With Aerojet, he’s picking up a key U.S. supplier of propulsion systems for missiles, rockets and other space and defense applications. Another uncertainty is the reaction of competitors, such as Boeing Co. and Raytheon Technologies Corp., that rely on Aerojet’s motors for their own hypersonics and missile products. Aerojet shares soared $10.73, or 25.5%, to $52.77. Lockheed shares slipped $6.68, or 1.8%, to $349.35, leaving the world’s largest defense contractor with a market value of nearly $98 billion. Aerojet shares had declined 7.9% this year through Dec. 18 while Lockheed had dropped 8.6%.

Source: Los Angeles Times December 21, 2020 19:08 UTC