Navy Abandons Plans for Controversial Warship Design
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2025
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Source: WSJ
Navy's Warship Orders Cancelled: The U.S. Navy is canceling orders for four new warships due to extensive design modifications that delayed construction by years.
End of Constellation-class Program: This cancellation marks the end of the planned Constellation-class frigate program, which was initially ordered from Italian shipbuilder Fincantieri in 2020.
Ongoing Construction: The contractor will continue work on two ships that are already under construction despite the cancellation of the additional four.
Focus on Faster Designs: The Navy aims to free up resources to focus on vessels that can be designed and assembled more quickly.
Analyst Views on FCT
Wall Street analysts forecast FCT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FCT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About FCT
First Trust Senior Floating Rate Income Fund II (the Fund) is a diversified, closed-end management investment company. The primary investment objective of the Fund is to seek a high level of current income. As a secondary objective, the Fund attempts to preserve capital. The Fund pursues its investment objectives by investing primarily in a portfolio of senior secured floating-rate corporate loans (Senior Loans). Under normal market conditions, at least 80% of the Fund’s managed assets are generally invested in a diversified portfolio of Senior Loans. It is anticipated that at least 80% of the Fund’s managed assets are invested in lower grade debt instruments, although from time to time all of the Fund’s managed assets may be invested in such lower grade debt instruments. The Fund invests in a range of sectors, including software; insurance; media; health care technology; hotels, restaurants and leisure, and others. The Fund’s investment advisor is First Trust Advisors L.P.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
