Maxar, Blacksky, Planet Labs Stocks Rise on Contract Awards
May 25 2022 - 11:42AM
Dow Jones News
By Will Feuer
Shares of Maxar Technologies Inc., Blacksky Technology Inc. and
Planet Labs PBC rose in midday trading after the National
Reconnaissance Office, an agency of the U.S. Department of Defense,
awarded them multi-year contracts.
Shares of satellite imaging and space technology company Maxar
rose more than 14% to $27.96 a share after trading resumed. Shares
of Blacksky, a Philadelphia, Penn., geospatial intelligence
company, jumped almost 70% to $2 a share. Planet stock rose more
than 15% to $5.78 a share.
The stock moves helped the three companies slash their declines
in stock price so far this year. Maxar shares are now down just 6%
so far this year, while Planet stock is down 8%. Blacksky stock is
down 55% over the same period.
The contracts, which Maxar said are five-year base contracts
with five additional years of options through 2032, are valued at
billions of dollars over the next decade, the NRO said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 25, 2022 11:27 ET (15:27 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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