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Financial Report

Report: Federal Contract Spending Rose by 6% Annually From FY 2014-2018

Federal contract spending has increased by 5.8 percent per year in the past five fiscal years driven by agencies’ rising use of simplified acquisition procedures and governmentwide procurement contracts, Bloomberg Government reported Wednesday. Contract spending in FY 2018 reached $560B, according to the report. Federal agencies obligated $15B on government …

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Maxar Makes Progress in US Domestication Plan With Canadian Court Approval

Maxar Technologies (NYSE: MAXR) has made headway in its U.S. domestication effort after it received approval from the Supreme Court of British Columbia in Canada for certain changes the company made to its arrangement plan. The company said Friday the arrangement plan allows it to directly purchase common shares from shareholders …

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SAIC Reports 3% Rise in Q3 FY 2019 Revenue; Tony Moraco Quoted

Tony Moraco, CEO of Science Applications International Corp. (NYSE: SAIC), has said the company’s fiscal 2019 third-quarter results reflect its continued focus to deliver robust performance across its contract portfolio. SAIC said Thursday it closed the quarter with $1.2B in revenue, a 2.8 percent or $32M increase from the same …

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UTC-Rockwell Collins Merger: New Financial Details Emerge

On Nov. 26th, United Technologies announced its move to split the company into three separate businesses following the completion of the $30B Rockwell Collins acquisition on Nov. 23rd. The move will combine UTC’s Pratt & Whitney and United Technologies Aerospace Systems with Rockwell Collins to form Collins Aerospace Systems. The …

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Maxar Shareholders OK US Incorporation; Howard Lance Quoted

Shareholders at Maxar Technologies (NYSE: MAXR) cleared the company’s plan for U.S. domestication at a special meeting held Friday in Westminster, Colo. The company said Friday holders of approximately 76 percent of outstanding and issued shares in Maxar voted in the meeting with 99.8 percent approving the firm’s U.S. incorporation. …

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Northern Virginia, NYC to House Amazon’s Two New HQs

Amazon (Nasdaq: AMZN) has officially chosen New York’s Long Island City and Northern Virginia’s Arlington to accommodate its new headquarters with plans to invest $5B and generate at least 50K jobs across the two sites. “These two locations will allow us to attract world-class talent that will help us to …

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McAleese & Associates Assesses Defense Spending Trends

A report by consulting firm McAleese & Associates says investors should expect the defense budget for fiscal years 2020 and 2021 at a range of $700B to $716B per year. Jim McAleese, founder and principal at McAleese & Associates, wrote in the report that the Pentagon’s overall budget in FY 2019 demonstrates …

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Report: General Dynamics Posts 13% Increase in Q3 Mission Systems Segment Revenue

McAleese & Associates has provided an overview of General Dynamics’ (NYSE: GD) financial results in the third quarter of 2018. The Falls Church, Va.-based defense contractor’s mission systems sector reported a 13 percent increase in Q3 sales with an operating margin of 14.6 percent, reflecting an 18 percent growth in …

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McAleese & Associates: HII Optimistic on FY 2018-2019 Shipbuilding Funds in Bipartisan Budget Act

Consulting firm McAleese & Associates has issued a report saying Huntington Ingalls Industries (NYSE: HII) is “ecstatic” about the Bipartisan Budget Act’s shipbuilding funds for fiscal years 2018 and 2019. “[W]e are in a great spot because ships have been authorized and appropriated in the 2018-2019 window, which takes a lot …

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McAleese & Associates: HII Reports 10% Growth in Year-to-Date Sales

A report by consulting firm McAleese & Associates says Huntington Ingalls Industries (NYSE: HII) saw its revenue rise 12 percent to $2.1B in the third quarter of 2018 with a year-to-date sales increase of 10 percent. HII posted $290M in Q3 total corporate profit, reflecting a 20 percent increase from the same period last year …

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