Please ensure Javascript is enabled for purposes of website accessibility

Pentagon Awards $282 Million in Defense Contracts Monday

By Rich Smith – Feb 24, 2014 at 9:37PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

General Dynamics, Novartis, and Hitachi all win contracts.

The Department of Defense awarded 14 separate defense contracts Monday, worth a total of $281.8 million. Among the publicly traded companies winning contracts:

  • General Dynamics' (GD -1.29%) Electric Boat division was awarded a $36.1 million contract modification to support a Nuclear Regional Maintenance Department (NRMD) that is responsible for repairing, maintaining, and upgrading nuclear submarines at the Naval Submarine Support Facility, Naval Submarine Base, New London, Conn. through March 2015.
  • Novartis (NVS -0.03%) subsidiary Alcon Laboratories was awarded an option-year exercise (the first of seven possible) worth up to $23.5 million to supply "various pharmaceutical products" to U.S. Army, Navy, Air Force, and Marine Corps customers in Texas through Feb. 26, 2015.
  • Hitachi's (HTHIY -0.70%)  Aloka Medical division was awarded an option-year exercise (the fifth of seven possible) worth up to $14.4 million to supply "radiology systems, subsystems, accessories, service, manual and repair parts" to Army, Navy, Air Force, Marine Corps and federal civilian agencies in Connecticut through Feb. 26, 2015.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. 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.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Novartis Stock Quote
Novartis
NVS
$87.68 (-0.03%) $0.03
General Dynamics Stock Quote
General Dynamics
GD
$250.49 (-1.29%) $-3.28
Hitachi, Ltd. (ADR) Stock Quote
Hitachi, Ltd. (ADR)
HTHIY
$106.31 (-0.70%) $0.74

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
356%
 
S&P 500 Returns
118%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 11/29/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.