Pentagon Awards $334.4 Million in Defense Contracts Tuesday

Northrop Grumman, Lockheed Martin, United Technologies, and Oshkosh number among the winners.

Apr 30, 2014 at 9:42AM

The Department of Defense awarded only nine defense contracts in its Tuesday evening announcement of contract awards. The total value of contracts awarded was $334.4 million. Among the winners:

  • Northrop Grumman (NYSE:NOC) won an $88.2 million indefinite-delivery/indefinite-quantity, firm-fixed-price supply contract with a contract line item to perform cost-plus-fixed-fee engineering and technical services for the U.S. Navy. Specifically, Northrop will work on integrated bridge systems and steering/ship control systems, modernizing multiple pieces of electronic equipment and also performing analysis, repair, improvement, installation, testing, and training of fleet personnel in the use of this equipment through April 2019.
  • Lockheed Martin (NYSE:LMT) was awarded an $80.7 million contract modification to supply the U.S. Army with a total of 17 "Lot 9" Modernized Target Acquisition Pilot Night Vision Sensor systems, and to supply the Indonesian military with an additional nine such systems. Delivery is due July 31, 2018.
  • Oshkosh (NYSE:OSK) was awarded an $8.6 million contract modification to supply the U.S. Army with 39 Family of Medium Tactical Vehicles-type heavy trucks. These funds will also cover applicable federal retail excise tax. Delivery is due Sept. 30, 2015.
  • United Technologies (NYSE:UTX) subsidiary Sikorsky Aerospace Maintenance was awarded a $7.9 million option exercise to perform organizational, intermediate, and depot-level maintenance work on aircraft operated by the U.S. Navy's adversary squadrons. Adversary squadrons consist of U.S. pilots flying either foreign-built planes or older U.S. planes, and flying them in styles similar to those used by foreign air forces. The unusual "air forces" involved in this training require specialized knowledge in how to maintain their planes. Sikorsky's contract will run through December. 

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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