- General Dynamics Corp (NYSE:GD) subsidiary General Dynamics NASSCO has received $1.4 billion in U.S. Navy contract modifications for the construction of a sixth Expeditionary Sea Base ship (ESB 8) and two additional John Lewis-class fleet oilers (T-AO 211 and 212).
- The award comes in addition to $600 million already received to procure long-lead time materials for the same ships.
- The contract modification also offers an option for the Navy to procure an additional oiler, T-AO 213, bringing the total potential value to $2.7 billion for the four ships.
- Construction of the four ships is scheduled to begin in 3Q23 and continue into 2027.
- Price Action: GD shares closed lower by 0.16% at $228.79 on Friday.
Shares Pop As This $11B Tech Company Announces Double-Digit Headcount Cut: What You Need To Know
Twilio Inc (NYSE: TWLO) will lay off 17% of its workforce (about 1,500 positions) as part of a major restructuring plan, the company announced in a Monday blog post.
