2023-10-13 16:41:35 ET
AeroVironment ( NASDAQ: AVAV ) on Friday rose 5.6% to break a three-day losing streak and end the week with a 6.2% gain. Many U.S. defense contractors also rose for the week as investors weighed whether the war between Hamas and Israel would expand in the Middle East.
Before today’s gain, AeroVironment’s ( AVAV ) shares faced selling pressure. The maker of military drones and unmanned systems on Monday was downgraded by analysts at Raymond James. They said AeroVironment ( AVAV ) faced greater uncertainty of U.S. military support for Ukraine amid congressional squabbles over defense spending.
Boeing’s ( NYSE: BA ) stock on Friday fell 3.3% and ended the week with a 1.2% decline. A news report Thursday said the company had expanded inspections of some planes after discovering a manufacturing defect. The report led analysts at Deutsche Bank to cut their estimate of Boeing’s ( BA ) aircraft deliveries for the year.
U.S. Defense Contractors | |
5-day change | |
week ended Oct. 13 | |
AeroVironment ( AVAV ) | 6.2% |
Boeing ( BA ) | -1.2% |
Lockheed Martin ( NYSE: LMT ) | 0.1% |
Huntington Ingalls ( NYSE: HII ) | 11.0% |
General Dynamics ( NYSE: GD ) | 10.5% |
Northrop Grumman ( NYSE: NOC ) | 15.8% |
L3Harris Technologies ( NYSE: LHX ) | 8.2% |
BAE Systems ( OTCPK:BAESF ) ( OTCPK:BAESY ) | 8.9% |
Leidos ( NYSE: LDOS ) | 4.3% |
Honeywell International ( NASDAQ: HON ) | -0.6% |
More on AeroVironment, Boeing, etc.
- AeroVironment: Business Should Continue To Benefit From Ongoing Conflict Around The Globe
- Boeing's Big But Disappointing Month Creates Buy Opportunity
- Boeing Suffers Big Loss On Air France-KLM Blow
- Boeing will deliver fewer planes than previously estimated, Deutsche Bank says
- Boeing, Spirit Aerosystems expand inspections of 737 Max 8 - report
For further details see:
AeroVironment rises 5.6% for weekly gain; Boeing slips