October 15 Morning Report: GovCon Index Inches Up as Global Concerns Hold

GovConIndex
The GovCon Index entered Wednesday trading at 62.785 — approximately 0.82 percent higher than Tuesday’s figure, or an increase of 0.52. Reuters cited concerns over Ebola, the impact of weak global economic figures on U.S. corporate earnings and a decline in oil prices as drivers of Tuesday’s investment activity.   Top Percentage Gainers Company Stock Price % Change Textron 33.83 4.80% Navistar 31.25 4.48% Raytheon 96.56 2.89% Engility...

Fred Funk Takes SVP Role at Preferred Systems Solutions; Scott Goss Comments

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Fred Funk, formerly a co-founding executive at The KEYW Holding Corp. (NASDAQ: KEYW), has joined Preferred Systems Solutions as senior vice president of the national security group. He will be responsible for the company’s intelligence operations, business development and merger and acquisition strategies within the intelligence community, PSS said Sept. 23. “We are extremely fortunate...

Raytheon to Produce 3D Long-Range Radars for Air Force

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U.S. Air Force image Raytheon (NYSE: RTN) has won a potential $71.8 million contract to engineer, manufacture and develop the U.S. Air Force‘s three-dimensional expeditionary long-range radar systems. The 3DELRR EMD contract has a $19,502,764 base value and calls for the company to deliver up to six radar platforms, as well as product support to the military branch, the Defense Department said...

Erik Buice: Northrop Grumman Continues Support for CMS’ Medicare Beneficiary DB Systems

Erik Buice
Erik Buice Northrop Grumman (NYSE: NOC) will continue its support for the Centers for Medicare and Medicaid Services‘ Medicare Beneficiary Database Suite of Systems through November 2018 under a new $53.7 million contract. The company said Monday this contract extends its 16-year support for MBDSS and expands work to upgrade and integrate the system with the Medicare Enrollment and Premium...

Tom McLemore Joins Northrop as VP of C4I, Space Legislative Affairs; Lesley Kalan Comments

Tom-McLemore
Tom McLemore, formerly staff director of the House Appropriations Defense and Homeland Security subcommittees, has joined Northrop Grumman (NYSE: NOC) as cybersecurity, C4I and space legislative affairs vice president. He will report to Lesley Kalan, legislative affairs VP, and be responsible for strategy and outreach plans development and implementation for the contractor’s cyber, command,...

Air Force Awards $306M Global Hawk Logistics Contract to Northrop

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Northrop Grumman (NYSE: NOC) will provide logistics and sustainment support services for the U.S. Air Force‘s Global Hawk weapon system through the end of September 2015 under a $306.1 million contract. The Defense Department said Wednesday the deal includes material and services to support planning, operations and maintenance work on the Global Hawk. Northrop will receive an obligated amount...

Northrop Awarded Navy Logistics, Weapons Supply Mgmt Contract; Todd Leavitt Comments

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Northrop Grumman (NYSE: NOC) has been awarded a five-year, $61 million contract to manage the U.S. Navy’s logistics and weapons systems. The company will provide performance based logistics supply support to the Naval Supply Systems Command’s weapon systems facility in Mechanicsburg, Pennsylvania, Northrop said Thursday. “By supporting unforeseen needs and faster turnaround deployment...

Tarik Reyes Appointed Business Development VP for Northrop’s Integrated AMD Org

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Tarik Reyes Tarik Reyes, a group director at Northrop Grumman‘s (NYSE: NOC) information systems sector, has been promoted to vice president of business development for the organization’s integrated air and missile defense division. The appointment takes effect immediately and he will oversee pipeline development, customer engagement and growth strategies for IAMD product offerings in his...

Northrop to Produce 3 More USAF Global Hawks for $345M; Mick Jaggers Comments

Global Hawk
Northrop Grumman (NYSE: NOC) has been awarded a $354 million contract to manufacture three additional Global Hawk unmanned aerial vehicles for the U.S. Air Force. The order will increase the number of RQ-4 Global Hawks operated by the branch to 37 by 2017, Northrop said Monday. “Even as Global Hawk flight hours increase each year, we are striving to reduce the overall operating cost of the system...

Report: Air Force Could Award Long-Range Radar Contract Next Week

FireControlRadar
The U.S. Air Force is close to naming the winner of a contract to produce long-range, ground-based sensors for tracking hostile aircraft and missiles, Defense News reported Wednesday. Aaron Mehta writes that Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC) and Raytheon (NYSE: RTN) are competing for the Air Force’s Three Dimensional Expeditionary Long-Range Radar development program. The...