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LightPath Technologies Shares Drop Nearly 20%
LightPath Technologies (LPTH) is under pressure on Friday after the U.S. Army signaled it is casting a wider net for companies that could support its effort to replace the Stinger missile. Lockheed Martin (LMT) and RTX's (RTX) Raytheon remain the lead contractors developing prototypes for the Next Generation Short Range Interceptor program, and LightPath currently provides the infrared imaging tech used in Lockheed's design. But in an August 26 notice, the Army said it plans to evaluate additional potential sources ahead of a planned spring 2027 demonstration, a milestone that could ultimately determine who wins the procurement award. Shares of LightPath are down almost 20% at $11.05 in afternoon trading.
RTX Awarded Not-to-Exceed $240.75M Contract Modification
RTX was awarded a not-to-exceed $240.75M cost-plus-incentive-fee and cost-plus-fixed-fee modification to a previously awarded contract. This modification increases the not-to-exceed value, adding scope to provide non-recurring engineering to mature the F135 engine, address operational issues, improve readiness, and support the transition of the engine core upgrade from risk reduction design review into engineering and manufacturing development, including long-lead hardware for a spare test engine in support of the Air Force, Marine Corps, Navy, and F-35 Cooperative Program Partners F-35 Joint Strike Fighter programs. Work is expected to be completed in March 2028. This contract was not competitively procured. Naval Air Systems Command is the contracting activity.
RTX Awarded $603M B-52 Radar Contract
RTX has been awarded a $603M ceiling, indefinite-delivery/indefinite-quantity contract for B-52 radar production and sustainment. This contract provides for radar modernization on B-52 aircraft, equipping them with the new AN/APQ-188 radar. Work is expected to be completed by Aug. 20, 2031. This contract was a sole-source acquisition. Fiscal 2026 aircraft procurement, Air Force funds in the amount of $46.01M are being obligated at time of award with the initial delivery order. The Air Force Life Cycle Management Center is the contracting activity.
U.S. Army Awards Collins Aerospace Contract Worth Up to $472M
The U.S. Army awarded Collins Aerospace, an RTX business, a contract worth up to $472M to provide engineering services that support the modernization and sustainment of the CH-47 Chinook fleet. The engineering services will deliver avionics upgrades that help integrate new capabilities more efficiently, address obsolescence and strengthen the aircraft's avionics architecture to support continued mission readiness in a rapidly evolving operational environment.
Raytheon Secures $745M Missile Contract
Raytheon, an RTX business, has received a $745M contract from the Missile Defense Agency for the production and sustainment of Standard Missile-3 Block IIA interceptors. RTX has made significant investments to expand capacity and accelerate production of the Standard Missile Family. This includes a recent $115M expansion of its Alabama missile integration facility, which will increase the facility's integration and delivery capacity by over 50%. Production under this contract will be completed at Raytheon facilities in Tucson, Arizona, and Huntsville, Alabama.
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