WASHINGTON (Reuters) – Shares of Lockheed Martin Corp, the Pentagon’s biggest supplier, and some other defense companies rallied on Monday after Defense Secretary Chuck Hagel recalled most civilian defense employees despite the ongoing shutdown of the U.S. government.
Lockheed shares closed $1.06 higher at $123.56 on the New York Stock Exchange, while shares of Northrop Grumman Corp closed $1.66 or 1.78 percent higher at $94.98. Raytheon Co shares closed 1.3 perent higher at $75.22.
WASHINGTON (Reuters) – Lockheed Martin Corp has resolved many quality problems on the $392 billion F-35 fighter jet program since a troubling audit by the Pentagon inspector general’s office last year, top U.S. government and industry officials said on Monday.
The officials were commenting on a report on the year-long assessment by the inspector general, which was completed in December 2012 but not released until Monday.
WASHINGTON (Reuters) – The Pentagon on Friday said it had finalized two contracts with Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) valued at $7.8 billion for 71 more F-35 fighter jets, citing what it called significant reductions in the cost of the new radar-evading warplane.
The U.S. Defense Department said it signed a $4.4 billion contract for a sixth batch of 36 F-35 aircraft, with the average cost of the planes down 2.5 percent from the previous deal. All but $743 million of that amount had already been awarded to the company under a preliminary contract.
WASHINGTON (Reuters) – The Pentagon is expected to reach decisions in coming months on how to meet its weather forecasting needs after the 2012 termination of a nearly $15 billion program being built by Northrop Grumman Corp, a senior official told Reuters on Thursday.
Douglas Loverro, deputy assistant defense secretary for space policy, said Pentagon officials were weighing the possibility of replacing the large satellite system that Northrop was slated to build with a series of smaller, less expensive satellites in the $200 million to $300 million range.
WASHINGTON (Reuters) – South Korea’s decision to reopen bidding for a fighter-jet contract rather than accept Boeing Co’s (BA.N: Quote, Profile, Research, Stock Buzz) F-15 Silent Eagle signals a wider problem for the aerospace giant: revenue from its most profitable but aging military aircraft is winding down.
At the same time, U.S. government budget cuts have dimmed the prospects of Boeing developing replacements for the higher-margin legacy aircraft, such as the F-15, acquired when it merged with McDonnell Douglas in 1997.
WASHINGTON, Sept 24 (Reuters) – Lockheed Martin Corp
, nearing completion of its 100th F-35 fighter jet,
anticipates dozens of international orders or commitments for
the new radar-evading warplane in coming months, according to
U.S. government officials and industry executives.
The F-35 program got a boost on Tuesday when the South
Korean government rejected a bid by Boeing Co to build 60
F-15 warplanes, saying it needed a more advanced
NATIONAL HARBOR, Maryland (Reuters) – The U.S.-led effort to train the Afghan air force faces big challenges ranging from security threats to possible repercussions from procurement scandals that have triggered a review of infrastructure and equipment projects, the U.S. general in charge said.
“This is a hard deal. We’re far from 100-percent guaranteed on delivery,” said Air Force Brigadier General John Michel, who leads NATO Air Training Command Afghanistan, which is due to complete its training of the Afghan air force by December 31, 2017 – three years after most U.S. forces leave Afghanistan.
WASHINGTON (Reuters) – U.S. Deputy Defense Secretary Ashton Carter this week proposed ways to deepen defense ties between the United States and India, including co-development of the next version of the Javelin anti-tank missile now built by Raytheon Co and Lockheed Martin Corp.
Carter, speaking at a news conference in India, said the two countries were already expanding military relations through exercises and increased trade in weapons. But he said it was time to unleash what he called the “enormous untapped potential between our private sectors in the defense field.”
WASHINGTON (Reuters) – The three-star general who heads the secretive U.S. Air Force Special Operations Command is pressing arms makers to speed up the development of new weapons and move toward greater standardization of aircraft and sensors.
“We’re pretty relentless,” Air Force Lieutenant General Eric Fiel told Reuters at the annual Air Force Association conference this week.
WASHINGTON, Sept 19 (Reuters) – The U.S. military conducted
the second test of the ship-based Aegis missile defense system
in a week, firing two SM-3 missiles on Wednesday to intercept a
separating target in space, the U.S. Defense Department said.
The Standard Missile-3, built by Raytheon Co, was
the highest-ever intercept in space, meaning that a larger area
can be defended, the company said on Thursday.