Aerospace/Defense
Orbital to Buy Spacecraft Business
DULLES, Va. (TheStreet) -- Orbital Sciences(ORB) plans to acquire the spacecraft development and manufacturing business of General Dynamics' (GD) GD Advanced Information Systems unit.
The transaction is expected to close in about four weeks. Financial terms weren't made public. Orbital said the acquisition would enhance its position in the market for national security space systems, including spacecraft used in intelligence and surveillance and missile tracking. The deal also would strengthen Orbital's capabilities to design and make certain satellite systems, the company said in a statement. GD Advanced Information Systems has built 15 small- and medium-class satellites for the U.S. Air Force, NASA, and other government customers over the last 20 years. General Dynamics shares rose 60 cents, or 0.8%, to $73.54 in after-hours trading Thursday. The announcement of the deal was made after the stock market closed. Orbital shares declined 3 cents to $18.61 in the regular trading session. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo 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.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet