- Parker-Hannifin Corp (NYSE:PH) business segment Parker Aerospace has been selected by the Sikorsky-Boeing team for the DEFIANT X entrant in the Future Long-Range Assault Aircraft (FLRAA). Financial terms were not disclosed.
- Sikorsky, a Lockheed Martin Co (NYSE:LMT), and Boeing Co (NYSE:BA) are partnered as Team DEFIANT, competing for the Future Vertical Lift FLRAA program award.
- The hydraulic pump suite for the DEFIANT X aircraft will consist of main gearbox pumps and a smaller auxiliary pump.
- The next-generation design offers benefits such as lighter weight and less heat rejection, resulting in reduced fuel burn than alternative pumps.
- The company noted these benefits provide lower life cycle costs for the U.S. Army.
- Price Action: PH shares are trading lower by 1.65% at $286.84 on the last check Thursday.
Recession Signal? Softbank Vision Fund Weighs Downsizing Up To 30%
Softbank Group Corp (OTC: SFTBF) has started laying off employees at its loss-making Vision Fund and will likely cut at least 30% of its staff.
