Tag: Aerospace and Defense

Abu Dhabi’s Etihad Airways is gearing up for a potential Initial Public Offering after increasing revenue in 2023 on the back of a 40% boost in passenger numbers.

Vista Outdoor Inc.’s stock fell slightly early Monday, after the maker of sports and outdoor products including ammunition said its board has rejected an unsolicited bid from MNC Capital offering to acquire the company for $35 a share in cash.

General Electric will split into two companies in early April—a jet engine business called GE Aerospace and a power generation business called GE Vernova.

Taser maker Axon Enterprise (AXON.O), on Tuesday forecast full-year revenue ahead of Wall Street estimates, banking on strong demand for its software products and recently launched Taser 10.

Britain’s BAE Systems forecast slower earnings growth in 2024 after a 14% jump last year, when the defence company’s order backlog swelled to a record level driven by new submarine contracts and demand linked to Ukraine.

Boeing  stock was falling after the company discovered new problems with its 737 MAX fuselages and will have to delay the delivery of 50 planes to work on them.

Sales of U.S. military equipment to foreign governments in 2023 rose 16% to a record $238 billion, the U.S. State Department said on Monday, as countries sought to replenish stocks sent to Ukraine and prepare for major conflicts.

Rheinmetall said it has received an order to supply components for the production of Fuchs 2 wheeled armored vehicles to an undisclosed partner.

 L3Harris, opens new tab beat estimates for fourth-quarter profit on Thursday, benefiting from higher weapons demand and increased global defense spending amid escalating security concerns.

General Dynamics beat Wall Street expectations for fourth-quarter revenue on Wednesday, as a tense global political climate sustained demand for its military equipment even as supply-chain pressures drove up costs.

Textron forecast 2024 profit above analysts’ estimates on Wednesday as the U.S. Army continues to replace Black Hawk helicopters with aircraft made by its Bell unit.

General Electric reported better-than-expected fourth-quarter earnings, but Its stock was falling in early trading.

Lockheed Martin stock is stuck despite rising global threats creating demand for its fighter planes. The 2024 outlook offered on Tuesday should keep things just as they are for shares—stable—whether investors like it or not.

RTX  reported better-than-expected fourth-quarter earnings and gave solid guidance for 2024. The stock was up in early trading.

Boeing stock was falling Monday after the Federal Aviation Administration said that more door plugs—on a different version of the 737—should be inspected after one of the plugs blew out of a 737 MAX 9 jet operated by Alaska Air Group earlier this month.

Airplane maker Boeing got an order for an additional 150 737 MAX jets on Thursday. It could be seen as a vote of confidence in the company after a door plug blew out of an aircraft earlier this month.

Alaska Airlines  said on Wednesday it would cancel all flights on 737 MAX 9 jets through Saturday as it continues to wait for regulatory approvals to resume flying after a cabin panel blowout Boeing suggested was caused by a “quality” issue.

Boeing stock declined 0.8% to $227.20 in premarket trading. Spirit AeroSystems , which supplies fuselages to Boeing, slipped 0.4% after falling 11% on Monday. Alaska Air shares were down 1.1%. United Airlines rose 1.1%.

Shares of Boeing tumbled roughly 8% in premarket trading Monday, as investors digested the news that the Federal Aviation Administration had ordered airlines to ground dozens of Boeing 737 Max 9 aircraft for urgent inspections.

 All Boeing 737 MAX jets operated by Chinese carriers are back in service at the end of 2023, the U.S. planemaker’s China head said on Friday, nearly a year after they started returning following a global grounding in 2019.