BUZZ-Rocket Lab rises after US, UK military programs selection

Reuters

04-15

BUZZ-Rocket Lab rises after US, UK military programs selection

** Rocket Lab's RKLB.O shares up 4.2% premarket to $19.94 after space services co said will participate in U.S. and U.K. government development programs

** Long Beach, California-based co late Mon said it was selected by U.S. Air Force to participate in $46 bln Enterprise-Wide Agile Acquisition Contract, designed for the rapid acquisition of innovative technologies, engineering services, and technical solutions

** It also said U.K Ministry of Defence selected co for $1.3 bln Hypersonic Technologies & Capability Development Framework, which aims to rapidly develop advanced hypersonic capabilities

** Across both programs, co said intends to bid for contracts and task orders served by its Hypersonic Accelerator Suborbital Test Electron launch vehicle, along with other engineering, design, and launch services

** Through Mon close, RKLB shares down 25% YTD. Stock closed at $3.53 a year ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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