General Dynamics Corp. forecast a 2013 profit short of analysts’ estimates and reported a $2.1 billion fourth-quarter loss that the company attributed to ill- advised acquisitions and to declining defense spending.
At Huntington Ingalls Industries Inc.’s 665-acre shipyard in Pascagoula, Mississippi, shipbuilding unit president Irwin Edenzon says picking up a scrap of paper in the parking lot may prevent delays in building a $2.9 billion amphibious assault ship.
Boeing Co. said a merger that would transform rival European Aeronautic, Defence & Space Co. into the world’s biggest aerospace business may be intended to win more sales in the U.S., the largest defense market.
By merging to create the largest aerospace company, European Aeronautic, Defence & Space Co. and BAE Systems Plc will also be trying to improve the industry’s worst operating margin and a near record-low valuation.
Northrop Grumman Corp. maker of the U.S. military’s Global Hawk drone, raised its 2012 profit forecast after first quarter income rose 2 percent aided by higher sales and margins at its electronics unit.