Recs

0

Army Lifts Ceiling on Harris Contract to $500 Million

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Melbourne, Fla.-based defense contractor Harris Corporation (NYSE: HRS  ) got another boost from the Pentagon Monday, announcing that it has received an increase in the ceiling value of the 2011 Indefinite Delivery, Indefinite Quantity (IDIQ) supply contract it  won to supply U.S.-allied governments with radios, accessories, systems, and related service. The new contract ceiling value is $500 million.

This contract authorizes sales of military and land mobile radio systems to unspecified "international partners of the U.S. State Department and U.S. Department of Defense," and is part of the U.S. government's Foreign Military Sales program, through which the U.S. government acts as intermediary in supplying allied governments with U.S. defense hardware.

Good news nothwithstanding, Harris shares declined 0.1% in Monday trading, closing at $44.30.


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.

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: 2319154, ~/Articles/ArticleHandler.aspx, 9/2/2015 4:49:50 AM

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...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated 7 hours ago Sponsored by:
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASD 4,636.11 -140.40 -2.94%

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

9/1/2015 4:03 PM
HRS $74.64 Down -2.18 -2.84%
Harris Corp CAPS Rating: *****