Executive Mosaic’s GovCon Index ticked 0.23% higher to $5,491.84 Friday, its only gain in five trading sessions. The index, which tracks the stock performances of 30 major government contractors, lost 2.24% week-on-week for its first losing week since the week ending Sept. 13. As of Oct. 25, 2024, the GovCon Index is up 17.64% year-to-date....
The State Department has approved a potential $7.3 billion foreign military sales request of Poland for equipment and services to help modify and upgrade the European country’s existing F-16 aircraft to the new Viper configuration. The Defense Security Cooperation Agency said Wednesday Lockheed Martin will be the principal contractor in the pr...
Jessica Hersey has joined Red River as senior vice president of business development for government technology services. She confirmed her new role in a post on LinkedIn Saturday. Hersey brings to Red River over 25 years of experience in the government contracting industry. She most recently served as vice president of business development for the...
Executive Mosaic’s GovCon Index rose 0.33% Friday to $5,617.83, its highest close on record. The index, which tracks the stock performances of 30 major government contractors, registered a 2.04% week-on-week gain. It also matched the six-week winning streaks of the Dow Jones Industrial Average and S&P 500 Index. The blue-chip Dow Jones (+1...
The Javelin Joint Venture, a collaborative venture between RTX business Raytheon and Lockheed Martin, has secured two contracts worth a total of $267 million from the U.S. Army to produce Lightweight Command Launch Units. RTX said Tuesday that the first contract covers full-rate production of the LWCLU while the second contract c...
A Department of Defense report has found that defense spending in fiscal year 2023 in all 50 states and Washington, D.C., including DOD contract obligations, payroll spending and grant awards, totaled $609.2 billion, reflecting a $50.5 billion increase from the previous fiscal year and accounting for 2.2 percent of the U.S. gross domestic product. D...
The Kingdom of Saudi Arabia has received clearance from the U.S. State Department to purchase missiles, ammunition and other weapon systems via three foreign military sale transactions worth potentially $1.05 billion. The Defense Security Cooperation Agency said Friday KAS requested to buy 2,503 AGM-114R3 Hellfire II missiles and related equipment f...
Executive Mosaic’s GovCon Index closed higher at $5,505.35 (+1.44%) after recovering from a steep 1.05% decline on Thursday. The index, which tracks the stock performance of 30 major government contractors, posted a 0.65% week-on-week gain, maintaining its winning run. Wall Street’s major stock indexes also finished strong before ...
The State Department has cleared a potential $1.2 billion foreign military sales request from the United Arab Emirates for Guided Multiple Launch Rocket Systems, Army Tactical Missile Systems, related equipment and support services. The Defense Security Cooperation Agency said Friday Lockheed Martin (NYSE: LMT) will serve as the prime contractor in ...
Executive Mosaic’s GovCon Index recorded a substantial weekly gain after ending higher on Friday at $5,469.34. Besides the 2.34% week-on-week gain, the index, which tracks the stock performances of 30 major government contractors, extended its winning streak anew. The escalating tensions in the Middle East triggered a rally of defense stocks o...
