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Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Boeing Group Gets U.S. Border Pact

  • Summary: Defense contractor Boeing Co. (BA) has won an estimated $2 billion contract from the Department of Homeland Security to help to secure America's border with Mexico. Boeing will lead a team of companies in the first phase of the department's Secure Border Initiative [SBI]. That phase, called SBInet, is intended to create a "virtual fence" along the border through the use of technology like motion sensors, cameras, unmanned aircraft and cellular telephones. In securing the contract, Boeing beat other teams led by Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
  • Related links: Boeing Is Set for Takeoff ♦ 9/11: Its Lasting Impact on the Economy and Defense Stocks
  • Conference call transcripts: Boeing Q2 2006, July 26, 2006

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Source: Boeing Group Wins Border Contract from Department of Homeland Security