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Raytheon VP sold $9.50m in shares-July 25
Raytheon specializes in the design, manufacturing and marketing of electronic defense equipment and systems. Net sales break down by family of products and services as follows:
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missile systems (30.1%): weapons systems, missiles, munitions, projectiles, etc.;
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aerospace systems (22.7%): radars, airborne sensors, tactical airborne communications systems, software-defined radio solutions, advanced tactical networking systems, cryptographic systems, real-time sensor networking systems, etc.;
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integrated air and missile defense systems (22.6%): radars systems, control and monitoring equipments, communication, information, detection and imaging systems, etc.;
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intelligence, surveillance and reconnaissance solutions and services (22.4%). The group also provides network systems (communication, surveillance, traffic control systems, etc.) and technical services (consulting, engineering, technical assistance and training services etc.);
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network and information security solutions and services (2.2%).
Net sales break down geographically as follows: the United States (70%), Middle East and North Africa (14.7%), Asia/Pacific (10.1%) and other (5.2%).
https://www.marketscreener.com/RAYTHEON-14299/company/
https://www.finviz.com/insidertrading.ashx?oc=1193800&tc=2&b=2
Raytheon : DARPA complete key design review for new hypersonic weapon; Tactical Boost Glide system aims to keep military ahead of threats
Raytheon Company (NYSE: RTN) and DARPA completed a successful baseline design review for the Tactical Boost Glide hypersonic weapons program, establishing the company's technical approach for a critical design review and moving the system a step closer to development and use.
Hypersonic vehicles operate at extreme speeds and high altitudes. Raytheon is developing hypersonics for the U.S. Department of Defense.
A boost glide weapon uses a rocket to accelerate its payload and achieve hypersonic speeds - velocities greater than Mach 5. During flight, the payload separates from the rocket and glides unpowered to its destination.
'We understand the urgency of the need and are working fast to deliver this advanced technology to our nation's military,' said Dr. Thomas Bussing, Raytheon Advanced Missile Systems vice president. 'The goal is to keep America ahead of emerging threats, and we are well on our way.'
The U.S. military will use hypersonic weapons to engage from longer ranges with shorter response times and with greater effectiveness than current weapon systems.
Earlier this year, Raytheon received a $63 millionDARPA contract to further develop the Tactical Boost Glide program, a joint effort between the agency and the U.S. Air Force.
https://www.marketscreener.com/RAYTHEON-14299/news/Raytheon-DARPA-complete-key-design-review-for-new-hypersonic-weapon-Tactical-Boost-Glide-system-a-28976023/
United Technologies shareholder launches rebellion against merger with Raytheon
A significant owner of United Technologies Corporation shares has issued a public broadside against the proposed merger with Raytheon, calling the move “ill-conceived and unlikely to create value.”
In a letter posted online Friday, Third Point LLC CEO Daniel Loeb said he would vote against the merger and urged other shareholders to push back against the proposed tie-up, which is expected to create one of the largest aerospace and defense firms in the world.
Loeb, through Third Point, owned about 8.4 million shares in the company as of February, according to Reuters. He has been a vocal critic of UTC’s leadership in the past.
At the core of his argument against the merger is Loeb’s belief that Raytheon brings “very little applicable technology to UTC’s aerospace offerings,” a contrast to statements from both companies at the announcement of the merger.
“The benefits of Raytheon’s cyber and data analysis capabilities are not quantifiable and could be replicated through commercial collaboration or supply agreements.”
https://www.defensenews.com/industry/2019/06/28/united-technologies-shareholder-launches-rebellion-against-merger-with-raytheon/
o7
and we give a shit about your opinion this much
US Treasury Now Expects To Borrow Over $800 Billion In Debt In Two Quarters
One of the reasons why Trump and Congress were so quick to pass a debt ceiling deal last week is that had they failed to do so, with the Treasury's cash balance sliding precariously lower and expected to hit $0 by early September, there was a non-trivial chance the US could technically default by the time Congress came back from its August vacation.
Of course, that did not happen, a debt ceiling extension deal was reached, and as a result the Treasury is now free to start reloading its cash balance, and it plans on doing just that. On Monday, the Treasury Department announced its latest quarterly estimates of net marketable borrowing needs for the current (July – September 2019) and upcoming (October – December 2019) quarters. What it revealed was the following:
After borrowing just $40 billion in the past, April-June period, which left the Treasury with a quarter end cash balance of $264 billion, in the current quarter, the Treasury now expects Treasury issuance to explode higher, and borrow a whopping $433 billion in net marketable debt, a massive $274 billion higher - or more than doubling - its prior forecast announced in April 2019.
Looking ahead, during the October – December 2019 quarter, the Treasury unveiled for the first time that it expects to borrow $381 billion in new debt, assuming an end-of-December cash balance of $410 billion with $310 billion of the new issuance going to cover financing needs.
In other words, the Treasury will sell $814 billion in debt in the current and future quarter… and it will only gets worse from there.
Bond dealers see the status quo prevailing at Wednesday’s quarterly refunding announcement. Forecasts are coalescing around the view that the Treasury will keep auction sizes of 3-, 10- and 30-year debt unchanged at a record total of $84 billion, in sales scheduled from Aug. 6-8. To put it in perspective, the tally was $62 billion at the time of the 2016 U.S. election.
The coupons issuance is expected to raise $296bn in new cash from private investors for the August to October period. This amount, coupled with $194bn in bill issuance, will help fund an estimated $272bn of financing needs plus $200bn of cash balance increase.
Additionally, with a July debt limit suspension, bills are expected to increase by $130bn in August, although as DB notes, the risk is that it could run higher. The Treasury's decision to gradually rebuild its cash balance will help limit some of the pressure in funding markets. Higher repo rates would make issuance of front-end coupons more expensive. For example, 2yr Treasury-OIS has widened about 8bp in July since investors began expecting the August bill supply would put upward pressure on funding rates. In its refunding statement, the Treasury could signal that it would temporarily run a lower cash balance over the next several weeks, which should help alleviate funding market anxiety, although in light of the Treasury's forecast that seems somewhat contradictory. Indeed, with the Treasury's decision to quickly rebuild its cash balance back to a level it deems more prudent (say $350bn), the increase to bills over the next 4-6 weeks significantly exceeds most Wall Street forecasts.
The bipartisan deal to suspend the debt limit for two years also paves the way for a $324 billion increase in government spending over the period above existing budget caps. That’s emboldening most dealers to pencil in increases in debt sales by fiscal 2021, which starts in October 2020.
The House passed the debt-ceiling expansion and budget bill on July 25 and Senate Majority Leader Mitch McConnell said he expects his chamber to clear it this week for Trump’s signature.
This is good news for Washington's spenders… and a catastrophe for any deficit hawks left. With the president shoving aside past Republican orthodoxy on fiscal restraint and the issue not prominent among Democrats campaigning to take his job, Washington is showing no signs of slowing spending.
Which means that when it comes to fiscal conservatism, Trump is a Republican in name only, as the fiscal shortfall has continued to soar under Trump as tax cuts, bipartisan spending increases and entitlements weigh on the budget outlook. Meanwhile, socialist candidates for the 2020 presidential election are trying to attract voters with proposals that would only increase the gap such as MMT.
What’s clear - as Bloomberg concludes - is the backdrop puts the $15.9 trillion Treasury market on course to balloon in the next couple of years.
https://www.zerohedge.com/news/2019-07-29/us-treasury-now-expects-issue-over-800-billion-debt-two-quarters
hahahahahahaha