Defense Stocks Trading for July 6th; KTOS, LMT, RTN, OTCBB: VSUL
Defense Budget Discussions Underway
Point Roberts, WA- July 06, 2011 – Investorideas.com, an investor research portal covering multiple stock sectors including defense and security stocks, presents a sector close up on defense and security stocks June 6th . The House began debate on July 6th that could potentially increase the defense budget by $17 billion for 2012, but there is a direct message from the President on where he wants defense spending to go.
At a recent town hall meeting, President Obama stated “The nice thing about the defense budget is it's so big, it's so huge, that, you know, a one percent reduction is the equivalent of the education budget.”
Some of the smaller companies in the sector including Visualant, Incorporated (OTCBB: VSUL), a company that has developed a light-based security technology, aren’t directly impacted by budget cuts. The technology has applications for anti-counterfeiting, forgery/fraud prevention, brand protection and process control applications, outside of the homeland security sector. It has also licensed its technology for environmental applications.
The company agreed to sell up to $3 million in shares of common stock to venture firm Ascendiant Capital Partners. The stock closed trading at $0.21.
Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) fell 0.255 to $12.15 after analyst at Kaufman Bros. started a coverage on the stock with a hold rating.
Lockheed Martin Corporation (NYSE:LMT) shares climbed 0.65 (0.80%) to $81.62. The company recently delivered the first VNsight production unit for the U.S. Army's Apache Attack Helicopter, which adds a low-light-level display capability to the AH-64D Apache's combat-proven Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS), or Arrowhead®, system.
According to the Department of Defense contracts awards for July 6th, Lockheed Martin, Mission System & Sensors, Owego, N.Y., was awarded a $47,000,000 cost-plus-fixed-fee contract. The award will provide for procurement of autonomous technologies for unmanned aerial systems to maximize performance requirements and capabilities with mature technologies. Work will be performed in Owego, N.Y., with an estimated completion date of June 29, 2016. One bid was solicited, with one bid received. The U.S. Army Contracting Command, Fort Eustis, Va., is the contracting activity (W911W6-11-D-0008).
Raytheon Company (NYSE:RTN) shares fell 0.01 (-0.02%) to $49.62. This morning, the company announced that the U.S. Army has awarded a $36 million contract for the final phase of the Excalibur Ib development program to Raytheon.
Defense and Security Stocks Snapshot
L-3 Communications Holdings, Inc (NYSE: LLL ) fell 0.31 (-0.36%) to end the day at $86.46.
Northrop Grumman Corporation (NYSE:NOC) surged 0.01 (0.01%) to $70.00.
Raytheon Company (NYSE:RTN) lost 0.01 (-0.02%) to $49.62.
Visualant, Incorporated (OTCBB: VSUL) ended the day flat at $0.21
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About Visualant, Inc. (OTCBB: VSUL)
Visit the company profile on Investorideas.com
Visualant, Inc. develops low-cost, high speed, light-based security and quality control solutions for use in homeland security, anti-counterfeiting, forgery/fraud prevention, brand protection and process control applications. Its patent-pending technology uses controlled illumination with specific bands of light, to establish a unique spectral signature for both individual and classes of items. When matched against existing databases, these spectral signatures allow precise identification and authentication of any item or substance. This breakthrough optical sensing and data capture technology is called Spectral Pattern Matching (SPM). SPM technology can be miniaturized and is easily integrated into a variety of hand-held or fixed mount configurations, and can be combined in the same package as a bar-code or biometric scanner. www.visulant.net
Through its wholly owned subsidiary, TransTech Systems, Inc., the Company provides security and authentication solutions to security and law enforcement markets throughout the United States. www.ttsys.com
Contact Visualant, Inc.
Lynn Felsinger, 206-903-1341
Investor RelationsCore Consulting Group
Paul DeRiso, 925-465-6088
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