Northrop Grumman Corp. (NOC) was awarded a $302.9 million fixed price incentive fee contract for five RQ-4 Global Hawk high-altitude, long-endurance (HALE) unmanned aircraft systems (UAS), by the U.S. Air Force. Earlier, the U.S. Air Force granted RQ-4 Global HALE with a military Airworthiness Certification (AWC), a significant milestone in the life of the aircraft system and a step on the path to routine unmanned flight within the United States.

Under the Lot 7 production contract, the company will build two Block 30 systems and three Block 40 systems for the Aeronautical Systems Group at Wright Patterson AFB in Dayton, Ohio. The award also includes a ground station consisting of a launch and recovery element and a mission control element, plus two additional sensor suites that will be retrofitted into previous production aircraft. The contract runs through 2011.

The company will deliver in 2010 the two Block 30 aircraft equipped with

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How do you like this recovery? Pretty good, huh? Except for the jobs, of course. And except for the retail sales. And except for the foreclosures… and house prices. And incomes. And consumer prices. And business profits. It’s like a female impersonator… just like a real woman in every way, except for the essential ones.

At least stocks are doing well. The Dow rose another 36 points yesterday. In terms of time, it’s already beat the bounce of ’30… it’s in its 6 th month. In terms of stock prices, it’s still a laggard, however. US stocks are up about 45% from their low of 6,547 on the Dow. By that measure, the current reading of 9,398 falls a little short of the 50% increase registered 5 months after the ’29 low.

Yesterday’s news was a big disappointment for mainstream economists. It’s ‘back to the drawing board,’ says the Wall Street Journal.

The

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DPL Inc. (DPL) continues to benefit from its stable regulated electric power operations. Fiscal 2008 saw gains on the sale of coal and emission allowance, reduced fuel costs through scrubbers, higher revenue mainly in the retail segment, and a focus on debt reduction. However, increased purchased power costs, a renewable energy thrust in the new Ohio electric energy bill, lower wholesale revenue and uncertainty over the successful allocation of new capital towards greater earnings power remain a concern.For fiscal 2008, income from continuing operations increased 15.4% to $244.5 million, or $2.12 per diluted share ($2.22 basic), from $211.8 million, or $1.80 per diluted share ($1.97 basic), for fiscal 2007. During the period, revenues increased $85.9 million, or 6%, to $1,601.6 million for 2008 compared to $1,515.7 million for 2007. This increase was primarily the result of higher average rates for retail and wholesale sales and an ...

Dayton, Ohio-based DPL Inc. (DPL), a diversified energy utility, sells electricity through its two principal subsidiaries: Dayton Power and Light Company (DP&L) and DPL Energy, LLC. DPL owns approximately 900 megawatts (MW) of natural gas and diesel peaking generation, and 2,850 MW of coal-fired generation.

DPL continues to benefit from its stable regulated electric power operations. The first nine months of 2008 saw gains on the sale of emission allowances, rein in of fuel cost through scrubbers, higher rates mainly in the retail and wholesale segments, and focus on debt reduction. However, increased purchased power costs, a renewable energy thrust in the new Ohio electric energy bill, and uncertainty over the successful allocation of new capital towards greater earnings power remain a concern.

Accordingly, we maintain a BUY recommendation on DPL common stock with a six-month target price of $23.00. Price appreciation to our near-term valuation target, coupled with the recently

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