Lockheed Martin Plagued by Cyber Attacks and 3 Hot Stocks Making Rounds
Lockheed Martin (NYSE:LMT) is experiencing a sharp upswing in the scale and sophistication of international cyber attacks on its networks. Chandra McMahon, Lockheed vice president and chief information security officer, said, “The number of campaigns has increased dramatically over the last several years. The pace has picked up.” In fact, now that Lockheed had fortified its own networks, the hackers were targeting Lockheed suppliers as a means to obtain information.
Advance Auto Parts (NYSE:AAP), a seller of car batteries and motor oil, has hired Blackstone Group LP to evaluate its strategic options. The company may provide attractive to suitors in view of people keeping their cars longer resulting in an increased demand for auto parts. Other attractions of the company include a low price to free cash flow multiple, low net debt, stable positive free cash flow and potential for margin expansion. The company’s network of 3727 stores could also prove attractive to rivals such as AutoZone and O’Reilly Automotive.
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After just five years in the country, Goldman Sachs (NYSE:GS) is shutting its South Korean asset management business because of intense competition from domestic institutions and slim profit margins. The unit has about $4 billion in assets and a staff of 40. “Our expectations for the local Korean asset management business have not been met,” Niklas Ekholm, a London-based spokesman for Goldman Sachs Asset Management, said.
Bank of America (NYSE:BAC) Chief Executive Officer Brian T. Moynihan reports that since taking over as CEO in 2010, he has sold more than $60 billion of assets through 30 deals aimed at streamlining the company and shoring up its capital. The Tier 1 common capital ratio of the bank rose to 9% in its third-quarter compared to 8% in the period last year.