Elbit Systems Subsidiary Awarded $150 Million Australian Defense Contract

On January 25, Elbit Systems Ltd. (ESLT) announced that its Australian subsidiary received a contract award worth $150 million from the Australian Department of Defense ‘s Capability and Acquisition Support Group. The contract is for five years but has the option to be extended to last seven years. Under the contract, Elbit Systems Australia will provide Through Life Support (TLS) to the Australian Defense Force for Battle Management System Command and Control.

 

Sonal received the news and issued an alert at 2:58 am. The next trade took place at 4:00 am for $140.70. The market opened for regular market trading at $141.05. The stock price closed lower for the day at $139.76, but the stock price pushed higher over the next few trading days. Five days after the announcement, Elbit closed at $149.45.

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