Home / News / Weekly Roundup October 17 – October 21, 2016: 3Q Financial Season Not Just Earnings & more

Weekly Roundup October 17 – October 21, 2016: 3Q Financial Season Not Just Earnings & more

October 17 – October 21, 2016

A Note From Our President & Founder Jim Garrettson

Another third quarter earnings reporting season is now underway for many large blue chip companies including some in the government contracting arena but that is merely one of many things looming over the business and GovCon communities.

The Federal Reserve meeting Nov. 1-2 and of course the presidential election the following week are giving investors additional dynamics to consider along with the seasonal gauging of financial performances at some of the world’s largest corporations.

Most traders expect no interest rate hike by the Fed in November but are leaning toward a move in December, are attempting to make sense of a chaotic election and trying to figure out how businesses are navigating the current political and economic environments.

Many companies have decided to show extreme caution in their guidance to The Street as only 21 S&P 500 corporations issued financial outlooks in September to show a record low for any month since 2000, per the Wall Street Journal.

Against that backdrop, third quarter financial season for government contractors including those in our GovCon Index started this week with reports from S&P 500 firms Textron and Honeywell.

Textron’s stock spiked 3 percent Thursday after the aircraft maker reported year-over-year earnings and revenue increases for the July-September period, while Honeywell shares added three-quarter a percent Friday as of midday on mixed results with some growth-oriented guidance.

Next week is the traditional primetime week for the large GovCon primes as Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, Raytheon and L-3 Communications will all disclose third quarter results and speak with analysts to discuss defense market conditions and outlooks.

DigitalGlobe will also detail its financial picture to investors nearly two weeks after the satellite imagery giant announced the $140 million acquisition of The Radiant Group.

This season figures to more than just about dollars and cents for GovCon firms and investors as the defense spending and post-election environments all contribute to a very murky picture.

THE WEEK’S OTHER TOP 10 GOVCON STORIES

DOT Taps Engility for Potential $369M FAA Air Traffic Mgmt System Update Contract
Engility CEO Lynn Dugle said the company will collaborate with DOT to develop and deploy technology platforms to operate the U.S. air transportation system.
Navy Adds Northrop to MQ-25 Carrier UAS Risk Reduction Program
Northrop joins Boeing, General Atomics and Lockheed Martin as participants in this phase of a program to build a carrier-based unmanned drone.
Bill Birkhofer on Jacobs’ Support for US Space Program & Cyber-Physical Infrastructure Convergence
Birkhofer also explains in this Q&A with ExecutiveBiz the company’s strategy behind its purchase of Van Dyke Technology earlier this year.
NASA Launches Orbital ATK’s Cygnus Spacecraft for 6th ISS Cargo Resupply Mission
Cygnus is scheduled to arrive at the International Space Station Sunday for a one-month stay to support scientific experiments on the ISS.
Leidos to Maintain CBP Border Inspection Systems Under Potential $155M Contract
Leidos intelligence business lead Tim Reardon said the company will work with CBP to secure land border crossings, airports, seaports and rail crossings.
CSRA Lands $114M Task Order to Help Secure Pentagon’s IT Networks
Work under the four-and-one-half year order will encompass development and implementation of a new strategy to mitigate hostile network activity.
Air Force Wants Small Biz Partners for New $950M ‘Agile’ Cyber Tech Program
Between four and six prime positions on the five-year program are up for grabs on this contract for cyber technology development support services.
D-Wave Unveils US Gov’t Subsidiary, Names Independent Board Members
Former Lockheed Martin special programs president Jeffrey Harris will act as chairman of the quantum computing company’s new federal business.
In-Q-Tel Invests in MapD Database, Visualization Platform
Intelligence community investment arm In-Q-Tel previously disclosed investments in analytics companies ZoomData and Ephesoft earlier this year.
MapR Creates Federal Advisory Board to Aid Govt Clients in IT Modernization Efforts
San Jose-based MapR appointed veterans of defense, intelligence and law enforcement agencies to help steer the company’s government business.

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