ITT Corporation (ITT) reported third quarter 2009 net income from continuing operations of $190 million or $1.03 per share, exceeding the Zacks Consensus Estimate of 89 cents.   The results included the effects of improved operating performance primarily driven by productivity initiatives. Revenue for the quarter was $2.7 billion, down 6% year-over-year and down 4% excluding the impact of foreign exchange and acquisitions on a comparable basis.   In the Defense Electronics & Services segment, revenue of $1.57 billion was up 2% over the comparable period in 2008. The segment recorded growth in revenues at every value center, except for the Communications Systems division, where the expected reduction in domestic SINCGARS radio deliveries resulted in a negative comparison.

In Fluid Technology, third quarter 2009 revenue was $826 million, down 13% year-over-year and 10% organically. Results outperformed expectations, despite challenged industrial, municipal and residential market conditions.

In Motion & Flow Control,

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For Immediate Release

Chicago, IL – November 4, 2009 – Zacks.com releases the latest Industry Outlook. Today, Zacks Equity Research discusses the Aerospace & Defense sector, including United Technologies Corporation (UTX), Oshkosh Corporation (OSK), The Boeing Company (BA) and Honeywell International Inc. (HON).

A synopsis of today’s Industry Outlook is presented below. The full article can be read at http://www.zacks.com/stock/news/26834/Aerospace+%26amp%3B+Defense.

With core defense spending expected to slow, U.S. defense contractors need to identify additional revenue sources for the coming years. 2009 holds potential for interesting merger and acquisition (M&A) activity, mostly smaller deals by larger A&D firms to fill in capability gaps -- particularly in the security, defense electronics and aftermarket services business areas. U.S. defense firms may see opportunities in credit-squeezed markets to pick up U.S. assets at historically low price-to-earnings multiples.

Some large companies are expanding into the adjacent markets

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OVERVIEW Inherently, big defense contractors are expected to eliminate jobs as the Pentagon has lowered spending on traditional weapon systems, while smaller, niche companies may accelerate hiring as the United States garners resources to protect ground troops and strategic computer networks. Industry pioneer Lockheed Martin Corporation (LMT) aims to reduce 600 jobs as a result of the US Defense Department's decision to terminate the VH-71 presidential helicopter program. The Boeing Company (BA) hinted that Pentagon cuts would claim 1,000 jobs in its defense business, affecting staffing at various work sites in the United States in missile defense and in the Army's Future Combat Systems modernization program, which is now being opened to more competition. The large commercial aircraft sector is expected to generate most of its revenue from Asia Pacific Japan (APJ) and the Middle East, relying less on U.S. orders because of the ...

DrStockPick.com Stock Report!

Wednesday August 12, 2009

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Cisco (NASDAQ: CSCO) and AIESEC, the world’s largest student-run organization, have launched an innovative program to provide Malaysian students with the opportunity to expand their skills and gain valuable international work experience. The initiative is in line with the Malaysian government’s call for more public-private sector collaboration to support the education and development of a highly skilled, technology-savvy workforce that can compete in the global arena.

The Bank of New York Mellon Corporation (NYSE: BK) announced it has agreed to acquire Insight Investment Management Limited (”Insight Investment”) from Lloyds Banking Group plc for 235 million pounds Sterling. Based in London, Insight Investment specialises in LDI (Liability

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Elbit Systems Ltd. (ESLT) reported first-quarter earnings of $1.02 per share this morning, matching the consensus estimate.

The maker of defense electronics said revenue grew 7% to $656.9 million, driven by sales of communication equipment and unmanned air vehicle systems.

Elbit also said that it anticipates double-digit growth in revenue during fiscal 2009.

Meanwhile, the full-year consensus estimate has remained unchanged at $3.88 per share over the past 60 days.

Shares of Elbit, a Zacks #3 Rank ("Hold") company, have gained almost 7% to $60.44 in afternoon trade on higher-than-usual volume of approximately 21,000, compared to average daily volume of about 17,000.

"ESLT" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

One of Zacks.comÂ’s several trading services, the Breakout Trader, recently received a boost in the form of a 19% return on a stock that was in the portfolio for a holding period that was a couple days short of just one month. The stock was American Science & Engineering ( ASEI), and its share price is still rising.

Impressed by American Science & EngineeringÂ’s results, I set out to find similar plays, making sure the fundamentals were strong. After browsing several companies, it became evident that my screening strategy should be narrowed down to companies that, like ASEI, provide big ticket items serving industrial markets.

With the use of Research Wizard, I found AZZ incorporated (AZZ) and Teledyne Technologies, Inc. (TDY). I also discovered that all three companies are makers of industrial electronic equipment or components, bringing to mind the only memorable part of the

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