Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Pentagon Awards Northrop $14.1 Million Anti-IED Contract

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

On Friday, the Department of Defense awarded a $14.1 million contract to defense contractor Northrop Grumman's Space and Mission Systems subsidiary, exercising an option to extend a contract originally awarded to the contractor back in October 2009 .

The contract in question is a firm-fixed-price contract to support the development of a system to jam radio signals that are used to trigger improvised explosive devices (IEDs). This program is generally known by the decidedly unmilitary, preppy acronym "JCREW" -- which stands for "Joint Counter Radio-Controlled Improvised Explosive Device (RCIED) Electronic Warfare (JCREW)." It's designed to develop anti-IED technologies to protect both mounted and dismounted troops, their vehicles, and also permanent structures, and was originally conceived -- and awarded to Northrop as the developer -- in a contract awarded by the Naval Sea Systems Command (NAVSEA), back in January 2008 .

Historically, several firms have been involved in the JCREW effort, with privately-held defense contractor Sierra Nevada and publicly-held ITT (NYSE: ITT  ) -- specifically, an ITT division spun off in 2011 as Exelis (UNKNOWN: XLS.DL  ) -- winning the bulk of the contracts.

At five years and counting, however, Northrop is arguably the longest-serving member of the coalition of companies working to develop a solution to radio-controlled IEDs. Northrop shares closed down 0.5% at the end of Friday trading, at $67.07, ahead of the Pentagon's announcement.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2192530, ~/Articles/ArticleHandler.aspx, 9/30/2016 11:32:45 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 4:02 PM
ITT $35.84 Up +0.28 +0.79%
ITT CAPS Rating: ****
XLS.DL $0.00 Down +0.00 +0.00%
Exelis CAPS Rating: *****