Pentagon Spends $1.3 Billion on Contractors

The Department of Defense issued $1.3 billion worth of new contract awards Friday. However, a single, $950 million award for engineering services accounted for the bulk of the spending -- and that one went to a series of privately held companies. Publicly traded names fared less well. Among the few winners:

  • L-3 Communications (NYSE: LLL  ) was awarded a $10.5 million firm-fixed-price foreign military sales contract to supply Egypt with RT-1606 digital radio transceivers.
  • General Dynamics' (NYSE: GD  ) Electric Boat subsidiary won a $9.5 million firm-fixed-priced modification to a previously awarded contract for maintenance and modernization work on the nuclear fast attack submarine USS Hartford (SSN 768) through September. (Trivia: the Hartford was the first U.S. submarine to successfully launch and recover an unmanned underwater vehicle -- the underwater equivalent of an airborne drone -- from a torpedo tube.)
  • Alon USA (NYSE: ALJ  ) won a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract to supply aviation turbine fuel to the Defense Logistics Agency -- Energy. The ceiling value on this award is $11.6 million, and its performance completion date is Sept. 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.

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: 2362109, ~/Articles/ArticleHandler.aspx, 9/26/2016 12:03:06 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 Moments ago Sponsored by:
DOW 18,118.90 -142.55 -0.78%
S&P 500 2,148.88 -15.81 -0.73%
NASD 5,266.44 -39.31 -0.74%

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

9/26/2016 11:46 AM
ALJ $8.21 Down -0.10 -1.20%
Alon USA Energy CAPS Rating: *****
GD $154.29 Up +0.48 +0.31%
General Dynamics CAPS Rating: ****
LLL $151.19 Up +1.11 +0.74%
L-3 Communications… CAPS Rating: ****