Tag: Aerospace and Defense

Boeing’s long-awaited announcement that it will buy back its struggling supplier, Spirit AeroSystems, now shifts the focus of investors to the planemaker’s search for a new CEO.

Boeing (BA.N), opens new tab agreed to buy back Spirit AeroSystems (SPR.N), opens new tab for $4.7 billion in stock and Airbus moved to take on the supplier’s loss-making Europe-focused activities in return for hundreds of millions of dollars of compensation following months of talks.

The National Transportation Safety Board warned Boeing on Thursday it could lose its status as a party to the probe into a 737 MAX mid-air blowout after it violated rules by providing non-public information to media and speculating about possible causes.

Shares in Airbus fell by close to 11% on Tuesday after the company said it was cutting its targets for 2024, including aircraft deliveries and earnings.

Shares of Boeing ’s fuselage supplier, Spirit AeroSystems, were rising early Friday as a long process appears to be nearing an end.

China has imposed sanctions against some Lockheed Martin Corp subsidiaries and senior executives over U.S. arms sales to Taiwan, China’s foreign ministry said in a statement.

GE Aerospace is developing a hybrid electric engine with the hopes it will power next-generation narrow-body jets by the middle of the next decade.

U.S. senators on Tuesday attacked the CEO of Boeing for the planemaker’s tarnished safety record, overshadowing his apology to families who lost loved ones in two 737 MAX crashes and acceptance of responsibility after a January mid-air emergency.

Boeing CEO Dave Calhoun will testify before a Senate panel on Tuesday about the company’s safety and manufacturing crises after a door panel blew out of a nearly new 737 Max 9 jet in January.

Boeing stock is wobbling, a little, after it disclosed a new quality problem with its 787 Dreamliner jets.

Vista Outdoor disclosed a more than $2 billion offer for its sporting-goods business, the latest development in the continuing bidding war and rejected MNC Capital’s latest proposal.

The German army intends to order 200,000 more artillery shells from armsmaker Rheinmetall than it had planned, a letter seen by Reuters on Tuesday from the Defence Ministry to parliament’s budget committee.

Vista Outdoor once again rejected a bid from MNC Capital and further recommended a deal between Vista and Czechoslovak Group.

Italian shipbuilder Fincantieri is set to buy Leonardo’s submarine business, known as Whitehead Alenia Sistemi Subacquei (WASS), in a deal expected to be announced later on Thursday, two sources close to the situation said.

Leonardo shares edged higher Wednesday after the Italian aerospace-and-defense group posted orders and earnings above analysts’ expectations for the first quarter, led by growth at its core defense electronics and security business as geopolitical tensions persist.

Palantir shares fell as much as 7% in extended trading on Monday after the defense-technology firm reported weaker-than-expected guidance.

Huntington Ingalls reported a better-than-expected quarterly earnings on Thursday, on the back of demand for aircraft carriers, amphibious assault ships and submarines amid high geopolitical tension.

Turkish Airlines is negotiating with both Airbus and Boeing about buying 235 aircraft as part of its expansion plans, Chairman Ahmet Bolat said on Monday.

Boeing reported a narrower loss and lower cash burn than analysts feared.

GE Aerospace reported a confusing quarter Tuesday morning that still included results from GE Vernova.