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Tag Archives: Exelis

Harris to Sell Maritime Comm Business for $425M, First Divestiture Since Jana Pact

HARRIS

Harris Corp. (NYSE: HRS) has agreed to sell its maritime energy communications business to global satellite services company SpeedCast International for $425 million in the military radio maker’s first divestiture since its August agreement with activist hedge fund Jana Partners. This move is part of Harris’ larger effort to examine non-core businesses and …

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Weekly Roundup October 3 – October 7, 2016: L-3 Makes Buys, M&A Chatter Around Harris & more

market analysis

October 3 – October 7, 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson The stalwart GovCon technology maker L-3 Communications extended its profile as an active player in the merger-and-acquisition scene this week and closed its first buys since a large business divestiture …

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September 30 Market Close: GovCon Index Held By Vectrus Plunge Against S&P Gain, Post 2nd Straight Down Month

GovConIndexDOWN

Executive Mosaic’s GovCon Index failed to reverse its steep morning decline Friday despite a significant gain by the S&P 500 as a record intraday plunge by Vectrus (NYSE: VEC) on a large contract loss weighed on the GCI against a 2-to-1 ratio in favor of green stocks. Six of the GovCon Index’s 11 S&P 500 …

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Weekly Roundup August 15 – August 19 2016: Leidos Doubles, M&A Wheels Keep Turning & more

market analysis

August 15 – August 19 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson The long-awaited, much-anticipated and well-documented merger of Leidos into the now former Lockheed Martin information technology and technical services business completed on Tuesday. As if GovCon observers needed reminding, Leidos doubles to $10 …

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Exelis Vet Ann Davidson Joins L-3 as SVP & General Counsel

Ann Davidson

Ann Davidson, former senior vice president, chief legal officer and corporate secretary at Exelis, has joined L-3 Communications (NYSE: LLL) as SVP, general counsel and corporate secretary. Davidson will report to L-3 CEO Michael Strianese and succeed the retiring Steven Post, the New York City-based defense technology contractor said Monday. “Ann brings to …

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Vectrus Lifts 2016 Earnings, Revenue Guidance

Vectrus

Vectrus (NYSE: VEC) has lifted full-year earnings and revenue guidance on improved outlooks in cash flow for the 2016 second half and expectations of extra payments on debt. The Colorado Springs-based government communications services contractor now expects earnings per share in the $2.07-$2.32 range versus the previous $2.02-$2.31 range with revenue of $1.18 billion-$1.2 billion compared to …

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Harris FY 2017 Guidance Below Street Estimate, 4Q Swings to Profit as Radio Maker Inks Board Appointment Pact With Jana Partners

HARRIS

Harris Corp.’s (NYSE: HRS) guidance for its 2017 fiscal year started July 4 came in below Wall Street’s consensus forecast before markets opened Tuesday as the communications technology contractor anticipates pressure in its tactical and maritime energy businesses to continue. Melbourne, Florida-based military radio maker Harris cited global oil price declines …

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Weekly Roundup July 11 – July 15 2016: Boeing Throws Hat Into Defense Services M&A Mix & more

Logistics

July 11 – July 15 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson    One of the world’s two largest airplane manufacturers is mulling acquisitions in the defense services arena that would continue a trend among prime contractors toward capability-based deals. Leanne Caret, …

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Naval Research Lab Taps 8 Firms for $245M IT Engineering, Technical Support IDIQ

information technology

The U.S. Navy has awarded eight companies spots on a potential five-year, $245 million contract to provide engineering and technical services to the Naval Research Laboratory’s information technology division. The Defense Department said Monday contractors can bid on task orders under the multiple-award, indefinite-delivery/indefinite-quantity contract, which is scheduled to run through May 22, 2021. NRL …

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Weekly Roundup May 9 – May 13 2016: Frank Kendall Halts M&A Authority Push & more

Pentagon

May 9 – May 13 2016 Click here to see Real-Time GovCon Sector Quotes A Note From Our President & Founder Jim Garrettson The Pentagon’s top product and services buyer made it official this week that the would no longer advocate for greater authority to regulate GovCon merger-and-acquisition activities that involve the large primes. Frank …

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