This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Force Protection's Wild Ride

OKLAHOMA CITY -- Force Protection (FRPT) is on a roll lately.

Shares have risen almost 50% over the last month as the Ladson, S.C., manufacturer vies for lucrative orders under the government's armored vehicle contract. But given the competition from deep-pocketed rivals such as Navistar (NAVZ) and British-based BAE Systems, even Force Protection fans have been bracing for a wild ride.

"Based on the fluidity of the Mine-Resistant Ambush-Protected vehicle program, we continue to believe that FRPT will be one of the most volatile stocks in the defense industry over the next several quarters," Friedman Billings Ramsey analyst Patrick McCarthy cautioned earlier this month in raising his rating to outperform from market perform. "We expect the news flow to be significantly positive in the near-term, however."

Indeed, even bad news has been positive for Force Protection and its foes of late. They surmounted a potential roadblock in Congress late last week.

On the face of it, the news was bad for the armored car makers. Sen. Joseph Biden -- one of MRAP's biggest supporters -- withdrew his request for $23.6 billion in additional funding for 23,000 MRAP vehicles like those made by Force Protection.

Biden dropped the request after fellow senators questioned whether manufacturers could even produce so many vehicles. But tellingly, the senators opposing Biden's measure also made clear they would support a request for additional MRAP funds when they deem them necessary.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs