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World's largest chemical company $DWDP reported a 4Q17 GAAP loss attributable to the company of $1.26Bil or $0.54 per share, driven by restructuring costs and write-down in asset values. Pro forma adjusted EPS, however, jumped 41% from a year ago. Correspondingly, revenue jumped 13% YoY, with net sales of $20.1Bil, helped by robust product demand.
Intel's revenue rose 4% in 4Q to $17.1Bil vs. last year. $INTC recorded an one-time tax charge of $5.4Bil due to tax reforms, which resulted in net loss of $0.7MM and loss per share of $0.15 for 4Q. Data Center Group continues to perform well for the chip maker growing 20% whereas its biggest segment Client Computing Group slipped 2% to $8.9Bil.
$NOC continues to expect that capital expenditures will remain elevated in 2018 and 2019 before starting to return to a new normal that reflects a larger business. For 2018, the company does have additional CapEx as well as $100-150MM in costs from incremental interest and transaction cost related to its pending acquisition of $OA.
For 2018, $NOC expects Technology Services sales to be in the mid $4Bil range, with an operating margin rate of about 10%. Lower 2018 revenue is primarily due to expected declines in the KC-10 and JRDC programs. Lower revenue for these programs is being partially offset by growth in other programs.
For 2018, $NOC expects Mission Systems sales to grow to the mid to high $11Bil range with an operating margin of about 13%. Primary revenue growth drivers include continued ramp-up on combat avionics and communications programs, including F-35 sensors, SABR radar, and infrared countermeasures.
For 2018, $NOC expect Aerospace Systems to grow at top line at a high single-digit rate to the high $12Bil range. Growth in restricted activities will continue to be a major driver of revenue growth, along with continued ramp-up on the F-35 program. The company expects 2018 operating margin at Aerospace Systems to be in the low to mid 10% range.
$NOC currently expect the $OA transaction to close in 1H of this year. In late November, $OA shareholders overwhelmingly approved the terms of the transaction. The FTC is reviewing the proposed transaction in the U.S. in consultation with the DoD and $NOC notified the European Commission on Jan. 18 under the simplified procedure notice.
$BHGE, a provider of oilfiled products and services, reported a net loss of $29MM or $0.07 per share in 4Q17. In the preceding quarter, the company had reported a loss of $0.24 per share. On a non-GAAP basis, Baker Hughes posted earnings of $0.15 per share in 4Q17. Total revenues were $5.76BIl, down 3% compared to the year-ago quarter.
Biotech giant $BIIB posted a loss for 4Q17, impacted by charges due to US tax reform. Net loss for the quarter was $297MM or $1.4 per share vs. a profit of $649MM or $2.99 per share a year ago. Revenue however jumped 15.1% to $3.30Bil, driven by higher Multiple sclerosis and SPINRAZA sales. On an adjusted basis, $BIIB earned $5.26 per share.