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Defence & Space:
What changed in defence and space, and why it mattered.
- 01
Thales raised its sales outlook after nine-month revenue and orders beat estimates.
Orders ahead of forecasts show demand for European defence and aerospace electronics is feeding through to the order book, not just to budgets. It points the reader to the electronics part of the chain, where Thales sits, and to the primes that buy from it.
Electronics· HO.PA·Source 1·Source 2
Screener matches in Electronics and Primes · Thursday's close, 22 Oct
- Shortlisted
All six checks pass, with the price 9.7% above a flat 200-day average.
- Shortlisted
Dassault AviationAM.PA
All five checks on file pass, with the price 1.7% above a flat 200-day average. One check has no data.
- 02
RTX and GE Aerospace both pointed to a stronger outlook on their third-quarter calls: RTX on its defence backlog and 2026, GE on services.
RTX's backlog and higher 2026 outlook show defence demand is still being booked. GE's higher services outlook points to money coming from servicing engines already in use. Both feed down to engine and component suppliers.
Primes · Aero engines· RTX, GE·Source 1·Source 2·Source 3
Screener matches in Aero engines and Primes · Thursday's close, 22 Oct
- Shortlisted
MTU Aero EnginesMTX.DE
All six checks pass, with the price at a flat 200-day average.
- Shortlisted
All six checks pass, with the price 9.7% above a flat 200-day average.
- 03
Teledyne raised its full-year 2026 earnings outlook, with non-GAAP earnings per share now $25.40 to $25.50, up from $24.45 to $24.65.
Teledyne makes sensors and imaging equipment used in defence and space systems. A raise like this suggests demand for that kind of equipment is healthy, which bears on other electronics suppliers.
- 04
Space stocks rose together, led by Firefly Aerospace, SpaceX, EchoStar and Rocket Lab, and SpaceX filed results the same week.
The gains were wide across space names, but the sector as a whole is still weak, so this looks like a bounce within a soft group rather than a clear turn. SpaceX combines launch, Starlink and more under one listing, so its move cannot be read alone as space being up. AST SpaceMobile's target of initial satellite broadband coverage in five countries by the end of 2026 is a goal, not a finished milestone.
Space· FLY, SPCX, ECHO, RKLB, LUNR, RDW, ASTS·Source 1·Source 2
Closest to a screener match in Space · Thursday's close, 22 Oct
- Not a match
KarmanKRMN
Three checks short of a pick.
- Not a match
Two checks short of a pick.
Published 22/10/2026, 08:05 UTC · claude-sonnet-5-5