It's a potentially profitable area for them, and one that won't be shrinking. But they need to land a big contract, because the defense budget should be flattening.
More Quotes from Paul Nisbet:
They're Boeing going to become more traditional in their business over the next few years, with the commercial bouncing out ahead of the military, back to where it used to be.Paul Nisbet
They (defense stocks) are above normal prices, but that is based on above-normal expectations. If those expectations are dashed by one or two companies, they are certainly going to feel it in their stock prices.
Paul Nisbet
Any time you have people that you don't need, you're going to lose money, ... I suspect they're adjusting their workforce to the work they do. If they don't, they can't survive.
Paul Nisbet
It's a tough business, ... You are bidding set prices on multi-dimensional construction projects and the competition is very steep.
Paul Nisbet
With the Bush administration, we'll see a rebuilding of the military to bring it back to where it was eight years ago. We'll see a considerable appreciation in defense stocks, as we saw in the Reagan years.
Paul Nisbet
It must be in the military side. I think there's some profit-taking going on.
Paul Nisbet
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