Maxar Technologies stock takes off after landing Air Force contract

WESTMINSTER  — Maxar Technologies Inc. (NYSE: MAXR) secured a $14.2 million contract from the U.S. Air Force, spurring a spike in its stock price Monday morning.

In a press release, the Westminster-based aerospace company said it won a contract to build an automated geospatial intelligence analysis system dubbed “Red Wing” for the Air Force Research Laboratory near Dayton, Ohio.

The system is supposed to automate analyzing some portions of raw data without requiring direct effort from an intelligence analyst.

“Red Wing will help to rapidly equip the warfighter with actionable insights to solve dynamic and complex intelligence problems at scale,” Tony Frazier, Maxar’s executive vice president of global field operations, said in the release.

Investors bought Maxar stock on the news, with the stock closing at $8.14 per share Monday for a 7.67 percent increase.

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