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



General Dynamics "Hydra" Contract Grows Past $1 Billion Mark

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.

General Dynamics (NYSE: GD  )  won a $67.4 million Pentagon contract Thursday, the Pentagon has just confirmed. Curiously, though, the General Dynamics division that won the award may soon not exist -- at least not independently.

Last week, as you may recall, General Dynamics announced plans to merge its Armament and Technical Products business into its Ordnance and Tactical Systems unit. Regardless, the Pentagon announced Thursday that it is exercising an option attached to an existing contract with the soon-to-disappear General Dynamics Armament and Technical Products unit.

Pursuant to this option, General Dynamics will supply an unspecified number of hydra rockets, warheads, and related parts to the U.S. Army, Navy, and Air Force, and also to the government of Saudi Arabia. The Pentagon's contract announcement noted that the cumulative total face value of this contract has now risen past $1 billion, thanks to this award.

Generally fired from rocket launchers aboard combat aircraft and helicopters, the hydra rocket is a low-cost, 70mm munition comprising a MK66 MOD 4 rocket motor, one of nine possible warheads, and one or more fuzes to set them off. The high degree of modifiability of the rocket makes the hydra "a tailor-made solution to the warfighter's situation requirements," says General Dynamics. 

Read/Post Comments (1) | Recommend This Article (2)

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 July 18, 2013, at 11:50 PM, daverhall wrote:

    I wonder who this company paid off to get this contract? Congress and the Obama administration?

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: 2545457, ~/Articles/ArticleHandler.aspx, 9/30/2016 11:25:51 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 4:03 PM
GD $155.16 Down -0.45 -0.29%
General Dynamics CAPS Rating: ****