Huntington Ingalls Industries (NYSE: HII) reports that it has received an undefinitized contract award from the U.S. Navy to shift the delivery strategy for the aircraft carrier John F. Kennedy (CVN 79), currently under construction at its Newport News Shipbuilding division, from a two-phase delivery to a single phase.
The contract action has a potential total value of up to $315 million, providing initial funding for the procurement of long-lead material and planning, and is expected to be...