Electric Boat Gets Work

The Electric Boat division of General Dynamics(GD) has been awarded a 13.7 million dollar Navy contract.They will carry out alterations of Ohio-class nuclear submarines.The work involves the D-5 Trident ballistic missile and the submarines' attack weapons systems.Each of the 14 submarines,which are part of the U.S. strategic deterrent force,can carry 24 Tridents and has four torpedo tubes.They have a complement of 155 and can go faster than 25 knots submerged.Electric Boat is located in Groton,Connecticut.

Upgrades

Credit Suisse(CS) has upgraded Sunpower(SPWR) from neutral to outperform.Goldman Sachs(GS) has upgraded American International Group(AIG) to buy from hold.

A Great Marine

Jack Lucas,a U.S. Marine who won the Medal of Honor for his courage at Iwo Jima,died on 5 June in Hattiesburg,Mississippi.He was 80.In the course of battle,Mr.Lucas,then 17,threw himself on two hand grenades,shielding three other Marines from the explosion.In consequence,he carried grenade fragments in his body for the rest of his life.There were more than 250 pieces of shrapnel in him.He even had two pieces in his heart and six pieces in his brain.Mr.Lucas was an inspirational speaker and an acquaintance of presidents.President Harry S. Truman awarded him the Medal of Honor in 1945.

Goldman Upgrades

Goldman Sachs(GS) has upgraded Murphy Oil(MUR) from hold to buy.It has also added The Mosaic Company(MOS) to its conviction buy list.

Essex Withdraws

The USS Essex(LHD 2) and her task force of three ships have withdrawn from the coast of Myanmar.After 15 attempts to convince the Myanmar leaders to allow aid to the cyclone-ravaged land,Admiral Timothy J. Keating,Commander,U.S. Pacific Command,said he was saddened and frustrated by the leaders' unrelenting position.Keating had personally flown to the capital,Rangoon,and offered to permit Myanmar personnel aboard Navy ships and aircraft.British and French warships were also turned away.The Navy remains willing to assist,Admiral Keating said.

Tetra Tech Gets Work

Tetra Technologies(TTI) has been awarded a four year contract by Petroleo Brasileiro(PBRa),the Brazilian state oil company.Tetra will supply completion fluid,which is used in the oil extraction process.

Defining Battles

The U.S. Marine Corps has fought several defining battles.It is humbling to contemplate these historical achievements,accomplished at the ultimate cost.World War I:Belleau Wood,World War II:Iwo Jima,Korea:Chosin Reservoir,Vietnam:Khe Sanh,Iraq:Fallujah(November-December 2004).They are famous,but are all too real to be legends.

7 Investing Commandments

Gene Marcial of Business Week magazine advises:1.Buy panic.2.Concentrate holdings.3.Buy angelic losers.4.Forget timing the market.5.Follow the insider.6.Don't fear the unknown.7.Always invest for the long term.