$MDA

Research Alert: CFRA Initiates Coverage On Shares Of Mda Space, Ltd. At Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We have a bullish view on the space economy and MDA's leading position in Canada and the space robotics arena. Our 12-month target price of CAD71 is derived from a 22x EBITDA multiple applied to our FY 27 estimate. With the SpaceX IPO, Artemis missions, and progress in AI compute in space, the space economy is projected to surpass $1T in the next decade and reach $2T by 2040. Currently, MDA's satellite systems generate the lion's share of revenues; however, as space infrastructure matures, we are bullish on its orbital manipulation abilities via Canadarm3, MDA SKYMAKER, and MDA MIDNIGHT. A recent NYSE IPO pushed it into a net cash position, and as a more mature, profitable player in the space sector, it has the potential to expand its valuation multiple, in our view. MDA trades significantly above its three-year forward EBITDA average of 10.1x, but relative to pure-play space names (RKLB, RDW, and SPCX), shares are significantly discounted. Our FY 26 adjusted EPS is CAD1.43 and our FY 27 estimate is CAD1.59.

Market Chatter: Redwire, Other Space-Related Stocks Lifted by Optimism on SpaceX's Upcoming IPO

Redwire (RDW) and other space and satellite-related stocks surged in afternoon trading on Tuesday as investors' positive outlook on the sector was intensified after Elon Musk's SpaceX filed for an initial public offering last week, Bloomberg reported Tuesday.Redwire shares jumped 27%, AST SpaceMobile (ASTS) stock was up 19%, Firefly Aerospace (FLY) shares rose 18%, and MDA Space (MDA) stock was up 5.9%.Analysts and investors expect the global space economy to continue to grow, with firms well-positioned in the space industry set to benefit, according to the report.SpaceX's IPO could potentially occur as early as next month, and it is targeting to raise as much as $75 billion, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $22.36, Change: $+4.87, Percent Change: +27.82%

MDA Space Poised for Defense Contract Wins to Support Growth Into 2027, RBC Says

MDA Space (MDA) is expected to continue benefiting from investor confidence in its defense opportunities, with potential contract awards in H2 seen to support accelerating growth into 2027 and provide a catalyst for the stock, RBC Capital Markets said in a note Friday.Management expects the opportunities to develop as both a satellite payload provider and a merchant supplier across the Satellite Systems offering, the brokerage said, adding that MDA remains positioned to benefit from its role as a "Canadian national defense champion."The brokerage said the Satellite Systems segment, which delivered 41% growth in Q1, remains the key source of growth.RBC maintained its outperform rating on the stock and raised the price target to 58 Canadian dollars ($42) from C$50.Shares of the company were up 5.9% in Monday trading.Price: $36.65, Change: $+2.04, Percent Change: +5.88%

MDA Space Price Target Raised By $8 at RBC

RBC Capital Markets raised its price target on MDA Space Ltd. (MDA.TO, MDA) to $58 from $50.Analyst Ken Herbert maintained an Outperform rating on shares of the Canadian space technology developer and manufacturer following its quarterly results."MDA Space reported strong 1Q26 growth up 32%, 12% ahead of consensus," Herbert said in a May 8 note to clients."Adjusted EBITDA in the quarter was $90.6 Million (19.5% margins), also ahead of consensus by 15%. The 1Q26 bookings were light (book-to-bill of just ~0.3x), with our view remaining that 2H26 order activity to support an acceleration in the 2027 growth is important for sentiment on the stock," the analyst said."The company sounds increasingly optimistic on its defense opportunities, which we view as a positive," Herbert said. "The key Lightspeed and GlobalStar contracts are on track."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Corporate Earnings, Economic Data Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid a deluge of corporate earnings results and economic data.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.US layoff intentions rose in April, led by the technology sector due to increased use of AI, outplacement firm Challenger, Gray & Christmas reported Thursday.US initial jobless claims rose to a level of 200,000 in the week ended May 2 from an upwardly revised 190,000 level in the previous week, compared with expectations for a larger increase to 205,000 in survey of analysts compiled by Bloomberg.Nonfarm productivity rose by 0.8% in Q1 after a downwardly revised 1.6% increase in Q4, above expectations for a 0.6% gain in a survey compiled by Bloomberg as of 7:40 am ET, data released by the Bureau of Labor Statistics showed.Construction spending data for February and March will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.The consumer credit data for March posts at 3 pm ET.Minneapolis Fed President Neel Kashkari and New York Fed President John Williams are slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.MDA Space (MDA) stock was up more than 8% before the opening bell after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) retreated 0.3%, while the iShares US Healthcare ETF (IYH) slipped 1.5%. The iShares Biotechnology ETF (IBB) was 0.8% higher.Viatris (VTRS) stock was down more than 3% premarket after gaining 2.8% at the prior close. The company reported higher Q1 financial results and reaffirmed its 2026 guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Carlyle (CG) shares were down more than 3% pre-bell after the company reported lower Q1 after-tax distributable earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.01%, and the iShares US Technology ETF (IYW) was 0.03% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.03%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.Alphabet (GOOG, GOOGL) shares were up more than 2% in premarket activity after closing the prior session with a 2.8% rise. Bloomberg reported that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.03%, while the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was 0.6% higher, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Tesla (TSLA) shares were up more than 1% pre-bell after Reuters reported the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.1% lower.Shell (SHEL) stock was down more than 1% before the opening bell after the company reported lower-than-expected Q1 revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $91.97 per barrel on the New York Mercantile Exchange. Natural gas was down by 1% at $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.3%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May gained by 1.2% to reach $4,748.30 an ounce on the Comex. Silver futures advanced by 5.4% to $81.44 an ounce. SPDR Gold Shares (GLD) was 1% higher, and the iShares Silver Trust (SLV) rose by 4.7%.

MDA Space Q1 Adjusted Net Income, Revenues Rise; Reaffirms 2026 Full-Year Financial Outlook

MDA Space (MDA.TO, MDA) reported higher adjusted net income and revenues in the first quarter, and reaffirmed its 2026 full-year financial outlook, the company said on Thursday.First quarter adjusted net income was C$50.7 million, compared to $38.4 million in the corresponding year-ago quarter, increasing 32% year-over-year driven by the higher gross margin, partially offset by investments in SG&A and R&D, the company said.Adjusted diluted earnings per share for the quarter was $0.38 per share, up from $0.30 per share in the year-ago quarter, as a result of the higher adjusted net income, partially offset by higher average diluted shares outstanding due to a recent equity issuance related to the US IPO, stated the company.First quarter revenues rose to $464.1 million, up 32.2% from $351 million in the year-ago quarter, driven by higher volumes across all business areas in the quarter, added the company. The consensus estimates compiled by FactSet for sales was $413.8 million.The company also reaffirmed its 2026 full-year financial outlook."We continue to see the speed at which defence spending and demand for new space capability is shaping the market," said Mike Greenley, Chief Executive Officer of MDA Space. "In March, we announced a contract with Canada's Defence Investment Agency to deliver three Ground-Based Optical observatories to support space domain awareness for the Department of National Defence. In April, underpinned by the investments we have made in our next generation commercial and dual-use product portfolio, we launched MDA MIDNIGHT, a space control platform ideally timed to deliver capabilities urgently needed by defence departments to protect critical space infrastructure.""Equally evident was focused execution across the business with our first set of Globalstar satellites signed off and delivered to Florida for the upcoming launch, and the first shipments of our space-grade chips received for integration into MDA Aurora," added the CEO.

Earnings Flash (MDA) MDA Space Reports Q1 Revenue $464.1M, Up 32% YoY; Reaffirmed FY26 Financial Outlook

Earnings Flash (MDA) MDA Space Posts Q1 Adjusted Diltuted EPS $0.38 per Share, Up 26.9% YoY

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Trump Prepares to Block Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Monday's premarket activity after US President Donald Trump said the US will block the Strait of Hormuz following unsuccessful negotiations with Iran over the weekend.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 1%, and Nasdaq futures retreating 0.7% before the start of regular trading.The existing home sales data for March will be released at 10 am ET.Federal Reserve Governor Stephen Miran is slated to speak on Monday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower, Ether ETF (EETH) retreated 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was down 0.7%.Spyre Therapeutics (SYRE) stock was up more than 24% premarket after the company said that its SPY001 investigational drug to treat moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%. The iShares US Consumer Staples ETF (IYK) was up 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.Leggett & Platt (LEG) shares were up more than 8% pre-bell after Somnigroup International (SGI) agreed to acquire Leggett & Platt in an all-stock deal valued at about $2.50 billion. Somnigroup stock was down 1.7% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.8% lower, while the iShares Semiconductor ETF (SOXX) declined by 1%.ON Semiconductor (ON) shares were up more than 3% in premarket activity after BofA Securities upgraded the company's stock to buy from neutral.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell by 1%. Direxion Daily Financial Bull 3X Shares (FAS) declined by 2.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.9% higher.Lloyds Banking Group (LYG) shares were down more than 2% pre-bell after the company said it is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) fell 0.8% and the iShares US Industrials ETF (IYJ) was 0.4% lower.MDA Space (MDA) stock was up more than 1% before the opening bell after the company introduced a space control platform aimed at helping defense organizations monitor, protect, and secure critical space infrastructure.EnergyThe iShares US Energy ETF (IYE) was up 1.7%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.9%.Baker Hughes (BKR) stock was up more than 1% before Monday's opening bell after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.CommoditiesFront-month US West Texas Intermediate crude oil rose by 8% to $104.27 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.5% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 7.4%, while the United States Natural Gas Fund (UNG) was 1.9% higher.Gold futures for May were down by 1.2% at $4,728.90 an ounce on the Comex. Silver futures fell by 3.1% to $74.11 an ounce. SPDR Gold Shares (GLD) was 1% lower, and the iShares Silver Trust (SLV) advanced by 2.8%.