Thursday, February 19, 2015

Pentagon's expansion of submarine, destroyer fleets makes shipbuilder a Wall Street winner

Huntington Ingalls Industries posted lower fourth-quarter profit and revenue, though results still topped Wall Street expectations as its Newport News shipbuilding segment reported higher submarine and energy revenue.
The U.S. Navy’s largest shipbuilder has been more sheltered than most defense contractors from budget cuts as the Pentagon is expanding its fleet of submarines and destroyers, as well as launching a new range of aircraft carriers, redirecting resources toward the Asia-Pacific region.
-- Wall Street Journal, 19 Feb 2015

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