AeroVironment stock jumps on $1.1 billion backlog, defense orders
Military drone maker AeroVironment rose 4% after reporting a funded backlog of $1.1 billion, up from $726.6 million in April. Q1 revenue doubled to $454.7 million, beating estimates, while earnings met forecasts. The firm won a $95 million US Army missile contract and a $240 million laser communications order, chasing over $20 billion in defense programs like Golden Dome.