Conglomerates Sector Review: Raytheon Pulls 2 Contracts

Federal Signal Corp. (NYSE:FSS): Federated Signal announces it won a jury trial in Illinois over liability tied to defective sirens that firefighters alleged caused hearing losses. The company has had to defend itself against similar charges in separate trials in Pennsylvania and Illinois as well.

The shares closed at $4.16, up $0.07, or 1.71%, on the day. Its market capitalization is $258.74 million.

Olin Corporation (NYSE:OLN): Shares of Olin fall after Wells Fargo downgrades to Market Perform on a valuation call. Analysts with the firm cut EPS estimates for FY11 and FY12 to $1.65 and $2.00, respectively, on lower demand for chlorine .

The shares closed at $20.37, up $0.2, or 0.99%, on the day. Its market capitalization is $1.63 billion.

Dover Corporation (NYSE:DOV): Dover¬†is inexpensive, well-diversified and can take advantage of both steady and high-growth markets, says Barron’s. The bullish article may give the stock a boost this morning.

The shares closed at $58.68, up $0.51, or 0.88%, on the day. Its market capitalization is $10.88 billion.

ITT Corporation (NYSE:ITT): ITT completes the previously announced spin off of its Defense and Information Solutions business and its Water Technology and Services business. With the spin offs complete, ITT transitions into $2B company with four businesses that will focus on the industrial, aerospace, transportation, and oil and gas industries.

The shares closed at $20.22, up $0.17, or 0.85%, on the day. Its market capitalization is $1.88 billion.

Textron Inc. (NYSE:TXT): Textron moves higher after its Q3 swung to a profit on a 13.5% rise in revenue Y/Y absent prior-year charges and on strong sales in its Cessna and Bell lines of business. The company also raises guidance for FY11, now expecting an EPS of $1.05 to $1.15 a share, reflecting a recent tender for its outstanding convertible notes.

The shares closed at $19.11, up $0.1, or 0.53%, on the day. Its market capitalization is $5.32 billion.

Koninklijke Philips (NYSE:PHG): If Philips Taiwan chief Edward Po is right, more pain could be in store for LED industry players such as CREE, RBCN, LEDS, and VECO. While expecting the LED lighting market to show 30%-40% Y/Y growth in 2011, Po expects the strong price pressure caused by oversupply to trigger a wave of industry consolidation that will start in 2012, and last for 3-4 years.

The shares closed at $20.06, down $0.81, or 3.88%, on the day. Its market capitalization is $18.86 billion.

Siemens AG (NYSE:SI): Nokia Siemens Networks (NYSE:NOK) gets an order to upgrade Vodafone’s (NASDAQ:VOD) subscriber data management system in Egypt. Financial terms weren’t disclosed.

The shares closed at $97.58, down $1.27, or 1.28%, on the day. Its market capitalization is $85.31 billion.

Raytheon Company (NYSE:RTN): Raytheon says it’s landed two separate contract awards from the Naval Sea Systems Command totalling $72M. The first one is a project involving the Phalanx weapons systems, and the second NATO SeaSparrow surface missile systems.

The shares closed at $48.05, down $0.54, or 1.11%, on the day. Its market capitalization is $16.63 billion.