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Defense giants Boeing and Northrop Grumman keep going at it over the Air Force tanker deal. This as the clock ticks down on a Government Accounting Office investigation into whether the current decision should stand.
Lockheed Martin said Tuesday quarterly profit rose 6 percent, helped by higher sales of its electronic, information and space systems.
Sure, the Pentagon will always be famous for wasting $640 on a toilet seat, but that doesn't mean it isn't looking to make a buck! Next week the Defense Department will sell off 27 million pounds of old warplanes--some going back before Vietnam--to profit from current scrap metal prices.
Australia may delay some of the Lockheed F-35 Joint Strike Fighters it planned to buy because they cost too much. This, even though the Aussies are helping to create the next generation military jet. Wait, you mean there's already a military aircraft being built in part by foreigners?
The new tanker being put forward by Northrop Grumman and EADS is supposed to include a new system to defend itself from attack. Good thing. Seems a lot of defense has been necessary ever since Northrop and the Airbus folks beat out Boeing to win the massive contract.
Northrop Grumman updated analysts with a conference call on the KC-45 tanker program--the $35 billion contract Northrop and EADS beat out Boeing to win. Boeing has filed a protest, and today Northrop said it has completely stopped work on the tanker until a review of the protest is completed by the Government Accounting Office.
We’re talking tankers and sock monkeys, because…we can. In the latest volley over whether or not the Air Force tanker contract should be trashed, Northrop Grumman will hold a conference call Tuesday morning with analysts (reporters can listen) “to discuss the KC-45 tanker program.”
Boeing is reassessing the schedule for the new 787, the company said, an aircraft that some analysts believe will be further delayed.
It's hard being a realtor. To get paid, you have to agonize through the entire deal--spending time and money--and, increasingly, it all falls apart at the end. Even if the transaction is completed, clients start grinding you on the commission. Hey, that's business.
Northrop Grumman said its victory over Boeing for a roughly $35 billion Air Force refueling tanker contract will support thousands of US jobs, firing back at opponents of the deal who take exception with Northrop's partnership with France-based aerospace company EADS.
Here's one big difference between Boeing and Northrop Grumman: PR. Going into the long-anticipated tanker decision Friday, the Boeing team was in hourly contact with us, preparing for post-decision interviews. They've been in regular contact with me since last summer. Heck, they even sent me KC-767 playing cards!
The Funny Biz email inbox is overflowing this morning: On my profile of real estate mogul Jeff Greene Friday, an email from one of his tenants, Jim G, who says there have been a lot of problems...
In a stunning upset decision, the U.S. Air Force on Friday awarded Northrop Grumman and Airbus parent EADS a multibillion dollar contract for 179 refueling aircraft.
The Pentagon has just announced that it will reveal the winner of the $40 billion refueling tanker contract for the Air Force at 5 pm ET today. Boeing is considered the favorite, though the Northrop Grumman/EADS team is hoping to win at least part of the deal. No matter who wins, it's expected the loser will protest.
So as the country awaits the Air Force's decision on whether Boeing or Northrop Grumman will build the next generation of air refueling tankers--worth $40 billion--we were told the decision could come down as soon as the market closed on Monday
I was supposed to be on a plane right now to Denver, and then drive to Avon, Colorado, to "stake out" the Countrywide junket for lenders at the Ritz Carlton (see post from colleague Diana Olick). But after the Wall Street Journal reported the detes on the luxurious ski trip for 30 smaller lenders--Countrywide decided to nix the annual funfest.
In the never-ending battle between Coke and Pepsi, Cramer offers up a new best-of-breed.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
This is a big week for defense earnings, with Lockheed Martin and Northrop Grumman today both topping street estimates and Lockheed's CFO saying he sees "no huge risks" to big defense projects no matter who becomes president.
Finally, an oversold rally; the Dow moved 225 points the last 90 minutes. It was the first close at the highs for the year; financials led, but beaten up groups like airlines also posted a nice rally. Defense stocks rallied as well.
On Tuesday night, the Pentagon issued a $2.7 billion order for 3,100 more Mine-Resistant Ambush-Protected vehicles, or MRAPs -- designed to protect troops from roadside bombs in Iraq. Herer are the seven manufacturers that will gain from the order.
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