Tag: Aerospace and Defense

Swedish defence equipment maker Saab expects to report 2024 organic sales growth of 23.4%, it said on Friday, above its previous outlook at the upper end of a 15-20% range.

Boeing is conducting more surprise inspections at its factories as part of a broader plan to prevent manufacturing snafus like the one that led to a jet-panel blowout on an Alaska Air flight a year ago. 

The Federal Aviation Administration’s tougher oversight of Boeing will continue indefinitely, the agency’s outgoing head said on Friday, nearly a year after a door panel missing four key bolts flew off a new Alaska Airlines 737 MAX 9 in mid-air.

Boeing shares fell sharply on Monday morning after South Korea’s acting president Choi Sang-mok ordered an emergency inspection of the country’s entire airline operations in the wake of the Jeju Air plane crash on Sunday that killed 179 people. 

Taiwan’s China Airlines Ltd. will order two dozen Boeing Co. and Airbus SE long-range passenger and air cargo jets as it seeks to renew its fleet of older planes.

Palantir Technologies, the artificial intelligence-software company whose biggest customer is the U.S. government, won new contracts with the Army worth up to $619 million. Shares are rising.

Honeywell said on Monday it was considering a plan to separate its high-margin aerospace business, a move backed by activist investor Elliott Investment Management, which has been pushing for the company’s breakup.

Honeywell said on Friday it would sell its personal protective equipment business to Protective Industrial Products for about $1.33 billion in cash.

AeroVironment will buy space and defense engineering company BlueHalo in an all-stock deal valued at about $4.1 billion, the companies said on Tuesday, as the drone maker seeks to broaden its portfolio amid rising geopolitical tensions.

Boeing will lay off more than 2,500 workers in the U.S. states of Washington, Oregon, South Carolina and Missouri, according to federally required filings posted on Monday and a union official, as part of the debt-heavy U.S. planemaker’s plan to cut 17,000 jobs, or 10% of its global workforce.

Shares of Palantir Technologies were higher in premarket trading Friday after the company said that it will transfer its stock to the Nasdaq Global Select Market. Shares rose 3.2% ahead of the morning bell to $61.10.

Intuitive Machines, Inc. reported third-quarter revenue that surpassed analyst expectations, while narrowing its full-year 2024 revenue guidance. The space exploration company’s stock edged up 0.85% following the results.

Rocket Lab shares jumped in post-market trading after the company reported third-quarter results and announced its first customer for its coming Neutron vehicle.

Bombardier’s third-quarter revenue beat analysts’ estimates on Thursday, helped by strong demand for business jet parts and repairs.

NATO chief Mark Rutte congratulated Donald Trump on Wednesday for being elected president of the United States, and emphasised that members were increasing their military spending, a response to a persistent Trump criticism of the Western alliance.

Boeing has finally reached a deal with union employees to end a damaging strike, allowing the focus to shift to other significant issues, such as making more planes.

Palantir Technologies stock was climbing after the software company posted better-than-expected third-quarter financials and increased its guidance for the year. One analyst is concerned about where the beat came from

Boeing rose 2% before the bell on Friday after the U.S. planemaker bumped its wage hike offer to about 33,000 striking workers, its latest effort to end a damaging strike after two earlier contract offers were rebuffed by employees.

Boeing is selling stock to help repair its ailing balance sheet. Shares were up, a little, shortly after the announcement.

French jet engine maker Safran raised its profit forecast for the year even as supply bottlenecks forced it to lower its revenue predictions on Friday, buoyed by demand for profitable services on planes that are already flying.