Aerospace company Lockheed Martin (LMT) - Get Report said on Wednesday that it had secured a $104 million U.S. Air Force contract to develop and manufacture a threat simulator to train combat aircrews to identify and deal with emerging threats.
Tim Cahill, VP of air and missile defense systems for Lockheed, said several countries had already shown interest in the Advanced Radar Threat System Variant 2, and talks could begin shortly on possible sales.
"It's a cool little program," he said. "This is just the first tranche, but it has the potential to be a really big program for us."
"As the capabilities on the ground from potential threat nations get stronger and better and more capable ... it's very important that the pilots need to train against a system that is actually a high-fidelity simulation of what they would fly against in combat," he said.
Shares of Lockheed Martin rose slightly on Wednesday.
What's Hot On TheStreet
Alibaba's Jack Ma woos Detroit: TheStreet has spent the past two days in Detroit covering Alibaba's (BABA) - Get Report big hiring event in Detroit. We have had the opportunity to talk with Alibaba and take in how the Chinese tech company plans to grow jobs in America. But the real showstoppers have been the presentations with Alibaba's executive chairman Jack Ma, who as always hasn't been short on bold proclamations.
Said Ma in a keynote address Tuesday evening, "If you don't sell products in China, you will miss the future." Ma and other Alibaba executives have also sought to downplay the comparison to Amazon (AMZN) - Get Report . After spending a few days in Alibaba land, you understand where they are coming from. But, you are also reminded of how dominant Amazon is in the United States in so many categories (one soon to be organic food via Whole Foods (WFM) ).
Tesla mania continues: Tesla's (TSLA) - Get Report market cap is $60 billion and growing. At this point, Wall Street's obsession with all things Tesla has gotten out of control. Thestreet's Annie Palmer drills down into news Tesla could be opening a car-making plant in China. The last thing President Trump needs is a fight with Elon Musk on this one, Palmer reports.
Uber's embattled founder resigns: Uber Technologies Inc. founder and CEO Travis Kalanick has resigned from the ride-sharing company, TheStreet reports. The move comes just days after he was asked to take a leave of absence in the wake of a report into allegations of discrimination and bullying at the world's startup.
"I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight," Kalanick said in a statement given to the New York Times, which originally reported his departure.
Here is what Uber co-founder Garret Camp had to say this week about Uber's culture.
Check out TheStreet's new series: TheStreet has officially launched a new video series called Alpha Rising, where we will showcase all of the amazing women in business. TheStreet's Tracy Byrnes sits down with some of the top women kicking butt in business such as Birchbox' CEO Katia Beauchamp, who revolutionized the beauty business.
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