Major defense primesÂ General Dynamics (NYSE: GD), Lockheed Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC) did not experience “notable” impacts from the 35-day partial government shutdown,Â Wells Fargo Securities reported Friday.
The investment bank added thatÂ Booz Allen Hamilton (NYSE: BAH) projected a March quarter impact of nearly $20M in revenue, while CACIÂ (NYSE: CACI) recorded $1M to $1.5M in a weekly revenue impact, with 300 employees affected.
The Wall Street Journal reported Tuesday defense contractorsÂ expect the White House to request a fiscal 2020 military budget that would equal or exceed previous spending onÂ combat aircraft, space hardware and missile defense systems.
President Donald TrumpÂ indicated a potential defense funding proposal in the $700B to $750B range. He signed on Jan. 25 a continuing resolution to reopen and fund the government for three weeks.
The White House could issue its spending blueprint as early as this week.