AeroVironment Shares Rise as Protest of Army Contract Denied

Dow Jones12-16

By Colin Kellaher

AeroVironment shares were sharply higher Monday after the drone and missile maker said a competitor's protest of an Army contract potentially worth nearly $1 billion has been denied.

AeroVironment, which in August announced the five-year contract with a ceiling value of $990 million to provide Switchblade "suicide" drones to the Army, said the U.S. Government Accountability Office denied the protest, which was filed by privately held Mistral in early September.

Shares of the Arlington, Va., company were recently up 7.1% at $167.66.

In late September, despite the then-pending protest, the Army lifted a stop-work order it had issued on the contract, allowing AeroVironment to proceed with fulfilling a $128 million delivery order issued under the agreement.

AeroVironment said Monday it intends to fulfill its obligations under the contract and any delivery orders issued throughout the term of the agreement.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 16, 2024 10:38 ET (15:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2491661385?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-16 23:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2491661385","market":"sg","top_or_hot":-1,"title":"AeroVironment Shares Rise as Protest of Army Contract Denied","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  AeroVironment shares were sharply higher Monday after the drone and missile maker said a competitor's protest of an Army contract potentially worth nearly $1 billion has been denied. \n</p>\n<p>\n  AeroVironment, which in August announced the five-year contract with a ceiling value of $990 million to provide Switchblade \"suicide\" drones to the Army, said the U.S. Government Accountability Office denied the protest, which was filed by privately held Mistral in early September. \n</p>\n<p>\n  Shares of the Arlington, Va., company were recently up 7.1% at $167.66. \n</p>\n<p>\n  In late September, despite the then-pending protest, the Army lifted a stop-work order it had issued on the contract, allowing AeroVironment to proceed with fulfilling a $128 million delivery order issued under the agreement. \n</p>\n<p>\n  AeroVironment said Monday it intends to fulfill its obligations under the contract and any delivery orders issued throughout the term of the agreement. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 10:38 ET (15:38 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AeroVironment Shares Rise as Protest of Army Contract Denied</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAeroVironment Shares Rise as Protest of Army Contract Denied\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-16 23:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Colin Kellaher \n\n\n \n\n\n  AeroVironment shares were sharply higher Monday after the drone and missile maker said a competitor's protest of an Army contract potentially worth nearly $1 billion has ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4187","symbol_name":"航天航空与国防","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2491661385","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491661385","pubTimestamp":1734363480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"AeroVironment shares were sharply higher Monday after the drone and missile maker said a competitor's protest of an Army contract potentially worth nearly $1 billion has been denied.AeroVironment, which in August announced the five-year contract with a ceiling value of $990 million to provide Switchblade \"suicide\" drones to the Army, said the U.S. Government Accountability Office denied the protest, which was filed by privately held Mistral in early September.Shares of the Arlington, Va., company were recently up 7.1% at $167.66.In late September, despite the then-pending protest, the Army lifted a stop-work order it had issued on the contract, allowing AeroVironment to proceed with fulfilling a $128 million delivery order issued under the agreement.AeroVironment said Monday it intends to fulfill its obligations under the contract and any delivery orders issued throughout the term of the agreement.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4187":"航天航空与国防","AVAV":"AeroVironment公司"},"translate_title":"由于抗议陆军合同被拒绝，AeroVironment股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVAV":1},"content_text":"By Colin Kellaher \n\n\n \n\n\n  AeroVironment shares were sharply higher Monday after the drone and missile maker said a competitor's protest of an Army contract potentially worth nearly $1 billion has been denied. \n\n\n  AeroVironment, which in August announced the five-year contract with a ceiling value of $990 million to provide Switchblade \"suicide\" drones to the Army, said the U.S. Government Accountability Office denied the protest, which was filed by privately held Mistral in early September. \n\n\n  Shares of the Arlington, Va., company were recently up 7.1% at $167.66. \n\n\n  In late September, despite the then-pending protest, the Army lifted a stop-work order it had issued on the contract, allowing AeroVironment to proceed with fulfilling a $128 million delivery order issued under the agreement. \n\n\n  AeroVironment said Monday it intends to fulfill its obligations under the contract and any delivery orders issued throughout the term of the agreement. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2024 10:38 ET (15:38 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491661385"}