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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Name:
    Location: The mouth of being

    I'm furious about my squandered nation.

    Sunday, September 30, 2007

    General Dynamics profit expected to be undented by an Iraq pullout

    General Dynamics, the worst-performing stock among the five largest U.S. defense companies, may outpace competitors like Raytheon and Northrop Grumman as investors gain confidence that a U.S. pullout from Iraq will not hurt profit at the company, which is the biggest supplier of combat gear to the U.S. Army.

    U.S. troops in Iraq might need armored vehicles and tanks from General Dynamics for years to come, while allies are preparing to step up purchases to modernize their own militaries, said Erik Becker, co-manager of the Waddell & Reed Advisors Core Investment fund, based in Overland Park, Kansas.

    "The U.S. military presence in Iraq and Afghanistan will continue for longer than people expect," Becker said.

    In addition, revenue from business jets will help the stock rise 25 percent to $105 in the next 12 months, he said. General Dynamics trailed other U.S. defense companies most of the year.

    [...]

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