Elbit Systems Shares Hit 52-Week High After Contract for Iron Beam Defense System

Dow Jones10-29

By Chris Wack

Elbit Systems shares hit their 52-week high after the company said it was awarded a contract by Israel to supply high-power laser systems for its Iron Beam air defense system.

Shares of the Israeli defense-technology company traded as high as $229.70 earlier in the session, and are up 9% to $228.73 in Monday afternoon trading.

Under the $200 million contract, Elbit Systems will supply the Israeli Ministry of Defense its high-power laser solution, developed by the company to provide a defense against a variety of threats. The contract includes ongoing support services.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 28, 2024 13:06 ET (17:06 GMT)

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