For Immediate Release
Chicago, IL – December 16, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: General Dynamics Corp. (GD), Honeywell International Inc. (HON), Lockheed Martin Corp. (LMT), Royal Dutch Shell (RDS.A) and PetroChina Co. (PTR).
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Here are highlights from Tuesday’s Analyst Blog:
General Dynamics in TRIDENT Club
General Dynamics Corp.’s (GD) business unit General Dynamics Advanced Information Systems has been awarded a contract to produce integrated circuits for the U.S. Navy’s Trident II (D5) ballistic missile program. This is a three-year contract with a total potential value of $110 million. The multimillion dollar contract also maintained its brisk pace in order booking of General Dynamics. In the recent quarter, the company took the total backlog to $66.2 billion, compared to $60.5 billion in the year-ago quarter.
The principle subcontractor to General Dynamics in the contract is Honeywell International Inc. (HON). Work on the contract will be performed at General Dynamics’ Plymouth, Minnesota, facility.
The contract is part of the Navy’s TRIDENT Life Extension Electronic Parts Program (LEEPP). LEEPP’s primary contractor is Lockheed Martin Corp. (LMT). The program is designed to extend the service life of the TRIDENT submarine and the Trident II (D5) missile.
Shell Nabs Iraq Oil Field Bid
Royal Dutch Shell (RDS.A) has won a contract to redevelop Iraq’s massive Majnoon oil field. Located in southern Iraq, the Majnoon field holds an estimated 12.8 billion barrels of oil.
Shell will operate the Majnoon project and hold a 45% share. Petronas, Malaysia’s state oil company will hold 30% and Iraq will hold the rest.
Shell has accepted a very low fee of $1.39 a barrel and promised to boost the Majnoon field’s production to 1.8 million barrels a day from the current production of 46,000 barrels per day.
Shell owns one of the largest integrated oil and gas businesses in the world. The company has operations all over the world and is involved in various activities related to oil and natural gas, chemicals, power generation, renewable energy resources and other energy related businesses.
While Shell has been lagging along with its peer group in terms of upstream growth prospects, the recent contract award will definitely be a significant upside. In the last week, Shell also entered into an agreement to develop shale gas resources in southwestern China’s Sichuan province with PetroChina Co. (PTR).
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