Market News

AMR (AMR)

AMR Corp's American Airlines is facing large fines as a result of an Federal Aviation Administration (FAA) two year long investigation over alleged safety violations. Both the FAA and the Department of Transportation, separately, will release reports outling apparent failures to identify and promptly resolve aircraft maintenance problems in 2008, which includes improperly securing wiring in 290 MD-80 jets, according to Dow Jones and the Associated Press.
The fine will likely be around $10 million according to unnamed officials. The amount is the same as was proposed against Southwest Airlines Co. (LUV) in March 2008 for missed examinations of structural cracks.

Feb 11 · 2:23:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek

AirTran (AAI)

AirTran Airways has recently announced that it has reached an agreement with its dispatchers, represented by Transport Workers Union, on a 48 month contract. The company has to still work through its pilot, and flight attendant contracts, according to the Jesup & Lamont report from Benzinga.
While the Jesup & Lamont report estimates AirTran Holdings, Inc. to make a loss of $0.15 per share in the first-quarter, the company can move to a positive earnings if the pricing is better than expectations. This would also hinge on the company securing an agreement with both the pilots and flight attenants.

Feb 11 · 1:12:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek

Raytheon (RTN)

Raytheon has picked up a $170 million contract to supply two variations of infrared Maverick air-to-surface missiles to the United Arab Emirates.
The sale concerns the AGM-65D and AGMG2 infrared-guided missiles that gained fame during the U.S.-led operation Desert Storm.

Feb 11 · 12:13:00 PM · Source: UPI
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

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

Previous · Next