BAE Systems Cuts Earnings Outlook

BAE Systems PLC on Thursday cut its earnings outlook for the year and said it would reduce production and jobs for the Typhoon combat jet after failing to secure export business it had expected to win. BAE Systems said full-year earnings per share should be 38 pence, the same as last year, after previously saying they would be “marginally higher,” the London-based arms maker said on Thursday. Earnings would have been lower if not for a 2 pence-a-share tax benefit.

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