Lockheed Martin Corp., the nation’s largest defense contractor, said Friday that it was awarded a $3.5 billion contract modification to make 31 F-35 Lighting II stealth fighter aircraft for the Defense Department. Lockheed, which is based in Bethesda, Md., said it will make 10 F-35A aircraft for the Air Force,…
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Lockheed Martin gets $3.5 billion Defense Department contract modification for F-35 fighters
Payment processor Visa Inc. gave its chairman and CEO a pay package worth about $12 million this year, according to Associated Press calculations of data filed Friday with regulators. That marked a 15 percent drop from last year, due to fewer stock options and restricted stock grants. According to a filing with…
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Visa CEO receives $12 million pay package for 2010, about 15 percent less than last year
Natural gas producer Williams Companies Inc. said Friday that new CEO Alan Armstrong will take a seat on the company’s board at the same time he assumes the chief executive role on Jan. 3. The company announced on Oct. 12 plans for Armstrong to succeed CEO Steve Malcolm, who will retire at the end of the…
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Williams Cos. says incoming CEO Armstrong also to take board seat in January
Used-car retailer America’s Car-Mart Inc. said Friday its fiscal second-quarter profit slipped as it set aside more money to cover bad debt. The results fell short of analysts’ expectations, sending shares down 11 percent. The company’s operating expenses rose faster than its revenue, and its provision for…
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America’s Car-Mart 2Q profit dips on costs and credit losses and misses analysts’ expectations
Standard & Poor’s Ratings Services on Friday downgraded its outlook on Sears Holdings Corp., which operates Sears and Kmart stores and clothing seller Lands End, to negative from stable. S&P said it expects weak consumer demand and intense competition to hurt the company. The ratings agency also affirmed all…
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S&P shifts Sears Holdings outlook to ‘negative’ from ‘stable’, cites prospects for weak sales
General Electric Co. said on Friday that its joint venture with Snecma of France got an an order for 42 engines for HNA Group’s Airbus A320s, to be delivered beginning in 2012. The company also got a contract to service those planes. GE announced the deal for the CFM56-5B engines on Friday after an air show…
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GE joint venture sells engines to Chinese airlines, and leasing unit will buy 10 new planes
The Senate has approved major water rights settlements with American Indian tribes in Arizona, Montana and New Mexico that have been pending in some cases for decades. Calling the settlements historic, Interior Secretary Ken Salazar on Friday said they would deliver more than $1 billion combined to four…
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Senate approves more than $1 billion in water settlements with AZ, NM, MT tribes
Electrical construction products company WESCO International Inc. said Friday it will redeem all of its outstanding 2.625 percent convertible senior debentures due 2025. The company said it will redeem the debentures on Dec. 23. It has about $92.3 million in outstanding debentures. Shares of WESCO closed down…
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WESCO International says it will redeem $92.3 million in senior debentures
Bank holding company Hampton Roads Bankshares Inc. said Friday its shares may be delisted from the Nasdaq Stock Market because its stock price has traded below $1 per share for 30 straight business days. The stock closed down 2 cents at 63 cents on Friday. Since peaking at a 52-week high of $3.74 in April, the…
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Hampton Roads warned of possible stock delisting from Nasdaq for weak share price
Wells Fargo & Co. said Friday it will pay dividends on two series of preferred stock. A quarterly dividend of $20 per share will be paid on its 8 percent Class A preferred stock, series J. A payout of $18.75 per share will be made on its 7.50 percent convertible class A preferred stock, Series L. The dividends…
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Wells Fargo to pay dividends on preferred series J and L shares