Conglomerates Sector Review: Smash Debut, Northrop Grumman Cut Costs in Q4
Raytheon Company (NYSE:RTN): Government contractors such as Northrop Grumman (NYSE:NOC) and Booz Allen Hamilton (NYSE:BAH) cut expenses during Q4 in order to keep their profits high, according to The Washington Post. Some analysts, however, question, whether the cost-cutting can continue over the long-term, the newspaper added.
The shares closed at $49.30, up $0.33, or 0.67%, on the day. Its market capitalization is $17.06 billion.
Siemens AG (NYSE:SI) Smart Grid division and TIBCO Software (NASDAQ:TIBX) will provide proven Smart Grid enterprise integration services to Consolidated Edison (NYSE:ED) for a Smart Grid demonstration project. The project is a result of Con Edison Co. of New York, or CECONY, receiving funding for the Smart Grid demonstration project from the Department of Energy through the American Recovery and Reinvestment Act, or ARRA, stimulus program.
The shares closed at $99.17, down $0.72, or 0.72%, on the day. Its market capitalization is $86.90 billion.
General Electric Company (NYSE:GE): Comcast’s (NASDAQ:CMCSA) NBC is set to broadcast its heavily promoted drama, Smash, for the first time tonight at 10 pm, according to The New York Times. The network is hoping that Smash, which is set on Broadway, will be its first hit show in a number of years, the newspaper added.
The shares closed at $19.05, up $0.03, or 0.16%, on the day. Its market capitalization is $201.12 billion.
3M Company (NYSE:MMM): FLW announced that it has reached an agreement with 3M, extending their partnership for the 2012 season. 3M will retain exposure across all platforms of FLW, including its tournaments, expos, multiple websites, and magazines.
The shares closed at $87.56, down $0.17, or 0.19%, on the day. Its market capitalization is $60.85 billion.
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