- Lockheed Martin (LMT -1.1%) says it should get some "clarity" in the near future on a potential multibillion dollar modernization program for the Saudi Arabian Navy.
- The company and Prince Salman bin Sultan are said to have discussed the matter at the Dubai Air Show.
- The program, called SNEP, is rumored to include the possible purchase "of up to 12 of LMT's steel monohull Littoral Combat Ships or the larger DDG-51 destroyer built by GD," Reuters says.
- The deal might also include LMT's Aegis combat system and the MH-60R helicopter."
at Zacks.com (Nov 18, 2014)