Textron unit awarded $113.4M firm-fixed-price contract Textron Marine & Land Systems announced that it has been awarded a $113.4M firm-fixed-price contract from the U.S. Army Contracting Command, Warren, Mich., to produce an additional 135 Mobile Strike Force Vehicles for the Afghan National Army. The vehicles are being contracted through the U.S. Army Foreign Military Sales process. Work will be performed at Textron Marine & Land Systems' facilities in the New Orleans area, with vehicle deliveries scheduled through February 2014.
Aerospace sector downgraded to Neutral from Attractive at Goldman Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.