Kratos Defense and Security Solutions Announces U.S. Navy Contract Award
On December 6, Kratos Defense and Security Solutions, Inc. (KTOS) announced that its Defense and Rocket Support Services division was awarded a SeaPort Next Generation prime contract. Under the contract, Kratos will provide engineering and program management support services to the U.S. Navy and Marine Corps. The SeaPort Next Generation contract provides the U.S. Navy with up to a potential total contract expenditure of $50 billion over 10 years.
Sonal alerted its subscribers about the news event at 9:00 am. The next trade took place for $12.75 before the market open at $12.52. The stock price closed at $13.74 and continued to climb over the next five trading sessions. Kratos closed at $14.56 on December 13 for a gain of 14.2%.
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