Spotlight On Defense

Raytheon’s chief operating officer Thomas Kennedy will take the reins as the defense contractor’s chief executive on March 31 as long-time CEO William Swanson prepares to retire.

Smith & Wesson reported booming sales in its most recent quarter, and the gun maker raised its guidance for the second time in two months amid a fresh buying frenzy.

United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co , on Friday said 12 executives would leave the company in December under a voluntary layoff, a 30-percent reduction in executive ranks.

Lockheed Martin chief executive Marillyn Hewson was given the additional title of chairman, replacing Robert Stevens.

Raytheon's third-quarter earnings fell 2.8% amid declining revenue, but the defense contractor lifted its outlook after topping forecasts.

United Tech said it will be forced to furlough thousands of workers at its aerospace businesses if the government shutdown lasts until next week.

The security consulting firm saw its shares slide after one of its employees owned up to leaking secret data about National Security Agency programs.

The defense heavyweight raised its dividend by 11% to 61 cents a share on the heels of last month’s better-than-expected earnings.

Sturm Ruger, which booked a large increase in sales during the holiday quarter, said the presidential election will drive gun demand in 2016.

Sturm, Ruger & Co. recorded a 45% surge in 3Q sales amid robust demand for new firearms, lifting the gun maker’s profit.

United Technologies reported a 1.2% improvement in its third-quarter profit, driven by stronger Otis and aerospace sales.

Honeywell reported 4.2% profit growth for the third quarter, as a performance-materials acquisition offset weakness in the company’s defense unit.

Boeing sent a shockwave through the aerospace industry on Wednesday with a 2016 outlook that calls for fewer commercial airplane deliveries and some production cuts.

Lockheed Martin said it reached a deal to combine its information systems and government services business with Leidos Holdings, and reported higher-than-expected quarterly profit and revenue.

Lockheed Martin said it plans on slicing 4,000 jobs, or 3% of its workforce, to deal with declines in U.S. spending. 

Boeing's profit jumped 12% in the third quarter, as the aerospace giant’s commercial aircraft unit outweighed softness at its defense business.

Lockheed Martin's third-quarter profit soared 20.1% in spite of weaker sales and Pentagon budget cuts, spurring the No. 1 defense contractor to boost its 2013 earnings outlook.