Author: Mary-Louise Hoffman|| Date Published: June 21, 2022
A new McAleese & Associates report indicates that defense stock prices have spiked 18 percent to 20 percent year-to-date and outperformed the S&P 500 as sector investors react to the Russian invasion of Ukraine.
Jim McAleese, founder of McAleese & Associates and a three-time Wash100 winner, noted investors see a 10 percent spike in Department of Defense investment accounts for the 2022 and 2023 fiscal years.
President Biden’s latest defense budget request of $773 billion includes roughly $276 billion for procurement, research, development, test, and evaluation programs.
McAleese added that investors generally expected at least an additional 7 percent, or $54 billion, of FY 2023 DOD funding growth to at least $800 billion, compared with the $742 billion enacted in the current fiscal year.
DOD accelerated cash flow to contractors during the past two years to address the initial “liquidity crunch” from the COVID-19 pandemic, but a new department policy triggered “program-specific charges” for firm-fixed-price contracts, according to the report.
Textron Aviation Defense has been awarded a five-year, $150 million contract to provide sustaining engineering and program management, or SEPM, services…
Merlin, an aerospace and defense technology company, has appointed former PsiQuantum executive Mark Brunner as chief revenue officer. What Will Mark Brunner Oversee?…
Fortreum has acquired Kovr.AI, an AI-native cybersecurity compliance platform, to combine automated compliance capabilities with independent assessment services for federal…
