Tag Archives: featured

March 28 Market Close: GovCon Index Shows Modest Rise on CAE’s 1st GCI-Listed Day, Stocks Mixed in Choppy Trade

The GovCon Index entered the final week of trade for the first quarter with a modest gain of 0.175 points to 72.953 in choppy trade for U.S. markets as stocks struggled to gain clear direction. Monday represented Montreal-based aerospace and defense contractor CAE‘s (NYSE: CAE) first day as a GovCon Index-listed stock …

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NTT Data Inks $3.05B Deal for Dell’s IT Consulting, Services Unit

A subsidiary of Japan-based conglomerate Nippon Telegraph & Telephone (NYSE: NTT) has agreed to purchase the information technology services and consulting business of Dell for $3.05 billion as part of a push to expand further into new geographic markets such as the U.S. The companies did not disclose a timeline for …

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Booz Allen Names Karen Dahut Civil Commercial Group Chief, Susan Penfield Strategic Innovation Head

Booz Allen Hamilton (NYSE: BAH) has appointed Executive Vice President Karen Dahut as head of the McLean, Virginia-based firm’s civil commercial group and fellow EVP Susan Penfield as chief of the Strategic Innovation Group — the consulting contractor’s internal innovation-focused organization. Both Dahut and Penfield will assume their new roles on April 1, Booz …

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General Atomics Closes Purchase of Miltec From Ducommun

General Atomics has completed its $14.6 million acquisition of aerospace and defense technical business Miltec Corp. from Ducommun (NYSE: DCO). Ducommun said Monday the sale of its Miltec businesse is one part of its strategy to reduce company debt. Miltec provides weapons and military defense systems engineering, technical and program management services for …

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Boeing’s Aviall Arm Appoints Eric Strafel as President, CEO

Eric Strafel, a former vice president in the military aircraft business at Boeing (NYSE:BA), will transition into a new role as president and CEO of the airplane maker’s supply chain management services subsidiary Aviall., the companies said Friday. Dallas-based Aviall provides new aviation parts and other aftermarket services to both commercial and defense …

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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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Lockheed Awarded $180M Navy Contract Modification for F-35 Materials

Lockheed Martin (NYSE:LMT) has received a $180 million contract modification from the U.S. Navy to continue procurement of F-35 aircraft parts. The Defense Department said Thursday the modification builds on the advance acquisition contract awarded in December 2015 for long-lead-time materials, components and parts for the low-rate initial production of Lot 11 F-35s. Lockheed will also …

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SAIC CFO John Hartley to Leave in June; Tony Moraco Comments

John Hartley, an executive vice president and chief financial officer of Science Applications International Corp. (NYSE: SAIC), is set to depart the company by the end of June after a 15-year career there. He said in a statement published Thursday he is leaving the McLean, Virginia-based government services contractor to spend more time …

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Lockheed Martin Receives $1.5B Air Force C-130J Contract Modification

Lockheed Martin (NYSE: LMT) has received a $1.5 billion contract modification to fund the procurement of C-130J aircraft for the U.S. Air Force. The Defense Department said Thursday the contract represents full funding for the procurement of long-lead items the Air Force ordered along with 28 fiscal 2016 C-130J. The covered aircraft …

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Air Force Taps Northrop, Raytheon for JSTARS Recap Risk Reduction Contracts

Northrop Grumman (NYSE: NOC) and Raytheon (NYSE: RTN) have secured contracts worth $130.3 million combined to help reduce radar risks for the U.S. Air Force‘s Joint Surveillance Target Attack Radar System Recapitalization program. The service branch awarded $70.3 million to Northrop’s systems business and $60 million to Raytheon’s space and airborne systems unit, the Defense …

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