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Actionable news in EAC: Erickson Air-Crane Incorporated,

Erickson (EAC) Stock Soars on U.S. Navy Contracts

NEW YORK (TheStreet) -- Erickson (EAC) stock is gaining 105.45% to $1.13 on heavy trading volume on Tuesday afternoon after the aviation services provider was awarded two five-year agreements with the U.S. Navy.

The Portland, OR-based company will provide vertical replenishment and rotary-wing logistic services to the Military Sealift Command, which will support the Navy's 5th and 7th Fleets.

The contracts, which are valued at about $70 million, were originally awarded last February, but the company was waiting for the resolution of protests was...