Search results for Lockheed Martin
Telecommunications & Media
U.S. Pentagon drops OCX GPS ground control programme after 16 years
The U.S. Defense Department has formally halted OCX, a next-generation ground control system for the U.S. military’s GPS satellite network, after years of technical problems and cost and schedule overruns. The programme, awarded in 2010 to Raytheon, now RTX, was initially expected to cost $3.7 billion and finish in 2016, but government spending rose to about $6.27 billion and total completion was estimated near $8 billion. The U.S. Space Force will instead upgrade the existing GPS control system.
AI & Enterprise
Oracle raises guidance after strong third-quarter results; cloud revenue jumps 44 percent
Oracle reported results that beat market expectations, sending its shares up 7 percent, CNBC reported on March 10. Oracle also raised its 2027 revenue guidance to $90 billion. In the fiscal quarter ended in late February, total revenue rose 22 percent from a year earlier, while cloud revenue jumped 44 percent to $8.9 billion. Cloud infrastructure revenue increased 84 percent.
Finance
Wall Street ends mixed as investors buy dip; Nasdaq closes higher
Wall Street\'s three main indexes ended mixed on strong dip-buying. Risk-off sentiment spread after the United States and Iran entered an all-out war over the weekend, sending indexes lower at the open. Investors later reversed the move, judging the war as removing uncertainty. The Dow fell 0.15 percent, the S&P 500 rose 0.04 percent and the Nasdaq gained 0.36 percent. Energy stocks jumped while some defensive sectors fell.
