MIDEAST STOCKS - Factors to watch - Mar 26
DUBAI, March 26 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
Jan 24 Lockheed Martin Corp, the Pentagon's biggest supplier, said on Thursday that it expected higher earnings this year despite weakening sales, citing a record backlog and continued efforts to cut costs.
Lockheed, which builds everything from F-35 fighter jets, national security satellites to new coastal warships, said earnings per share had dropped 19 percent to $1.73 in the fourth quarter from $2.14 a year earlier, reflecting a large noncash pension adjustment, higher income tax expenses and a special charge for job cuts in its aeronautics division.
Analysts polled by Thomson Reuters I/B/E/S had expected fourth-quarter earnings of $1.82 a share.
Lockheed said it expected earnings per share to rise to between $8.80 and $9.10 in 2013, noting that its outlook assumed that the U.S. Congress would avert $500 billion in additional Pentagon spending reductions known as "sequestration" that are due to take effect over the next decade, starting in March.
March 25 Uber Technologies Inc suspended its pilot program for driverless cars on Saturday after a vehicle equipped with the nascent technology crashed on an Arizona roadway, the ride-hailing company and local police said.