Russian Firm Won't Bid For Air Force Tanker Contract

Russia's state run avionics firm, United Aviation Corporation, will not join forces with a U.S.-based rival to bid on the controversial $50 billion U.S. Air Force tanker contract.

Northrop Grumman (NYSE: NOC) previously pulled out of the bidding for the lucrative contract and it appears at this juncture that Dow component Boeing (NYSE: BA) and Europe's EADS will likely see their joint bid emerge victorious.