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Lockheed Gets $99M Modification on Navy EW System Upgrade Contract

Lockheed Martin‘s (NYSE: LMT) rotary and mission systems business has secured a $98.5 million contract modification to update the U.S. Navy‘s AN/SLQ-32 electronic warfare system. The Defense Department said Friday the modification covers full-rate production of the Surface Electronic Warfare Improvement Program‘s Block 2 subsystems. Block 2 is designed to provide updated …

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Report: Former Unicredit CEO Alessandro Profumo to Succeed Mauro Moretti as Leonardo CEO

Alessandro Profumo, former CEO of Italian bank Unicredit, has been tapped by the Italian government to succeed Mauro Moretti as CEO of Leonardo, Defense News reported Saturday. A spokesman for Italy’s finance ministry told Defense News that Profumo will work to support the state-controlled defense contractor’s business development efforts in the …

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Reuters: Germany Eyes $966M Lockheed C-130J Aircraft Procurement

Germany looks to procure six C-130J Super Hercules airlifters worth approximately $966 million from Lockheed Martin (NYSE: LMT) as part of a joint operating agreement with France, Reuters reported Friday. Andrea Shalal writes Germany aims to send a formal request to the U.S. government in 2019 to buy C-130Js in support of European defense cooperation efforts. The report said France …

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GlobalFoundries Lands $100M DMEA Microelectronics Contract Option

GlobalFoundries U.S. 2 LLC has secured a one-year, $99.8 million contract modification from the Defense Microelectronics Activity to provide the Defense Department and federal civilian agencies access to microelectronics and other trusted processes. DoD said Friday the company will perform contract work in Burlington, Vermont and East Fishkill, New York through March 31, 2018. …

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March 20 Morning Report: GovCon Index Closes Week in the Positive as Fed Raises Rates To 1.00 Percent

On Wednesday of last the Federal Reserve raised rates by one quarter point to 1.0 percent, while giving a strong indication of the potential for two additional rate increases to come later in the year. Executive Mosaic’s GovCon Index moved up to end the week in the positive. The Index closed …

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March 17 Market Close: GovCon Index Ends Week Up, as Markets Show Modest Weekly Gains

Executive Mosaic’s GovCon Index moved contrary to the markets today to end the week in the positive. The Index closed at 94.094, up 0.853 percent from the week’s open. The markets closed mixed for the day with the S&P 500 and DJIA closing down, 0.13 percent and 0.10 percent respectively. The …

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Retired Air Force Gen. Hawk Carlisle to Succeed Craig McKinley as NDIA President, CEO

Herbert “Hawk” Carlisle, a retired Air Force general, has been appointed president and CEO of the National Defense Industrial Association in a move that will take effect in June. Carlisle will succeed Craig McKinley, who announced plans in August 2016 to retire after a two-year term as NDIA’s president and …

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State Dept Clears $150M Hellfire II Missile Sale to UK

The State Department has approved the U.K.’s request to purchase AGM-114-R1/R2 Hellfire II Semi-Active Laser missiles from the U.S. government under a potential $150 million foreign military sales agreement. The U.K. government asked to buy 1,000 Hellfire II missiles, logistics assistance and related program services in order to provide close air support to coalition …

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Navy Awards Northrop Potential $812M LCS Gun Mission Module Production Contract

Northrop Grumman (NYSE: NOC) has been awarded a potential $812 million contract by the U.S. Navy to manufacture gun mission modules for the service branch’s Littoral Combat Ships. The company will also support basic outfitting assembly installation, engineering, sustainment and interim depot-level maintenance of LCS gun mission modules, the Defense Department said …

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CenturyLink, Level 3 Shareholders OK $34B Merger Deal

Shareholders at CenturyLink (NYSE: CTL) and Level 3 Communications (NYSE: LVLT) have separately approved the deal originally announced in October 2016 for CenturyLink to buy Level 3 for approximately $34 billion in a cash-and-stock transaction. Holders of approximately 81.2 percent of all outstanding shares in Level 3 voted in favor of the merger …

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