Lockheed Secures Billion Dollar Air Force Training Contract, Beating Out L-3

Lockheed Martin was awarded an Air Force Special Ops and Search & Rescue training contract, beating out a rival bid from L-3 Communications Holdings. The one-year contract, announced Thursday, is valued at $1.07 billion. Lockheed already held the previous Aircrew Training and Rehearsal Support contract. The contract is with Lockheed Simulation, Training and Support, based in Orlando, FL. It will provide training, hardware, software and course instruction to involved air force personnel. Lockheed shares fell 0.28% in after-hours trading Thursday, after climbing 1.29% in regular trading.

Sources: AP, Reuters
Commentary: Lockheed: Q1 Profit Up 17%, Beats Street, Raises Guidance • Lockheed Martin: Continued Improvement Due to Accounting Changes • Cramer's Take on LMT
Stocks/ETFs to watch: Lockheed Martin Corporation (LMT), L-3 Communications Holdings (LLL). Competitors: The Boeing Company (BA), Northrop Grumman Corporation (NOC), Raytheon Company (RTN). ETFs: iShares Dow Jones US Aerospace & Defense (ITA), PowerShares Aerospace & Defense (PPA)

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