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General Dynamics (GD)

General Dynamics Armament and Technical Products received a $13 million order from the US Army TACOM-ARDEC for production of MK19 MOD 3 40mm grenade machine guns.
Deliveries are expected to begin in June 2010 and will be completed by late 2011. The MK19 grenade machine gun is a self-powered, air-cooled, belt-fed, blowback operated, crew-served weapon.

Nov 5 · 12:36:00 PM · Source: Defense Industry Daily
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by Michael Oliveto

FedEx (FDX)

FedEx said in a regulatory filing Friday with the Securities and Exchange Commission that the company was notified that the Internal Revenue Service was dropping its investigation into whether the company should have paid employment tax for the drivers of FedEx Ground service in 2002, a Moon-based subsidiary that the company runs using drivers it classifies as independent contractors.
The IRS is still auditing whether the those taxes should have been paid in 2004 through 2008. The IRS inquiry is one of a number of legal challenges facing the company regarding the company's use of independent contractors.

Nov 5 · 12:30:00 PM · Source: Pittsburgh Post Gazette
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by Michael Oliveto

Emerson Electric (EMR)

Emerson Electric Company today said third quarter earnings of $506 million, or 67 cents a share, down from $688 million, or 88 cents a share, a year earlier. Revenue dropped 21% to $5.32 billion. Emerson also boosted its dividend by a half cent to 33.5 cents a share, or an increase of 1.5%
Company's CEO said latest quarter's results showed improving revenue trends but he warned the shape and speed of the recovery remains unknown and said the company expected weakness to continue in the near term.

Nov 3 · 10:08:00 AM · Source: Company News
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by Larry Etter

Burlington Northern Santa Fe (BNI)

Warren Buffett's Berkshire Hathaway said Tuesday it will buy railroad operator Burlington Northern Santa Fe for $44 billion. Berkshire already has major stake in the company, and said it would acquire the remaining 77.4% of the company in a cash-and-stock offer worth $100 per share.
Buffett said deal shows his confidence in the U.S.economy.

Nov 3 · 9:50:00 AM · Source: Company News
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by Larry Etter

GE (GE)

General Electric announced the appointment of John Flannery as president and CEO of GE’s business operations in India.
Flannery, 47, will oversee GE’s new approach to India, which will consolidate all businesses into one team with an integrated strategy. This team will help GE grow in India through local partnerships, technology leadership and strategic investments. Flannery has been named a senior vice president of GE.

Oct 29 · 12:51:00 PM · Source: Business Wire
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by Michael Oliveto

General Dynamics (GD)

General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, has been awarded by the US Navy a $25 million contract for management and support of nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton, CT.
The contract has a potential value of $78 million over three years if all options are exercised.

Oct 29 · 12:48:00 PM · Source: Reuters
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by Michael Oliveto

Brink's Company (The) (BCO)

Brink's Co. today reported third-quarter net income of $34 million or $0.72 per share, compared to net income of $48 million or $1.03 per share in the same quarter last year. Revenues dropped 1% to $802 millon from $813 million.

Oct 29 · 10:38:00 AM · Source: Company News
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by Larry Etter

US Airways (LCC)

US Airways Group said Wednesday it would cut its staff by 1,000, or 3 percent, and shift its operations to focus on four key cities and its shuttle service, . The carrier said it would concentrate on its "core network strengths," which are its hubs in Charlotte, Philadelphia and Phoenix, as well as Washington D.C. and its shuttle between New York, Boston and Washington.
The company feels the move will return the airline to profitability

Oct 28 · 3:48:00 PM · Source: Company News Release
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by Larry Etter

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