Join The Discussion

 

Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

read more >

Glen Garden rezoning for distillery, attraction, goes forward on 7-2 Fort Worth council vote

Fort Worth Mayor Pro Tem W.B. "Zim" Zimmerman moved to approve the rezoning on a substitute motion, after Council member Kelly Allen Gray initially moved to deny the case.

read more >

Editorial: Convention Center, Will Rogers arena link is a sham

The folks at Fort Worth City Hall are trying to pull a fast one. Surprise, surprise, as the long-ago TV sitcom philosopher Gomer Pyle liked to say.

read more >

Will Rogers arena plan moves ahead on Fort Worth council's vote

City Council members voted unanimously on a resolution that says it supports a 50-50 public-private partnership for a new arena that also would pave the way to raze the city's Convention Center arena and replace it with modern meeting space.

read more >

Alcon partners with Google to develop smart contact lens

Swiss drug maker Novartis Group said July 15 that its eye care unit, Fort Worth-based Alcon, will join with a division of Google Inc. to develop and market a smart contact lens for all ocular medical uses.

read more >

 

What shutdown? Lockheed Martin soars

Ben Rooney

NEW YORK (CNNMoney) -- Lockheed Martin doesn't seem to be feeling the effects of the government shutdown.

The defense company and top government contractor said Tuesday that earnings jumped 16% to $2.57 per share in the third quarter. Analysts had forecast earnings of $2.26 per share, according to Thomson Reuters.

The results sent Lockheed shares up 3% in early trading. Shares of rival aerospace and defense company Boeing, which reports results Wednesday, were also higher.

Another company with big government contracts, United Technologie, also reported better-than-anticipated results on Tuesday. Its stock rose on the news as well.

Shares of defense contractors were among the hardest hit during the government shutdown. Lockheed and United Technologies each announced furloughs of some employees as a result of the shutdown.

Looking ahead, Lockheed now expects to earn between $9.40 and $9.70 per share in 2013, up from a previous estimate of between $9.20 and $9.50 per share.

However, Lockheed said sales were down 4% in the third quarter. The company has been hit by recent cuts in defense spending.

The outlook for 2014 is also less optimistic. Lockheed expects sales to decline a bit next year, although margins should hold steady.

The company's outlook is based on three assumptions: the government continues to fund the "key programs" where Lockheed has contracts, that Congress passes a budget "on a timely basis," and that forced cuts in federal spending known as "sequestration" are not worse than expected.

< back

Email   email
hide
Training Camp
Training camp is starting this week. How will the Dallas Cowboys do this season?