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Stock impact report

Australian steelmaker shares soar after AUKUS submarine contract [Yahoo! Finance]

Huntington Ingalls Industries, Inc. (HII) 
Last huntington ingalls industries, inc. earnings: 2/13 07:15 am Check Earnings Report
US:NYSE Investor Relations: ir.huntingtoningalls.com
Company Research Source: Yahoo! Finance
the back of a series of defence deals signed as part of the AUKUS nuclear submarine deal between Australia, Britain and the United States. Defence contractors large and small are looking at the A$368 billion ($237 billion) plan to build Australia a fleet of nuclear-powered submarines as a decades-long source of work. Australia will build the vessels to a British design with U.S. technology. Bisalloy said earlier this month it had signed a deal to sell a shipment of steel to part of U.S. shipbuilder Huntington Ingalls Industries, maker of the U.S. Virginia-class submarine. Shares rose 6.7% on the day and are up just over 10% this month versus a 3.1% decline for the index. Australia will buy up to 5 Virginia-class submarines from its close ally in the 2030s as a stopgap while it builds its new fleet. In mid-December, Bisalloy also announced it had won a contract, worth up to A$15 million, to qualify its steel for use in Australia's AUKUS fleet. Shares are up 44% since the news. Show less Read more
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