BAE gone ex-divi today.

StockMarketWire.com
BAE Systems has completed the acquisition of OASYS Technology LLC, a US manufacturer of electro-optical systems and sub-assemblies.

BAE Systems paid an initial cash consideration of approximately $25m and there is a potential earn out of up to $30m.

Looking for a bounce, though probably dead cat. Limit Buy triggered @ 352.9 stop 345.0.

StockMarketWire.com
Defence contractor BAE Systems said trading for since 1st July has been consistent with its expectations. Changes from the UK Strategic Defence and Security Review are expected to result in some reduction in growth for 2010.

The outlook for 2010 remains subject to commercial discussions regarding cancellation of the Trinidad and Tobago offshore patrol vessel programme. Whilst the financial consequences cannot be definitively assessed at this time, as announced in September, the Group estimates a charge of up to 150m, before tax, may be required in its 2010 accounts.

The US defence market continues to generate a substantial number of business opportunities despite budgetary pressures. These pressures are leading to programme reprioritisations and a drive for greater efficiencies in procurement, which are helping to fund continued modest growth in investment on defence capability. Anticipating these changes, a restructuring of BAE Systems' operations in the US has been undertaken, reducing overhead cost to the benefit of both customers and shareholders.

Pressure to reduce government expenditure in the UK is reflected in the Comprehensive Spending Review. A UK Strategic Defence and Security Review (SDSR) was published in October. BAE Systems will now work with the UK Ministry of Defence to address the detailed implications of the changes identified by the SDSR. The Group believes that it can continue to help in achieving efficiency improvements and value for money enhancement in the way capability is generated and delivered. In aggregate, the Group anticipates some modest impact on performance of its UK business in 2010 from the changes and a reduction in the Group's financial planning assumptions resulting in an approximately one pence reduction in earnings per share, per annum, thereafter.

Previously announced actions to reduce cost across the Group include net headcount reductions of approximately 7,000 (including contractors) in the year to date.

The Group's programme to return up to 500m to shareholders by way of on-market purchases of shares completed in July. The average cost of shares purchased was 3.49.

In August, the Group's $500m (316m) 4.75% bond matured, having been pre-financed by a $1.5bn (949m) bond issuance last year.

Excluding M&A activity, a cash inflow continues to be anticipated in the second half of 2010. Achievement of receipts due on the Salam programme in the final quarter will be a material determinant of the year's cash flow performance.

BAE Systems will announce its financial results for the year ending 31st December 2010 on 17th February 2011.

Stop moved to entry, risk free trade.

StockMarketWire.com
BAE Systems has agreed the sale of its container solutions assets in Berthoud, Colorado to Rocky River Holdings LLC for $1m in cash.

The Berthoud facility manufactures highly specialised shipping containers for the US Armed Forces.

About 1,350 British jobs are to be lost at BAE Systems, the company is expected to announce today. The job cuts represent the first tranche of defence layoffs to be announced since the Government's review of defence spending led to the decision to axe the Nimrod and Harrier aircraft, which BAE Systems was building, reports the Times.

Limit Buy @ 352.2 target 370.0 stop 346.2

Stop to entry for risk free trade.

Chris - this may be of interest. (I closed my short late December)

The Government will announce the first big review of its relationship with monopoly suppliers in more than four decades today as it tries to save taxpayers' money. The review will be led by the Ministry of Defence, which spends about 9bn a year with companies on a non-competitive basis. Equipment such as nuclear submarines can usually be bought only from a single supplier, so contracts have to be negotiated without the benefit of competitive pressure to keep costs down, the Times reports.

Thanks skinny.

Stopped out for nowt.

Limit Buy 353.5 (Hang on, just check that again. Aye 353.5)

LOL. not that daft then.....yet!

cc 347p are you still interested?

halifax - Aye, obviously limit buy not triggered, as long as stays above 50DMA tomorrows another day.

Gone long here@330.3.

Interim Management Statement.

Closed +10.7

BAE Systems Fined Up To $79 Million By US Department Of State
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Bae Systems (LSE:BA.)
Intraday Stock Chart
Today : Tuesday 17 May 2011


BAE Systems PLC (BA.LN), the defense company, Tuesday said it will pay a fine of up to $79 million after reaching a civil settlement with the U.S. Department of State in connection with violations of the U.S. defence export control regulations that were the subject of the company's earlier settlement with the United States Justice Department, announced Feb. 5.

MAIN FACTS:

-The fine will be payable over a period of three years, subject to a reduction of up to $10 million in respect of the cost of enhanced export control compliance measures already implemented by the company and planned for implementation during the four-year period.

-In addition, a limited number of the company's U.K.-originated export programs will be subjected to enhanced administrative review, which is not expected to adversely impact the company's current or future export programs.

-The Company will also make additional commitments concerning its ongoing compliance.

-Shares closed Monday at 339 pence valuing the company at GBP11.58 billion.

-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308; peter.evans@dowjones.com

BAE Systems To Sell Regional Aircraft Asset Management Business

Today : Thursday 26 May 2011


Defense and aerospace firm Bae SYSTEMS PLC (BA.LN) said Thursday it has agreed to sell its Regional Aircraft Asset Management business and companies owning 151 regional aircraft to investment affiliates of Fortress Investment Group LLC (FIG) for $187 million in cash, subject to adjustment.

MAIN FACTS:

-Any adjustment to consideration will reflect the difference between the estimated and actual trading and aircraft sales from Jan. 1 up to completion.

-Up to $21 million of consideration will be deferred pending transfer of title of certain aircraft.

-Certain of the aircraft-owning companies are funded through the Systems 2001 Asset Trust financing, a private placement of debt securities completed in 2001.

-BAE Systems has also entered into an agreement with the relevant parties to the private placement, which provides for the acquisition and redemption of $514 million of the Series G Equipment Notes and Series B Equipment Notes issued under the Systems 2001 Asset Trust financing.

-Sale of the business will result in a small increase in the interest charge with the redemption of the structured finance but won't result in any material charge to profit and loss account.

-Net impact of the changes to financing and proceeds of the sale is expected to reduce the group's net debt by $180 million.

-Completion of the sale of the business is conditional upon, among other things, receiving regulatory approval and is expected to take place during the third quarter of 2011.

-BAE shares at 1255 GMT down 0.2% at 330 pence valuing the company at GBP11.29 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com