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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
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04/17/201419:04:25Pentagon Official Criticizes Pratt & Whitney Over F-35 Costs...
04/01/201405:38:30South Korea Finds Drone Near Sea Border With North
03/26/201415:35:23Efforts to Cut F-35 Costs Hinge on Foreign Partners
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03/04/201418:21:28Pentagon Plans to Fund New Sikorsky Helicopter
03/04/201416:17:54Pentagon Eyes Boost for Aircraft, Missile Defense
02/07/201401:16:14Australia Rethinking Military Drones -- Update
01/30/201417:20:25Private Lawsuit Alleges Northrop Grumman Defrauded U.S. of $62...
12/10/201309:33:06U.S. Hot Stocks Futures: Hot Stocks to Watch
12/09/201318:20:12Northrop Grumman Pays $11.4 Million to Settle Improper-Charges...
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-

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