Christopher Bayliss • 11 Comments
Dec. 3, 2015, 6:53 PM
- Bad weather scrubbed a launch by Orbital ATK (OA -2.5%), in what would be a resumption of cargo runs to the International Space Station slightly more than a year after an Antares rocket exploded just after liftoff.
- The company had to skip a launch window at 5:55 p.m. today, and reset for an opportunity at 5:33 p.m. Friday.
- The launch planned to take an Orbital Cygnus craft on top of an Atlas 5 rocket, carrying 7,700 pounds of food, clothing, supplies and experiments (including a modular satellite kit and a pair of Microsoft HoloLens headsets).
- Orbital had elected to go with the Atlas rockets, made by United Launch Alliance (BA, LMT), after the failure of a refurbished Soviet-era motor sold by Aerojet Rocketdyne (NYSE:AJRD) for the Antares.
- Orbital is competing against SpaceX and Sierra Nevada for follow-on cargo delivery contracts expected to be awarded next month.
- Previously: Boeing dropped from NASA's space station cargo flight competition (Nov. 05 2015)
- Previously: In setback for Aerojet Rocketdyne, ULA picks Orbital ATK motors (Sep. 22 2015)
Nov. 23, 2015, 6:41 PM
- Aerojet Rocketdyne (NYSE:AJRD) +4.6% AH after saying it landed two contracts related to manned space travel worth nearly $1.4B.
- AJRD was awarded a $1.16B contract by NASA to restart production of the RS-25 main engine for the space shuttle, which will be used as a launch motor for deep space missions to Mars; the Mars launches will use four RS-25 motors in a single launch, with an unprecedented lift capacity of up to 130 metric tons.
- Separately, AJRD signed a contract with Boeing (NYSE:BA) valued at nearly $200M for a propulsion system for the Starliner crew module for getting U.S. astronauts to the International Space Station.
Sep. 25, 2015, 10:58 AM
- Aerojet Rocketdyne (AJRD -1.5%) is considering raising its $2B offer for United Launch Alliance, a rocket launch venture of Boeing (BA +0.4%) and Lockheed Martin (LMT -0.3%), but faces big hurdles after a rejection of the bid last week, Reuters reports.
- AJRD faces an uphill climb given growing tensions between the two companies over the past few years, according to the report; earlier this week, ULA dumped AJRD as its solid rocket motor supplier and signed a long-term deal with its rival Orbital ATK (OA -0.5%).
- An AJRD takeover of ULA also would require Russia to give its regulatory approval and transfer a technology license for use of the Russian RD-180 engine that powers ULA's Atlas V rocket, the report says.
- Analysts have questioned how AJRD could raise the money for the deal, and even whether is worth $2B given the changing space market.
Apr. 10, 2015, 12:45 PM
Oct. 29, 2014, 12:24 PM
- Alliant Techsystems (ATK -4.6%) says it is evaluating previously announced plans to merge its aerospace and defense businesses with Orbital Sciences (ORB -16%) following last night's explosion of a rocket carrying supplies for the international space station.
- Analysts at RBC Capital say a likely cause of the explosion is the AJ-26 main engine, which are decades-old NK-33 Russian rocket engines that have been refurbished by a division of GenCorp (GY -7.1%); RBC says one of the AJ-26 engines in fact exploded this May during testing.
- Stifel analysts say that while ORB’s launch insurance should cover losses, they expect additional work at ORB to be slowed while the cause is investigated; the firm thinks a 16% selloff would appear to price-in the near-term worst case and would be buyers below $28.
Jun. 18, 2013, 3:14 PMParis Air Show: Gencorp's (GY +4.5%) Aerojet Rocketdyne unit says it's expanded an accord with Russian Experimental Design Bureau Fakel, obtaining the right to market and sell the Russian company's low-power Hall thrusters in the U.S. market. No financial details were given. | Jun. 18, 2013, 3:14 PM
Mar. 21, 2013, 3:14 PM
GenCorp (GY +3.7%) trades up today after Oppenheimer intiated the shares with an Outperform and a $20 price target this morning. Oppenheimer says the stock has one of the more favorable growth profiles in the defense industry, and with an impressive 2014E 24% FCF yield ex-land, a highly valued land bank and a company-transforming acquisition about to close, it's attractive at current levels.| Mar. 21, 2013, 3:14 PM
Feb. 12, 2013, 9:10 AM
Oct. 1, 2012, 3:42 PM
Brookfield Residential (BRP +5.3%) shoots higher after a positive presentation from Mick McGuire at the Value Investing Congress. BRP boasts 30 years' worth of undervalued property, says Marcato Capital's McGuire; he also likes Alexander & Baldwin (ALEX -2.4%) and GenCorp (GY +3.4%) on the basis of their undervalued real estate assets.| Oct. 1, 2012, 3:42 PM | 1 Comment
Sep. 30, 2011, 1:57 PM
GenCorp (GY +10%) pops after missing Q3 EPS estimates by $0.04 on revenue of $226M (+7.4% Y/Y). Investors seem to be honing in on the healthy backlog of orders the defense contractor reports.| Sep. 30, 2011, 1:57 PM