Market News

Boeing (BA)

Boeing awarded a design-build contract for its new Dreamliner assembly line to a joint venture between Charlotte-based BE&K Building Group, and Turner Construction, a New York firm that has enjoyed a long relationship with the aerospace manufacturer.
All three of these companies worked together to design and build the original Dreamliner-related assembly facilities in North Charleston, on the same campus where the new assembly line will be located.

Nov 9 · 4:17:00 PM · Source: Charleston Regional Business Journal
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by Michael Oliveto

Honeywell (HON)

Honeywell International announced that it has declared a regular quarterly dividend of $0.3025 per share on the Company's outstanding common stock.
The dividend is payable on December 10, 2009 to shareowners of record at the close of business on November 20, 2009.

Nov 5 · 1:28:00 PM · Source: Reuters
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by Michael Oliveto

GE (GE)

GE Money, the consumer lending unit of GE and Oreck Corporation announced an agreement for a new consumer financing program.
The Oreck Power Card is part of the GE Money Home Design revolving credit program, and enables consumers to enjoy affordable monthly payments, special promotional financing options and online account management.

Nov 5 · 12:49:00 PM · Source: Reuters
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by Michael Oliveto

General Dynamics (GD)

General Dynamics Armament and Technical Products has been awarded a $17 million contract to produce gun systems for the Phalanx Block 1B Close-In Weapon System (CIWS) and the Centurion Land-Based Phalanx Weapon System by Raytheon Missile Systems of Louisville, Ky.
The Phalanx Block 1B CIWS is the most recent upgrade of the Phalanx CIWS. Phalanx is a fully autonomous, radar-directed, rapid-fire 20mm Gatling-gun system that provides naval ships with the last line of defense against a variety of threats including anti-ship missiles, aircraft, high-speed watercraft and other air and surface threats.

Nov 5 · 12:41:00 PM · Source: PR Newswire · Related: Raytheon
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by Michael Oliveto

General Dynamics (GD)

General Dynamics C4 Systems, a business unit of General Dynamics announced that it has been awarded a $7.6 million contract to develop the new KG-530 SONET OC-768C in-line encryptor in support of an NSA initiative to secure and distribute data, at a full 40 gigabits per second line rate, used for government and military missions.

Nov 5 · 12:38:00 PM · Source: Reuters
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by Michael Oliveto

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

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