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April 11 Morning Report: GovCon Index Posts Nominal Gain Friday on Energy Shares

The GovCon Index closed Friday with a nominal gain of 0.197 points to 74.227, which gives the GCI a nominal 0.103-point decline from the previous week. While biotechnology stocks posted losses, energy shares saw a 6.6-percent climb in U.S. crude oil futures to $39.72 a barrel. Four of the five largest U.S. government contractors will …

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April 8 Market Close: GovCon Index Hits Late PM Volatility, Ends at Nominal Weekly Decline

The GovCon Index gradually tumbled from a strong open Friday and fell sharply in late afternoon trade to end at a nominal gain of 0.197 points to 74.227, which puts the GCI at a weekly loss for the second time in three weeks. The GCI posted a nominal 0.103-point loss from …

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April 4 Morning Report: GovCon Index Posts Gain on March Jobs Data, Manufacturing Sector Recovery

The GovCon Index closed Friday with a gain of 0.348 points to 74.380 on positive movement in U.S. markets and posted a weekly gain of 1.273 percent. The U.S. markets’ performance is based on jobs data that indicates nonfarm businesses added 215, 000 workers in March to surpass analyst expectations, according to Reuters. Investors also …

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April 1 Market Close: GovCon Index, US Stocks Up on March Jobs Report to Hold Off Early Oil Pressure

The GovCon Index posted a gain of 0.348 points to 74.380 in a reflection of overall positive movement in U.S. markets Friday on March jobs figures that exceeded some economists’ expectations and new manufacturing data that showed some recovery in that sector. Both the Index and S&P 500 composite index held …

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DMEA Picks 8 Firms for $7B Follow-On Advanced Tech Engineering Services IDIQ

The Defense Microelectronics Activity has awarded positions on a potential $7.2 billion contract vehicle to eight companies to support the agency’s work on new technology insertions and applications for military systems. Contractors will bid for individual task orders over a 10-year ordering period to engineer components for the Defense Department to address operational issues with electronics’ hardware and software …

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Craig Reed Joins IT Services Contractor NT Concepts as President, COO

Craig Reed, a three-decade GovCon veteran and former senior vice president from Engility (NYSE: EGL), has joined Vienna, Virginia-based information technology government services contractor NT Concepts as president and chief operating officer. NT Concepts said Thursday Reed will oversee operations, growth strategies and business development efforts at the company as it aims to elevate its …

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March 30 Market Close: GovCon Index Rally Extends to 3rd Day, US Markets Eye Slower Rate Hike Pace

The GovCon Index extended its stretch of positive movement into a third full trading session Wednesday with a gain of 0.204 points to 74.334 as U.S. investors continued to gauge Tuesday’s comments from Federal Reserve Chair Janet Yellen on a potentially slower interest rate hike path for the central bank. Falls Church, Virginia-based CSRA …

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State Dept Clears $3B Poseidon Aircraft, Equipment Sale to U.K.

The State Department has cleared a potential $3.2 billion foreign military sales agreement for the U.K. to procure Boeing-built (NYSE: BA) P-8A maritime surveillance planes and related equipment and support services from the U.S. The U.K. ordered nine Poseidons in an effort to supplement patrol and reconnaissance missions of the British military and …

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KKR to Purchase Airbus’ Defense Electronics Business for $1.24B

New York City-based private equity firm Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) has agreed to acquire the defense electronics business of global aerospace and defense contractor Airbus Group for approximately $1.24 billion. Airbus said Friday the transaction is scheduled to close in the first quarter of 2017 and that it may control a …

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Joseph Battaglia to Retire as Telephonics President, Kevin McSweeney Named Successor

Joseph Battaglia, president of military communications and sensor systems maker Telephonics, plans to retire on Sept. 30 after 21 years of leadership at the surveillance and communication systems provider. Telephonics’ parent company Griffon (NYSE: GFF) said Tuesday that Kevin McSweeney, executive vice president and chief operating officer of the subsidiary, will succeed Battaglia after he steps …

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