Latest news with #GeneralDynamics
Business Insider
2 days ago
- Business
- Business Insider
General Dynamics awarded $986.79M Navy contract modification
General Dynamics (GD) was awarded a $986.79M, cost-plus-fixed-fee modification to previously awarded contract for additional component development, class lead yard support, and Submarine Industrial Base supplier development enhancements supporting Columbia-class ballistic missile submarines and the nuclear shipbuilding enterprise. The industrial base development work is for the furtherance of the Navy's plan of serial production of Columbia-class and Virginia-class submarines. The Navy and Office of the Secretary of Defense Cost Assessment and Program Evaluation conducted the fiscal 2025 SIB Study to determine how to successfully complete the recapitalization of the submarine force. Work is expected to be completed by December 2031. Naval Sea Systems is the contracting activity. Confident Investing Starts Here:
Globe and Mail
3 days ago
- Business
- Globe and Mail
Chart of the Day 6/18/25: Defense Stock Strength is Nothing NEW
Sure, aerospace and defense stocks are strong NOW. The catalyst – more fighting in the Middle East – is on the news 24/7. But it's NOT a one-week, one-month, or even one-year story. These stocks have been strong for a LONG time – and the trend is worth paying attention to as a trader. Check out this MoneyShow Chart of the Day. It shows the performance of the $7.6 billion iShares US Aerospace & Defense ETF (ITA), along with other similar, smaller funds from ETF sponsors like Invesco, SPDR, and Global X. I also threw the SPDR S&P 500 ETF (SPY) in for comparison's sake. ITA, PPA, XAR, SHLD, SPY (3-Year % Change) Data by YCharts The outperformance is stark. ITA and PPA have returned roughly twice the SPY over the last three years. XAR has done slightly better than that. As for SHLD? It has more than 4X-ed the SPY! These ETFs have several overlapping holdings – including defense contractors and commercial aerospace names like RTX Corp. (RTX), Boeing Co. (BA), and General Dynamics Corp. (GD). As sector funds, they natrually aren't broadly diversified. And they will almost certainly pull back if the latest tensions simmer down. But in this more uncertain world – with more geopolitical threats than ever – are they really worth walking away from? Or are they just the thing to defend your portfolio against volatility? In a world where the US won't be the only nation spending more on deterrence? The answer seems pretty clear to me. If you want to get more articles and chart analysis from MoneyShow, subscribe to our Top Pros' Top Picks newsletter here.
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Corporate Sponsors at 250th Army Anniversary Parade and Festival
Twenty two corporations and foundations are sponsoring the 250th Army Birthday Parade and Festival on the National Mall, according to the Army. General Dynamics and USAA are the presenting sponsors for the festival, which is also benefiting from a long list of companies and nonprofits including: the Gary Sinise Foundation, Bell Textron, Wounded Warrior Project Wal-Mart, GOVX, Leonardo DRS, RTX Corporation, Lockheed Martin, Leidos, Armed Forces Mutual, Boeing, First Command, General Electric Aerospace, T-Mobile, King George, InterContinental Hotels Group and the NFL. America250 Foundation, the nonprofit organizing the U.S. Semiquincentennial celebration, recently announced it received sponsorship commitments from Oracle, Lockheed Martin, UFC, Coinbase, Palantir, Amazon, Exiger, Scott's Miracle Gro, Phorm Energy and FedEx. Many of those companies will also be supporting Saturday's parade, according to a press release from America250.
Yahoo
13-06-2025
- Business
- Yahoo
GDIT Awarded Mission Enhancing Enterprise Contract to Support Special Operations Forces
Company will leverage AI, cloud and cyber capabilities to enhance operational effectiveness FALLS CHURCH, Va., June 13, 2025 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today that it was awarded a foundational Information Technology Enterprise contract to support components of the U.S. Special Operations Command (SOCOM). The $396 million contract, awarded in April, has a one-year base period and four option years. SOCOM components require modernized IT networks to enable Special Operations Forces (SOF) to rapidly transfer, communicate and share operational and intelligence information, especially in contested and remote environments where speed and agility are crucial. Under this contract, GDIT will provide a full gamut of enterprise IT services that are well-integrated, flexible and adaptable to support SOF's dynamic and complex missions around the world. The company will leverage its AI capabilities to enhance operational effectiveness and improve decision making, migrate SOF to a multi-cloud environment, and implement advanced zero trust solutions to bolster cybersecurity. "Modern warfare is constantly evolving and enhancing SOF's digital capabilities is critical to mission success," said Brian Sheridan, GDIT's senior vice president for Defense. "We look forward to delivering a cutting-edge IT network that ensures our elite military units are connected to the intelligence they need to stay ahead in every mission." The contract builds on GDIT's history of delivering mission-critical IT capabilities for combatant commands. Last year, the company won a technical and mission services contract to support SOCOM and its partners. GDIT also provides digital modernization services for the U.S. Central Command and cyber services for the U.S. Southern Command. GDIT is a business unit of General Dynamics, a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $47.7 billion in revenue in 2024. More information about General Dynamics Information Technology is available at More information about General Dynamics is available at View original content to download multimedia: SOURCE General Dynamics
CTV News
13-06-2025
- Business
- CTV News
Defence spending boost can only go so far to lessen U.S. reliance: experts
A variant of the Light Armoured Vehicles, similar to those ordered by the Canadian Armed Forces, sits inside the General Dynamics Land Systems-Canada factory in London, Ont., Friday, Aug. 16, 2019. THE CANADIAN PRESS/Geoff Robins MONTREAL — In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. 'We're too reliant on the United States,' Carney said. 'We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America.' But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on 'advanced technology systems' such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. 'Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting.' Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. 'If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P,' he said. 'Diversify.' This report by The Canadian Press was first published June 13, 2025. Christopher Reynolds, The Canadian Press
