Archive: Business/Financial

Boeing Boosts Dividend, Share Repurchase Authorization

Boeing [BA] on Monday said is raising its dividend payment by 20 percent and increased its share repurchase program by $2 billion. The new quarterly dividend payment will be $2.055 per share, payable on March 1, 2019. The new share repurchase authorization is $20 billion and it replaces an $18 billion program authorized last December. […]

DoD’s Lord Wants a Rewrite of Section 5000 Acquisition Rules in 2019

The Pentagon’s top acquisition leader has an ambitious goal for 2019: to rewrite the department’s list of major procurement system rules known as Section 5000.02. The goal is to allow program managers and contracting officers to have more “creative compliance” when it comes to developing their contracts to build a speedier, more flexible process, Ellen […]

Boeing, Embraer Agree On Joint Ventures For KC-390, Commercial Aviation

Boeing [BA] and Brazil’s Embraer [ERJ] have finalized agreements on joint ventures for the KC-390 multi-mission medium airlift aircraft and commercial aviation, with the deals expected to close by the end of 2019. Embraer will have a controlling interest, 51 percent, in the joint venture for the KC-390 that will be focused on development, manufacture […]

AIA Issues Baseline Cyber Security Standards For Aerospace And Defense Industry

The Aerospace Industries Association (AIA) on Thursday released a risk-based cyber security standard aimed giving companies in the aerospace and defense industry set of baseline security controls that can evolve with changing threats and provide a shared comfort level within the industry and government that accepted cyber security practices are being achieved. The National Aerospace […]

Cerberus Capital To Acquire Sparton Corp.

The private equity firm Cerberus Capital Management on Wednesday said it has agreed to acquire Sparton Corp. [SPA], a provider of components for the medical and biotechnology, military and aerospace, and industrial markets, for $18.50 per share in cash. The purchase price represents a 41 percent premium to Illinois-based Sparton’s closing share price on Dec. […]

TSA Awards TechFlow Nearly $1 Billion To Support Explosive Detection Systems

The Transportation Security Administration (TSA) on Thursday said it has awarded a $968 million contract to TechFlow Inc., to provide performance based logistics to the agency’s installed base of explosive detection systems (EDS) that are used to automatically scan checked bags for explosives at U.S. airports. TSA previously relied on L3 Technologies [LLL], Smiths Detection […]

Fluor Scoops Nuke Storage Contract at Missile Base

Fluor Federal Services will build a nuclear weapons storage and maintenance facility at the an Frances E. Warren Air Force Base near Cheyenne, Wyoming, under a three-and-a-quarter year Army Corps of Engineers contract worth $145 million, the company said Tuesday. The 90,000 square-foot facility will include a fueling station, a generator building and a fire […]

SAIC Posts Higher Earnings, Sales In Third Quarter

Science Applications International Corp. [SAIC] on Dec. 6 after the close of the markets reported higher sales due to work for state and local governments while earnings increased due to a lower tax rate. Net income increased 12 percent to $48 million, $1.11 earnings per share (EPS) in the company’s fiscal year 2019 third quarter […]

Huntington Ingalls Acquires Cyber Security Firm G2 To Expand Services Business

Huntington Ingalls Industries [HII] on Monday said it has acquired the cyber security firm G2 Inc., which will be part of the company’s Technical Solutions division that was stood up in late 2016 following the acquisition of government services provider Camber Corp. Terms of the deal were not disclosed. G2 has about 130 employees, most of […]