- General Dynamics Corp (NYSE:GD) subsidiary General Dynamics NASSCO has secured $600 million in U.S. Navy contract modifications for long-lead-time material for three ships.
- This contract will support the construction of the seventh and eighth ships in the John Lewis-class fleet oiler (T-AO) program and the sixth ship in the Expeditionary Sea Base (ESB) program.
- The contract modifications for long-lead-time material provide $500 million for T-AO 211 and 212 and $100 million for ESB 8.
- Construction is scheduled to begin in 3Q23 and continue into 2027.
- Price Action: GD shares are trading lower by 0.40% at $219.60 on the last check Wednesday.
JP Morgan Maintains Overweight on Bumble, Raises Price Target to $39
JP Morgan analyst Cory Carpenter maintains Bumble (NASDAQ:BMBL) with a Overweight and raises the price target from $34 to $39.
