Good Week  

Precision Castparts, whose shares have surged after stronger than expected first quarter results were posted on the back of growth in engine component sales and the acquisition of Special Metals earlier in the year. Shares were trading at over $61 on the New York stock exchange after the company posted net income in the first quarter, which included five weeks of Special Metals' operations, of $118 million, compared with $78 million in the same period a year earlier.

 

Lockheed Martin, whose potential multi-year deal to supply 60 F-22s to the US government is under threat after accusations of a conflict of interest. The impartiality of the head of the government think-tank that is backing a three-year deal - rather than annual contracts - is being called into question because of his position on the board of directors of EDO and his ownership of shares and stock options in the company, which has lucrative contracts on the F-22.

Bad week 

"The prime minister needs to be aware of the importance of the industry to the UK economic base…we should be backing our winners."

Richard Lambert, CBI director general, on the message he hoped Tony Blair would take from farnborough

 Richard Lambert & Tony Blair 

 

Source: Flight International