Year: 2018

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Lockheed Martin shares fall as cash flow outlook disappoints

April 24, 2018 admin Comments Off on Lockheed Martin shares fall as cash flow outlook disappoints

Lockheed reported a better-than-expected quarterly profit and raised its full-year forecast, helped in part by higher sales of its stealthy F-35 combat jets. The outlook for annual cash flow was the only major financial category that Lockheed did not revise higher. “There could be some modest disappointment that the cash guidance has not been raised, but it is early in the year and cash is trickier to predict,” analyst Robert Stallard of Vertical Research said in a note. …read more […]

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PG&E, Edison Surge as California Amends a Bill on Wildfires

April 24, 2018 admin Comments Off on PG&E, Edison Surge as California Amends a Bill on Wildfires

California utility giants PG&E Corp. and Edison International surged on Tuesday as California policy makers amended a bill to address future wildfire damages that the companies may be on the hook for. California senators were amending legislation on Tuesday to detail what utilities may be responsible for covering if their power lines were the cause of future wildfires, Paul Payne, a spokesman for state Senator Bill Dodd, a sponsor of the bill. PG&E surged as much as 7.3 percent on the news, and Edison jumped 4.1 percent. …read more […]

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Wall St sunk by corporate cost warnings, bond nerves

April 24, 2018 admin Comments Off on Wall St sunk by corporate cost warnings, bond nerves

Google-parent Alphabet (GOOGL.O) sank 4.9 percent, erasing all its gains for the year, as investors focused on the company’s rising expenses and shrinking margins rather than a profit beat. Caterpillar (CAT.N) sank 6.6 percent after it warned of the impact of steel price hikes on its business. The stock had gained as much as 4.6 percent earlier on a strong set of quarterly results and full-year outlook. …read more […]