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Boeing Army Radio Program Terminated By Pentagon -Bloomberg

DOW JONES NEWSWIRES Boeing Co.'s (BA) largest U.S. radio program was terminated by the Defense Department because of rising costs, Bloomberg reported on its website Friday, citing a letter to Congress from the Pentagon's acting top weapons buyer. "Based on growth in the unit procurement costs, I am terminating the program," Frank Kendall wrote in the letter, which was obtained by Bloomberg News. The Defense Department will pursue a development program to buy less-powerful radios to "provide required military capability at less cost," Kendall wrote. Boeing was developing the Joint Tactical Radio System's Ground Mobile Radios as part of a group that included Northrop Grumman Corp. (NOC), Rockwell Collins Inc. (COL), BAE Systems Plc (BA.LN) and Harris Corp. (HRS). Full story at http://www.businessweek.com/news/2011-10-14/boeing-army-radio-program-terminated-by-pentagon-as-costs-rise.html -Dow Jones Newswires; 212-416-2900

Stock News for Northrop Grumman (NOC)
DateTimeHeadline
09/29/201609:00:00Northrop Grumman to Build Additional MQ-8C Fire Scouts to meet...
09/28/201609:30:00Northrop Grumman to Showcase Advanced Technologies for the US...
09/26/201613:09:15MQ-4C Triton UAS Completes Critical Milestone to Expand Navy’s M...
09/25/201613:56:00Big Spending on Warplanes Spurs Aerial Arms Race
09/21/201608:00:27Northrop Grumman Delivers First AQS-24B Mine Hunting Sonar Upgrades...
09/19/201622:00:00Intel Hires Bob Swan as Finance Chief
09/19/201617:20:00Former eBay CFO Bob Swan Named New Intel Finance Chief
09/19/201613:57:08Air Force Names the B-21 Bomber the Raider
09/19/201612:40:00New Air Force Bomber to Be Named the Raider
09/19/201612:30:00New Air Force Bomber to Be Named the Raider
09/08/201613:32:06Northrop Grumman to Showcase Advanced Technologies for the National...
09/06/201611:28:43Northrop Grumman Sperry Marine Launches CompassNet at SMM 2016
09/06/201609:00:00Northrop Grumman Awarded Contract for Nine GaN G/ATOR Systems
09/02/201616:17:01Statement of Changes in Beneficial Ownership (4)
09/02/201616:16:10Statement of Changes in Beneficial Ownership (4)
09/01/201612:34:41Northrop Grumman to Demonstrate Remote Mine Hunting Capability...
09/01/201612:30:00Northrop Grumman to Demonstrate Remote Mine Hunting Capability...
08/31/201609:00:00Northrop Grumman Annual CEESIM User Meetings Emphasize Collaboration...
08/25/201612:00:00Northrop Grumman Demonstrates New Maritime Domain Awareness Capabilities...
08/23/201616:00:00Northrop Grumman Receives DOD James S. Cogswell Award for Outstanding...

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