The Department of Defense awarded only six defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $99.6 million.
Only two publicly traded defense companies won contracts. Northrop Grumman (NYSE:NOC) won the day's biggest award, a $52.4 million contract to supply the U.S. Navy with materials and services needed to perform an Equivalent Flight Hours fatigue test to evaluate the accuracy of the estimated service life of the company's E-2D Advanced Hawkeye airborne early-warning aircraft.
Last week, in one of the largest contracts awarded by the Pentagon so far this year, the U.S. Navy modified a production contract with Northrop, instructing the firm to build and deliver to it 25 new full-rate production E-2D Advanced Hawkeyes by August 2021. The instant testing equipment and services contract, in contrast, will run through July 2019.
Lockheed Martin (NYSE:LMT) won a smaller award Monday, a $6.8 million contract modification to perform maintenance on Lot VII F-35 stealth fighter jets for the U.S. Marine Corps, and also for the government of the Netherlands. This work should be completed by March 2015.
Leaked: Apple's next smart device (warning -- it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee that its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are even claiming that its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts that 485 million of these devices will be sold per year. But one small company makes this gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and to see Apple's newest smart gizmo, just click here!
Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple, Lockheed Martin, and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.