United Launch Alliance (ULA), a Boeing Co and Lockheed Martin Corp joint venture, said on Wednesday it would invest heavily in a new rocket engine being developed by Amazon.com Inc founder Jeff Bezos and his company Blue Origin.The new engine, called the BE-4, could be ready for use in four years, and would cost substantially less than the Russian-built RD-180 engine now used to power ULA's heavy-lift Atlas 5 rockets, officials from both companies told reporters.The U.S. government is grappling with how to reduce its reliance on the Russian-built engines, a matter of growing concern this year after Russia' actions in Ukraine.The announcement showed mounting pressure on ULA, the sole rocket launch provider for most U.S. military and spy satellites, to lower costs as it faces growing competition from another entrepreneur, Elon Musk, and his firm Space Exploration Technologies.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN fell by 1.15% or $-3.76/share to $324.00. In the past year, the shares have traded as low as $284.38 and as high as $408.06. On average, 3636030 shares of AMZN exchange hands on a given day and today's volume is recorded at 4138285.
The Boeing Company (Boeing) is an aerospace company. Shares of BA traded higher by 0.35% or $0.44/share to $127.76. In the past year, the shares have traded as low as $113.34 and as high as $144.57. On average, 4363220 shares of BA exchange hands on a given day and today's volume is recorded at 3139141.
Lockheed Martin Corporation is a global security and aerospace company engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products. Shares of LMT traded higher by 0.91% or $1.61/share to $178.80. In the past year, the shares have traded as low as $121.52 and as high as $177.94. On average, 1200140 shares of LMT exchange hands on a given day and today's volume is recorded at 1152632.
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