Capital Goods Sector Review: Ocean Energy, Boeing On Track

Spirit AeroSystems Hldgs (NYSE:SPR): Reports Q4 revenue $1.22B vs. consensus $1.13B. Fully-diluted EPS of 42c includes 10c per share favorable adjustment for block closeout and (25c) per share related to new program charges.

The shares closed at $24.16, up $1.08, or 4.68%, on the day. Its market capitalization is $3.45 billion.

The Boeing Company (NYSE:BA) is fixing a problem with the way the skin on the 787 is attached to the tail section and this latest problem should not slow production says Chairman and CEO Jim McNerney, Seattle Time reports. According to McNerney, Boeing is still on track to build 3.5 planes per month by the middle of this year and 10 per month by late next year.

The shares closed at $75.90, up $0.44, or 0.58%, on the day. Its market capitalization is $56.52 billion.

Deere & Company (NYSE:DE): The Department of Agriculture lowered its projection for U.S. feed grain ending stocks for 2011/12, citing corn and oats imports being more than offset by higher expected corn exports. Corn ending stocks projections were dropped 45M bushels, to 801M. Season average farm corn price forecast was narrowed 10c on both ends of the range, to $5.80-$6.60 per bushel. Global coarse grain supplies for 2011/12 are projected 3.1M tons lower, on reduced corn production from Argentina and Paraguay.

The shares closed at $87.93, down $0.57, or 0.64%, on the day. Its market capitalization is $35.47 billion.

Lockheed Martin Corp. (NYSE:LMT): A government-sponsored study says that the oceans surrounding the U.S. have enough energy to potentially supply over half the nation’s electricity demand, according to a Forbes report yesterday, but only 5 MW, or enough to light about 4K homes, is currently being exploited. The article highlights advances that may change that, specifically discussing the partnership between Lockheed Martin (NYSE:LMT) and Ocean Power Technologies (NASDAQ:OPTT).

The shares closed at $88.01, up $0.37, or 0.42%, on the day. Its market capitalization is $28.26 billion.

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