Tag: Aerospace and Defense

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.

 Boeing is set to restart deliveries of its 787 Dreamliner to China within days, a source told Reuters, a step that could pave the way for China to also end a more than four-year freeze on deliveries of Boeing’s profit-making 737 MAX.

Dec 19 (Reuters) – Lufthansa ordered 80 planes from Boeing and Airbus and agreed future purchasing options for a total value of $9 billion, the German flagship carrier said on Tuesday.

Airbus said on Friday that Turkey’s national carrier Turkish Airlines is set to order an additional 220 of its aircraft.

Dec 12 (Reuters) – Britain’s BAE Systems has won an $8.8 billion contract to maintain and operate a U.S. Army ammunition plant in Tennessee, the U.S. Department of Defense (DoD) said on Tuesday.