Market Chatter: Elbit Systems Close to Developing Laser to Destroy Aerial Threats

MT Newswires Live03-18

Elbit Systems (ESLT) is close to completing the development of a laser system to shoot down aerial threats, such as incoming missiles and drones, Bloomberg reported Wednesday.

Chief Executive Bezhalel Machlis said the program is "way beyond" its early phase, according to Bloomberg.

Elbit Systems didn't immediately respond to a request for comment from MT Newswires.

Shares of the Israeli defense contractor were down 4% pre-bell.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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