Article

2019-07-30 Economy

There's no business like the arms business: Here's how the top US defense companies did in Q2 earnings

[CNBC] WASHINGTON ‐ Nobody spends money on arms like the United States, and it shows in the bottom lines of the biggest defense contractors.

The Trump administration’s 2019 defense-friendly spending bill increased the Pentagon’s spending power to a grand total of $717 billion. Next week, the Senate will vote on a $1.3 trillion budget deal for fiscal year 2020 that includes $738 billion for defense.

This week, America’s top five defense firms ‐ Lockheed Martin, Boeing, General Dynamics, Northrop Grumman and Raytheon ‐ posted their second-quarter earnings. While the companies’ quarterly performances remained strong, collectively their stocks were largely unchanged. The iShares U.S. Aerospace and Defense ETF was slightly higher for this week after the companies reported. So far this year the benchmark ETF is up nearly 26%.

Here’s how America’s defense industry giants did.

Posted by Besoeker 2019-07-30 00:00|| || Front Page|| [11130 views ] Top

A very dangerous business, arms dealing. From the memory hole, the following link and story are provided:

Obama DOJ drops charges against alleged broker of Libyan weapons

Posted by Besoeker 2019-07-30 06:31|| 2019-07-30 06:31|| Front Page Top

#2 Yeah, after years under Obama, catch up can be expensive. Same thing happened after the Donks refused to approve new appropriations after Vietnam and made the military live on continuing resolutions. With most lower grade military families qualified and receiving food stamps, Carter lost to Reagan and the catch up was very expensive then as well.

Posted by Procopius2k 2019-07-30 07:28|| 2019-07-30 07:28|| Front Page Top

#3 Logistics B Hard. Whether it is the Defense Department, or the place I retired from, the Bean Counters just don't see any point in paying for PreventiveMaintenance™ .

Posted by magpie 2019-07-30 11:39|| 2019-07-30 11:39|| Front Page Top

#4 Ref #3: 'Long term' in DoD speak.... one budget cycle to the next. Forget the POM. That's just unicorn meat. Stuff to throw on the wall for the congress.

Posted by Besoeker 2019-07-30 13:10|| 2019-07-30 13:10|| Front Page Top

#5 catch up can be expensive

Especially for the party that has to do the catching up. An age-old Donk trick.

Posted by gorb 2019-07-30 14:46|| 2019-07-30 14:46|| Front Page Top

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