NASA cancels launch of Artemis I moon rocket on engine trouble

Aug. 29, 2022 9:27 AM ETThe Boeing Company (BA)LMT, NOC, AJRD, JBy: Rob Williams, SA NY15 Comments

NASA Prepares To Launch Artemis Rocket For Moon Mission

Joe Raedle/Getty Images News

NASA on Monday called off the launch of the Artemis I mission to the moon because of technical issues with one of its engines, a setback for the agency’s most powerful rocket ever built. The mission will be a major step in a longer-term plan to take astronauts to the moon for the first time since 1972.

The unmanned launch was set to be the first flight of the Space Launch System (SLS), a 322-foot-tall rocket, and the Orion spacecraft that will carry a human crew in future missions to the moon.

Boeing (NYSE:BA), Northrop Grumman (NOC) and Aerojet Rocketdyne Holdings (AJRD) worked together on parts of the SLS rocket. Lockheed Martin (LMT) led the development of Orion.

The European Space Agency, Jacobs Engineering Group (J) and the United Launch Alliance, a joint venture between Lockheed and Boeing, also participated in building the spacecraft.

The next possible launch date for the Artemis rocket is Sept. 2.

Seeking Alpha contributor Valuentum rates Lockheed as a Strong Buy on potential dividend growth.

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