ANKARA, Turkey— Turkey says a recent notice seeking to reserve a large swath of airspace over the Aegean Sea for military maneuvers was issued by mistake and then canceled. Bilgic said Turkey would not declare a new NOTAM for "a certain period of time" and said Turkey was willing to resolve the dispute through talks. The two NATO allies have been at odds for decades...» Read More
Lockheed Martin and Northrop Grumman reported sharp increases in fourth-quarter profit on Thursday and raised full-year forecasts, as two of the world's largest defense contractors capitalized on the continuing boom in U.S. military spending.
The company, which makes Abrams tanks and Stryker combat vehicles for the U.S. Army as well as Gulfstream jets, reported net profit of $408 million, or $1 a share, compared with $406 million, or $1 a share, a year earlier.
Shares of Boeing fell sharply after Wachovia downgraded the aerospace and defense company to market perform from outperform.
More than 1,000 machinists will return to work at Raytheon Missile Systems next week after a 70-day strike, the company said Sunday.
Today, additional U.S. troops are heading to Iraq as a part of the President’s plan to increase armed forces on the ground. A large percentage of the 21,500 additional service men and women will be stationed in Baghdad to help fight insurgents. Asked how long that buildup might last, Defense Secretary Robert Gates said...
The U.S. government spent some $30 billion on the defense in 2006--and that helped make stocks in the sector quite valuable to investors. As we look into 2007, the question about how defense stocks will do this year was a topic on "Morning Call" (we had viewer email submissions). The question may be even more important as the Democrats take control of Congress.
IBM and Siemens have been commissioned by the German armed forces to oversee a 7.1 billion-euro ($9.3-billion), 10-year IT modernization project, the two companies confirmed on Thursday.
France's Defense Ministry said Friday it awarded a 7.9 billion euro ($10.4 billion) contract for nuclear-propelled submarines to state-owned warship builder DCN and nuclear energy group Areva.
The F-35's safe first flight is an important step toward full production of the $276.5 billion fighter project, which Lockheed Martin is developing.
Lockheed Martin shares hit an all-time high on reports of new aircraft orders from the U.S. Air Force.