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The GovCon Index registered four daily losses in five trading sessions for two straight weeks. On Friday, the index, which tracks the stock performances of 30 major government contractors, fell -1.64% to $4,576.02. This represents four consecutive weekly losses since the last two weeks of January. Defense stocks have taken a hit because of policy...
Robert F. Kennedy Jr. has been sworn in as the new secretary of the Department of Health and Human Services. Supreme Court Associate Justice Neil Gorsuch presided over the ceremony at the White House. As the new chief, Kennedy will manage a federal department that operates on around $2 trillion budget and oversee its program,...
Artificial intelligence platform provider Virtualitics has promoted Rob Bocek, a defense technology industry veteran, to chief revenue officer. The Pasadena, California-based company said Thursday Bocek will drive AI innovation across federal and global markets, strengthen partnerships and help scale platforms that support customers’ missions....
Iridium Communications reported fiscal 2024 fourth-quarter revenue of $213 million, up 9 percent from the prior-year period, and saw its total revenue for the full year increase 5 percent to $830.7 million. In an earnings release published Thursday, the McLean, Virginia-based satellite communications company said Q4 and full-year net income were $36...
Chugach Government Solutions has hired Christopher Buffoni as senior vice president and chief financial officer. The company said Thursday that he would oversee its financial activities, support the execution of its strategic growth plans and boost its financial performance. “I have dedicated my career to supporting the brave and noble m...
The U.S. Navy’s Naval Air Warfare Center Training Systems Division is planning to award a contract potentially worth $401 million to Collins Aerospace, an RTX business, for the procurement of E-2D Hawkeye Integrated Training Systems, or E-2D HITS. According to the notice posted on SAM.gov Thursday, the contract is anticipat...
Booz Allen Hamilton has appointed Mujtaba Hamid, a technology industry leader, as executive vice president of product. The technology consulting firm said Thursday Hamid will scale a portfolio of tech offerings and lead the conceptualization, development, production and delivery of emerging products and related platforms to support the missions of U...
John Lau, a 15-year industry veteran, has been selected as vice president of defense and intel solutions at ECS. The information technology systems integrator said Thursday Lau will spearhead the delivery of its data, artificial intelligence, cloud, cybersecurity and digital services portfolio across the Department of Defense and Combatant...
Oshkosh’s defense business has received $214.8 million worth of orders from the U.S. Army for additional Family of Medium Tactical Vehicle A2, or FMTV A2, trucks and trailers. “With fielding already underway this year, these additional orders build on the momentum of the FMTV A2 program and we’re eager for Soldiers to benefit from its...
Lockheed Martin’s Rotary and Mission Systems division has booked a $114.2 million contract modification from the U.S. Navy for the procurement of hardware that supports sound navigation and ranging, or SONAR, systems. Contract Modification Details The Department of Defense said Tuesday that under the cost-plus-incentive-fee contract modificat...
