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



Federal Funding of Nuclear-Powered Carrier Passes $533 Million

Work on the nation's next nuclear-powered aircraft carrier, the USS John F. Kennedy (CVN 79), continues apace.

Following up on a $65 million contract award to fund purchases of "long lead material" in early March, and a further $407.4 million awarded a couple of weeks later, the Department of Defense modified its contract with Huntington Ingalls (NYSE: HII  ) yet again on Monday.

According to the Pentagon's announcement, this latest $60.8 million installment is expected to give Huntington sufficient funds needed to "provide all services and material in preparation for construction of CVN 79, including necessary research studies; engineering; design; related development efforts; advance planning; advance procurement for detail design and procurement of long lead material; advance construction; life cycle support; logistics data and other data."

In total, therefore, Huntington has now been awarded more than $533 million over the past two months, to ensure it has the monies necessary to proceed with building the Kennedy -- at least through October 2015, when the current contract expires.


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: 2413871, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:26:28 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...

Today's Market

updated 4 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

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

9/27/2016 4:02 PM
HII $153.85 Down -0.67 -0.43%
Huntington Ingalls… CAPS Rating: ****