iShares U.S. Aerospace & Defense ETF (BATS: ITA)

Ultime notizie per iShares U.S. Aerospace & Defense ETF (BATS:ITA)

iShares U.S. Aerospace & Defense ETF

Industrials

The Fund seeks to track the investment results of the Dow Jones U.S. Select Aerospace & Defense Index; the Underlying Index, which measures the performance of the aerospace and defense sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI.

General Electric Co.

Raytheon Co.

Boeing Co

Lockheed Martin Corp

Howmet Aerospace Inc.

Northrop Grumman Corp.

L3Harris Technologies Inc.

General Dynamics Corp.

Axon Enterprise Inc

Transdigm Group Inc.

iShares US Aerospace & Defense ETF

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FITE

iShares Dow Jones US Aerospace & Defense Index Fund

MISL

NVDA

Morgan Stanley consiglia azioni difensive dopo il crollo del settore IA, suggerendo nuovi investimenti in settori stabili e sicuri.

Morgan Stanley: ecco la nuova scommessa dopo il crollo dell&#39;IA

Sparkline Intangible Value ETF

INDUSTRIAL TECH ACQUISITIONS II INC COM CL A

INDUSTRIAL TECH ACQUISITIONS II INC UNIT 1 COM CL A & 1/2 WT EXP

INDUSTRIAL TECH ACQUISITIONS II INC WT EXP

INDO TAMBANGRAYA UNSP/ADR by PT Indo Tambangraya Megah

PT Indo Tambangraya Megah Tbk

BofA Securities analyst Ronald J. Epstein upgraded L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) to Buy from Neutral and raised the <a target="_blank" href="https://www.benzinga.com/quote/LHX/analyst-ratings" rel="noreferrer noopener">price target to $300 from $240</a>.
The analyst writes that L3Harris introduced its transformation initiative, &#8220;LHX Next,&#8221; which he initially viewed with cautious optimism.
However, recent results have reinforced our positive outlook, showing that the streamlined, focused LHX is now better positioned to fulfill its commitments and exceed expectations, says the analyst.
Moreover, Ronald says that the missile and munitions industry consensus is clear: demand is relentless, with a promising outlook extending over the next five years.
LHX is well-positioned to capitalize on this trend, standing out as one of the few companies with solid rocket motor (SRM) production capabilities.
LHX&#8217;s recent wins, including contracts for the Next-Gen Interceptor (NGI) and as the primary provider for the 1st and 3rd stage propulsion on the Glide Phase Interceptor (GPI), underscore the strength and reliability of its products, adds the analyst.
Notably, last week, the company announced a&nbsp;strategic partnership&nbsp;with Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)&nbsp;to combine Palantir&#8217;s Artificial Intelligence Platform with L3Harris&#8217; sensor and <a target="_blank" href="https://www.benzinga.com/news/24/10/41554264/palantir-technologies-stock-reaches-new-52-week-high-whats-going-on" rel="noreferrer noopener">software-defined systems</a>.
The analyst writes that this partnership reflects a forward-thinking and strategic move by LHX, leveraging Palantir&#8217;s enterprise AI-driven data integration to enhance cost efficiency, gain greater supply chain visibility, and enable quicker, more informed decisions.
Additionally, the collaboration supports AI-enabled product development, aligning LHX&#8217;s focus on core capabilities with Palantir&#8217;s software expertise—a combination we view as a strong foundation for future growth, adds the analyst.
The analyst adds that the company surpassed its $400 million run-rate savings target for 2024 and now expects to achieve $600 million by year-end, bolstering confidence in its $1 billion savings target.
Consequently, Ronald raised the estimates, with 2026E free cash flow (FCF) now projected at $2.8 billion and potential for additional upside.
Investors can gain exposure to the stock via XAR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) and iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>).
Price Action: LHX shares are up 0.57% at $246.81 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41555316/l3harris-poised-for-2025-growth-analysts-highlight-q3-earnings-beat-solid-orders-an" target="_blank" rel="noreferrer noopener">L3Harris Poised For 2025 Growth: Analysts Highlight Q3 Earnings Beat, Solid Orders, And Margin Expansion Potential</a></li>
</ul>

Analyst Color

Large Cap

Upgrades

Price Target

Analyst Ratings

Trading Ideas

PLTR

L3Harris And Palantir Collaboration Key To Future Growth, BofA Upgrades Stock

GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Waygate Technologies disclosed the joint development of a <a target="_blank" href="https://www.publicnow.com/view/3C5D8ECEB514B8CBFAAF0DE9A9F66BAB865D3AA1?1730119678#:~:text=To%20ensure%20greater%20reliability%20in,previously%20difficult%20to%20detect%20defects." rel="noreferrer noopener">new</a> AI-assisted commercial engine borescope solution.
This innovative tool will be available to Waygate Technologies&#8217; customers and introduced to GE Aerospace&#8217;s maintenance, repair, and overhaul (MRO) network later this year.
This milestone marks the successful completion of their first development program under the Joint Technology Development Agreement established in May 2023.
In their initial program, GE Aerospace and Waygate Technologies aimed to improve machine vision-based assisted defect recognition (ADR) systems using AI for commercial aviation engine borescope inspections.
The focus was specifically on High Pressure Compressor (HPC) inspections, which are among the most critical and time-consuming tasks in the engine&#8217;s Maintenance, Repair, and Overhaul (MRO) process.
The new solution leverages advanced AI techniques to improve detection rates by about 34% and reduce false alerts by over 13% compared to the previous model.
This AI upgrade will be available in an upcoming software update for the Mentor Visual iQ+ video borescope later this year.
Nicole Jenkins, Chief MRO Engineer, GE Aerospace, said, &#8220;Collaborating with Waygate Technologies, we have successfully combined our industry domain knowledge and digital expertise to integrate new AI techniques with the right data to improve the detection capabilities of commercial engine borescope inspections.&#8221;
&#8220;This joint development illustrates a bigger effort to give our inspection engineers more advanced tools using AI, computer vision, and automation to help them work productively and meet the needs of our customers. We believe this AI-assisted borescope system will help significantly reduce the time it takes to perform HPC inspections, while delivering high accuracy at the same time.&#8221;
Investors can gain exposure to GE via IShares U.S. Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)&nbsp;and TCW Transform Systems ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NETZ#NYSE">NETZ</a>).
Price Action: GE shares are down 1.74% at $175.99 at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41493084/ge-aerospace-and-lilium-join-forces-to-turbocharge-evtol-safety-standards" target="_blank" rel="noreferrer noopener">GE Aerospace And Lilium Join Forces To Turbocharge eVTOL Safety Standards</a></li>
</ul>

Contracts

Engine No. 1 ETF Trust Engine No. 1 Transform Climate ETF

NETZ

GE Aerospace Partners with Waygate Technologies To Elevate Engine Inspections With AI

GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) partnered with Lilium N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LILM#NASDAQ">LILM</a>) to build a solid safety framework for eVTOLs <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41484550/lilium-ge-aerospace-partner-to-deliver-evtol-flight-safety" rel="noreferrer noopener">as they near commercial launch</a>.
As part of this partnership, GE Aerospace and Lilium will develop an OEM-level Flight Data Monitoring (FDM) or Flight Operations Quality Assurance (FOQA) program to oversee eVTOL safety across the entire fleet.
Additionally, the two companies will collaborate to offer a voluntary FDM program option for Lilium&#8217;s customers.
GE&#8217;s Event Measurement System platform will play a key role in Lilium&#8217;s aftermarket program, &#8220;POWER-ON,&#8221; which offers safe, efficient, and customer-focused solutions for Lilium Jet operators.
Through this platform, all Lilium customers will gain access to a suite of digital services designed to support daily operations with essential insights and actionable data.
Notably, eVTOLs are already in flight at dedicated demonstration and testing sites across the U.S., Europe, and Asia, with the first customer deliveries of the Lilium Jet expected in 2026. JP Morgan forecasts the market could reach up to $1 trillion by 2040.
Andrew Coleman, General Manager, GE Aerospace&#8217;s Software as a Service (SaaS) Group said, &#8220;Together with Lilium, a leader in the eVTOL space, we&#8217;re bringing together OEM-level flight data monitoring and quality assurance capabilities of EMS with Lilium&#8217;s eVTOL jet-related analytics platform to establish a robust safety foundation for eVTOL industry that will help to accelerate commercial scale adoption of this exciting new technology.&#8221;
Yesterday, GE Aerospace reported adjusted revenue growth of&nbsp;6%&nbsp;Y/Y to&nbsp;$8.943 billion&nbsp;and GAAP revenue of&nbsp;$9.84 billion. The&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41450452/ge-aerospace-q3-earnings-orders-surge-lifts-earnings-outlook-more" rel="noreferrer noopener">analyst consensus was&nbsp;$9.022 billion</a>.
Investors can gain exposure to GE via IShares U.S. Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)&nbsp;and TCW Transform Systems ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NETZ#NYSE">NETZ</a>).
Price Action: GE stock was up 4.1% at $184.03 and LILM was up 5.44% at $0.5040 at the last check Wednesday.
Photo via Midjourney
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41462917/ge-aerospaces-q3-results-solid-but-segments-tell-different-stories-analyst" target="_blank" rel="noreferrer noopener">GE Aerospace&#8217;s Q3 Results Solid, But Segments Tell Different Stories: Analyst</a></li>
</ul>

LILM

GE Aerospace And Lilium Join Forces To Turbocharge eVTOL Safety Standards

Goldman Sachs analyst Noah Poponak expresses their view on GE Aerospace&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) <a target="_blank" href="https://www.benzinga.com/quote/GE/analyst-ratings" rel="noreferrer noopener">third-quarter 2024 results</a>.
The company reported&nbsp;adjusted revenue growth of 6% Y/Y to $8.943 billion and GAAP revenue of $9.84 billion. The <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41450452/ge-aerospace-q3-earnings-orders-surge-lifts-earnings-outlook-more" rel="noreferrer noopener">analyst consensus was $9.022 billion</a>.
GE still expects adjusted revenue growth in the high single digits. It now sees adjusted EPS of $4.20 – $4.35 (prior $3.95 – $4.20) <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">vs. the $4.25 consensus</a>.
The company now expects adjusted operating profit of $6.7 billion – $6.9 billion (prior $6.5 billion – $6.8 billion) and adjusted free cash flow of $5.6 billion – $5.8 billion (prior $5.3 billion – $5.6 billion).
The analyst writes that GE&#8217;s results are solid overall but mixed by segment. Market expectations were high, and segment EBIT fell short of consensus.
While commercial engines remain a key growth driver, the analyst says the defense segment underperformed due to lower revenue and margins.
Goldman Sachs rated the company &#8216;Buy&#8217;, with a price target of $201. The analyst expects EPS of $4.12 for FY24, $5.16 for FY25, and $6.30 for FY26.
Investors can gain exposure to the stock via IShares U.S. Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)&nbsp;and TCW Transform Systems ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NETZ#NYSE">NETZ</a>).
Price Action: GE shares are down 8.69% at $177.36 at the last check Tuesday.
Photo by Ground Picture on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41447996/us-stocks-remains-on-edge-ahead-of-flurry-of-earnings-from-lockheed-martin-gm-and-others-this-is-st" target="_blank" rel="noreferrer noopener">US Stocks Remains On Edge Ahead Of Flurry Of Earnings From Lockheed Martin, GM And Others: This Is Still A &#8216;Buy The Dip&#8217; Market, Says Expert</a></li>
</ul>

Earnings

Reiteration

Movers

GE Aerospace's Q3 Results Solid, But Segments Tell Different Stories: Analyst

The Israeli military confirmed on Thursday <a href="https://www.benzinga.com/markets/asia/24/10/41385179/hamas-chief-oct-7-mastermind-yahya-sinwar-possibly-dead-idf-conducts-dna-tests-after-gaza-clash">the death of Yahya Sinwar</a>, the top leader of Hamas, with one word: &#8220;Eliminated.&#8221; 
What Happened: Israel Defense Forces killed Sinwar — Israel's most wanted target since the war with Hamas began on Oct. 7 — in a firefight in Gaza.
Sinwar orchestrated an assault that killed about 1,200 people and led to the abduction of over 200 others.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Eliminated: Yahya Sinwar.
&mdash; Israel Defense Forces (@IDF) <a href="https://twitter.com/IDF/status/1846957737487278263?ref_src=twsrc%5Etfw">October 17, 2024</a></blockquote>
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In a prepared <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/10/17/statement-from-president-joe-biden-on-the-death-of-yahya-sinwar/">statement</a>, President Joe Biden said the IDF &#8220;relentlessly pursued Hamas's leaders&#8221; with the help of U.S. intelligence.
&#8220;There has rarely been a military campaign like this, with Hamas leaders living and moving through hundreds of miles of tunnels, organized in multiple stories underground, determined to protect themselves with no care for the civilians suffering above ground,&#8221; Biden said. 
&#8220;Today, however, proves once again that no terrorists anywhere in the world can escape justice, no matter how long it takes.&#8221;
Sinwar's body was retrieved after an exchange of fire on Wednesday, according to the <a href="https://www.nytimes.com/live/2024/10/17/world/israel-lebanon-iran-gaza-news?campaign_id=190&amp;emc=edit_ufn_20241017&amp;instance_id=137113&amp;nl=from-the-times&amp;regi_id=136109156&amp;segment_id=180692&amp;user_id=e415429009fa21c5b8b4141c24d72bca">New York Times</a>, citing Israeli authorities. His identity was verified using dental records and fingerprints that matched those on file, Israel Police said. There was no immediate response from Hamas regarding his death.
See Also: <a href="https://www.benzinga.com/news/24/10/41112728/us-boosts-military-presence-in-middle-east-deploys-fighter-squadrons-amid-rising-tensions-with-iran">US Boosts Military Presence In Middle East As Tensions Spike With Iran</a> 
Why It Matters: Sinwar's killing marks a significant development in the yearlong conflict. 
So far, the war in Gaza devastated the region and its people. Despite being only 141 square miles, Gaza is home to over 2 million people. 
Gaza's health ministry reports over 41,000 deaths. Per the Associated Press, Gaza's health ministry <a href="https://apnews.com/article/israel-hamas-war-gaza-health-ministry-health-death-toll-59470820308b31f1faf73c703400b033">doesn't distinguish between civilians and combatants</a>. About 1.9 million Palestinians have been <a href="https://apnews.com/article/israel-palestinians-hamas-war-anniversary-statistics-e61765035c725b3c8d4840e2bab565cd">displaced</a>.
Sinwar&#8217;s death also presents an &#8220;opportunity&#8221; to proceed with negotiations between Israel and Hamas and end the war, Vice President Kamala Harris said, per <a href="https://www.bloomberg.com/news/articles/2024-10-17/harris-says-sinwar-s-death-offers-opportunity-to-end-gaza-war?srnd=phx-latest&amp;sref=TBDibEcD&amp;embedded-checkout=true">Bloomberg</a>. 
Both sides remain deadlocked over key issues. 
Israeli Prime Minister Benjamin Netanyahu addressed the nation and promised the Israeli military would secure the release of all hostages. See below for coverage via CNN.
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Defense exchange-traded funds (ETFs) at last check Thursday afternoon, were trending up with the exception of the SPDR S&amp;P Aerospace &amp; Defense ETF:
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 1.8% to $154.70.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) is up 0.17% to $119.</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) is down 0.29% to $162.77.</li>
</ul>
Oil ETFs: 
<ul>
<li>The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), was up 0.15% at $72.51.</li>
<li>The VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) was down 0.25% at $286.69.</li>
</ul>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41336413/oil-prices-take-largest-plunge-in-over-a-year-as-israel-vows-to-spare-iranian-facilities-energy-stoc">Oil Prices Take Largest Plunge In Over A Year As Israel Vows To Spare Iranian Facilities</a></li>
</ul>
Image: Shutterstock.

Sector ETFs

Politics

Global

Israeli Military, With Help Of US Intelligence, 'Relentlessly Pursued' Deceased Hamas Leader

The United States has issued a stark warning to Israel, urging the government to take swift and meaningful steps within the next 30 days to address the deteriorating <a href="https://www.benzinga.com/topic/middle-east">humanitarian conditions in Gaza. </a>
Failure to act could result in potential restrictions on U.S. military aid, marking the strongest message sent by the Biden administration since the Israeli military offensive against Hamas began more than a year ago.
According to U.S. officials, Secretary of State Antony Blinken and Defense Secretary Lloyd Austin conveyed their concerns in a letter sent to Israeli officials on Sunday. The letter emphasized the urgent need for Israel to act, outlining specific measures that must be undertaken to alleviate the suffering of civilians in Gaza.
<h3 class="wp-block-heading">Key Points From US Letter: Aid, Humanitarian Action Required</h3>
The letter highlighted several steps that Israel must take to reverse the worsening situation in Gaza:
<ul>
<li>Increase humanitarian aid access: Israel must allow a minimum of 350 aid trucks to enter Gaza daily. This would involve opening additional border crossings and ensuring the smooth flow of essential goods, such as food and medical supplies.</li>
<li>Ensure humanitarian pauses: Israel is urged to institute pauses in military operations to facilitate aid deliveries, vaccinations, and the movement of displaced civilians.</li>
<li>End forced evacuations: The U.S. specifically called for an end to forced evacuations of civilians in northern Gaza, allowing humanitarian organizations to access the area safely.</li>
</ul>
Failure to demonstrate progress on these measures, the U.S. warned, could have &#8220;serious implications&#8221; for Israel&#8217;s military aid under relevant U.S. laws.
The letter from Blinken and Austin said the U.S. government is particularly concerned about Israeli policies that could further limit the operations of humanitarian organizations like the United Nations Relief and Works Agency (UNRWA).
The U.S. has set a clear deadline for Israel to demonstrate its commitment to improving the situation in Gaza. This 30-day window will be crucial in determining the future of U.S. military aid to Israel.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8;&#x1f1fa;&#x1f1f8;&#x1f1ee;&#x1f1f1;Secretary of State Blinken &amp; Secretary of Defense Austin sent a letter on Monday to Israel demanding it takes steps within 30 days to improve the humanitarian situation in Gaza in order to avoid consequences in U.S. law for U.S. milirary aid to Israel. See letter here: <a href="https://t.co/N9DDMqsL7u">pic.twitter.com/N9DDMqsL7u</a>
&mdash; Barak Ravid (@BarakRavid) <a href="https://twitter.com/BarakRavid/status/1846182689222664471?ref_src=twsrc%5Etfw">October 15, 2024</a></blockquote>
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<h3 class="wp-block-heading">Market Reactions: U.S. Defense Stocks Slip, Israel ETFs Rise</h3>
On Tuesday, the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) saw a slight decline of 0.5%, after hitting record highs earlier in the session.
Conversely, the VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) rose by 0.5%, marking its sixth consecutive session of gains.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41340645/stock-of-the-day-goldman-sachs-blows-away-earnings-but-stock-may-be-due-for-a-pullback">Stock Of The Day: Goldman Sachs Blows Away Earnings, But Stock May Be Due For A Pullback</a></li>
</ul>
Photo: Shutterstock

Mid Cap

ETFs

ISRA

Defense Stocks Slip From Record Highs: US Says Military Aid To Israel Hangs On Gaza Humanitarian Conditions

Defense and aerospace stocks, as tracked by the iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) have returned a remarkable 22% year-to-date in 2024; an aerospace expert weighed in on whether companies can keep up with sky-high valuations <a href="https://www.benzinga.com/markets/commodities/24/10/41150239/investors-look-to-gold-as-middle-east-tensions-rise-how-israel-iran-conflict-could-impact-pri">fueled by tensions</a> in the Middle East.
The Aerospace Analyst: RBC analyst Ken Herbert reiterated Outperform ratings for the following aerospace companies in a note published Monday:
<ul>
<li>Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), lowering its price target from $220 to $200.</li>
<li>General Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), raising its price target from $190 to $210.</li>
<li>General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), maintaining its price target at $320.</li>
<li>Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>), lowering its price target from 180 euros to 160 euros.</li>
</ul>
Industry Takeaways: Herbert noted the industry&#8217;s impressive performance in 2024.
&#8220;Investor sentiment into 3Q24 A&amp;D results is positive on defense stocks, with concerns about near-term incremental upside after the recent strength for many defense stocks. Sentiment seems universally bullish on the aerospace aftermarket, although these stocks appear about as crowded on the long side as we have seen,&#8221; the analyst said. &#8220;We believe the aero OE outlook is uncertain at best.&#8221;
The analyst noted his belief that aerospace valuations will hold in the near-to-mid term.
Boeing Takeaways: Herbert says that Boeing&#8217;s current risk-to-reward is favorable.
&#8220;We believe we are ~36 months into what should be a 4-to 5-year order cycle. Granted, the world is different today than it was for any prior cycle, but we expect demand for narrowbody aircraft to remain strong,&#8221; Herbert said.
The analyst believes that the ongoing labor strike at Boeing will be resolved before it releases its third-quarter earnings.
GE Aero Takeaways: Although Herbert raised General Electric&#8217;s price target, he simultaneously lowered expectations of 2024, 2025 and 2026 LEAP engine deliveries.
&#8220;While we are more cautious on revenue growth, we are raising our estimates for adj operating income and adj. EPS as GE Aero benefits from mix,&#8221; the analyst said. &#8220;We believe the healthy aftermarket demand fundamentals and continued favorable pricing on spare parts will offset downside risk to new LEAP deliveries, although investors will likely be focused on execution for this program.&#8221;
Herbert believes that the bear case for GE is &#8220;fading&#8221; amid efforts to derisk its balance sheet.
General Dynamics Takeaways: Herbert&#8217;s lowering of General Dynamics&#8217; price target comes amid pessimism in Gulfstream delivery estimates. The analyst sees headwinds ahead in delivering its G700 aircraft.
Herbert is still bullish on the company, with a perceived upside amid the continuing war in Ukraine.
Airbus Takeaways: The analyst&#8217;s lowered price target is attributed to lower delivery estimates in the near term. He believes the stock can perform well, even though the company will likely walk back its mid-decade target of 1,000 deliveries.
Herbert sees Airbus&#8217; core strengths as its strong backlog, cash position and margin expansion.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41336413/oil-prices-take-largest-plunge-in-over-a-year-as-israel-vows-to-spare-iranian-facilities-energy-stoc">Oil Prices Take Largest Plunge In Over A Year As Israel Vows To Spare Iranian Facilities: Energy Stocks Sink, Airlines, Cruise Lines Rally</a></li>
</ul>
Photo: Gorodenkoff/Shutterstock.com

European Aeronautic Defence And Space Unsponsored

EADSY

Aerospace Stocks Face Tough Questions: Can Boeing, GE, Airbus Justify Sky-High Valuations?

Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading higher on Tuesday. The company <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000012927/4d8edab4-f0b6-4cec-8b89-5b1f4a655cf8.pdf">inked</a> a $10 billion supplemental credit agreement <a href="https://www.benzinga.com/topic/big-banks">with several big banks</a>.
Bank of America, Citibank, Goldman Sachs, and JPMorgan are on board as joint lead arrangers and bookrunners.
Boeing plans to pay a 0.5% funding fee on each advance under the credit agreement and a 0.50%-1.00% duration fee on outstanding advances after 90 to 270 days.
Non-SOFR loans will accrue interest at the higher of Citibank's base rate, federal funds rate plus 0.50%, or Adjusted Term SOFR plus 1.00%, with an additional 0.375%-1.00%, based on Boeing's credit rating.
SOFR loans will bear interest at Adjusted Term SOFR plus 1.375%-2.00%. Commitments end in 120 days, with advances maturing in 364 days.
The credit agreement limits Boeing's debt to 60% of total capital. It also restricts liens to $250 million, and allows mergers only if Boeing is the surviving entity.
Apart from this, Boeing disclosed a mixed shelf offering of up to $25 billion, which includes Senior and Subordinated Debt Securities, <a target="_blank" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000012927/8cf7f199-191c-4c3e-8056-b2914fea83e1.pdf" rel="noreferrer noopener">Common </a>Stock, and Preferred Stock.
This week, Boeing announced a 10% workforce reduction of approximately 17,000 jobs in <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41319026/boeings-q3-earnings-face-turbulence-strikes-layoffs-safety-woes-ahead" rel="noreferrer noopener">an effort to stem financial losses</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Gabelli Commercial Aerospace and Defense ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are up 0.95% at $150.40 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41326434/boeing-employee-strike-enters-second-month-costing-airplane-maker-nearly-5b-the-stock-is-down-ov" target="_blank" rel="noreferrer noopener">Boeing Employee Strike Enters Second Month, Costing Airplane Maker Nearly $5B: The Stock Is Down Over 4% As Operational Halts And Mounting Losses Impact Market Valuation</a></li>
</ul>
Image: Shutterstock

GCAD

Boeing Shares Jump As Troubled Aerospace Company Inks $10B Supplemental Credit Agreement With Big Banks

United Nations Security Council members convened for an emergency session Wednesday in New York to address Israel, Lebanon, Iran and whether an all-out war in the <a href="https://www.benzinga.com/topic/middle-east">Middle East is preventable</a>.
What Happened: Israeli Ambassador Danny Danon, in his remarks to the UN Security Council, called Iran&#8217;s missile strike the <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">&#8220;largest&#8221; in Israel&#8217;s history</a>. 
&#8220;The council must understand the situation Israel is forced to live in. We are under attack,&#8221; Danon said, citing how holy sites were targeted. 
Israeli defense systems intercepted most of the 200 missiles Tuesday as they prepped for ground operations, the <a href="https://apnews.com/live/israel-lebanon-ground-operation-updates">Associated Press</a> reported.
&#8220;The world watched silently as Iran funded and directed attacks against us for the past year, arming and training their proxies for decades,&#8221; Danon added. &#8220;Now the world must step up. Iran must pay a heavy price for this attack. Anything less is complicity.&#8221;
As of early Wednesday afternoon, the meeting remained in session. See video below.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="LIVE: UN Security Council meeting on the Middle East" width="500" height="375" src="https://www.youtube.com/embed/1VyjPJclLAI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/10/41143156/oil-prices-spike-energy-stocks-jump-after-irans-missile-attack-on-israel-what-investors-need-to-know">Oil Prices Spike, Energy Stocks Jump After Iran&#8217;s Missile Attack On Israel — What Investors Need To Know</a>
<h3 class="wp-block-heading">Bracing For Further Escalation</h3>
The UN meeting is taking place while Israeli troops&nbsp;battle Hezbollah militants&nbsp;inside Lebanon, making good on Israeli Prime Minister Benjamin Netanyahu&#8216;s&nbsp;vow to retaliate, per <a href="https://www.bloomberg.com/news/articles/2024-10-02/israel-vows-retaliation-for-massive-iranian-missile-attack">Bloomberg</a>.
The Israeli army Wednesday suffered at least eight fatalities since the ground operation began, CNN <a href="https://www.cnn.com/world/live-news/israel-iran-missile-attack-middle-east-10-02-24-intl-hnk#cm1rx3x98000e3b6qp2nmm7pn">reported</a> citing Israel Defense Forces. 
Iran launched the attack against Israel following the recent killing of <a href="https://www.benzinga.com/news/24/09/41079860/israel-tightens-grip-hezbollah-leader-hassan-nasrallah-killed">Hezbollah leader Hassan Nasrallah</a>. 
Since its formation in the early 1980s, Hezbollah — which the U.S. considers a terrorist organization — has received substantial support from Tehran, which views the group as an ally in advancing its influence in the Middle East.
The White House promised consequences for Iran's attack on Israel. On Tuesday, President Joe Biden reiterated at the start of a meeting with officials: &#8220;Make no mistake, the United States is fully, fully supportive of Israel.&#8221;
Market Reaction: Following the missile attacks from Iran on Israel, plus Tuesday&#8217;s <a href="https://www.benzinga.com/news/econ-s/24/10/41139919/private-sector-job-gains-outpace-forecasts-in-september-as-us-adds-143-000-jobs">job and economic data</a>, major stock indices dropped. As of early Tuesday afternoon:
<ul>
<li>The S&amp;P 500 was down slightly by 0.08%. </li>
<li>The Dow Jones was down by 0.02%. </li>
<li>The Nasdaq was up by 0.09%. </li>
</ul>
At last check, ETFs that track the indexes were up:
<ul>
<li>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.01% at $568.56 Tuesday.</li>
<li>SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down slightly at $421.23.</li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq 100, is up 0.22% to $482.33.</li>
</ul>
&#8220;Financial markets have reacted as one would expect to the heightened geopolitical tensions in the Middle East, with a bout of risk aversion sweeping through asset classes in the past 24 hours,&#8221; said Matthew Ryan, head of market strategy and global financial services at Ebury.
Equity markets are trading lower and, in currencies, the safe-havens have outperformed most of their peers, he adds. This includes the U.S. dollar, which remains buoyed following some hawkish <a href="https://www.federalreserve.gov/newsevents/speech/powell20240930a.htm">comments</a> from Federal Reserve Chair Jerome Powell on Monday.
The conflict is also causing broader concerns for inflation and central bank policy. Higher oil prices could undermine the U.S. Federal Reserve&#8217;s efforts to control inflation, potentially delaying future interest rate cuts, per <a href="https://www.timesofisrael.com/stock-markets-slump-oil-jumps-as-iran-attack-sparks-fear-of-all-out-war-in-mideast/" target="_blank" rel="noreferrer noopener">The Times of Israel</a>.
What To Look For: Ryan says investors are &#8220;rightly fearful&#8221; that Israel&#8217;s retaliation could disrupt oil supplies. After all, Iran is the seventh-largest oil producer in the world. 
The price of gold and oil both spiked higher after the attack. The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was trading slightly higher on the day at $72.13 at last check while the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is down 0.11% to $245.33 Wednesday. 
&#8220;The wider implication for markets is the rising possibility of a sharp move higher in global oil futures, and another period of elevated energy prices and consumer inflation,&#8221; Ryan says.
The ramifications will not be &#8220;anywhere near as severe&#8221; as those that followed Russia&#8217;s invasion of Ukraine, Ryan adds. &#8220;So far, at least, the moves in markets have been relatively contained.&#8221;
Defense ETFs, as of Wednesday afternoon, were trending up:
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 0.37% to $151.91.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) is up 0.15% to $116.10. </li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) is up 0.67% to $159.98. </li>
</ul>
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41112728/us-boosts-military-presence-in-middle-east-deploys-fighter-squadrons-amid-rising-tensions-with-iran">US Boosts Military Presence In Middle East As Tensions Spike With Iran</a> </li>
</ul>
Image: Shutterstock.

Broad U.S. Equity ETFs

Commodities

SPDR Dow Jones Industrial Average ETF Trust

Markets Turn Risk-Off As Israel, Iran Clash: Investors 'Rightly Fearful' Of Oil Disruption, Strategist Says

On Wednesday, RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) said Raytheon has secured a three-year, two-phase contract from DARPA to develop foundational<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41126763/rtxs-pratt-whitney-opens-its-largest-military-engines-facility-in-oklahoma-city" rel="noreferrer noopener"> ultra-wide bandgap semiconductors.</a>
These will be based on diamond and aluminum nitride technology, which revolutionizes semiconductor electronics by increasing power delivery and thermal management in sensors and other electronic applications.
In phase one of the contract, the Raytheon Advanced Technology team will develop diamond and aluminum nitride semiconductor films and integrate them into electronic devices.
Phase two will focus on optimizing and advancing this technology for larger diameter wafers intended for sensor applications.
&#8220;Raytheon has extensive proven experience developing similar materials such as Gallium Arsenide and Gallium Nitride for Department of Defense systems,&#8221; said&nbsp;Colin Whelan, president of Advanced Technology at Raytheon.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RTX stock has gained over 74% in the past year. Investors can gain exposure to the stock via iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;First Trust Exchange-Traded Fund First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41111794/rtx-wins-1-3b-contract-for-f135-engine-upgrade-details" rel="noreferrer noopener">RTX Wins $1.3B Contract For F135 Engine Upgrade: Details</a>
On Tuesday, RTX said Raytheon received a&nbsp;$192 million&nbsp;contract from the U.S. Navy to develop the Next Generation Jammer Mid-Band Expansion, an upgrade to the <a target="_blank" href="https://www.benzinga.com//node/41118565" rel="noreferrer noopener">current Next Generation Jammer Mid-Band system.</a>
In a separate press release yesterday, RTX said its unit Pratt &amp; Whitney&nbsp;celebrated the opening of its new 845,000-square-foot facility in&nbsp;Oklahoma City, Oklahoma, solidifying its position as the business&#8217; <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41126763/rtxs-pratt-whitney-opens-its-largest-military-engines-facility-in-oklahoma-city" rel="noreferrer noopener">largest military engines field location</a>.
The&nbsp;$255 million&nbsp;investment will enable Pratt &amp; Whitney to meet the growing demands of both U.S. and global defense customers for the <a target="_blank" href="https://www.benzinga.com//node/41122954" rel="noreferrer noopener">F135, F117, TF33, F100 and F119 engines.</a>
&#8220;This expansion more than doubles our footprint in&nbsp;Oklahoma City, ensuring we have the capacity and agility to support increased workloads as military programs ramp up and new ones come online,&#8221; said&nbsp;Greg Treacy, vice president of Pratt &amp; Whitney in&nbsp;Oklahoma City.
Price Action: RTX shares are trading lower by 0.10% to $124.26 on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41143156/oil-prices-spike-energy-stocks-jump-after-irans-missile-attack-on-israel-what-investors-need-to-know" target="_blank" rel="noreferrer noopener">Oil Prices Spike, Energy Stocks Jump After Iran&#8217;s Missile Attack On Israel: What Investors Need To Know</a></li>
</ul>

General

RTX's Raytheon Secures DARPA Contract To Develop Ultra-Wide Bandgap Semiconductors: Details

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-02_09h01_16.png" alt="" style="width:624px" /></figure>
<h4 class="wp-block-heading">The Power Of Missile Defense</h4>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-raytheon-missile-defense-iron-dome-patriot-rtx-mc-10022024">click here</a> for an enlarged chart of Rtx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of RTX stock is being used to illustrate the point.</li>
<li>Yesterday, Iran fired about 180 ballistic missiles on Israel.  Israel and the U.S. were able to intercept most of these missiles with missile defense systems. These missiles reached Israel in 12 minutes. The defense was impressive considering there were no fatalities.</li>
<li>What happened in Israel yesterday shows the power of missile defense systems and illustrates the opportunity for investors in missile defense stocks.</li>
<li>As full disclosure, RTX is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio. RTX is The Arora Report's favorite missile defense stock.&nbsp;</li>
<li>The chart shows that RTX has broken out on the success of missile defense in Israel.</li>
<li>RTX is a joint developer of the Iron Dome used in Israel. RTX is best known for its Patriot Air And Missile Defense System.  RTX also produces several other missile defense systems and aircraft engines.</li>
<li>RTX entered The Arora Report portfolio when the stock experienced a massive drop on the news of cracks in Pratt &amp; Whitney engines. The Arora Report uses over 50 different strategies. RTX belongs to the strategy of buying a good company where the stock is down due to a fixable technical problem.</li>
<li>The chart shows the power of buy zones.  Buy zones allow investors to buy stocks and ETFs when the probability adjusted risk reward is more favorable.  Risk and reward are two sides of the same coin in investing. Smart money focuses on risk adjusted returns. In contrast, the momo crowd focuses only on rewards – the result is that the momo crowd goes through volatile cycles of making money and losing money, and in the end, accumulating far less than smart money.</li>
<li>The chart illustrates the power of a billionaire and hedge fund technique known as a trade around position.&nbsp; A trade around position can dramatically increase profits and reduce risks.</li>
<li>The chart shows that the RTX trade around position was started at an average of $80.70. The position has over 50% gain as of this writing.  The trade around position is separate and distinct from the core position.</li>
<li>Peace is not about to break out in the world.&nbsp; As such, all investors should consider a defense stock or ETF in their portfolio.</li>
<li>For those interested in ETFs, The Arora Report&#8217;s ETF of choice is iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>).&nbsp; As full disclosure, ITA is in The Arora Report&#8217;s ZYX Allocation Model Portfolio.&nbsp;</li>
<li>Automatic Data Processing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) is the largest private payroll processor in the country.&nbsp; ADP uses its data to provide a glimpse of the employment picture ahead of the official jobs report that will be released on Friday.&nbsp; ADP employment change came at 143K vs. 120K consensus.&nbsp; This indicates that the jobs picture is staying strong.</li>
<li>Previously, JOLTS job openings came at 8.04M, higher than expectations.</li>
<li>&nbsp;ISM Manufacturing Index came at 47.2 vs. 47.4 consensus.</li>
</ul>
<h3 class="wp-block-heading">Buying Stampede</h3>
Stocks are experiencing a once in a century buying stampede in Hong Kong.  Stocks in Hong Kong rose 7%. Property developers rose 47%, and broker stocks rose 35%.  As full disclosure, Hong Kong ETF iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) is in The Arora Report&#8217;s ZYX Emerging.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are neutral in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
In the early trade, money flows are negative in &nbsp;Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing selling along with junk stocks.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

$BTC

AAPL

AMZN

GOOG

MSFT

TSLA

Opportunity In Missile Defense Stocks, Once In A Century Buying Stampede In Hong Kong

On Monday, RTX Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) business, Pratt &amp; Whitney, won a contract worth up to $1.3 billion to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41106085/rtxs-pratt-whitney-awarded-f135-engine-core-upgrade-contract" rel="noreferrer noopener">advance the F135 Engine Core Upgrade (ECU)</a>.
The contract is expected to boost engine durability and enhance power and cooling for Block 4 and future F-35 capabilities.
Jill Albertelli, president of Pratt &amp; Whitney&#8217;s Military Engines business, said, &#8220;It allows us to continue work in the risk reduction phase with a fully staffed team focused on design maturation, aircraft integration, and mobilizing the supply base to prepare for production.&#8221;
Jeff Shockey, senior vice president of RTX Global Government Relations, stated, &#8220;Their steadfast commitment to the F135 ensures it will deliver critical capabilities for decades to come.&#8221;
To date, Pratt &amp; Whitney has delivered over 1,200 F135 engines, accumulating more than 900,000 flight hours.
The F135 ECU will be integrated into new F-35s during production or retrofitted at global F135 depot sustainment facilities, making it accessible to all F-35 operators.
Apart from this, RTX&#8217;s Raytheon delivered its first sensor payload to Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), ensuring the U.S. Space Force&#8217;s Next-Generation Overhead Persistent Infrared (Next-Gen OPIR) Geosynchronous Earth Orbit (GEO) Block 0 missile warning satellite remains on s<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41094163/rtxs-raytheon-delivers-missile-warning-sensor" rel="noreferrer noopener">chedule for its initial launch in 2025</a>.
Investors can gain exposure to the stock via iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and First Trust Exchange-Traded Fund First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>).
Price Action: RTX shares are up 0.12% at $121.16 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/09/40888451/russia-to-expand-army-for-third-time-since-war-with-ukraine-began-defense-stocks-rtx-northrop-grumma" target="_blank" rel="noreferrer noopener">Russia To Expand Army For Third Time Since War With Ukraine Began: Defense Stocks RTX, Northrop Grumman Gain</a></li>
</ul>

RTX Wins $1.3B Contract For F135 Engine Upgrade: Details

Israel has told the U.S. it is considering putting troops <a href="https://www.benzinga.com/general/politics/24/09/41030927/israel-considers-ground-invasion-calls-up-reserve-brigades-as-conflict-escalates-in-lebanon-90k-">on the ground in Lebanon</a>.
The decision, reported <a href="https://www.washingtonpost.com/world/2024/09/30/israel-lebanon-hezbollah-hamas-war-news-gaza/">by</a> the Washington Post, which cited an unnamed U.S. official, comes as Israeli forces carry out air raids in Lebanon and Prime Minister Benjamin Netanyahu rejects <a href="https://www.benzinga.com/general/politics/24/09/41056542/israel-plans-to-disrupt-arms-delivery-from-iran-to-lebanon-in-motion-as-palestinian-president-cr" target="_blank" rel="noreferrer noopener">international calls for a cease-fire.</a>
Here&#8217;s a breakdown of the latest developments coming from the region:
<h3 class="wp-block-heading">Market Impact</h3>
Oil prices showed little reaction on Monday following the death of Hezbollah leader Hassan Nasrallah in an <a href="https://www.benzinga.com/news/24/09/41079860/israel-tightens-grip-hezbollah-leader-hassan-nasrallah-killed">Israeli airstrike in Beirut</a>. 
Brent crude currently hovers between $73 and $74 per barrel, while U.S. West Texas Intermediate increased by 0.23% to $68.34 at last check Monday. 
Observers noted that oil supply disruptions have been minimal since fighting between Israel and Hezbollah resumed in October 2023 in the weeks following Hamas&#8217; attack on <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">an Israeli musical festival</a>.
The U.S. considers both Hezbollah and Hamas to be terrorist organizations. 
Increased production from the U.S., Canada, and Guyana, combined <a href="https://www.benzinga.com/markets/asia/24/08/40596334/asia-markets-mixed-europe-gains-crude-oil-falls-on-chinese-demand-concerns-global-markets-today-whil">with weak Chinese demand</a>, is keeping the market stable. 
Reports indicate that oil prices could spike to $100 per barrel if the Strait of Hormuz—a vital route responsible for transporting about 20% of global oil — were to be affected.
ETFs To Watch: Despite heightened tensions, the market seems to be pricing in stability for now, barring any significant disruptions. United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was down 0.38% at last check Monday due to rising tensions.
U.S. defense stocks, tracked by the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>), are up 18.08% year-to-date.
Specific defense stocks did not gain as of Monday&#8217;s midday trading:
<ul>
<li>Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), down 0.4% to $580.</li>
<li>The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), down 2.38% to $152.60.</li>
<li>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), down 0.75% to $522.84.</li>
</ul>
See Also: <a href="https://www.benzinga.com/news/24/09/41017016/bidens-speech-not-strong-not-promising-says-lebanons-foreign-minister-us-is-the-only-country-that-ca" target="_blank" rel="noreferrer noopener">Lebanon's Foreign Minister Says US Is The Only Country That Can ‘Really Make A Difference In The Middle East'</a>
<h3 class="wp-block-heading">Targeted Raids</h3>
Israel has been conducting targeted raids into southern Lebanon as part of efforts to push Hezbollah away from its northern border. These operations, described as intelligence-gathering and probing missions, come ahead of a potential broader ground incursion.
Hezbollah deputy leader Naim Qassem <a href="https://www.timesofisrael.com/hezbollah-deputy-leader-vows-terror-group-prepared-to-face-potential-idf-ground-op/">asserted</a> that the group is prepared for a prolonged conflict if Israeli troops enter by land, per the Times of Israel. 
Lebanon's Prime Minister Najib Mikati does not share the same sentiment and continues to call for a ceasefire.
<h3 class="wp-block-heading">What&#8217;s Next</h3>
On Monday, Reuters reported that the Lebanese government is looking to end Hezbollah&#8217;s armed presence south of the Litani River by invoking UN Security Council Resolution 1701. 
UNSC Resolution 1701 was adopted unanimously back in August 2006, ending the previous war between Hezbollah and Israel. 
The effectiveness of the resolution today depends on the political and military context, and the cooperation of the involved parties, particularly Israel, Hezbollah, and the international community.
It called for a cessation of hostilities and outlined a framework for a lasting peace between the parties involved.
Mikati is looking to elect a new president once a ceasefire occurs, ending a nearly two-year vacancy at the top post.
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Image: Shutterstock

Oil Prices Remain Steady After Hezbollah Leader's Death, Israel Informs US Of Potential Ground Incursion Into Lebanon

The Biden administration&#8217;s decision to enhance Ukraine's long-range strike capabilities has U.S. <a href="https://www.benzinga.com/topic/russia-ukraine-war">intelligence agencies on high alert.</a> 
What Happened: President Joe Biden &#8220;decided to provide Ukraine with the Joint Standoff Weapon (JSOW) long-range munition,&#8221; according to a White House <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/26/statement-from-president-joe-biden-on-u-s-support-for-ukraine/">statement </a>on Thursday. 
But the New York Times <a href="https://www.nytimes.com/2024/09/26/us/politics/us-ukraine-strikes.html?nl=the-morning&amp;regi_id=136109156&amp;segment_id=178988">reports</a> U.S. intelligence agencies are assessing the risks of such a scenario.
Western allies face the potential threat of Russian-led attacks if those long-range missiles are <a href="https://www.benzinga.com/topic/ukraine">aimed at certain targets</a> deep inside Russia.
The discussions were at the center of Ukrainian President Volodymyr Zelenskyy&#8216;s visit to the U.S. this past week in which he met with Biden and Vice President Kamala Harris.
A meeting between Zelenskyy and ex-President Donald Trump is reportedly taking place on Friday in New York.
Ukraine Winter: The Russia-Ukraine war began on Feb. 24, 2022, when Russia launched a full-scale invasion.
Since then, Russia has bombarded critical power infrastructure across Ukraine — the latest attack being on Thursday, per Reuters. Such tactics, considered war crimes, leave Ukraine&#8217;s citizens vulnerable heading into the winter months. 
&#8220;Due to ongoing attacks on civil infrastructure, front-line movements, mass displacements and disruptions of access to essential health-care services, the war's impacts, compounded by winter, can increase the risk of excess cold-related morbidity and mortality,&#8221; according to a Thursday <a href="https://www.who.int/europe/publications/i/item/WHO-EURO-2024-2946-42704-59552">report</a> from the World Health Organization.
Germany agreed to provide a $78 million winter aid package to help Ukraine maintain heat and electricity.
Federal Development Minister Svenja Schulze <a href="https://defence-industry.eu/germany-supports-ukraine-with-arms-and-winter-package/">said</a> Germany&#8217;s support aligns with national interests, as Ukraine&#8217;s defense also protects European security.
"We are supporting Ukraine in its efforts to rebuild a decentralised power supply infrastructure, as Russia will then not be able to destroy it so easily," he added.
Russia&#8217;s invasion affected oil and gas pipeline relations with Germany and Ukraine starting in 2022. This resulted in major <a href="https://www.benzinga.com/news/22/08/28447445/vladimir-putin-is-waging-war-not-just-against-ukraine-but-against-the-west-expert-warns-as-germany-i">disruptions and geopolitical shifts</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/41037745/mike-johnson-lashes-out-over-weapons-factory-tour-snub-cries-election-interference-to-ukraine-presid">Mike Johnson Lashes Out Over Weapons Factory Tour Snub, Cries Election Interference To Ukraine President — Wants Ambassador Fired</a>
Why It Matters: In the U.S., Democrats and Republicans are at odds over whether to provide aid at all to Zelenskyy. 
Harris, the 2024 Democratic presidential nominee, met with Zelenskyy and criticized those suggesting Ukraine should cede territory for peace. Her comments were seen as a veiled jab at <a href="https://www.benzinga.com/government/21/01/19152983/donald-trump-is-the-first-us-president-to-be-impeached-twice">twice-impeached former President</a> Trump, who often <a href="https://apnews.com/article/trump-zelenskyy-ukraine-russia-6e02fc7575a14d9abb64a326ffd0a4a3">derides</a> efforts to help Ukraine.
At a North Carolina event Wednesday, Trump said Ukraine was &#8220;demolished&#8221; and should have conceded to Russian President Vladimir Putin, the <a href="https://apnews.com/article/donald-trump-ukraine-putin-zelenskyy-0f4d539aa73a943474d779716e5fe42a">Associated Press</a> reported. 
The comments come just weeks after a debate with Harris, in which the 2024 Republican nominee refused to say whether he wanted Ukraine <a href="https://www.benzinga.com/news/24/09/40998738/trump-says-ukrainian-president-backs-kamala-harris-for-white-house-zelenskyy-is-the-greatest-salesma">to win the war</a>. 
Price Action: Defense contractors saw gains and losses on Friday.
<ul>
<li>General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) is up 0.34% to $301.55</li>
<li>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) rose 034% to $526.08</li>
<li>TransDigm Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>) declined 0.069% to $1,400.08</li>
</ul>
Exchange-traded funds (ETFs) that hold defense stocks trended up:
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 0.52%</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) is up 0.29%</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) is up 0.82%</li>
</ul>
Now Read:
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<li><a href="https://www.benzinga.com/news/24/09/41059253/trump-set-to-meet-ukraines-president-amid-growing-kyiv-concerns-over-botched-visit-republicans-were">Trump Set To Meet Ukraine&#8217;s President Amid Growing Kyiv Concerns Over Botched Visit</a></li>
</ul>
Photo: Shutterstock

Ukraine Missile Use Worries US Intelligence About Potential Russia Retaliation, Germany Pledges Winter Aid

GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) shares are trading higher on Monday. The company launched AI Wingmate to support its 52,000 employees in enhancing <a target="_blank" href="https://www.geaerospace.com/news/press-releases/ge-aerospace-launches-company-wide-generative-ai-platform-employees" rel="noreferrer noopener">quality</a> and innovation in flight.
The company collaborated with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and integrated Azure AI, including Azure OpenAI Service, to ensure security, compliance, and responsible AI use within its network.
AI Wingmate offers GE Aerospace employees a secure internal platform to access a comprehensive suite of generative AI capabilities, incorporating new data and insights from employees over time to meet the company&#8217;s business needs.
The launch of this internal generative AI platform marks a significant milestone in GE Aerospace&#8217;s decade-long effort to integrate AI across its operations.
During this period, the company has more than doubled its investment in AI technology, establishing itself as one of the leading AI patent holders in the aviation industry.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40165662/poland-taps-ge-aerospace-for-apache-engine-support-finalizes-new-offset-agreement" rel="noreferrer noopener">Poland Taps GE Aerospace for Apache Engine Support: Finalizes New Offset Agreement</a>
David Burns, Chief Information Officer, GE Aerospace, said, &#8220;The launch of AI Wingmate will transform employee productivity, allowing our people to spend more time solving our customers&#8217; toughest problems.&#8221;
&#8220;Generative AI is changing the way we all work, enabling us to be more productive with our daily work tasks than ever before. Ultimately, this will strengthen our ability to help the aerospace industry meet our highest objectives of enhanced safety, sustainability, and reducing supply chain.&#8221;
&#8220;We are particularly excited about plans to launch a new generative AI based module exclusively dedicated to FLIGHT DECK, our proprietary lean operating model that is the foundation of how we work. The generative AI platform will serve as a vehicle for employees to learn about FLIGHT DECK and its ten fundamentals.&#8221;&nbsp;
Investors can gain exposure to the stock via IShares U.S. Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>)&nbsp;and TCW Transform Systems ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NETZ#NYSE">NETZ</a>).
Price Action: GE shares are up 0.55% at $188.46 at the last check Monday.
Image via Shutterstock
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GE Aerospace Takes Flight With AI Wingmate: Boosts Innovation, Employee Productivity With Microsoft's Azure AI

A significant Ukrainian drone assault on Russia caused an <a href="https://www.benzinga.com/government/24/09/40888451/russia-to-expand-army-for-third-time-since-war-with-ukraine-began-defense-stocks-rtx-northrop-grumma">earthquake-sized eruption</a> at a major arsenal in the Tver region on Wednesday, forcing citizens in the city of Toropets to evacuate, according to reports from war bloggers and some media.
Unverified video and images on social media showed a huge ball of flame rising into the night sky and numerous explosion detonations tearing across a lake about 240 miles west of Moscow, Reuters reported.
NASA satellites registered intense heat sources coming from an area of about five square miles at the site in the early hours. Earthquake monitoring stations picked up the attack as a small earthquake&nbsp;in the area.
&#8220;The enemy hit an ammunition depot in the area of Toropets,&#8221; said Yuri Podolyaka, a Ukrainian-born, pro-Russian military blogger. &#8220;Everything that can burn is already burning there (and exploding).&#8221;
Read Also: <a href="http://US And Allies Worried Amid Reports Of Russia Potentially Sharing Nuclear Secrets With Iran">US And Allies Worried Amid Reports Of Russia Potentially Sharing Nuclear Secrets With Iran</a>
Ukrainian President Volodymyr Zelenskyy, speaking in his nightly video address, praised the attack without mentioning the target.
&#8220;A very important result was achieved last night on Russian territory and such actions weaken the enemy,&#8221; Zelenskyy said. &#8220;I thank everyone involved. Such precision is truly inspiring.&#8221;
A source in Ukraine&#8217;s SBU state security service told Reuters earlier that the drone attack had destroyed&nbsp;a warehouse storing missiles, guided bombs and artillery ammunition.
Igor Rudenya, governor of the Tver region, said Ukrainian drones had been shot down, a fire had broken out and some residents were being evacuated. He did not say what was burning, Reuters reported.
The size of the main blast shown in the unverified social media video was consistent with 200 to 240 tons of high explosives detonating, said George William Herbert of the Middlebury Institute of International Studies at Monterey in California.
Some war bloggers asked how drones could trigger such large blasts at what was thought to be a highly fortified facility.
Price Action: Defense contractors saw gains and losses by the end of Wednesday&#8217;s trading day.
<ul>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) slipped 0.44% to $302.52</li>
<li>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) rose 0.2% to $521.77</li>
<li>TransDigm Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>) declined 0.12% to $1,273.80</li>
</ul>
Exchange-traded funds that hold defense stocks trended up and down.
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 0.06%</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) fell 0.13%</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) declined 0.01%</li>
</ul>
Read Now:
<ul>
<li><a href="http://over-30-months-of-war-zelensky">Russia Launches &#8216;One Of The Heaviest Strikes&#8217; On Ukraine In Over 30 Months Of War: Zelensky</a></li>
</ul>
Photo: Shutterstock

Ukrainian Drone Attack Causes Earth-Rattling Blast In Russia's Tver Region

The Boeing Company&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) credit rating may be <a href="https://www.benzinga.com/news/24/09/40763846/boeing-and-iam-union-strike-deal-potentially-averting-major-strike">lowered to junk </a>as a strike stands to cripple production and cash flow.
Aircraft assembly workers walked off the job early Friday morning after <a href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike">rejecting a contract</a> offer presented by Boeing and the International Association of Machinists and Aerospace Workers (IAM) that would have boosted wages by 25% over four years.&nbsp;
The striking machinists produce the 737 Max, Boeing's top-selling airliner, the 777 jet and the 767 cargo plane. The walkout likely will not stop production of Boeing 787 Dreamliners, which are built by nonunion workers in South Carolina, the Associated Press <a href="https://apnews.com/article/boeing-strike-machinists-contract-9f61a7d48675d1c3517233d40d4ec2b1">reported</a>.
Jefferies aerospace analyst Sheila Kahyaoglu estimated a 30-day strike could cost Boeing $1.5 billion.
Moody&#8217;s Investment Ratings on Friday said it will look at how a prolonged strike may impact Boeing&#8217;s ability to raise cash and make the 737 and 787 models.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40847259/boeing-workers-strike-at-midnight-threatens-aircraft-production-as-financial-risks-loom-after-30">Boeing Worker&#8217;s &#8216;Strike At Midnight&#8217; Threatens Aircraft Production As Financial Risks Loom After 30,000 Workers Vote For Industrial Action</a>
&#8220;In our review, we will assess the strike&#8217;s duration and impact on cash flow and the potential equity capital raising Boeing may undertake to bolster its liquidity,&#8221; Moody&#8217;s said.
&#8220;We will also assess the extent to which the strike and ongoing challenges in increasing production of the 737 and 787 aircraft models affect the timing of growth in production rates and the pace and scale of improvements in Boeing&#8217;s operating cash flow.&#8221;
Moody&#8217;s said it will also consider the costs for Boeing to complete the fixed price contracts in the defense business, which will continue to be a drain on earnings and operating cash flow.
Moody&#8217;s rating on Boeing's unsecured debt has stood at Baa3 since April, the lowest rating for the stock to be considered investment grade. 
A downgrade to Boeing&#8217;s credit rating would put it in non-investment grade, or &#8220;junk,&#8221; territory.
Moody&#8217;s noted that Boeing&#8217;s annual free cash flow will fall short of $4 billion in debt coming due in 2025 and the $8 billion due in 2026.
&#8220;The path to restoring compliance, higher quality and strong cash flow in its commercial aircraft assembly operations remains fraught with execution risk,&#8221; Moody&#8217;s said.
Moody&#8217;s pointed out that the IAM members&#8217; 57-day strike in 2008 cost Boeing around $1.5 billion per month, at a time when 737 production was at its then-normal production rate of about 34 per month.
Price Action: Shares of Boeing were down 3.4% to $157.23 at the time of publication Friday.
Exchange-traded funds that hold the stock trended upward on Friday.
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 0.89%.</li>
<li>Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>) picked up 1.07%.</li>
<li>Direxion Daily Aerospace &amp; Defense Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFEN#NYSE">DFEN</a>) gained 1.72%.</li>
<li>First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>) grew 0.84%.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) went up 0.46%.</li>
</ul>
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<li><a href="https://www.benzinga.com/general/social-media/24/09/40860859/trump-media-technology-shares-surge-former-president-says-hes-not-selling-or-leaving-truth-s">Trump Media &amp; Technology Shares Surge, Former President Says He&#8217;s &#8216;Not Selling&#8217; Or Leaving Truth Social: &#8216;Elon Would Love Me To Come Over To X&#8217;</a></li>
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Photo: Shutterstock

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DFEN

Boeing Faces Junk Rating As Moody's Warns Of 'Execution Risk' During Strike

BofA Securities analyst Ronald J. Epstein reiterated a Neutral rating on Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>),<a target="_blank" href="https://www.benzinga.com/quote/BA/analyst-ratings" rel="noreferrer noopener"> with a price forecast of $200.</a>
The analyst views Boeing as particularly vulnerable, noting that the company has delayed its 737 production rate increase from 42 per month, originally set for September 2024, to March 2025.
A prolonged strike could further worsen the company&#8217;s current difficulties, Epstein added.
However, if the Spirit AeroSystems strike and subsequent contract negotiations set a precedent, the strike could potentially be resolved in as little as a week, Epstein adds.
The analyst forecasts that Boeing may need to offer additional concessions, possibly approaching the IAM&#8217;s original demand for a 40% wage increase.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike" rel="noreferrer noopener">Boeing&#8217;s Stock Falls As 33,000 Aircraft Assembly Workers Strike</a>
The analyst highlights that both CEO Kelly Ortberg and COO Stephanie Pope have fired off internal memos to Boeing staff, trying to cool down strike sentiments.
Pope touted the proposed contract as Boeing&#8217;s best ever, emphasizing the 25% wage increase despite the company&#8217;s hefty $60 billion debt, the analyst highlights.
Meanwhile, Kelly&#8217;s memo admitted that Boeing is grappling with a rough patch, partly due to past blunders, and warned that a strike could derail their hard-fought recovery.
According to the analyst, Boeing now has the onus to act, resolve the issues, and prevent additional &#8220;disruptions.&#8221;
Meanwhile, Boeing shares are trading lower after workers rejected the proposed labor contract, leading to a strike. Moody&#8217;s placed the company&#8217;s ratings on review for downgrade amid concerns.
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, BA stock has lost 25% in the past year. Investors can gain exposure to the stock via iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are trading lower by 3% to $157.87 at last check Friday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40847259/boeing-workers-strike-at-midnight-threatens-aircraft-production-as-financial-risks-loom-after-30" target="_blank" rel="noreferrer noopener">Boeing Worker&#8217;s &#8216;Strike At Midnight&#8217; Threatens Aircraft Production As Financial Risks Loom After 30,000 Workers Vote For Industrial Action</a></li>
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Boeing May Need To Offer Additional Concessions To End Strike Despite Multi-Billion Dollar Debt: BofA Analyst

Morgan Stanley is advising investors to pivot towards defensive stocks as the AI market loses momentum. This recommendation comes after a noticeable decline in semiconductor shares.
What Happened: On Tuesday, Mike Wilson, Morgan Stanley&#8217;s chief U.S. equity strategist, <a href="https://youtu.be/l97udx2X7Ws?feature=shared">told</a> Bloomberg Surveillance that the excitement around AI investments has diminished. 
He noted that the semiconductor sector, including major players like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has seen significant drops in stock prices.
&#8220;A lot of those stocks have really come off. And that makes sense to me. We just got overcooked on the whole AI theme,&#8221; said Wilson.
Wilson highlighted that semiconductor shares have fallen nearly 7% since Nvidia&#8217;s recent earnings report, with Nvidia itself experiencing a roughly 13% decline. He emphasized that this downturn doesn&#8217;t spell doom for the industry but indicates a longer-term benefit and return.
With the AI rally fading, Wilson suggests that investors should focus on &#8220;quality defensive stocks&#8221; in sectors such as utilities, staples, and healthcare. He believes these areas are well-positioned to perform amid a slowing labor market.
&#8220;With that theme now gone, the market is looking for a new theme. On the growth side, there isn&#8217;t one, so what it does is it hunkers down into defensive, high-quality assets until we get the next thing. Whether that&#8217;s a bad outcome or a positive outcome, they&#8217;re going to hide out in these areas,&#8221; Wilson said.
Investors looking to explore the defense sector may want to consider checking out defense-focused ETFs like Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>), First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>), SPDR S&amp;P Kensho Future Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITE#NYSE">FITE</a>), iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>), and SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>).
See Also: <a href="https://www.benzinga.com/news/24/09/40815343/not-a-slam-dunk-for-harris-but-the-chances-of-a-trump-victory-have-slipped-investors-markets-adjust?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not A Slam Dunk For Harris, But The Chances Of A Trump Victory Have Slipped:&#8217; Investors, Markets Adjust Positions After Presidential Debate</a>
Why It Matters: The shift in Morgan Stanley&#8217;s strategy comes <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40701071/market-bull-warns-of-up-to-10-september-pullback-urges-caution-but-stresses-be-read">amid broader market concerns</a>. Last week, Tom Lee, co-founder and head of research at The Fundstrat, warned of a potential 7%-10% market pullback, citing historical trends that make September a challenging month for stocks.
Adding to the cautious sentiment, Bank of America advised <a href="https://www.benzinga.com/markets/equities/24/09/40787329/analyst-says-dont-buy-the-tech-dip-amid-election-policy-uncertainty-advises-focusing-on-these-se">investors to avoid increasing their exposure</a> to the tech sector due to ongoing market volatility and election-related policy uncertainty. This aligns with Morgan Stanley&#8217;s recommendation to pivot towards more stable, defensive sectors.
Moreover, the Federal Reserve&#8217;s recent actions add another layer of complexity. On Wednesday, economists suggested that the Fed has the green light to cut rates, given the inflation rate fell to its lowest point since February 2021. 
However, JPMorgan cautioned that <a href="https://www.benzinga.com/markets/equities/24/09/40700320/jpmorgan-warns-anticipated-rate-cuts-may-not-significantly-boost-stock-markets-fed-will-start-ea">these cuts might not significantly</a> boost stock markets, as they are likely to be reactive to slowing economic growth.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40787302/nvidia-shares-riding-on-huge-ai-tailwind-says-portfolio-strategist-why-expert-says-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Shares Riding On Huge AI Tailwind, Says Portfolio Strategist: Why Expert Says Stock Will Stay On An Upward Path For Next 2-3 Years</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Morgan Stanley Advises Shift To Defensive Stocks As AI Rally Loses Steam Following Drop In Nvidia And Others: 'We Got Overcooked On The Whole AI Theme'

Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading lower on Wednesday. On Tuesday, Boeing stated that it delivered 40 commercial jets in August, five more than in the same month of 2023 when a manufacturing defect <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40801473/whats-going-on-with-boeing-shares-tuesday" rel="noreferrer noopener">affected 737 MAX production</a>.
Of total count, Boeing delivered 32 MAX aircraft in August (up from 31 in July), which includes nine deliveries to customers in China, reported Reuters.
Goldman Sachs analyst Noah Poponak writes that deliveries stayed higher in August, following low levels earlier in the year <a target="_blank" href="https://www.benzinga.com/quote/BA/analyst-ratings" rel="noreferrer noopener">due to a focus on product quality controls</a>.
The analyst anticipates continued delivery increases in the second half of 2024, reflecting improved performance in the third quarter.
Also, Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>) CEO Guillaume Faury announced that the company plans to launch a new aircraft program by the end of the decade, reported Reuters.
BofA Securities analyst Ronald J. Epstein says that Faury estimated that the next-generation aircraft would reduce fuel consumption by 25% compared to the A320, suggesting that an open-rotor engine design could be an option.
Epstein adds that the &#8220;A220XLR&#8221; has been a topic of speculation, and this announcement adds credibility to the program.
If Boeing responds to Airbus&#8217; announcement, it could have significant implications for the company and impact Boeing&#8217;s balance sheet, writes the analyst.
Apart from this, on Tuesday, Boeing informed suppliers of a six-month delay in a key production milestone for its 737 MAX. The new target is to reach a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40789118/boeings-737-max-production-faces-new-delays-report" rel="noreferrer noopener">monthly output of 42 jets by March 2025</a>.
Truist Securities analyst Michael Ciarmoli says that consensus estimates of around 32 MAX aircraft per month in fourth-quarter suggest that the delay in production rate increases was anticipated.
The analyst added that this delay, while not unexpected by the supply chain, is likely to strain suppliers who are already managing substantial inventory related to the program.
Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are down 1.21% at $158.13 at the last check Wednesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Boeing's Production Delays Not Unexpected, Analyst Says

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I have about 20% cash and I'm looking forward to seeing the PMO index reach all the way down to the bottom of its range so that I can redeploy cash by taking advantage of price dips that represent buying opportunities.

HeadlineCharts Saturday, October 26, 2024

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As military spending surges around the world, defense ETFs offer investors a unique opportunity to hedge against market volatility while capitalizing on booming defense sectors. Therefore, it might be wise to invest in fundamentally solid defense ETFs, such as SPDR S&P Aerospace & Defense ETF (XAR), Invesco Aerospace & Defense ETF (PPA), and iShares U.S. Aerospace & Defense ETF (ITA). Continue reading… As global tension and geopolitical conflicts rise around the world, the defense industry is gaining much attention among investors. Driving the robust demand for defense products, the sector is rapidly fueling the market.
Given the industry's robust prospects, investing in ETFs like SPDR S&amp;P Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/XAR/">XAR</a>), Invesco Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/PPA/">PPA</a>), and iShares U.S. Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/ITA/">ITA</a>) might be wise choices for those looking to gain exposure to the tech sector.
Events like the Russia-Ukraine conflict and the rising military presence in the Asia-Pacific region have spurred countries to increase defense spending, with NATO members now aiming to allocate <a href="https://www.fidelity.com/learning-center/trading-investing/defense-stock-outlook">at least 2% of GDP toward military budgets</a>, and this increased military investments, driving demand for aerospace, cybersecurity and defense companies.
Simultaneously, <a href="https://www.usaspending.gov/agency/department-of-defense?fy=2024">the U.S. Department of Defense (DOD)</a> allocated a $2.10 trillion budget for fiscal year 2024, with $1.08 trillion for defense-related expenses. As per the Business Research Co. report, the global defense industry is anticipated to <a href="https://www.thebusinessresearchcompany.com/report/defense-global-market-report">exhibit a CAGR of 5.8%</a> by 2028.
Investors see defense ETFs not only as a way to gain exposure to these trends but also as a hedge against market volatility caused by geopolitical instability.
With that in mind, let's look at the fundamentals of the top three <a href="https://stocknews.com/category/industrials-equities-etfs/">Industrials Equities ETFs</a>, beginning with number 3.
ETF #3: SPDR S&amp;P Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/XAR/">XAR</a>)
XAR seeks to invest in companies' stocks operating across the industrial, capital goods, aerospace, and defense sectors. The fund tracks the performance of the S&amp;P Aerospace &amp; Defense Select Industry Index.
As of October 24, 2024, the fund had <a href="https://www.investopedia.com/terms/a/aum.asp">assets under management (AUM)</a> of $2.39 billion and an <a href="https://www.ssga.com/us/en/intermediary/etfs/spdr-sp-aerospace-defense-etf-xar">NAV of $158.71</a>. XAR has an expense ratio of 0.35%, lower than the category average of 0.47%.
The fund's top holdings include Axon Enterprise Inc. (<a href="https://stocknews.com/stock/AXON/">AXON</a>) with a 5.18% weighting, Curtiss-Wright Corporation (<a href="https://stocknews.com/stock/CW/">CW</a>) at 5.02%, and Howmet Aerospace Inc. (<a href="https://stocknews.com/stock/HWM/">HWM</a>), and L3Harris Technologies Inc. (<a href="https://stocknews.com/stock/LHX/">LHX</a>) at 4.80% and 4.76%, respectively. It currently has a total of 33 holdings.
The fund pays an annual dividend of $0.87, translating to a 0.55% yield at the prevailing price level. The fund's four-year average yield is 0.58%.
XAR has gained 39.1% over the past year and 21.2% over the past nine months to close the last trading session at $158.65. Its fund inflows came in at $82.12 million over the past month and $275.45 million over the past year.
XAR's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising prospects. The ETF has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It also has an A grade for Trade and Buy &amp; Hold and a B for Peer. Of the 36 ETFs in the B-rated <a href="https://stocknews.com/category/industrials-equities-etfs/">Industrials Equities ETFs</a> group, XAR is ranked #10. To access all of XAR's POWR Ratings, <a href="https://stocknews.com/stock/XAR/">click here</a>.
ETF #2: Invesco Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/PPA/">PPA</a>)
PPA invests in stocks of companies operating across aerospace and defense sectors and tracks the SPADE Defense Index. Invesco Capital Management LLC manages this fund.
With $4.50 billion in AUM, its <a href="https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&amp;ticker=PPA">top holdings</a> are RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>) with a 7.67% weighting in the fund, Boeing Company (<a href="https://stocknews.com/stock/BA/">BA</a>) at 7.17% weight, followed by Lockheed Martin Corporation (<a href="https://stocknews.com/stock/LMT/">LMT</a>), and General Electric Co (<a href="https://stocknews.com/stock/GE/">GE</a>) with 7.12% and 6.91% weightings, respectively. The ETF has a total of 55 holdings.
The ETF's expense ratio is 0.58%, compared to the category average of 0.47%. PPA fund inflows were $1.31 billion over the past year and $617.25 million over the past three months.
PPA pays an annual dividend of $0.65, which translates to a 0.56% yield at the current price level. The fund's dividend payouts have grown at a 15.2% CAGR over the past three years. Its four-year average yield is 0.69%.
Over the past year, PPA has gained 44.1% to close the last trading session at $116.42. The fund's NAV was $116.24 as of October 24, 2024.
PPA's solid fundamentals are reflected in its POWR Ratings. The fund has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The fund has an A grade for Trade and Buy &amp; Hold and a B for Peer. PPA is ranked #6 in the same B-rated group. <a href="https://stocknews.com/stock/PPA/">Click here</a> to access all the PPA ratings.
ETF #1: iShares U.S. Aerospace &amp; Defense ETF (<a href="https://stocknews.com/stock/ITA/">ITA</a>)
BlackRock Fund Advisors manages ITA. The fund invests in growth and value stocks of companies that are operating across industrials, capital goods, aerospace, and defense sectors. It seeks to track the performance of the Dow Jones U.S. Select Aerospace &amp; Defense Index.
As of October 24, ITA had $6.25 billion in assets under management and an NAV of $149.29. Its expense ratio of 0.40% compares to the category average of 0.47%.
The fund's <a href="https://www.ishares.com/us/products/239502/ishares-us-aerospace-defense-etf#:~:text=88.00-,Holdings,-All">top holdings</a> include GE with an 18.48% weight, RTX with a 15.87% weight, LMT with a 10.61% weight, and AXON with a 5.18% weight. It has a total of 35 holdings.
ITA's trailing-12-month dividend of $1.23 yields 0.81% on the current price level, while its four-year average dividend yield is 0.93%. Its dividend payouts have grown at an 11.34% CAGR over the past three years.
Over the past month, the fund's net inflow came in at $98.69 million. It has gained 39.9% over the past year to close its last trading session at $149.39.
ITA's promising outlook is reflected in its POWR Ratings. The ETF has an overall A rating, equating to a Strong Buy in our proprietary rating system.
It has an A grade for Trade and Buy &amp; Hold. It is ranked #3 out of 36 ETFs in the same Industrials Equities ETFs group. To see ITA's POWR ratings, <a href="https://stocknews.com/stock/ITA/">click here</a>.
What To Do Next?
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<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
ITA shares were trading at $149.59 per share on Friday afternoon, up $0.20 (+0.13%). Year-to-date, ITA has gained 18.84%, versus a 23.14% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/ita-ppa-xar-3-defense-etfs-to-watch-as-global-tensions-rise/>3 Defense ETFs to Watch as Global Tensions Rise</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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