US contracts bolster BAE Systems
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Profits rise at BAE Systems after strong US growth, but it does not comment on corruption probes.
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Shares in BAE Systems PLC, Europe's largest defense contractor, rose Friday after a report that it is close to sealing a $40.4 billion) deal with Saudi Arabia for 20 Eurofighter Typhoon aircraft next week.
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Northrop Grumman Corp. NOC.N and  BAE Systems PLC BA.L were tapped by the Bush administration  on Wednesday to develop competing systems to protect U.S.  commercial aircraft from shoulder-fired missiles, a potential  multibillion-dollar market.
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Teams lead by BAE Systems and Northrop Grumman Corp. were chosen to further design, develop and test prototypes for protecting civilian aircraft from shoulder-fired missiles.
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BAE Systems was a leading gainer on Friday as JPMorgan said the market had underestimated the potential benefits from the burgeoning market for blast-proof military vehicles.
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Britain's BAE Systems said it had agreed to buy DigitalNet Holdings Inc, a provider of computer networks for the US government, for 600 million dollars (489 million euros) in cash.
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The defense contractor said second-quarter earnings rose on higher sales across most of its businesses, including fighter jets, missile defense and information technology.
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BAE Systems PLC and Northrop Grumman Corp. won $45 million contracts yesterday to develop prototypes of anti-missile technology that could protect commercial aircraft from shoulder-fired missiles.
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A trans-Atlantic bid from US firm Lockheed Martin wins the contract to supply President Bush's helicopters.
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Top-tier defense contractors Northrop Grumman Corp  and General Dynamics Corp  posted higher third-quarter profit on Wednesday and raised their financial forecasts on the back of strong U.S. military spending.
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Teams led by BAE Systems and Northrup Grumman were chosen Wednesday to build and test prototypes for anti-missile systems to defend US commercial planes against shoulder-fired rockets.
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A transatlantic venture led by  Lockheed Martin Corp. LMT.N on Tuesday won a $3 billion  contract to design and develop the Medium Extended Air Defense  System (MEADS), which is slated to replace Patriot missiles in  the next decade, the venture said on Tuesday.
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The Pentagon said on Tuesday it awarded more than $2.6 billion worth of contracts to BAE Systems Plc, Force Protection Inc and a Navistar International Corp unit to build another 3,126 mine-resistant vehicles for U.S. soldiers.
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Contract with Department of Defense is part of homeland security boom.
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The United States will spend more than $500 billion on security this year, a high-water mark that is creating boom times in the armaments industry.
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BAE Systems  is optimistic about the future of its business with Saudi Arabia, a senior manager said on Saturday, despite reports that the key customer had suspended talks over a multi-billion-pound arms deal.
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Two large military contractors, the Lockheed Martin Corporation and the Northrop Grumman Corporation, reported higher fourth-quarter profits on Thursday, both citing strong military and civil electronics business.