Blog » Aerospace/Defense » Industry Week in Review – January 14, 2011

Industry Week in Review – January 14, 2011

By

Managing Director, KippsDeSanto & Co.

Posted on January 14th, 2011

Posted under: Aerospace/Defense

Stocks ended moderately higher Friday, as investors began to shift focus to next week when a multitude of corporate reports will be released. The Dow and S&P posted their seventh straight week of gains, the longest such streak for the Dow since a two month consecutive gains streak that ended in April 2010. It was reported this week that Armed Services Committee chairman, Rep. Buck McKeon, is planning to propose a new rules package at a meeting, as early as next week, that will reorganize the seven subcommittees, and shift oversight of certain weapons programs, including Navy and Marine Corps tactical jets. Democrats are expected to announce their committee assignments at the same meeting.

This week’s big movers:

  • ITT Corporation (Up 12.7%)
  • EADS (Up 11.7%)
  • EMBRAER (Up 12.4%)
  • SpiritAeroSystems Holdings Inc. (Up 11.1%)
  • Rheinmetall AG (Up 9.8%)

Relevant transactions:

  • Deloitte announced on Friday that it has acquired substantially all of the assets of Altos Management Partners, Inc., and Altos sister company MarketPoint, Inc.
  • Mercury Computer Systems announced on Wednesday that it has completed the acquisition of LNX Corporation
  • The Rheinmetall Group announced on Tuesday that it is now the sole owner of German based Verseidag Ballistic Protection GmbH
  • DRS Sonar Systems, LLC, a DRS / Thales joint venture, announced on Monday that it has acquired Advanced Acoustic Concepts, Inc.
  • Precision Aviation Group, announced on Monday the acquisition of Dallas-based Avcenter LLC
  • API Technologies Corp. announced on Monday a definitive merger agreement with Vintage Capital Management LLC to acquire SenDEC Corporation
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