U.S. Defence Budget Cuts Hurt BAE - Presented by: The Aol. On Network

It's a difficult time for many defence contractors - particularly those in Europe. And BAE Systems - the region's largest - says continuing cuts to U.S. government spending will hurt future profits. That sent shares plummeting 11 percent. The group managed a modest 3 percent rise for 2013. But said it expects sales in its North American business to shrink by up to a quarter over the next two years. IG's Brenda Kelly says the trend is affecting the entire industry.



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Company Last Sale Change Net / %
BAC $ 16.93 0.26 ▲ 1.56%
FTR $ 5.38 0.22 ▲ 4.26%
T $ 35.03 0.67 ▲ 1.95%
INTC $ 32.73 0.54 ▼ 1.62%
RF $ 10.30 0.17 ▲ 1.68%
PBR $ 8.82 0.10 ▼ 1.12%
CHK $ 13.56 0.49 ▼ 3.49%
FB $ 82.44 2.00 ▲ 2.48%

As of 6/3/2015, 04:15 PM