Premarket Alert: Watch defense contractors on contract news (OSK, FRPT, BAESY, GD, NAV)

Posted in pre-market 
July 1st, 2009

Oshkosh Corp. (NYSE: OSK) shares are up more than 20 percent in early premarket trading after the company was awarded a $1.06 billion fixed-price contract to from the U.S. Army for 2,244 MRAP mine-resistant All-Terrain Vehicles for use in Afghanistan. The Pentagon could order thousands more of the vehicles.

Other stocks to watch today on the news are the companies that Oshkosk beat out to provide the vehicles, including rival BAE Systems (BAESY) and Navistar International Corp. (NYSE: NAV), which has a joint venture between small-cap Force Protection Inc. (Nasdaq: FRPT) and General Dynamics Corp. (NYSE: GD) — Mike Tarsala

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