ITI Inc (NASDAQ:ITCI) reported that for Q3 ended Sept. 30, 2014, its loss was narrower than expected, while revenue fell short of analysts' estimates, after declining about 82% year over year. The biopharmaceutical company, which develops drugs for the treatment of diseases and disorders of the central nervous system, posted Q3 net loss of $6.4 million or $0.22 loss per share, compared with the prior-year period's $4.9 million or $0.28 loss per share. Revenue was $0.12 million, down from $0.67 million in the same quarter last year. Analysts polled by Capital IQ were expecting a loss of $0.34 per share on revenues of $0.33 million. ITI Inc (NASDAQ:ITCI) shares closed at $15.50 with a 52-week range of $12.67 - $21.26.
Coverage of social media network Facebook Inc (NASDAQ:FB) has been initiated by analysts at Morgan Stanley with an overweight rating. The price target on the stock has been set at $90 a share, which represents a potential upside of 20% from its Friday closing price. Shares of Facebook Inc (NASDAQ:FB) are moving within a 52-week trading range of $43.55 - $81.16.Separate contract signings announced last week by Lockheed Martin Corporation (NYSE:LMT) and United Technologies' (UTX) Pratt & Whitney unit for the U.S. government to buy more F-35 aircraft from the companies gave their stocks a boost, but research firm Potomac Research Group cautioned Monday in a note to clients that investors must be concerned about margin pressure and downstream impacts. On Oct. 27, security-and-aerospace company Lockheed Martin said it and the U.S. Department of Defense and Lockheed Martin Corporation (NYSE:LMT) had reached an agreement in principle for the production of 43 F-35 Lightning II aircraft, with the Low-Rate Initial Production lot 8 (LRIP 8) contract expected to be finalized "in the coming weeks."On Oct. 30, Pratt & Whitney said it was awarded by the Defense Department a $793 million modification to a previously awarded contract for the eighth lot of F135 propulsion systems to power F-35 Lightning II aircraft. The modification raises the total contract value to $1.05 billion. Over the two trading days the followed the news of the LRIP contract for the eighth lot, which will deliver 48 total engines, UTX rose 1.1%. The lower unit pricing "is generally in line with expectations," Potomac Research Group told clients in a Monday note, as "steadily decreasing prices are essential to the long-term viability of the program."Still, the firm added: "While there are learning curve savings to justify LRIP 8's lower price, investors must be concerned about margin pressure on the two primes and downstream impacts on suppliers given the relatively flat quantities. Further cost reductions and better margins are dependent on supplier stability and larger procurement quantities." There is what Potomac described as a deal sweetener, though: "LRIP 9 and 10, the 2015 and 2016 buys, will be negotiated together, meaning that next year's contract will be for 153 aircraft, three and a half times the size of LRIP 8," the firm said.
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