NEIK (NEIK.OB) Stock Surges Up on Lockheed Contract News
Shares of Northstar Electronics, Inc. (OTCBB: NEIK) were trading up 5 cents (63 percent) at 13 cents per share on volume of 251,800. The company announced today that Lockheed Martin (NYSE: LMT) awarded a contract to its wholly-owned subsidiary, Northstar Network Ltd., for work on the P-3 Orion maritime patrol aircraft. The contract runs through 2012, covers 48 aircraft, and has a value of approximately $6.31 million. This contract should brighten the spirits of shareholders considering Northstar’s current market cap of $3.25 million and its 2006 revenues of $1.46 million. "Northstar will be responsible for supplying approximately 600 parts and…