Teledyne Qioptiq Exercises $21M German Army Option for Thermal Sights
TDY sits 26% above its 52-week low of $483.02.
Summary
Teledyne Qioptiq received the first option from the German Bundeswehr for PHOENIX-XR cooled weapon sights, valued at more than $21 million. This is part of the previously announced framework agreement worth up to $175 million. Upon completion of this tranche, the company will have delivered over 1,000 units to the German Ministry of Defence. The award marks the largest European procurement of cooled thermal weapon sights in Teledyne Qioptiq's history. Shares rose $3.27 to $610.46 on the news.
At the time of this announcement, TDY was trading at $607.94 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $28.2B. The 52-week trading range was $483.02 to $697.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BayStreet.