Where to now?

I'm short from 293.9 initial target 280.0 stop now at entry. If 280.0 goes next target 270.0.

Looks a good trade Chris, the chart is certainly looking down.

Less risky now stop at entry skinny, but you know what they are like similar to RR. if they win a contract sp jumps :O)

Closed @ 283.1 + 10.8

BAE Systems: building the UK’s new aircraft carrier

It is the second biggest engineering project in the UK behind the Olympics, generates enough energy to power every home in Swindon and has been a topic of political debate for years - the building of Britain’s new aircraft carriers is continuing apace.


See the latest images of the UK's new aircraft carriers

BAE Systems and Saudi Arabia sign £1.9bn Hawk jet deal

British defence giant BAE has signed a £1.9bn ($3bn) deal with Saudi Arabia to supply Hawk trainer jets.

According to trade union Unite 218 jobs at the East Yorkshire factory where the aircraft is made will now be saved.

Negotiations over the deal had been going on "for some time", according to a BBC correspondent.

BAE Systems plans to cut 105 jobs at Glascoed, Monmouthshire

BAE Systems is planning to cut 105 jobs at a munitions factory in Monmouthshire.

A total 620 people are currently employed at Glascoed. The firm said around 80% of the cuts will be contractor posts.

BAE blamed increased automation, as a result of a £50 million investment, and reduced demand for ammunition from the Ministry of Defence (MoD).

It said the cuts were "vital" for the site to remain competitive.

Old tank factory in Newcastle also shutting down (ex Vickers site) with the loss of hundreds of jobs (Originally employed over 20,000 workers when commissioned during the first WW).

19 July 2012

BAE Systems completes sale of BAE Systems Tensylon assets

19 July 2012

Further to the agreement announced on 8 June, BAE Systems has now completed the sale of the assets comprising its BAE Systems Tensylon High Performance Materials Inc. ("Tensylon") business to E. I. du Pont de Nemours and Company for cash consideration of $18 million.

Half Yearly report

FINANCIAL KEY POINTS

‑ Sales1 reduced by 10%

‑ Underlying EBITA2 reduced by 3%

‑ Underlying earnings3 per share4 increased by 1%

‑ Order backlog1,6 increased to £40.0bn

‑ Non-US and UK order intake1 increased to £4.3bn

‑ Interim dividend increased by 4% to 7.8p per share

‑ Operating business cash inflow7 increased to £742m

OUTLOOK

In line with previous guidance, modest growth in underlying earnings3 per share4 is anticipated, assuming a satisfactory conclusion to the Salam pricing negotiations in 2012 and excluding the benefit in 2011 of the Research & Development tax settlement. A higher level of operating business cash inflow7 is planned in 2012 including the anticipated benefit of cash receipts related to the Salam programme.

BAE Systems wins South Korea jet upgrade deal

LONDON | Mon Aug 6, 2012 2:41pm BST

(Reuters) - Britain's BAE Systems (BAES.L) on Monday said its U.S. unit BAE Systems Inc had won a contract to upgrade South Korea's fleet of more than 130 F-16 fighter jets.

BAE said the exact value of the project was still being negotiated but that it is expected to be worth in excess of $1 billion, the lion's share of which will go to Europe's largest defence contractor.

In auction +9.8%

Must be this from earlier :- Exane BNP Paribas reiterates Underperform TP 280p :-)

EADS Said to Explore BAE Combination in Aerospace Revamp

European Aeronautic, Defence & Space Co., the parent of Airbus SAS, is in negotiations with BAE Systems Plc (BA/) about a combination of the two companies, people familiar with the talks said.

The talks are at an advanced stage and the two companies are exploring a transaction that would allow London-based BAE to maintain its independence to sell into the U.S. defense market, said one of the people, who asked not to be identified because the talks are private. A final deal hasn’t been reached, and an agreement may still fall through, the people said.

EADS Chief Executive Officer Tom Enders said today at the Berlin air show that he had no comment. BAE spokespeople declined to comment.
Combining the two companies would create a European counterweight to U.S. aerospace companies including Boeing Co. (BA), Airbus’s main competitor in civil aviation.

Sadly missed this one skinny, good to see it back in form though ie does nowt then explodes on a contract win :O)

Stmnt re Share Price Movement

RESPONSE TO SHARE PRICE MOVEMENT

Further to the recent movement in BAE Systems' share price, BAE Systems plc (BAE Systems) and EADS N.V. (EADS) confirm that they are in discussions regarding a possible combination of their businesses. This potential combination would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges.

The discussions between the parties envisage that BAE Systems shareholders would own 40% and EADS shareholders 60% respectively of the enlarged group. It is contemplated that there would be a unified board and management structure with identical boards and executive committees at each of BAE Systems and EADS.

BAE Systems’ ( BAE ) proposed merger with European aerospace giant EADS is hogging the headlines, but BAE’s shares have this morning given up some of the sharp gains they made ahead of the announcement was published after trading closed yesterday. Maybe traders have digested the proposed deal and realised the complexity of it, which means any resolution will take months.

or may not go ahead.

how about a counter bid from thhe US?