Director/PDMR Shareholding

The Company was notified today that Charlotte Lambkin, a Person Discharging Managerial Responsibilities, exercised options over 8,226 ordinary shares of 2.5 pence each in BAE Systems plc under the BAE Systems Performance Share Plan at nil consideration on 22 February 2013 and subsequently disposed of 4,994 of those shares at a price of 350.087 pence per share. The transaction took place on the London Stock Exchange.

This stock has been pretty consistant for the last five years,rising in Nov/Dec then takes a bath around now. Way the market is going reckon it will easily go through 380.0, any sign of weakness good for a short punt.

Sell order triggered on the spreads @ 376.80 tight stop.

Out for now @ 383.71 - 6.91

Probably knitting fog, another bash at a short on the spreads @ 385.89 tight stop.

Stop to entry for risk free trade.

No sign of weakness whatsoever :O) Suspect increase in divi by 4% to 19.5p has a lot to do with it. (Ex-Divi 17/04 record date 19/04). If 400.0 breached can see 420.0 next resistance and 5 year highs. Think I'll just wait and see how it plays out next week still think it could go either way.

Had a go at breaking 400.0, may well crack it today.

Despite JP Morgan's downgrade to underweight from neutral today still a wee bit wary of going short yet. Ex Divi next Wed, lot can happen between now and then.

Another bash short @ 379.50 tight stop, initial target 360.0

I hope you mean 389.50! :-)

On Caps 379.50 skinny closed @ 378.70

Odd - when I looked there was a big white candle @389.8!

Long day!

Put my stop to entry today fully expecting to get stopped out after US jobs report, didn't happen.

Interim Management Statement

Trading for the period has been consistent with management expectations at the time of the 2012 results announcement on 21 February 2013 and our outlook remains unchanged. Modest growth in underlying earnings per share for 2013 is anticipated, subject to the continued uncertainties relating to US defence budgets. This excludes the benefit from the share repurchase programme initiated in February 2013. In addition, and assuming a satisfactory conclusion to discussions with the Kingdom of Saudi Arabia relating to the formalisation of price escalation on the Salam Typhoon programme, there would be a further increase of around 3 pence in underlying earnings per share.

This outlook does not reflect the impacts on US defence spending arising from Sequestration. In March 2013, legislation was passed to set funding levels for the remainder of the 2013 Fiscal Year, which has allowed some limited flexibility to enable near-term priorities to be pursued. In April, a Presidential Request for a Fiscal Year 2014 budget was tabled which would replace Sequestration with selective spending cuts. However, and notwithstanding these developments, there is at this point insufficient detail on which to base revised outlook assumptions.

With the announcement of the full year results in February, the Group initiated a share repurchase programme of up to £1bn over three years. Full implementation of the programme remains subject to satisfactory resolution of the Salam Typhoon price escalation negotiations. As at 7 May 2013, BAE Systems had purchased 17 million shares for £65m under the programme.

12+ month high today @445p

Half Yearly report

Financial key points
‑ Sales2 increased by 1%

‑ Underlying EBITA3 decreased by 6%. Deferred recognition of sales and profit relating to the formalisation of price escalation on the Salam Typhoon programme

‑ Underlying earnings4 per share decreased by 4%

‑ Order backlog2,6 increased to £43.1bn

‑ Non-UK and US order intake2 of £4.8bn in the period

‑ Interim dividend increased by 3% to 8.0p per share

‑ Operating business cash outflow7 of £815m

Ex-divi wed 23rd Oct (8p).

On watch list. Had a great year, but since August stuck in a range, twelve months high 470 ish end of September, recent low 430. Was hoping todays ex - divi date would push SP lower than it has to give a better entry. Sort of stuck in the middle bang on 50DMA. See what happens tomorrow may be worth a punt initial target 480.