Mercury Systems Reports Third Quarter Fiscal 2024 Results Q3 FY24 Bookings of $219.9 million; book-to-bill ratio of 1.06Q3 FY24 Revenue of $208.3 million; GAAP net loss and adjusted EBITDA ($44.6) million and ($2.4) million, respectivelyRecord backlog of $1.3 billion; up 17% year-over-year ANDOVER, Mass., May 07, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, ), reported operating results for the third quarter of fiscal year 2024, ended March 29, 2024. “In the third quarter of fiscal year 2024, we made solid progress in each of our four priority focus areas which incl...
Major Risk-On Developments; Bullish Outlook Intact Over the past two weeks we have discussed the possibility that further downside was limited (4/23/24 Compass) and the mounting evidence that suggests the lows may be in for this pullback (4/30/24 Compass). Major risk-on developments for the broad equity market have continued to roll in over the past week, which we discuss below. As a result, we continue to believe the lows are in for this pullback, and we see the pullback to the 100-day MA on t...
BlueHalo Awards Mercury Production Agreement to Provide Digital Signal Processing Hardware for U.S. Space Force Satellite Control System ANDOVER, Mass., April 18, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, ), a technology company that delivers mission-critical processing power to the edge, today announced a production agreement with BlueHalo, the company transforming the future of global defense, to support the U.S. Space Force (USSF)’s Satellite Communication Augmentation Resource (SCAR) program. Within the scope of the agreement, Mercury will provide a field-progra...
Mercury Systems to Report Third Quarter Fiscal Year 2024 Financial Results on May 7, 2024 ANDOVER, Mass., April 16, 2024 (GLOBE NEWSWIRE) -- Mercury Systems Inc. (NASDAQ: MRCY, ), a technology company that delivers mission-critical processing power to the edge, will release its third quarter fiscal year 2024 financial results after the market close on Tuesday, May 7, 2024. Management will host a conference call and simultaneous webcast at 5:00 p.m. ET on the same day to discuss Mercury's quarterly financial results, business highlights, and outlook. In addition, Company representatives m...
L3Harris Selects Mercury to Provide Solid-State Data Recorders for SDA’s Tranche 2 Tracking Layer Satellites ANDOVER, Mass., April 10, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, ), a technology company that delivers mission-critical processing power to the edge, today announced it was awarded a $31 million contract from L3Harris Technologies (NYSE: LHX) to provide solid-state data recorders for the U.S. Space Development Agency (SDA)’s Tranche 2 Tracking Layer satellite constellation. L3Harris was selected to design and build 18 satellites that will provide near-g...
Moody's Ratings (Moody's) assigned a Baa3 rating to AECOM's amended and extended credit facilities, including a new $1.5 billion senior secured revolving credit facility, a $750 million senior secured term loan A, and a $700 million senior secured term loan B. The ratings on the existing credit faci...
Downgrading Real Estate to Underweight Our bullish outlook we initiated on November 7, 2023 remains intact; this intermediate-to-long-term outlook is likely to stay in place as long as 4800 support holds on the S&P 500 (implying 7-10% downside) and market dynamics remain healthy. To be clear, we are not calling for a pullback to 4800; we view it as a worst-case scenario for the S&P 500, and we simply want to be prepared for anything. Shorter-term, we remain bullish on the S&P 500 and Nasdaq 100...
Mercury Systems and Lockheed Martin to Advance Defense Manufacturing Capabilities in Switzerland GENEVA, March 21, 2024 (GLOBE NEWSWIRE) -- Mercury Mission Systems International SA (), a technology company that delivers mission-critical processing power to the edge, today announced that it will advance the manufacturing of defense technologies in Switzerland in collaboration with Lockheed Martin. This project is a direct result of the offset program between Lockheed Martin and the Swiss government as part of Switzerland’s purchase of the F-35 Lightning II. Under two initial engineering d...
Mercury Announces Early Access Program for New Direct RF Multi-Chip Module Powered by AMD Versal Adaptive SoCs ANDOVER, Mass., March 18, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, ), a technology company that delivers mission-critical processing power to the edge, today announced the early access program for its RFS1140 direct RF System-in-Package (SiP). Electronic warfare, communications, test and measurement, and radar applications at the edge are becoming more sophisticated, requiring secure, direct digitization of RF signals with high sampling rates and low laten...
U.S. Navy Selects Mercury to Deliver Electronic Warfare Combat Training Subsystems ANDOVER, Mass., March 01, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, ), a technology company that delivers mission-critical processing power to the edge, today announced that it received a five-year, $243.8 million, indefinite delivery/indefinite quantity contract to deliver rapidly reprogrammable electronic attack training subsystems for the Naval Air Warfare Center Weapons Division. These subsystems build on more than 25 years of test and training technology from the Mercury Processing ...
In our 2010 Japan Perspective, written close to the nadir of the bear market, we discussed what was wrong with Japan, but also what it was starting to do right. Fourteen years on, the Nikkei 225 - though not yet Topix - has hit a new all-time high. This report looks at how Japan built on those things that were going right, while also starting to address what else needed to be done, and looks at whether more is needed to be done if the market rally is to continue from here.
Yesterday's hotter-than-expected CPI report continues to suggest a more restrictive Fed policy than the market has been expecting. This raises the possibility of further consolidation for small- and mid-caps. Meanwhile, large-cap indexes (S&P 500, Nasdaq 100) remain bullish, finding support at their respective 20-day MAs since November 2023; the only question is whether that will continue to be the case, as our main concern remains rising Treasury yields and the U.S. dollar (DXY), which have bro...
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