Textron investors were left smiling Dec. 20, when shares of the defense and aerospace conglomerate jumped more than 14 percent following an encouraging bit of acquisition news from the folks over at the Financial Times.
The Department of Defense announced 37 new defense contracts Dec. 20, worth a combined $2.2 billion in total value. One of the biggest winners of the day was Raytheon , winning five of the contracts on offer for a combined $122.3 million.
Dennis Muilinburg whose promotion Dec. 17 put him in line to be Boeing’s next chief executive officer, spent the last four years drafting strategy on the fly as U.S. budget cuts threatened the $33 billion defense and space unit he headed.
BAE Systems had its biggest drop in more than a year after saying talks to sell the Eurofighter Typhoon combat jet to the United Arab Emirates have ended and that negotiations with Saudi Arabia are dragging out.
The U.S. Defense Department and top suppliers on the $392 billion F-35 fighter program are developing a plan to drive down the cost of the Pentagon’s most expensive weapons program, the head of engine maker Pratt & Whitney told Reuters.
Lockheed Martin has won a contract valued at up to $562 million to provide nine months of support, logistics and modifications for the stealthy F-22 fighter jet, the Pentagon announced Dec. 20.
Brazil’s decision to buy Swedish fighter jets instead of F/A-18 Super Hornets from Boeing eliminates its most promising foreign sales prospect just as the U.S. company faces critical decisions about extending the jet’s production line past 2016.
Dilma Rousseff was thoroughly charmed. Brazil had been struggling for years to decide which company to choose for a $4 billion-plus fighter jet contract, one of the world’s most sought after defense deals and one that would help define the country’s strategic alliances for decades to come.
The Army has successfully tested a futuristic laser weapon capable of shooting football-sized mortar rounds and unmanned drones out of the sky. The truck-mounted weapon, known as the High Energy Laser Mobile Demonstrator is still about a decade away from becoming an operational part of the Army’s arsenal, but gives a hint at what a weapon of the future could look like.
A Marine Corps whistleblower says the Pentagon is investigating whether higher-ups retaliated against him for filing complaints against the Marine commandant.
Robert O. Work, a former top Navy official, is the leading candidate to become the next deputy defense secretary. A source close to the confirmation process said congressional staffers have been told to prepare for his Senate nomination, which could run into tough questioning.
The Pentagon may have boxed out new Balance Athletic Shoe Inc.’s efforts to put American-made sneakers on the feet of military recruits.
The Pentagon’s top civilian says it’s time to tame burgeoning military personnel costs, but he’s facing a test of wills with the nation’s powerful veterans groups, which want no cut in their benefits.
Chinese leader Xi Jinping has exhorted the People’s Liberation Army “to get ready to fight and win wars” and “to win regional warfare under information technology-oriented conditions.”
Japan and China are anything but friendly, but tensions escalated further following China’s recent declaration of a maritime air defense zone over the East China Sea. This move also increased tensions between China and the U.S., and Defense Secretary Chuck Hagel said the U.S. military won’t adhere to the guidelines of the Chinese-described air-defense zone.
BAE Systems and Prime Minister David Cameron did their best to sell the Eurofighter Typhoon to the United Arab Emirates. The single-seat fighter, which represents the very best of British military technology, was heavily showcased at recent air shows in Dubai and Doha in Qatar.