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FRPT 50M$ contract with US Army
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[QUOTE]Originally posted by Jo4321: [QB] Man this was an ugly day. From Yahoo Headlines http://biz.yahoo.com/ap/070226/force_protection_mover.html?.v=1 AP Force Protection Slides in Trading Monday February 26, 4:37 pm ET Force Protection Declines As Rival Wins $30.6 Marine Corps Vehicle Order NEW YORK (AP) -- Shares of military contractor Force Protection Inc. fell Monday after rival Oshkosh Truck Corp. signed a $30.6 million Marine Corps contract to build combat vehicles. Shares of Force gave up $2.89, or 14.5 percent, to $17 on the Nasdaq Stock Market. On Monday, Oshkosh said it will provide 100 military trucks designed to protect occupants from mines and improvised explosive devices under its "Mine Resistant Ambush Protected" vehicle program. Oshkosh plans to ramp up its production schedule and deliver the first units within 120 days. In January, the Defense Department named a slate of companies awarded contracts for up to 4,100 Mine Resistant Ambush Protected vehicles for the Marines and other military services. C.E. Unterberg Towbin analyst James McIlree said Force is seeing greater risk amid greater competition. "Clearly the Marines continue to keep their options open, as well as pressuring all vendors to quickly bring up capacity," McIlree wrote in a client note. But McIlree kept a "Buy" rating on Force, saying that the company will gain from the Marine's Mine Resistant Ambush Protected vehicle program, which has expanded from 1,200 vehicles to at least 6,700 vehicles for the Marines, Army and Navy. "While the number of participants in the program is greater than we anticipated we continue to believe ultimately two or three vendors, with field-proven vehicles and productive capacity, like Force Protection, will end up with the majority of the task orders," McIlree wrote. [/QB][/QUOTE]
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