familiar with the matter, said activist investor Elliott Management bought a state in the life insurer Cole's up 8% a person from their the matter, said a group of activists. Investors have a 9.5% stake in the department store chain, and it's seeking Nine of 12 board seats. Then you have an activist investor.
"raytheon technologies" Discussed on Bloomberg Radio New York
"And analysts in over 120 countries. Mark Crumpton, This is Bloomberg. Thank you so much. Mark. Raytheon Technologies released his fourth quarter earnings and they did better than expected on revenue and on earnings per share while anticipating improvement in its commercial aviation business in the New year. Welcome to Raytheon CEO Greg Hey, some strains. Thank you so much for being with us, and I've been admonished to remind people that you had your merger closed, I guess just on April 3rd. So your beard doesn't quite work. You could start a new company in a sense. It's a little It's a little confusing when you look at the pro form of numbers, but it's April 3rd. We closed on the merger. The same day we spun off the carrier and notices Standalone public cos There was a Was a big year for us, but you've got a lot done. So explain exactly what you did get done and how you did it. Look when when the merger closed last April, we were in the middle, of course of the lockdown across the country and we were very fortunately, we moved to a remote work environment We've got about 190,000 people over 100,000 people were working remote. At the day of the merger close, so the team got after it. And I think importantly, back in April and may, as we looked at what was happening and the length of the downturn in commercial area, we knew we had to take some pretty dramatic actions. So we identified about $4 billion in cash actions that we could take. We saw took looking around $2 billion of cost actions that we could take in 2020 and Good news is we hit all of those targets? We were able to take out $2 billion in cash. About half of that, unfortunately, had to come from the people side of the business that was furloughs. That was layoffs. That was pay cuts, the all those really hard things to do. We also reduced our non discard discretionary spending Our engineering and development spend. And at the end of the year, I think the most important thing is the cash. We thought we were gonna get about $4 billion till when we got about 4.7 billion, So we were able Tonto year with Around $9 billion of cash on the balance sheet. Very, very strong liquidity position and really positioned us the business for the recovery that we think will happen later this year Commercial Arrow Tough year last year, I think detrimental margins you can imagine when you're losing commercial after market, which is where most of your money is made, and we saw a detrimental margins of north of 50%. We believe is the aftermarket comes back. We're going to see incremental margins of north of 80%. Because of all the costs were taken out. So a lot of hard work a lot of very tough decisions that the team had to make. But I'm proud of the way they came through it. And I think today the business is uniquely positioned for a recovery which will happen. Can't tell you what day but it will happen. Well, let's talk about the recovery for a second. I mean, for our audience to next, Make sure every understands Pratt and Whitney is part of your company. And that is commercial airspace. A lot of jet engines being made and you say you make a lot of the money actually, after market that is, as I understand the maintenance and the parts efforts when you're not finding their prints don't need all that stuff. Are you prepared for a real snap back? What if it comes back faster? You think given the cost cuts you've made Could you be caught out a little bit and not having the capacity to address that? So I think you know, even if it is, we think about a recovery this year. Maybe just put it in perspective. So for the year, we think our commercial traffic domestic traffics probably going to be up about 36%. That's still down about 35% from 2019 loads. So as an example one of the engines of Pratt Whitney makes is called the V 2500 powers. A 3 20 Airbus aircraft. We typically see about 1000 of those engines come in every year for a shop visit. For repair last year that was about 500. This year again. We'll see a recovery in that, but nowhere near back to the 1000. So we've retained the capacity Tol for the recovery, But we have taken out all of the I would say the folks that we need to to keep the operational lean. I don't have any concern about researching something. Everybody is trying to be cautious about how much they take out not to cut into the bone. Because people want to travel. They will travel again. It will take some time. But we're confident we're going to see the recovery this year not to back to her. It wasn't 19. It'll take several years but confident our approach in terms of the cost. Take out. What do you anticipating and therefore planning for with respect to military spending? So, interestingly, we ended the year roughly $67 billion in backlog. And as we think about how that will play out in 21 22. What we gonna see Organic growth of around 3 to 5% used to say that very carefully because it's part of the merger. Last year, we had to divest the couple of our military businesses. So the the actual reported number looks a little funky buddy. Think about 3 to 5% organically this year and next. On what is essentially a flat defense budget. And I think that's probably about as good as you could do it in this marketplace, and there's there's certain areas were Raytheon Technologies has a real advantage, obviously sensing or or radars, which is the heritage of racing on Also in the space sensing business and space, communications, business and ground traffic control, So ah lot of pieces of the puzzle within Raytheon Technologies. I think you know, we're pretty well aligned with what the emerging technologies are needed for the Department of Defense. What do you anticipate the long term changes in great hands? Business will be from the pandemic, and I'll give you a possible example. Which is how much commercial office space you need. I saw a report that maybe you have let your gonna be having less now because you've discovered people can work from home. You see longer term changes in the way you do business. I think it's it's a great question, David it is we have. When we first started this last, I guess. End of March when people started working from home. I was anxious to have everybody get back to the office is as soon as possible. Haven't be able to successfully run the company for the last 9 10 months now, remotely on DSI the advantages of having a remote workforce. I think it gives us incredible flexibility in terms of hiring the right people without having to pull full up stakes and move folks around so As we think about. We've got 32 million square feet of office space. What I've challenged the team is to find a way to reduce 25% of that. Now you never get rid of all of it, obviously, but because I think about it will probably have. Ah, Three different types of folks will be those who come to the office every day. You come to the factory floor every day, and they will perhaps be a third of the workforce. Maybe a third of the workforce that will permanently be working remotely, and another third, it'll probably be called a hybrid that is the will come into the office one or two days a week for team meetings and training and the rest of the time work remotely. And we're gonna be reconfiguring office space. We're gonna start Tonto print Whitney business this year to model how that's gonna work. We called the Office of the Future project, but I think again. If you could take out eight million square feet of office space. There's a tremendous amount of savings, not counting the statements that you have in terms of the efficiency of folks working remotely,.
Biden announces new cabinet nominees
"Marsha Fudge to lead the Department of Housing and Urban Development. Former Iowa governor Tom Vilsack is being tapped for agriculture Secretary as NPR's Giles Snyder reports by this expected to formally introduce retired General Lloyd Austin today. As his nominee for secretary of Defense. General Austin would be the nation's first black defense secretary. But there are concerns in Congress about maintaining civilian control of the military. Jim Mattis four years ago, Austin will need a congressional waver because he has not been out of the military for the required seven years measure designed to ensure civilian oversight at the Pentagon. Austin could also come under criticism for his post retirement service on corporate boards, including the weapons maker Raytheon Technologies. Resident he, like Biden is already making the case for why Austin should be confirmed by the Senate. Writing in the Atlantic, Biden said Awesome would work to put the civil military balance back on track. Kyle Snyder. NPR news More than 15 Million Covert 19 cases have been confirmed in the
"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
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"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
"Welcome new circles time caller. Jenn what's your thoughts on Adt? It has google partnership and Google has done iterating. Never invest in the second rate Katainen could've found from seven to ten years sure anything about but I've been against this company even when they announced that deal throws past sell and that's been right and I am still not saying it's time to buy I need to go to Laurie in California Lori. We can I want to thank you a big? For my kids. But a longtime fan of you and your show. Thank you very much. I'm very data. King. Is What do you think United Microelectronics Corporation you NC Taiwanese company I. Just a good brutalities. It's going her i. think that it's been a very good space you. WanNa be there. Is the same way I'm GONNA throw in Taiwan semiconductor and give it to for. I'm in a very generous mood tonight. Let's go to nick in Massachusetts Snack. Jim. How are you? I am good. Nick. How you doing great. Thank you less year we spoke about e Pam and it was a great idea and a great investment tonight I have another company that I don't hear too much about ever on your show. which has had very good earnings and I think is in the sweet spot with all the things that are needed for the vaccines all and the company is West. Pharmaceutical Services W S. I don't think it's really up there in terms of being. Me and it's okay. It's got some good healthcare products but it's not. It's not in the league with a lot of the others, but it's got a three times. Over about some of the. Jj that. That's not for me. That's not for me. Let's cut Zach Pennsylvania Zach. Thanking for everything to do with getting ready for Dallas between yeah. I know. Yeah. Got quarterback there. I had Google Guy The Dallas Google Google and I had to what's Absolutely so I'm a little worried last week with big minutes and I'm looking so long term on the stock. My stock is Kimberly Clark. You know I didn't like the quarter I mean it was a big mess I mean come on it's show shot the lights out. I mean proctored. I am trying to get my arms around that quarter as the stock goes lower doesn't get cheaper and it's GonNa stabilize soon but that was disappointed. and. These consumer super PAC is good come. They're not inexpensive so but here in seventeen as long term I think you can do it but it's jeeze. I'd rather on proctor I need to Andy in Texas Andy. From Austin Texas like him. Hey Jim or Michigan Mer. How would you like it? I'm talking WAYLON COSTING ABOUT G I. I gotTa Tell You I. Mean I have been against the stock forever every time it raises its ugly head I just. Including in the Rim Rian Kimmy and break pay me real growth. That's what they don't give us an that laser thing would. Likely. Is sponsored by to Ameritrade. When.
"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
"So again, I don't have big concern there at all now we are. With this administration friends with countries that are actually active in defending their turf, but also in being offensive to some degree am talking about Saudi Arabia. We know that there's In Asia, we Taiwan just got a used number huge order because Taiwan does not want to be attacked. which I don't think he's actually unrealistic given how strategic day are. So it'd be this instant where you can go say from thirty percent of foreign thirty, five percent selling the foreign to say fifty. So I think that's Maybe, the biggest opportunity you asked me before about the issue of the Chinese sanctions on Raytheon, which are announced yesterday. This is a is a natural conflict that we're GONNA have in our business all the time. The fact of the matter is I think there's not going to be a huge impact on our immersive businesses because quite frankly the businesses that we we sell into China supporting commercial essential to the Chinese economy. And so we don't sell defense in there. I don't expect there to be much of an impact on our sales on the commercial side. At the same time, you know the growing threats around the world real. I think you know we see it in Saudi Arabia last year with the attack on the airfield on the oilfields rather and the necessity of defending these these targets, this asymmetrical warfare excess you talking about thousand dollar drones acting multi million dollar oil facilities, and doing incredible amounts of damage. So again, there is a need there is a desire for our technology to help defend these whether it's the Patriot system, which is the low to your air defense as well as some of these high energy lasers that were that we used to defense these unmanned. Vehicles there's a lot of things out there that I think promised to improve. International Defense that over the coming years I question I know united. Technologies had a history of being at some point. Sometimes the second largest provider scholarships after the United States government is that something you've been able to continue it Raytheon technologies during these tough times. Is One of the core values at it was at ut and it remains at rt accent is we cherish lifelong learning opportunities for our people under the employee scholar program I think as used these numbers before we've had forty, four thousand people earn their degree weather is their bachelor's degree master's. We spent nearly a billion and a half dollars on it, and we're gonNA continue that because we think a better educator, the best educated workforce is the key determinate. Companies don't innovate people innovate you need the best possible people can most highly educated, and this is going to be a cornerstone of the. Extra long time to come excellent Craig. It's always great to talk you greg.
"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
"The United Technologies decided to break it up into three separate businesses heating ventilation air conditioning company, Co carrier an elevator company called Buddha's an aerospace defense companies that would merge with Raytheon become a colossus. We thought it was a great plan could unlock transmit value however right before the break-up Kobe nineteen hit, and that's been awful for the combined aerospace and Defense Business Raytheon Technologies, their core commercial aerospace divisions struggling at a time when airlines aren't exactly eager to buy new planes. Meanwhile, some investors worried the defense business could take a hit. If we get a democratic wave on election day, even the military budget secondly, cal for both parties regardless Raytheon gets. No love this morning, they reported a better than expected quarter in eight sent earnings beat beat off of fifty basis couple of monster fee cashflow. The analyst were only looking for two hundred, million dollars for Raytheon. Gave you over one point, two, billion still commercial aviation was down thirty percent management's informal guidance was well, let's say tepid and that's why the stock tumbled more than four dollars seven percent today that said sooner or later Raytheon Phanom recovery play. We may not be there yet, but we need to be ready to anticipating. So let's say coastal with as he's the CEO of Raytheon Technologies more about the company's posits fisheries welcome back to me money. Jim. Great to be here is always right. So Greg Ten you out run your own major industry is there a way to be able to out grow a business that we know is hit by Coleman and we know is in some cases by Boeing by special situation? So these are unprecedented times Jim as you know, but I tell you, you know there's not much. We can do to stimulate demand for folks to get onto airplanes We know getting on an airplane is probably the safest place someone can be the chance of Koga transmission on our appliances really really low. We know all that people still don't feel safe getting on airplanes and until they do the business is not going to come back. To wasn't twenty nineteen having said that I think the key for us to prepare ourselves for when that recovery, it's so that we can see the leverage on the upside just like racine it on the downside. That's what we talked about today. You know we have taken out about seven hundred, million dollars of cost to in the third quarter on top of six, hundred, million in the second quarter will take another chunk number seven, hundred, million of cost out in the fourth quarter. All these things we're doing to prepare ourselves for when the market. To actually see a significant upside margins. Tough decisions, tough actions but absolutely necessary. You have enough cash flow to be able to to a Versu- fi and put more money into defense or be decided to go up by another company that's data, and out that you know is going to recover very quickly or return more money to shareholders, which is the best thing to do right now. I think the best thing that we can do is to take the cash that we continue to invest it in the business. Your earlier point defense remains a significant opportunity for us especially bringing both the United Technologies Aerospace businesses and Raytheon together. We see huge opportunities to take this jointly developed technology and solve some of our customers most difficult problems. So that's priority one. I would tell you doing big day at this point. while. There are some attractive targets out there and you know everybody knows no big deal just not a prudent thing to do. So second priority I think we'll be start share buyback and we ended the quarter with ten billion dollars a cash on the on the balance sheet. Cashflow again will be good in the fourth quarter. Cashflow should improved dramatically as we go into next year because of all these actions that we've taken. So we're going to have the flexibility to do what we WANNA do but again, it's the investments for the long term and understand to be sure by back at the same time making these divestitures of actually very significant amount of money not getting a lot of attention. Are there more to be done? We, I think that they're absolutely is so today we talked about the selling of the force point business. This is a commercial cybersecurity business that Raytheon got into a few years back. What we found is that we just couldn't compete with the big boys. We didn't have the channel to market on the commercial side the way we did on the government side. So we sold the business. Going to get about a billion and a half dollars net proceeds from it on top of that, we got over two billion of proceeds from the divestitures of a couple of legacy businesses that we were forced to divest as part of the merger. So again, at the cash position is strong there's always more to do Jim I. Think we think about the or folio there are some things. That probably aren't core to Raytheon technologies and we're constantly looking at those things tough to sell the commercial environment that we're in. Now, there's something on the defense side. that. We don't think it's we will continue to push on that. You know there's a couple of issues that are nagging and Igli that people worry about one a blue wave which I think you've done enough work to be able to say there's no change. If anything there's more military spending and then these stories about how China. Has had it with Raytheon, but there really isn't a way to have it with Raytheon. So how do you diffuse these? What just say Things that people have in mind it may keep them promoting stock. So. Let's start with the political front. Obviously there I know there is concerned that defense then he will go way down if there is a Biden administration and frankly I just think that's ridiculous. Defense has always been a bipartisan issue and the when the Biden vice-president and previously a center I think he had a pretty good approach to national defense. He understood the need to work both sides of the aisle and to provide for the national defense and quite frankly these are challenging times though we have lost our technological edge to the Chinese, and in some cases to the Russians and we're going to have to invest more dollars in some of these new technologies if we're going to be able to compete. With these new threats. So I'm not I'm not worried so much about a defense spending going down. There's a national defense strategy document out there that list ten key technologies from hypersonic directed energy and we're right in the middle of all of those..
"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
"That's my experience. Some forget twitter is reporting soon, and we saw unbelievable numbers from pinterest and we saw fantastic numbers when we looked at the overall group but snap really let it. Okay. How Gone Alphabet same story the parent company of Google also short-term breakout last week with good relative strength. picture-perfect Charts People Apple Amazon Netflix. Now, they are a little different apple names on. Well, let's see. They've spent. This is not. Apple. Last couple weeks drift lower salkin points out that going today session. They were both giving you oversold reading since this two Kasich oscillators that take a look at this the first time that's happened for either of them since the September lows and Okay and I think that when you get oversold position like they have this cast put up here, you should get a bounce but these this chart frankly is not as good as the charts I just showed you or have the action Netflix. Well, this one might seem like the fly in the point given the company reported some disappointing results last week and the stock plunged from five, hundred, twenty five. The quarter to four eighty nine right now. However, stock point notes stock notes that Netflix has a strong floor support in the four, sixty, seven, seventy, four, sixty, eight area right here. And that's down about four percent but this is a weak chart. Some would say this is a triple top. That's what I keep hearing when you add my own view, the situation for in the fact that Netflix's thesis doc, it's exactly the kind of thing people buy when they want to make a bet on the state of economy and he's got a pretty compelling story. All right. Let's look at the best one and now it's a little hindsight. But let's look at Microsoft. Gave you an amazing quarter tonight and that makes me feel bullish about the rest the industry. This is actually picture. Perfect. I think that if it broke down a little more people that are said, there's a whole shoulders. No, it's actually. As you see from the fifty day. Put it all together whenever Kovic cases. Spike. You had the by the Fang names Ed thank plus of course, because all found ways to benefit from the pandemic connect game playing keep working. We need gut check here in the bottom line is that discharge as interpreted by Katie Stockton suggested facebook. Amazon apple, Netflix Google and Microsoft, which again reported great number tonight. Are Ready to roll higher after yesterday's beat down for the border averaged. So you my.
"raytheon technologies" Discussed on MAD MONEY W/ JIM CRAMER
"Meltdown, are we supposed to do with today's action? We're you know Nasdaq was pretty strong. Well. Let me take a look at the market reverted to its old pattern where massive cova outbreaks and tech stocks warring and dragged down everything else. That's what look today. Remember we've been through this twice before every time these stocks have been written about their dead when the pay DEMOC I took the world by storm in. March. The market collapsed then we bought him and that was the first sector to start bouncing led by all the digital players help scope. Help US cope with the lockdown and this new age of social distancing. Now, we saw something against similar in June when the second way of Cova cases exploded across the south and southwest. There was a big difference though we've seen this movie before wall. Street didn't panic panic in March when it felt like the world was ending selfish sport were contain the Dow tumbled from twenty, seven, five to twenty, five, thousand in a matter of days not great but better than crashing late February early. March. where the loss thirds value in few weeks at the same time the tech heavy Nasdaq only dropped five percent. During that second wave. So off to be slater, it was making new highs, but I will mention again that was down five percent I heard stocks pronounced dead now Cova cases are hitting records get, and this feels like a similar pattern. Last couple of weeks have been less than stellar than yesterday nearly the whole market rolled over today the Dow and the be kept falling but the Nasdaq already begun to rebound and it did that yet boundary eleven o'clock twelve o'clock in the morning when I really start moving however the situations complicated this time round and not just because there's an election in a week. When the second wave hit we still had all that federal stimulus money from paycheck protection loans for small business too generous jobless benefits. Oh, boy that's not the case anymore no stimulus on the other hand. We're now seeing some encouraging an activity like amd buying silence for thirty, five billion dollars to expand into communication chips and meant to position in the data. Center. What else? Well, the big tech leaders have brought up substantially since June and this week we got earnings from some of the most we're going to get earnings for everyone of these companies frankly. Microsoft, just reported terrific bottom y beat enter the closer it was really gorgeous and, of course, it was fueled by its cloud business azure although the stock initially but didn't budge I think those who own it in Chapel Do, okay then on Thursday night, get this call that we hear from facebook Amazon Apple and alphabet. That's the Tech Titan owner school yet fang reports this week with the exception of Death Luke's which already heard and it was disappointed by the way. So what the heck do we make of these big tech names, Mike says, you should view any additional week. This is an actual buying opportunity, but we know this is a fraught moment and emotional moment at times like these. I am always telling you to take your emotions out of the equation and that means falling back on a more quantitative less emotional approach, and that's why we're going on the trust with the help of Katie stock. She's a brilliant tactician. She's the founder magic partner. A leads strategies which detectable out this firm with a great newsletter. This is the first time we feature stock this work on the show, but sees a veteran charts within twenty years. Experience shears the chief technical strategies. For she started her own firm and got congratulations Katie and she has been a lot on NBC's regular guests most importantly stocked his feeling sanguine about Fang plus Microsoft minus net flicks. So take a look at his daily charter, the relative performance and Fang plus m index versus the five hundred we know facebook Amazon Apple Netflix Google saw have given us terrific absolute gays but they also keep leaving the rest of the market in the dust despite the fact that. I hear way too. Often I keep emphasizing this because I've heard these stocks pronounced dead endlessly and it's hurt you and I'm trying to keep you from being hurt what else check this to casting index down here. This tells you when something's getting overbought oversold member oversold compounds. Thanks to the recent. So of combating yesterday's out Stockton ports out these big techniques are collectively very close to short term oversold. And those are the great conditions that we we've only seen this four times. In other words fan came down too fast, which means it could be due for A. Bounce. Stuck till Selena fifty day moving average. And there we see that blue okay it's moving higher. Give you a gradually rising floor of support. Okay. The two hundred day moving average reveals the longer-term uptrend. It's well above that but that's okay. That's okay. It shows real strength. I, love this chart. Now, this whole group got hammered September's got fooled with the red hot. I, remember they lose us in order to get in on this deals. A lot of investors rang the rate reg. Sure on on these stocks every that was how they had enough cash to buy new stocks while the goofy data from September lows. It's basically spent the last month going sideways but in Stockton you this period of consolidation hasn't wanted fangs momentum. The group just took a breather before the next leg higher I what are we see when we drove down to the Individual Fang names plus m? Wow, this is pretty when you look at the action and face whether Mark Zuckerberg testified in Congress. So Oh I'm sure it'll be negative headlines they shouldn't Stockton notes that the stock saw short-term breakout last week one positive relative strength. So don't let whatever said Washington in input what this is doing here this is unemotional as she sees it that's a good setup going into Thursday nights. Earn support facebook's behaving like wants to go higher i. think that it could take out that high..
"raytheon technologies" Discussed on WBZ NewsRadio 1030
"The morning, so I'll keep an eye on that developing situation there. Crash at deposit circle. Laurie granted BBC's traffic of the three absolutely there. Laurie. Thank you and now check on the W B C. Forte AccuWeather forecast. As we go live to double BBC AKI, weather meteorologist in DeVore and deal looks like we got some fall football weather headed for us this weekend. It really does Jim. It is going to get very chilly this weekend. It's the final calendar weekend of summer summer fall arrives of fishing on the calendar coming up on Tuesday, but We're going to take a decrease after today's warm up Now today is feeling a little bit like summer hangover. Upper seventies 10. You're 80 Sunshine will fade behind clouds. It's not looking his hazy out there this morning. We may have gotten rid of some of that smoke. Ah, passing shower tonight. Low down to 56, then some son of times with a core gusty wind Tomorrow temperatures on Lee near 60 and then Saturday and Sunday. Both those days will only get to around 60 degrees City it inland fifties coastal areas. We're looking at the chilly temperatures and I want to keep an eye on how close to the city. The frost and freeze situation gets over the weekend and then we will warm it up. I say fall arrives on Tuesday, but by The early part of next week. We're back in the upper sixties 10 years, 70 will keep you up to date on W B z Boston's NewsRadio. Alright there, Dean. And right now we're at 63 degrees in Boston. We had partly cloudy skies That is 5 25 on W. B C news radio on a check now on New England business as we have even more job cuts this time coming from Raytheon Technologies, the Waltham based Company, which recently merged with Connecticut's.
Raytheon doubles job cuts to 15,000, citing airline downturn
"Raytheon Technologies is planning to eliminate more than 15,000 jobs this year at his corporate offices, jet engine maker Pratt Whitney and aviation in military equipment manufacturer Collins Aerospace, the chief executive officer. Greg Hayes announced the revised job cut numbers today during a Morgan Stanley analyst conference. The cuts are nearly double what the company had disclosed in July amid a downturn in the airline industry. During the pandemic
In Seismic Shakeup, Dow Replaces Exxon Mobil with Salesforce
"We'll talk about an exclusive club the only members allowed into the Dow, Jones Industrial? Average. Are The thirty most stalwart icons of the American economy names like Home Depot Microsoft McDonald's Johnson and Johnson Caterpillar Goldman Sachs and until next Monday. Exxon Mobil. That's right. The Dow is throwing Exxon out not long ago such a move would have been unthinkable. The multibillion dollar oil company is the longest standing member of the Dow. It was first listed in October of nineteen. Twenty eight. The. Dow's leaders announced their choice to boot Exxon late, Monday the move is so remarkable that Bloomberg called it a stunning fall from grace for the giant oil company. Is Twenty Thirteen Exxon Mobil was the world's largest publicly traded company according to CNBC. But now in the flash of time that has been the Kobe pandemic traditional oil companies have fallen out of favor as oil revenues and profits. Sink investors are spurning energy businesses. As we've reported here. Recently, Exxon has been foundering as the green economy becomes more and more important to global consumers. Bloomberg reports that exodus is now valued at only one, hundred, eighty, billion dollars A. Drop of forty percent just since New Year's and even more sense it's half a trillion dollar valuation in two thousand seven. You could say Exxon's worth is plunged as deep as one of its offshore drills like whack-a-mole when a company is pushed off the Dow, another one jumps up to replace it. In this case the Dow kicked out three businesses, Exxon? Mobil pharmaceutical company Pfizer and Raytheon. Technologies like Exxon Raytheon is also a dow old timer it was first. Listed in nineteen, thirty, nine, swapping into those slots are salesforce dot COM tech company specializing in customer relationship management. The Dow also added Biotech Company Amgen and industrial conglomerate Honeywell International. This is the Dow's biggest shakeup in seven years, not surprisingly the share prices of the three companies joining the Dow was Tuesday for the three kicked off the island. Well, you guessed it share prices fell. There's a much bigger strategy here than simply reflecting Exxon's ill fortunes the Dow. Index of American blue chip stocks was invented by Charles Dow and ninety four, two years later down his partner Edward Jones surely you know that name publish their first list of a dozen blue chip stocks ever since the Dow has served as a benchmark the standard intended to measure the strength or weakness of the US. Stock Market for that reason, it's leaders sometimes shuffled membership in the Dow to reflect the changing makeup in value of the entire stock market. And for that matter, the entire American economy
Salesforce, Amgen, Honeywell up in premarket on news of Dow industrials shake-up
"A look at the changes that are coming to the Dow Jones industrial average because you are seeing movement in the shares that air going in and coming out. You've got Amgen up 3.5% Honeywell up 3.5% salesforce dot com Up 2.5% They're all going into the Dow industrials before Monday's open all this tied into apples for for one stock split, which will be complete by then They want to maintain technology as a percent of the index. Of course, you know, the Dow is Price waited, so Apple split will bring down the percentage of technology within the average. So they ad sales force they put in Honeywell. Ah to go Morte toward industrial away from just defense, which Raytheon Technologies represents an Amgen eyes replacing fighter. So you get a biotech element. All the
"raytheon technologies" Discussed on NewsRadio 1080 KRLD
"It is 7 54 time to check on your money. Let's check in with David Johnson. That's got way really haven't seen a lot of movement in the last half hour. Everything seems to be stuck down still looks up 140 points and NASDAQ looks down five. The S and P of 13. The greatest movement is coming in some of these stocks that are being moved around in the Dow Jones industrial average. Suddenly everybody's got to go out and who didn't already own sales force and buy some because it's replacing Exxon and they need by Amgen because it's replacing visor. And they've got to go back in the Honeywell cause Raytheon Technologies is getting kicked off and all this happens after the close on Friday, and all this in anticipation of the split is taking place in Apple, Apple will have a lot less influence on movement of the Dow Jones industrial average after the split You know, a movement and apple that used to affect the Dow by 40 points will only have a 10 point effect right now. And so they're trying to correct that lots of earnings out today. Best buy had killer earnings a dollar 71 62 cents better than expected revenues beat But the stocks lower and the senses it's because everybody's buying forward. They're going out and buying, you know, Roku boxes and new computers and ipads and things like that to get ready for, you know, working from home or work taking school from home and they're robbing business that would have taken place say in the third or fourth quarter of the year. And they're putting it back in earlier, so that stock's down Medtronics, the medical device maker, killer earning 62. Cents, 44. Cents better than expected revenues beat by a billion. That stock's up, Smuckers. Peanut butter and jelly 70. Cents better than expected on earnings revenues beat the raising estimates of that stock looks a little bit higher this morning and Tesla were goingto watch it, Elon Musk. Has raised some eyebrows. He sent out a tweet last night. That said, that seemed to indicate the company's going to be able to mass produce batteries with 50% more energy density in just few years. Crude's up. 38 cents goes down $7.5. Now looks up 1 40 David Johnson, whose radio today T care lt. Thanks, David. We are watching Hurricane Laura will have the latest developments coming up, plus traffic and weather together on the eight. Hi, Carol from l A here when we rescued Sadie, our shelter said she was a lab mix. But that didn't seem right because of all of her energy. So we decided to test her DNA with embark. Turns out she's a border collie, boxer and beagle mix suddenly say he made a lot more sense. Now we know she needs a lot of.
"raytheon technologies" Discussed on NewsRadio 1080 KRLD
"To do that. Set it up. You hit it out. Okay. Thank 7 24. Let's bring in David Johnson. Check on your money. Good morning, David. Get bored. Yeah, I've always argued that Tuesday is the most worthless day of the week. But the fact is, you just made it well, that's a great lie. The stock market is major by the Dow Industrials. Average looks up 141 points, but the NASDAQ looks down five. There is Movement of foot the Ah To some shocking announcement that came after the close last night. But after being in the Dow Jones industrial average vaulted 30 issues since 1928 Standard oil of New Jersey is getting kicked out. Well, they call it Exxon, now are Exxon Mobil. But it's been there since 1928 and who's goingto take it out? A company. You probably never heard of sales force now favorite in San Francisco. You seen this giant sales for Tower and if you've ever gotten You know some spam mail from some different people from contact. It probably came through sales force, but that's a big one. Also, Anjin replacing Fizer That's a head scratcher to one. That's really not is the fact that Honeywell is going to replace Raytheon Technologies, which is split up and spun off Otis Elevator and Carrier and Honeywell. It's interesting Honey will used to be on the down and it's been gone since 2008. So maybe there's hope for Exxon to come back this all because Apple is getting ready to split. It's going to affect the waiting of the Internet. The sector. It's not gonna be a representative for the Dow, but now they think it's going to be a cruise up. 24 cents 40 to 86 goes down $9.70 in 1929 50 10 year rates 100.69% That is up a little bit. If the towered open right now we have 1 45, the S and P up a dozen in the NASDAQ Lower by three. David Johnson Use radio today. T K. Roldy. Thank you, David. Well, is Laura strengthens their packing up and getting out of another Texas city. We'll have that for you coming up after traffic and weather together on the eights Next on K rld..
"raytheon technologies" Discussed on WBZ NewsRadio 1030
"Beverly it's sunny and sixty eight in Boston where it's sixty eight degrees as well so there we have it as we warm up today best wishes are pouring in from all over the world for an injured baby gorilla zookeepers at a Seattle who's a baby gorilla was badly injured Saturday when he was caught in a skirmish between his family group members animal health experts at the woodland park zoo's a little kid telco was bitten on the head likely by accident when another girl tried to buy his mother a taco stand a fractured skull and a severe laceration bought through officials say the two month old girl underwent surgery they're cautiously optimistic he'll fully recover fee doesn't develop an infection zoo brought in a team of pediatric neurosurgeons to perform the surgery Sam lead singer CBS news and a brief check of New England business here's Bloomberg's Karen Moscow Cambridge based on island pharmaceuticals new drug application for the master and has received FDA priority review lemaster and is in development for the treatment of a rare disorder that mainly affects the kidneys is there pain court has rejected an appeal by General Electric in which the Boston based company challenge to Raytheon technologies patent on aircraft engines G. E. had argued that the patents a limited the scope of its engine designs and tens of thousands of jobs are on the line as Boston colleges and universities try to figure out how to reopen in the fall area colleges employ one hundred sixty six thousand people and account for fourteen billion dollars of revenue according to labor market data firm MC research institutions like Harvard or also a band rock supporting the region's health care and technology industries a little burst here in Moscow.
"raytheon technologies" Discussed on NewsRadio 1080 KRLD
"Know the more I hear the stories the more happy I am that I'm here yeah I'm not out there yeah and home yeah I understand yep we're exactly where we were the last time we spoke down still accept three hundred R. two ninety nasdaq loads of one fifty the S. B. up thirty seven what's happened since last time we spoke though we got the weekly our job jobs numbers and jobless claims were three point two million which is just horrendous but that's also about what was expected now the real shocker will come tomorrow when we get the of the labor department so we're gonna look for about sixty to seventy percent unemployment maybe twenty one million people but we'll see we'll see a lot of that is built into the stock market and actually there is one report that we've already seen about five million jobs come back so that's going to be an old number now we started out today with a fistful of good news US and China get ready talking in on trade by FDA giving early approval for a phase two study for a vaccine by Madera we've also had some good earnings Raytheon technologies which is the merger of United technologies Raytheon it's about stock stocks up over three dollars a share dollars seventy eight already seventy three cents better at revenues beat Bristol Myers had really strong numbers dollars seventy two twenty seven cents better they've offered their gods watching the shares of Viacom CBS another merged company go up eighteen percent up three dollars right now they are the dollar thirteen that is eighteen cents better than expected we still have people raising money breaker international selling seven million shares eighty dollars twenty five cents United Airlines usually two and a quarter billion dollars in senior notes and spirit airlines down twelve percent they sold twelve million shares of their stock to try to raise money groups holding the games right now the June contracts up two dollars thirty nine cents a ten percent gated twenty six dollars thirty nine cents gold up forty dollars ten year rates that little bit point six nine percent that looks up to eighty eight David Johnson is radio ten eighty KRLD thanks David more businesses set to re open tomorrow in the governor.
"raytheon technologies" Discussed on Wall Street Breakfast
"Next help to offset near zero interest rates in Pharma companies with pipelines of essential. Drugs are seen as obvious favorites. Milan Perot Merck AstraZeneca abbvie. Eli Lilly and Bristol. Myers Squibb all make the list while zoom video. Communications is called wildly expensive. There are still content delivery networks. That look interesting. Aca My cloudflare. Box dropbox ringcentral vantage holdings and eight by eight are all seen as benefiting from the stay at home world right now. Small cap compass diversified holdings is identified as being in a position to emerge from the corona virus recession stronger than it entered it. Finally Raytheon Technologies Otis worldwide in carrier global are labeled as appealing after making their recent debut at about the worst possible time and this week as always we end with our single stock coverage this week recovering Microsoft with Ash. Anderson ash had recently published an another article on Microsoft calling it the cornerstone of his portfolio. And in this article he describes why. Microsoft Willie zooms lunch. Microsoft closed the week at over one hundred. Seventy eight dollars ash begins here. I would like to focus on one arm of Microsoft in particular productivity getting more specific than newly rebranded Microsoft. Three six five and why it is terrible news for the likes of slack and Zoom and how much the productivity sector means to the business as a whole. I want to discuss Microsoft three sixty five because no matter how bad things get even the worst seemingly out of the woods with covert. Nineteen Microsoft has the best productivity software in the business as the components of Microsoft's productivity segment continue to grow in quality and SCOPE. Microsoft will become a one stop shop for enterprise. Software needs that kind.
"raytheon technologies" Discussed on NewsRadio 1080 KRLD
"Nine twenty five time to check on your money here's David Johnson now your body is in great shape or holding a lot of those early games in fact ran into them the valid duster leverage write downs of six hundred twenty points the nasdaq is up to seventy seven the S. B. up seventy eight so that's a gain of cash over three bonus three to half percent the nasdaq gained about a two and a half percent for the industrial average the S. B. the stage was set we heard guys started getting the first round of earnings and also projections out today Johnson the jobs at JP Morgan chase two of the Dow stocks reported they really didn't disappoint those stocks are higher Wells Fargo also I've traded a bit higher after after their numbers came out the price of crude is under pressure down sixty five cents gold just soaring up twenty six dollars an ounce down seventeen eighty eight and a ten year rates easing back a little bit point seven four percent we're seeing better than four percent gave them a fistful of Dow stocks apple Johnson and Johnson way Walgreens boots alliance trading higher Dow chemical and also the new Raytheon technologies stock locally the biggest percentage gain games top up thirty one percent but breakers up eleven percent said it marks up twelve percent in links up eleven percent of homes up nine percent of the shares of signet are also up eight and a half percent right now all the downside boy there's not much it's ten to one on the upside right now the Dow is up six hundred points David Johnson news radio ten eighty KRLD thank you.
United Technologies + Raytheon Creates An Aerospace And Defense Giant
"O'clock. You wonder what the impact is going to be with Raytheon's merger, right? Right beyond the massive US defense contractor best known for manufacturing, the patriot missile defense system as agreed to merge with industrial technology giant United Technologies in an all stock deal. The two companies announced over the weekend Newport daily news reporting the combined company would be the second largest US aerospace company behind Boeing, newly formed Raytheon technologies would be combined with United Collins aerospace, and Prenton Whitney, both leading producers of jet engines, and engine parts. It would not inherit United to carry us air conditioner business or it's Otis elevator company, both of which are being spun off under terms of an earlier deal. So in a phone interview, executives from both companies said the deal was driven by a desire to create a leading aerospace technology company using state of the art hardware from the defense and commercial aviation industries. But what about the people, the combined company when employees more than sixty thousand engineers would have. About thirty eight thousand active patents and whenever the financial firepower to invest as much as eight billion dollars each year in research and development. But as we all know any of us who have been caught in a merger or a sale heads
Raytheon and United Technologies Announce Merger
"Technologies has doubled down with an all stock deal to merge with defense contractor Raytheon the combined company valued at more than one hundred billion dollars after planned spinoffs would be the world's second largest aerospace and defense company by sales behind Boeing with annual revenue of about seventy four billion dollars this year. It will make everything from engines and seats for jetliners and thirty five jet fighters to patriot missile launchers and space, suits, for astronauts, the new company will be named Raytheon technologies which according to the journal, it's new executive called a merger of equals.
Raytheon, United Technologies to merge, creating defense giant
"One files the corporate news of the day. The all stock transaction merger of equals, it's being called joining the giant defense contractor, Raytheon with the giant, aerospace company, United Technologies forming the more giant, if not, especially imaginatively named Raytheon technologies, one files that transaction under the heading done. Have you seen the defense and aerospace businesses lately? If the deal does make it pass regulators, the one hundred billion dollar result would be the number two company in that space behind Boeing. So marketplace's Kimberly Adams gets going with some market based realities from Washington Raytheon and United Technologies say the mergers important for them to keep their balance in shifting markets. Doug gates is head of aerospace and defense for KPMG. They're looking at it in this. Acquisition to a long term view that this combined company will be able to ride the ups and downs of the markets Raytheon has a big defense contracting business. United Technologies is big in commercial aviation. If commercials slowing down, they've got large military my and vice versa. Another reason behind the merger the idea that bigger is better risen McCormick is a fellow at the center for strategic and international studies. The merger would create a company that would bribe Boeing and Lockheed as largest defense contractor continuing trend of consolidation that's been ongoing since the nineteen ninety s that consolidation worries President Trump. He expressed concern this morning that too much consolidation in the defense industry may raise prices for the US military and by extension taxpayers. But Gerry McGinn executive director of the center for government contracting says this merger is unlikely to face a lot of pushback from federal. Regulators because there's not a tremendous amount of overlap between these two companies in terms of the markets. They operate it, but government regulators do have to approve the final deal among them the combined company's biggest customer, the department of defense in Washington, I'm Kimberly Adams for marketplace.
"raytheon technologies" Discussed on WSJ What's News
"So by joining together, the two companies we have a bit of an insurance policy, if there was a slow dial in commercial, perhaps commercial and defense, or does Cameron says Boeing could raise concerns about the deal whenever you have a deal at the scale inevitable, no Kona fake some competitors. When United Technologies was looking rather rejecting a plan to preach from Honeywell two or three years ago. Boeing was very vocal, that it didn't want this deal to go ahead to have its biggest suppliers. Combining would give it less clout as billing itself was trying to cut costs and. Dennis Muilenburg, the Boeing chief executive was pretty vocal in saying to use his words that the didn't see any benefit for customers now last year when United Technologies was trying to buy Rockwell Collins, which boy could be trying to buy as well misdemeanor Lindbergh was there again on the stump trying to block it. But ultimately that deal was approved by regulators and it went ahead. So you can expect some pushback from Boeing again, to its big suppliers, combining will give it less less climate Boeing and Raytheon don't compete that much on on the defense side. But an enlarged Raytheon technologies is the new company would be called with to take part in these competitions where we're Boeing, perhaps, doesn't see as many rivals right now. So expect pushback from Boeing and the tie between United Technologies and Raytheon could also heat up mergers and acquisitions in related industries with United Technologies. Planning to, to spin off the carrier h business I Otis. There's been talk that these two standalone companies might trigger some amony action in elevate business. And in the heating and air conditioning business, it can also expect within aerospace that everyone's going to be leaking. They are size and saying, well, you know, do we need to scale up more, an obvious example, would be General Electric, which makes aircraft engines that compete with United Technologies as well as avionic systems? It's now, kind of Lucan, small versus this entity and jeeze management, which is already reshaping the company's portfolio might have to look again. Similarly, Honeywell have immune rejected by United Technologies might look at itself, and say, well, what else can we do? And perhaps, we could see a recreation of, of the effort to combine G and Honeywell, which was rejected by by regulators well over a decade ago. So as ever with these big deals that are going to be on affects. The one caveat, which many people have, and it was expressed on the invest. The coldest morning is the.
United Technologies, Raytheon to create $120 billion aerospace and defense giant
"To aerospace companies are combining Connecticut-based United Technologies and Massachusetts-based Raytheon will join to form Raytheon technologies corporation, Connecticut public radio's frankly, Garciano has more UT see the parent company of jet engine maker Pratt and Whitney says that most of its nineteen thousand engineering, and manufacturing workers in Connecticut will stay in place, but the combined company's headquarters will now move to the Boston area. Greg Hayes is UT, CEO murders. Bring together to leading companies with unsurpassed technology capabilities over today and into the future as a combined company. We will deliver innovative cost effective balloons. The full spectrum of aerospace and defense
Wall Street Investors Keeping An Eye On Merger Between United Technologies And Raytheon
"Andrew. Wall Street is going to be closely watching stock in Waltham Raytheon, one of the most mega of mega-mergers ever announced involving the US defense contractor, Raytheon green to be bought by United Technologies in eighty six billion dollar all-stock deal bringing together, the makers of patriot missiles, and f thirty five engines who entity would be called Raytheon technologies pending regulatory approval. It is billed as a merger of equals. But currently United Tech's holders would own, most of the company would be based though, in Raytheon's, current headquarters in
"raytheon technologies" Discussed on 1410 WDOV
"Wanted to track things like internet activity credit card purchases airline tickets all that stuff car reynolds medical records and they wanted to do that that was their idea and an so briar was the ceo of in q tel which the venture capital arm that was funded by a guy by the name of gilman louie and gilman louie of course the conspiracy theory is the government actually bought facebook back in two thousand three they did it through investments by james brier through raytheon technologies and it was yet unnamed it was kind of an unnamed data mining project and then they called it facebook because jim brier basically got behind the facebook project with millions of dollars and then he just tagged it all the mark zuckerberg zuckerberg came up with the program kind of like it was like my space and so cia darpa connections i mean it's no surprise that you know they they want this whole i guess you could call it the investment if you will facebook is is quite possibly the the controllers want their cia asset back and so they're willing to go in and find out just you know why sucker berg has gone against the program why isn't he not you know using it to you know enhance the the position of the politicians when i'm sure his mission was to do exactly what brier intended was to just monitor the activity of most people on facebook rather than you know having any kind of i guess you could say duty to push one politician or another politician yeah but certainly a marvelous source of cereal for anyone who wants it basically yes you can mind a lot of things with reverse speech you don't need facebook you just reverse speech david ground zero fascinating stuff for mark zuckerberg in the hearing they had just a few days ago if you have any questions or comments triple eight six seven three thirty seven hundred that's triple eight six seven three three seven hundred some remarkable reversal on mark zuckerberg tonight on ground zero we'll be back with more don't go away.