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-0.000234610985659357 0.000733159330185636 0.00145165547376757 0.000850464823015398 -0.000667468254200989 -0.00231678348338667 -0.00774216252676028 -0.0031085955599871
Stock impact report

Pentagon's $1B stake to shake up defense industry, CEO say [Yahoo! Finance]

L3Harris Technologies, Inc. (LHX) 
Last l3harris technologies, inc. earnings: 2/4 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
The Pentagon's proposed investment will separate L3Harris' rocket business and give it new shareholder money to speed up replenishment of national missile reserves that have been depleted by transfers to Israel and Ukraine. The move follows Trump's criticism of defense contractors for slow production and stock buybacks. “Instead of buying back our stock, we bought Aerojet Rocketdyne,” L3Harris CEO Chris Kubasik told Semafor, referring to the 2023 acquisition that formed the basis of the rocket business. Kubasik sees this as the first step toward shaking up an industry long plagued by oligopolistic hangovers and kicking off a new wave of dealmaking. Fifty-one contractors in the 1990s consolidated into five at the urging of the Clinton administration, which was keen to move on from the Cold War. “It all goes back to the Last Supper in '93 ,” he said, referring to the Pentagon dinner that set off a wave of mergers. “The consolidation went too far.” L3Harris, itself formed by a 2019 Show less Read more
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