Market News

Raytheon (RTN)

Raytheon has received a $37.9 million delivery order from the U.S. Air Force to modify weapons data link equipment used in pilot training for F-15 fighter aircraft.
This is the second delivery order under a 2007 indefinite-delivery, indefinite-quantity (IDIQ) contract awarded to Raytheon Technical Services Company LLC (RTSC) for the Air Force Training Frequency Relocation (TFR) program. TFR is the Air Force's initiative to modify GBU-15/AGM-130 weapons data link equipment to comply with federal reallocation of radio frequencies from governmental to commercial use.

Feb 11 · 12:12:00 PM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Lockheed Martin (LMT)

The U.S. Navy awarded Lockheed Martin a $160 million follow-on contract for technical and engineering support of its land-based test facility for the Aegis Ballistic Defense (BMD) Weapon System.
Known locally as the “the Cruiser in the Cornfield” for its ship-like exterior appearance, the Navy’s Vice Admiral James H. Doyle Combat Systems Engineering Development Site (CSEDS) develops, integrates and delivers sophisticated computer software that allows the Aegis Weapon System to constantly evolve to meet the world’s emerging threats. CSEDS incorporates highly-integrated, classified, real-time networks that connect numerous contractor and U.S. government facilities.

Feb 11 · 12:05:00 PM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

United Technologies (UTX)

Pratt & Whitney Rocketdyne, a United Technologies company, has completed the initial step in certifying the RS-68A rocket engine by successfully hot-fire testing the first certification engine. The RS-68A is an upgrade of the RS-68, a liquid-hydrogen/liquid-oxygen booster engine that will provide increased thrust and improved fuel efficiency for the Delta IV family of launch vehicles.
"The RS-68A certification engine ran very well, and we obtained the data we needed to proceed with additional tests," said Jim Tibble, RS-68A engine development project manager, Pratt & Whitney Rocketdyne. "Development testing is complete, certification testing has started and it's an exciting time. We will be reviewing data to fully analyze engine performance, to verify compliance with requirements, and to ensure 100 percent mission success as we proceed through the certification process for this next-generation rocket engine."

Feb 11 · 12:00:00 PM · Source: PR Newswire
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Boeing (BA)

Boeing's board of directors has elected former U.S. Trade Representative Susan Schwab as its newest member.
Schwab, 54, was President George W. Bush's principal trade advisor and negotiator from mid-2006 through the end of the Bush administration in January, 2009. Since then she has taught at the University of Maryland's School of Public Policy. "We're privileged to have Ambassador Schwab join our board," said Boeing Chairman, President and Chief Executive Jim McNerney. "Her expertise will help shape our strategies toward the global market and the many international opportunities that are ahead of us."

Feb 11 · 11:53:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Honeywell (HON)

Honeywell announced that it would be turbocharging 70% of the U.S. diesel light truck segment following the launch of Ford's2011 Super Duty Trucks. Ford joins General Motors in adopting Honeywell turbo technologies to boost its line of light duty diesel trucks.
"Partnering with Ford to introduce our industry-first DualBoost technology on its iconic Power Stroke engines exemplifies our technology leadership and demonstrates our ability to provide customized turbo solutions that meet specific engine requirements," said Alex Ismail, President and CEO, Honeywell Transportation Systems. "We are confident that DualBoost will be another success story as part of our technology portfolio for light duty diesel trucks."

Feb 10 · 4:39:00 PM · Source: PR NewsWire
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

General Dynamics (GD)

The U.S. Army TACOM Lifecycle Management Command recently awarded General Dynamics Land Systems, a business unit of General Dynamics, $253 million for contractor logistics support of the Stryker family of combat vehicles.
Logistics support, vehicle resets and upgrades are a continuing portion of General Dynamics’ combat systems-related business. Work will be performed by existing General Dynamics employees in Alaska, Hawaii, Michigan, Pennsylvania, Texas, Washington, and overseas in Afghanistan, Germany, Iraq and Kuwait. The period of performance is March 1, 2010 through February 28, 2011.

Feb 10 · 4:33:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

GE (GE)

GE Energy Financial Services, a unit of GE, announced today that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of nearly $200 million.
In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy LLC. Their new alliance, Marlin Permian, LP, acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy, based in Lafayette, LA, will serve as both general partner of the partnership and operator of the assets. In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston Basin of North Dakota from Denver-based St. Mary Land & Exploration Company for $137 million. GE Energy Financial Services will serve as the limited partner, with Sequel, also based in Denver, serving as general partner and operator.

Feb 10 · 4:15:00 PM · Related: St. Mary Land
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

GE (GE)

General Electric, which already has significant interests in Brazil, plans to invest an additional $118 million in the South American nation this year.
GE's plans include an building a Research and Development center that will serve all of Latin America, $50 million on a medical and diagnostic equipment factory in the state of Minas Gerais, a $35 million on an airplane engine maintenance plant in the capital Rio de Janeiro, a $12 million locomotive factory, and a $21 million deep-sea oil equipment plant.

Feb 9 · 2:36:00 PM · Source: Energy Boom
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Previous · Next