Lockheed Martin formally protests Raytheon AMDR contract win

Lockheed Martin (LMT +1%files a formal protest against the Navy's award of the AMDR contract to Raytheon (RTN +2.3%).

LMT, which makes the Aegis combat system, says because it's been "engaged on the system for the past 42 years, [it] has a deep understanding of the program and mission."

The next-gen air and missile defense radar that RTN is set to build would replace LMT's SPY-1 radar.

In the end, LMT is just looking out for the interest of the government of course: "We are most concerned that the Navy's AMDR contract award decision, if implemented, would incur significant costs at this time of severe defense budget restrictions."

From other sites
Comments (1)
  • SevericK
    , contributor
    Comment (1) | Send Message
    Is this bad?
    23 Oct 2013, 03:12 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs