Share on StockTwits

Europe’s biggest defense contractor BAE Systems warned on Thursday it expected earnings this year to drop by up to 10 percent as a result of U.S. spending cuts, with conditions still difficult, despite a recent budget deal in Congress. The British group, which had announced on Wednesday that it had finally agreed on a price increase on its sale of Eurofighter Typhoon jets to Saudi Arabia, saw its shares suffer their biggest one-day percentage fall since October 2008.

“BAE Warns U.S. Defense Spending Cuts To Hit Earnings This Year” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.