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Stock impact report

As the Pentagon Tightens Its Belt, These Companies Could Get Squeezed [The Motley Fool]

General Dynamics Corporation (GD) 
Last general dynamics corporation earnings: 4/29 07:00 am Check Earnings Report
US:NYSE Investor Relations: investorrelations.gd.com
Company Research Source: The Motley Fool
Cost-cutting efforts inside the Department of Defense could create opportunities and risks for a number of top contractors. The Pentagon found $4.372 billion in cost savings during the recently completed fiscal 2018 and expects to find at least $6 billion more this year. That's a small drop in the bucket for a department with a $700 billion-plus budget, but it could have big ramifications for contractors in the years to come. Lisa Hershman, acting chief management officer for the Department of Defense, told reporters during a Dec. 11 briefing that during the year, the Pentagon identified more than 100 projects that are expected to result in the savings. She said the department has already found $1.7 billion in additional savings for fiscal 2019 -- well on the way to the $6 billion goal for the year. Image source: Getty Images. The Pentagon has been under pressure to reduce costs ever since reports surfaced in December 2016 that the department had dismissed an internal Show less Read more
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