Corporate Bits | Lockheed Martin’s second-quarter profit beats analysts’ estimate

A life-size model of US planemaker Lockheed Martin’s F-35 Lightning Joint Strike Fighter II

Lockheed Martin Corp., the largest US government contractor, has topped analysts’ estimates for its second-quarter profit and sales on the strength of its aircraft division. Net income rose 3.5 percent to USD889 million, or $2.76 per share, from $859 million, or $2.64 per share, a year earlier. This was in part due to lower pension costs, the company said today in a statement. Lockheed also boosted its full-year profit outlook.
The maker of the F-35 jet, the Pentagon’s most expensive weapons system, was the first of the five largest federal contractors to report earnings this week. Like other big Pentagon suppliers, Lockheed has been cutting costs to maintain profitability, as government budget reductions and the wind-down of the US-led military presence in Afghanistan hurt sales.

Miguel Angel Jiménez and Thongchai Jaidee challenge for venetian macau open title

Miguel Angel Jiménez of Spain and Thailand’s Thongchai Jaidee have announced that they will be competing at this year’s USD900,000 Venetian Macau Open, which will be held at the Macau Golf and Country Club from October 23–26.
The two golfers recently captained their respective continents to a dramatic tie at the inaugural EurAsia Cup in Malaysia earlier this year, with Thongchai dragging Team Asia back from the brink of defeat to claim a draw against Miguel’s men on the final hole of the match.
Jiménez and Jaidee are both multiple winners on the European and Asian Tours, with a remarkable 36 titles between them. The tour veterans are showing no signs of slowing down with both having won already this year. In May, Jiménez claimed the Open de España for the first time in 27 attempts, in the process breaking his own record as the oldest-ever winner on the European Tour at 50 years and 133 days.  Not to be outdone, Thongchai clinched his second European Tour title at the Nordea Masters in June, fending off EurAsia Cup foes Victor Dubuisson and Stephen Gallacher in a play-off.
Jiménez is no stranger to golf fans in Asia, and enjoys an almost cult following thanks to his love of fast cars and fine Rioja. “The Mechanic,” as he is also known, is a four-time winner of the Hong Kong Open (2004, 2007, 2012 and 2013). Despite being a familiar face in the region, he will be making his debut in Macau this year. “I love playing in Asia, and I’ve enjoyed great success in the region. I am really excited about coming to Macau and playing the event for the first time. I have heard a lot of great reviews of the tournament from my fellow pros, how much fun the city is, and how beautiful the course is.  It is time for me to experience it all firsthand, and I’m really looking forward to it,” he said.