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Tag Archives: business news

Raytheon Moves Forward with $2.5 Billion Army Project

Raytheon’s (NYSE: RTN) Technical Services Company LLC secured a contract from U.S. Army Forces Command contract to cover work on an expedited process for operational customers in the Army and Department of Defense. The five-year ID/IQ carries a ceiling value of $2.5 billion. The Operations, Planning, Training and Resource Support …

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Lockheed Lands on Lucrative Coast Guard Contract

Lockheed Martin (NYSE: LMT) won a spot from the Coast Guard on a five-year ID/IQ covering training and technical support services. The deal includes a $57 million ceiling value. The firm will cover a number of tasks, including hiring specialized instructors in aviation and handling performance analysis. “We’re proud that …

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SAIC to Sell Portion of Business; CEO Havenstein Promises Aggressive Acquisition Strategy in Future

According to a report in The Washington Post, SAIC (NYSE: SAI) is looking to sell its business focused on IT solutions for oil and gas companies while seeking expansion in growth markets via acquisition. CEO Walt Havenstein noted the strategy in an investor call last week. “To grow our oil …

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Financial Announcement from AT&T

AT&T‘s (NYSE:T) board of director voted to approve a quarterly dividend of $0.43 a share on the company’s common shares. According to the firm, “the dividend is payable on May 2, 2011, to stockholders of record at the close of business on April 8, 2011.”

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Leadership Shakeup at Northrop Grumman Space Systems

Northrop Grumman (NYSE:NOC) selected Jeffrey Grant to serve as VP and general manager of the Space Systems Division within the firm’s Aerospace Systems sector. The firm also appointed Robert Burke VP and deputy general manager of the Space Systems Division. Grant will take over for the retiring Dr. David M. …

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Bell Boeing JPO Secures Navy Contract

According to the Department of Defense, “the Bell Boeing (NYSE: BA) Joint Project Office is being awarded a $30, 291, 489 cost-plus-incentive-fee contract to procure two U.S. Air Force Special Operations Command Tiltrotor (CV-22) flight training devices, and associated provisioned items and spares.  Work will be performed in Broken Arrow, …

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Apptis, SAIC Ink Major DISA Deal Modifications

According to the Department of Defense, Apptis and SAIC (NYSE: SAI) were awarded two contract modifications to add two, six-month option periods and increase the ceiling amount under indefinite-delivery/indefinite-quantity contracts DCA200-02-D-5000 and DCA200-02-D-5001, the Defense Information Systems Network (DISN) Global Solutions (DGS) contracts.  The purpose of the optional extension periods …

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Rolls-Royce Closes Week Out with Navy Win

According to the Department of Defense, “Rolls-Royce is being awarded a $21, 396, 304 modification to a previously awarded indefinite- delivery/indefinite-quantity, firm-fixed-price contract (N00019-09-D-0006) for the repairs of T56-A-427 Series IV engines of the E-2C and C-2 aircraft.  Work will be performed in Oakland, Calif., and is expected to be …

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GE Responds to JSF Engine ‘Stop Work’ Order; Reaffirms Commitment to Project

General Electric released a statement in response to the “Stop Work” order issued by the Department of Defense for the firm’s F136 engine for the Joint Strike Fighter. The GE/Rolls-Royce Fighter Engine Team will be made to cease work on the project once the current funding runs out at the …

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Autodesk Names eBay Veteran Lorrie Norrington to Board

Autodesk (NASDAQ:ADSK)has appointed Lorrie M. Norrington to the firm”s board of directors. “I’m pleased to welcome Lorrie Norrington to our board of directors and look forward to her contributions to the company, ” CEO Carl Bass said.  “Lorrie’s broad business experience as well as her impressive e-commerce pedigree will be …

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