Tag: Aerospace and Defense

Lithuania signed a protocol of intention with Germany’s Rheinmetall on Tuesday to build an ammunition factory in the Baltic state, the country’s government said on Tuesday.

 Lockheed Martin said on Thursday it had won a contract worth up to $4.1 billion from the U.S. government’s Missile Defense Agency to continue the development of its battle command system.

Delta swung to a profit in the first quarter with record sales for the period.

General Electric on Tuesday completed its breakup into three companies, marking the end of an era for the industrial conglomerate pioneer that was once a symbol of American business power.

Czech gunmaker Colt CZ Group said on Tuesday it had sold all its shares in U.S. sporting and outdoor products group Vista Outdoor after a rejected bid last year, as it turned focus to its planned acquisition of another group.

Boeing stock rose after the company announced that CEO Dave Calhoun is stepping down at the end of 2024.

German arms manufacturer Rheinmetall expects record sales and increased profitability this year, as the war in Ukraine drives up defence spending in the NATO bloc in a trend set to buoy the company for years to come, it said on Thursday.

Italy’s Leonardo (LDOF.MI), opens new tab will invest in digitalisation, artificial intelligence and interconnected platforms over the next five years as it focuses on security activities, the defence group said on Tuesday.

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.