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



Pentagon Awards $2.5 Billion in New Contracts Friday

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.

The Department of Defense ended the week with a bang (if you'll pardon the expression) Friday. Across a field of 26 contracts awarded, the Pentagon laid out plans to spend nearly $2.5 billion in total. A few of the publicly traded companies winning awards included:

  • Safran (NASDAQOTH: SAFRY  ) subsidiary Messier-Bugatti-Dowty. The French defense contractor won an $80.6 million firm-fixed-priced requirements contract to manufacture replacement parts for the carbon brake system on the Boeing KC-135 Stratotanker aerial refueling aircraft. Messier will perform work, as and when requested by the Air Force, out of its U.S. facility in Walton, Ky., and aims to complete work on the contract by Dec. 31, 2018.
  • Sysco (NYSE: SYY  ) landed a $67.5 million fixed-price with economic-price-adjustment bridge contract to supply food and beverages to Department of Defense and non-Department of Defense customers in Virginia, Honduras, and at Guantanamo Bay, Cuba through June 29, 2014.
  • Exelis (UNKNOWN: XLS.DL  ) received a $20.3 million contract modification to fund the purchase of AN/SPS-48G(V) radar modification kits to be used in a U.S. Navy program dubbed the "Recovery Obsolescence Availability Radar" (ROAR ). ROAR aims to extend the service lift of old radar systems used by the Navy. Exelis is due to deliver the kits by October 2015.
  • Engility (NYSE: EGL  ) received a $12.5 million contract modification of its own, when the Navy exercised an "option" to have Engility provide additional engineering services in support of the Joint Precision Approach and Landing Systems (JPALS) and the Navy Unmanned Combat Aerial Systems (UCAS) programs through January 2014. JPALS is actually a Raytheon program in its origin, and aims to improve landing patterns by military aircraft with use of GPS signals. UCAS, as the name implies, is an experimental program to develop pilotless fighter jets for the U.S. Navy.
  • Last and least (at least in dollar value), Harris Corp (NYSE: HRS  ) won a $9.4 million contract modification to supply the Navy with AN/WSC-6 E(V)9 satellite communication (SATCOM) systems. Work on this contract should wrap up by June 25, 2014. Options attached to this modification, however, could ultimately increase its value to Harris to as much as $40.5 million, and extend its duration through March 2016.

Read/Post Comments (3) | Recommend This Article (1)

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.

  • Report this Comment On June 28, 2013, at 8:36 PM, quasimodo007 wrote:

    Oh yeah the evil cheney's corrupt Contractors who RIP OFF the US Tax payers with billions dollars Over runs.

    The evil GOP congress and their Protected Mafia style Privilege Crooks of Wall street with huge Military contracts . their MOTTO is GREED and MORE GREED and Corruptions and cost Over runs.

    The Evil GOP congress does NOT Care about the

    Poor Americans that are Unemployed , Homeless Americans Infrastructure . . Just allows the Privilege Crooks of wall street to Outsource Americans JOBS to Russia, China, Viet Nam(Nike)

  • Report this Comment On June 29, 2013, at 3:40 AM, fingerlakes54 wrote:

    Check out Sysco's contract. It's to supply food for DOD and non DOD people. Does that mean our congressmen, senators, contractors, and anyone who is invited for chow??? And they complain about food stamps.

  • Report this Comment On June 29, 2013, at 9:34 AM, SteveO59 wrote:

    And they furlough 680,000 workers July 8th.

    We need to replace all the monkeys in the cage.

Add your comment.

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: 2516367, ~/Articles/ArticleHandler.aspx, 9/30/2016 8:14:33 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 18,308.15 164.70 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
EGL $31.50 Down -0.01 -0.03%
Engility Holdings CAPS Rating: ***
HRS $91.61 Up +1.00 +1.10%
Harris CAPS Rating: ****
SYY $49.01 Down -0.02 -0.04%
Sysco CAPS Rating: *****
XLS.DL $0.00 Down +0.00 +0.00%
Exelis CAPS Rating: *****