AeroVirionment soars on Lockheed UAV partnership

AeroVironment (AVAV +9.3%) and fellow UAV developer Lockheed Martin have signed a deal to "jointly pursue opportunities" for AeroVironment's Global Observer high-altitude/long endurance UAV.

AeroVironment states Lockheed's systems integration expertise gives it the chance to "develop innovative, end-to-end atmospheric satellite systems built around Global Observer that deliver breakthrough capabilities."

AeroVironment has surged to within striking distance of its 52-week high of $31.50. The company's UAV division sales were down 14% Y/Y (albeit up 59% Q/Q) during its October quarter, and accounted for 86% of revenue.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs