October 7 Morning Report: GovConIndex Down on Mixed Day of Trading

GovConIndex
The U.S. stock market closed Monday trading lower. The GovConIndex fell 0.289, or 0.450%, to 64.535. Many investors remain uncertain about the outlook for stocks as they wait for the beginning of the earnings season.   Top Percentage Gainers Company Closing Price Change %Change CGI Group Inc 34.52 0.55 1.62% Exelis Inc. 17.10 0.20 1.18% Intelsat 16.60 0.16 0.97% BAE Systems 29.72 0.28 0.95% ATK 127.17 0.76 0.60%   Market...

October 6 Morning: Friday Surge in GovConIndex

GovConIndex
The GovConIndex rose 0.797, or 1.23 percent, to 64.085 by riding on an increase in the Dow Jones Industrial Average. Friday’s rise came after four consecutive days of declines and new figures that show an increase in hiring by U.S. employers.       Top Percentage Gainers Company Stock Price Change %Change Healthnet 46.47 1.70 3.80% Engilty Holding Inc. 32.77 1.00 3.15% Exelis...

Exelis Launches Gov’t Services Spinoff Company Vectrus

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Exelis (NYSE: XLS) has completed the spinoff of its mission systems business unit into a standalone company called Vectrus. Vectrus will trade under the “VEC” ticker symbol beginning on Monday and aims to deliver information technology, infrastructure and supply chain management, network communication and logistics services in the government market, Exelis said Saturday. The tax-free spinoff...

NASA Issues $221M Infrared Instrument Contract Extension to Exelis

Exelis‘ (NYSE: XLS) geospatial systems division has received a $221 million contract modification from NASA to continue support for the agency’s Joint Polar Satellite System-2 mission for an additional three years. The contract covers work to manufacture, test, deliver, integrate and perform launch and post-launch support of the Cross-track Infrared Sounder instrument for the JPSS-2...

Exelis Sets Mission Systems Business Spinoff Completion Date, ‘Vectrus’ to Start NYSE Trading Sept. 29

Exelis‘ (NYSE: XLS) board of directors has approved the spinoff of the company’s mission systems business division into a separate, publicly traded company that will operate as Vectrus. The companies have set Sept. 27 as the date to complete the transaction and Vectrus will begin regular way trading on the New York Stock Exchange Sept. 29 under the symbol “VEC,” Exelis...

Exelis Wins $517M for Army Corps of Engineers IT Support Work

The U.S. Army Corps of Engineers has awarded Exelis (NYSE: XLS) a potential five-year, $517 million contract to perform information technology support work at various USACE facilities worldwide. Exelis said Wednesday it will deliver enterprise IT management services to the military organization’s more than 37,000 clients around the globe. The fixed-price incentive contract contains a one-year...

Exelis Buys Air Traffic Control Software Maker Barco Orthogon

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Exelis (NYSE: XLS) has moved to expand its aviation systems portfolio by acquiring Barco NV‘s air traffic management software business Orthogon. Orthogon develops software applications for airport operators to manage queues, predict runway allocation and collaborate with air navigation service providers, Exelis said Friday. The ATM business will operate under Exelis’ information systems...

Air Force Opens New Competition for GPS III Satellites

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The U.S. Air Force has opened the door to more industry competition for the branch’s Global Positioning System III satellite program. A June 4 FedBizOpps post by the Air Force encourages contractors to submit ideas on production methods for 22 succeeding GPS III space vehicles and associated navigation payloads. Lockheed Martin (NYSE: LMT) is contracted to build eight satellites under the program...

NATO Country Buys Exelis Radios to Secure Data Backbone

Exelis (NYSE: XLS) will supply a NATO client with high-capacity radios that are intended to serve as the customer’s communications data backbone under a $12 million contract. The data radio system is designed to protect data connections between command headquarters and ground forces, Exelis said Monday. Exelis will perform the work through 2016 at its Basingstoke, Hampshire-based facility. The NATO...

Rich Sorelle: Exelis Seeks C4ISR, Analytics Portfolio Growth With Celestech Buy

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Exelis (NYSE: XLS) has acquired technology development and engineering services firm Celestech in a move to grow Exelis’ portfolio of C4ISR and data analytics offerings. Financial terms of the deal were not disclosed and Exelis does not expect the transaction to have a material impact on its second quarter 2014 results, Exelis said Thursday. Celestech builds signal processing systems for satellite...