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Mercury Sys

Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry. The company envisions, creates, and delivers secure open architecture solutions powering a broad range of mission-critical applications in challenging and demanding environments. Its Mercury Processing Platform spans the full breadth of signal processing from radio frequency front end to the human-machine interface to convert meaningful data, gathered in remote and hostile environments, into critical decisions. The company manufactures components, products, modules, and subsystems and sells to defense prime contractors, the U.S. government, original equipment manufacturers, and commercial aerospace companies. Geographically, it derives maximum revenue from the United States.

Mercury Systems

Mercury Systems Inc

Truist Securities analyst Michael Ciarmoli maintains Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) with a Hold and raises the price target from $35 to $44.

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Price Target

Analyst Ratings

MRCY

Truist Securities Maintains Hold on Mercury Sys, Raises Price Target to $44

Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>, <a href="https://www.globenewswire.com/Tracker?data=ui_LD30zqHXmEnsPs_wp7rVKzBHJwhMe4zoxodkeKfqEUi0ErLvPAkxyOAendvXhVmHu2TAHUpR3cHBioGGUEg==">www.mrcy.com</a>))), a technology company that delivers mission-critical processing power to the edge, today announced it was awarded a two-year, $17 million development contract from a U.S. defense prime contractor for a program that leverages its Common Processing Architecture.
For this follow-on program, Mercury will replace and upgrade the existing processing capabilities provided by another firm with the enhanced performance and security that its Common Processing Architecture delivers. With additional protection features including Mercury's <a href="https://www.globenewswire.com/Tracker?data=eUnKttXoch8seCnjNBXAa24mJznloBZb9S4xzln5B0Zeo5fa8ZvPKYm14K7SomK7E_1iFUVLLONp58xF1UCdHS3BktuAu9xcDkKNVlzcBeTLH3luL3RcsaKcaqU68PMD8xE52IM0ZN2st_BJoUjfzbiUjvG92FDt56CytQsGA9Q=">BuiltSECURE&#x2122; technology</a>, the system will be eligible for export to allied nations to support forward-deployed operations.
The award follows a separate $49 million production agreement received in the first quarter that reflects the company's progress in returning to full-rate production in its Common Processing Architecture product area.

Contracts

Mercury Systems Awarded A 2-Year, $17M Development Contract From A U.S. Defense Prime Contractor For A Program That Leverages Its Common Processing Architecture

The U.S. defense sector is bracing for turbulence in 2025 as Goldman Sachs downgraded a key player in the industry and reiterated a bearish outlook on other defense stocks, citing risks tied to a slowing Pentagon <a href="https://www.benzinga.com/topic/donald-trump">budget and margin pressures.</a>
The defense budget, which has more than doubled over the past decade, could see deceleration — or even contraction — under the watch of Donald Trump's newly formed Department of Government Efficiency led by Elon Musk and Vivek Ramaswamy. 
"We remain cautious on defense stocks as we see decelerating and potentially negative growth in the forward U.S. Department of Defense budget," Goldman Sachs analyst Noah Poponak said in a note Thursday. 
Goldman downgraded General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Neutral to Sell, citing fundamental challenges across all four of its business segments.
<h1 class="wp-block-heading">Can The Defense Budget Escape DOGE Spending Cuts?</h1>
Goldman warned that defense spending may have peaked, creating "tough compares" for future growth. 
Historically, defense spending has moved in decade-long cycles, and the current high base of investment means the next phase could be one of contraction. 
Poponak also highlighted the incoming Trump administration appears eager to wind down U.S. involvement in foreign conflicts, further reducing the case for large-scale defense spending.
Poponak indicated the Pentagon's procurement efficiency as "imperfect," which could make defense spending an attractive target for cuts. Given that defense represents a significant chunk of the federal budget, trimming it may be unavoidable as DOGE seeks to deliver cost savings.
&#8220;If DOGE wants to substantially reduce total U.S. government spending, it is hard to avoid DoD,&#8221; Goldman Sachs wrote.
<h1 class="wp-block-heading">Structural Margin Pressures And Valuation Risks</h1>
Beyond the potential for lower top-line growth, defense contractors are grappling with long-term pressures on profitability. Over the past few years, the Pentagon has tightened contractual terms, effectively shifting cost risks to contractors.
"While the rate of decline may be slowing, we think margins are now structurally lower moving forward vs. the last decade," Poponak said.
DOGE could exacerbate this trend by advocating for more fixed-price contracts, even in the early stages of programs, a move that would further constrain profitability. 
Yet despite these challenges, defense stocks as a group continue to trade above their historical valuation averages. 
"Defense stocks trade above their historical average valuation level as a group, with some individual names at their high-end and a premium to the equity market," Poponak commented. 
<h1 class="wp-block-heading">Goldman Sachs Reiterates Sell Recommendations On Defense Contractors</h1>
According to Goldman Sachs, the General Dynamics downgrade reflects weaker-than-peer growth in its Technologies division, margin pressures in Marine shipbuilding, reduced supplemental funding at Combat, and delivery challenges at Gulfstream that are weighing on profitability.
"While General Dynamics trades at a discount to Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), valuation is at a level where it could derate if earnings power is disappointing the market," Poponak said.
Goldman Sachs also trimmed the 12-month price target on General Dynamics from $283 to $245. 
Lockheed Martin, often seen as the bellwether of the defense industry, also remains on the Sell list from Goldman Sachs. 
The analyst flagged risks related to the F-35 program, which has already been named as a potential target by DOGE leadership. 
"LMT currently has a large positive net pension benefit in its free cash flow, and we expect free cash to be near flat the next several years," Poponak said, adding that the company trades at 23 times estimated 2025 earnings, a steep premium for a stock facing margin and spending risks.
Northrop Grumman holds a similar Sell rating, with Goldman expressing concerns about slowing growth in its flagship B-21 bomber program. Poponak highlighted that NOC trades at 20 times the estimated 2025 earnings and warned of "incremental margin risk" ahead.
Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>) is also struggling under margin pressures. Its shipbuilding business, plagued by labor shortages and cost overruns, could see profitability erode further, according to the investment bank. 
The company's recent results revealed weaker recurring margins than previously assumed, with guidance pointing to near-term margins as low as 5%, far below historical levels.
Goldman also reaffirmed its Sell ratings on L3 Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) and Mercury Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>), citing slower growth, operational risks, and valuation concerns.
<h1 class="wp-block-heading">Market Reactions</h1>
Shares of General Dynamics fell 1.01% on Thursday, while the broader industry — as tracked by the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) – fell 0.64%.
Lockheed Martin fell 1.52%, hitting lows last seen on July 23, 2024.
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Photo: Courtesy General Dynamics

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iShares Dow Jones US Aerospace & Defense Index Fund

Defense Stocks Face Headwinds As Trump's DOGE Targets Spending Cuts: Goldman Sachs Downgrades General Dynamics

Hedge Funds

General

Starboard Value's Q3 2024 13F Filing Reveals Complete Exits From Mercury Systems With 2.29M Shares, AECOM With 625K Shares

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Wolfe Research analyst Andy Chen downgraded the rating for Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) from Peer Perform to Underperform. Alnylam Pharmaceuticals shares closed at $279.82 on Monday. <a href="https://www.benzinga.com/quote/ALNY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Phillip Securities downgraded the rating for Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) from Neutral to Reduce and announced a $120 price target. Airbnb shares closed at $137.40 on Monday. <a href="https://www.benzinga.com/quote/ABNB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. analyst Scott Buck downgraded Phunware, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHUN#NASDAQ">PHUN</a>) from Buy to Neutral and lowered the price target from $9 to $6. Phunware shares closed at $5.99 on Monday. <a href="https://www.benzinga.com/quote/PHUN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Brad Zelnick downgraded Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) from Buy to Hold and lowered the price target from $115 to $85. Okta shares closed at $78.45 on Monday. <a href="https://www.benzinga.com/quote/OKTA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields downgraded the rating for Horace Mann Educators Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMN#NYSE">HMN</a>) from Outperform to Market Perform and raised the price target from $39 to $44. Horace Mann Educators shares closed at $42.31 on Monday. <a href="https://www.benzinga.com/quote/HMN/analyst-ratings">See how other analysts view this stock.</a></li>
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Pre-Market Outlook

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Trading Ideas

ABNB

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PHUN

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This Airbnb Analyst Turns Bearish; Here Are Top 5 Downgrades For Tuesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ad9359b85e930001f9718e/jason-wittes">Roth MKM analyst Jason Wittes </a>initiated coverage on TriSalus Life Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLSI#NASDAQ">TLSI</a>) with a Buy rating and announced a price target of $11. TriSalus Life Sciences shares closed at $4.23 on Friday. <a href="https://www.benzinga.com/quote/TLSI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/606af1536538960001bced45/james-molloy">Alliance Global Partners analyst James Molloy</a> initiated coverage on GeoVax Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) with a Buy rating and announced a price target of $15. Geovax Labs shares closed at $1.95 on Friday. <a href="https://www.benzinga.com/quote/GOVX/analyst-ratings">See how other analysts view this stock</a>.</li>
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GOVX

TLSI

This GeoVax Labs Analyst Begins Coverage On A Bullish Note; Here Are Top Initiations For Monday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>JP Morgan boosted Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) price target from $55 to $66. JP Morgan analyst Samik Chatterjee upgraded the stock from Neutral to Overweight. Cisco shares closed at $58.06 on Friday. <a href="https://www.benzinga.com/quote/CSCO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut the price target for Madison Square Garden Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) from $45 to $44. Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating. Madison Square Garden shares closed at $39.15 on Friday. <a href="https://www.benzinga.com/quote/MSGE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised the price target for Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) from $136 to $154. Morgan Stanley analyst Erik Woodring maintained an Overweight rating. Dell shares closed at $134.23 on Friday. <a href="https://www.benzinga.com/quote/DELL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies increased Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) price target from $30 to $42. Jefferies analyst Sheila Kahyaoglu upgraded the stock from Underperform to Hold. Mercury shares settled at $42.70 on Friday. <a href="https://www.benzinga.com/quote/MRCY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel raised Tempus AI, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NYSE">TEM</a>) price target from $45 to $65. Stifel analyst Daniel Arias downgraded the stock from Buy to Hold. Tempus AI shares closed at $73.77 on Friday. <a href="https://www.benzinga.com/quote/TEM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $140 to $175. Piper Sandler analyst Harsh Kumar maintained an Overweight rating. NVIDIA shares closed at $147.63 on Friday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer cut the price target for WhiteHorse Finance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHF#NASDAQ">WHF</a>) from $14 to $12. Oppenheimer analyst Mitchel Penn downgraded the stock from Outperform to Perform. WhiteHorse Finance shares settled at $11.07 on Friday. <a href="https://www.benzinga.com/quote/WHF/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham slashed Solid Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLDP#NASDAQ">SLDP</a>) price target from $3 to $2. Needham analyst Chris Pierce maintained a Buy rating. Solid Power shares closed at $1.16 on Friday. <a href="https://www.benzinga.com/quote/SLDP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler raised the price target for Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) from $25 to $35. Piper Sandler analyst Clarke Jeffries maintained a Neutral rating. Toast shares closed at $37.48 on Friday. <a href="https://www.benzinga.com/quote/TOST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stephens &amp; Co. increased PAR Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAR#NYSE">PAR</a>) price target from $70 to $83 Stephens &amp; Co. analyst Charles Nabhan maintained an Overweight rating. PAR Technology shares closed at $74.24 on Friday. <a href="https://www.benzinga.com/quote/PAR/analyst-ratings">See how other analysts view this stock</a>.</li>
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CSCO

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Nvidia To Rally More Than 18%? Here Are 10 Top Analyst Forecasts For Monday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/insights/analyst-ratings/24/11/41853118/breaking-down-affirm-holdings-16-analysts-share-their-views">BTIG analyst Vincent Caintic</a> upgraded the rating for Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) from Sell to Neutral. Upstart shares closed at $81.00 on Friday. <a href="https://www.benzinga.com/quote/UPST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wolfe Research analyst Peter Supino upgraded Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) from Underperform to Peer Perform. Warner Bros. Discovery shares closed at $9.18 on Friday. <a href="https://www.benzinga.com/quote/WBD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Jeffrey Spector upgraded the rating for Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) from Neutral to Buy and raised the price target from $35 to $40. Tanger shares closed at $35.43 on Friday. <a href="https://www.benzinga.com/quote/SKT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/585beadbb5a482000151d184/jeff-van%20sinderen">B. Riley Securities analyst Jeff Van Sinderen</a> upgraded Universal Electronics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UEIC#NASDAQ">UEIC</a>) from Neutral to Buy and raised the price target from $11 to $14. Universal Electronics shares closed at $11.09 on Friday. <a href="https://www.benzinga.com/quote/UEIC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Sheila Kahyaoglu upgraded the rating for Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) from Underperform to Hold and boosted the price target from $30 to $42. Mercury Systems shares closed at $42.70 on Friday. <a href="https://www.benzinga.com/quote/MRCY/analyst-ratings">See how other analysts view this stock.</a></li>
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Upgrades

UPST

This Upstart Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Monday

Jefferies analyst Sheila Kahyaoglu upgrades Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) from Underperform to Hold and raises the price target from $30 to $42.

Jefferies Upgrades Mercury Sys to Hold, Raises Price Target to $42

JP Morgan analyst Seth Seifman maintains Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) with a Neutral and raises the price target from $36 to $40.

JP Morgan Maintains Neutral on Mercury Sys, Raises Price Target to $40

U.S. stocks were higher, with the Dow Jones index gaining around 1,300 points on Wednesday.
Shares of Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) rose sharply during Wednesday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/MRCY/earnings">quarterly financial results.</a>
Mercury Systems reported quarterly earnings of 4 cents per share which beat the analyst consensus estimate of a loss of 8 cents per share. The company reported quarterly sales of $204.431 million which beat the analyst consensus estimate of $181.772 million.
Mercury Systems shares jumped 16.7% to $39.90 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) shares jumped 36.2% to $20.60.</li>
<li>CoreCivic, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) shares gained 28.2% to $17.47.</li>
<li>Cytek Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTKB#NASDAQ">CTKB</a>) jumped 28% to $6.96 following upbeat quarterly results.</li>
<li>Treace Medical Concepts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) shares gained 26.3% to $7.22 following strong quarterly results.</li>
<li>United Fire Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFCS#NASDAQ">UFCS</a>) surged 23.3% to $24.58 following upbeat quarterly earnings.</li>
<li>Revolve Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVLV#NYSE">RVLV</a>) gained 19.8% to $31.18 following third-quarter results.</li>
<li>Rayonier Advanced Materials Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAM#NYSE">RYAM</a>) rose 19.8% to $9.75 after posting third-quarter results.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 18.3% to $229.39.</li>
<li>ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) rose 16.6% to $121.35 following quarterly results.</li>
<li>Kennametal Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMT#NYSE">KMT</a>) gained 16.3% to $30.91 following better-than-expected quarterly earnings.</li>
<li>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) gained 16.2% to $66.03.</li>
<li>Evercore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVR#NYSE">EVR</a>) rose 15.4% to $313.80.</li>
<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) surged 15.2% to $166.57.</li>
<li>Piper Sandler Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NASDAQ">PIPR</a>) rose 15.1% to $334.57.</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) surged 14.9% to $28.68.</li>
<li>Qualys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) gained 13.6% to $145.65 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance.</li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) gained 12.8% to $187.38.</li>
<li>Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) surged 12.8% to $153.07.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 12.6% to $282.93 following Trump win.</li>
<li>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) gained 12.4% to $592.23.</li>
<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) surged 10.7% to $61.26 following strong quarterly revenue.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too Hig</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">h</a>&#8216;</li>
</ul>

Intraday Update

Movers

ARCB

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Mercury Systems Posts Strong Results, Joins ArcBest, Tesla, Kennametal, Qualys And Other Big Stocks Moving Higher On Wednesday

WIIM

Mercury Systems shares are trading higher after the company reported better-than-expected Q1 financial results.

<h3>Gainers</h3>
<ul>
<li>GEO Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) stock rose 23.1% to $18.63 during Wednesday's pre-market session. The company's market cap stands at $2.6 billion. </li>
<li>American Rebel Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares rose 19.71% to $3.34. The market value of their outstanding shares is at $3.6 million. </li>
<li>CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) shares increased by 19.58% to $16.3. The company's market cap stands at $1.7 billion. As per the press release, Q3 earnings came out today. </li>
<li>Babcock &amp; Wilcox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) shares moved upwards by 19.02% to $2.69. The market value of their outstanding shares is at $248.0 million. </li>
<li>Safe &amp; Green Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) stock moved upwards by 14.7% to $1.0. The market value of their outstanding shares is at $2.0 million. </li>
<li>Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) shares increased by 13.36% to $38.76. The market value of their outstanding shares is at $2.3 billion. As per the press release, Q1 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Vast Renewables (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTE#NASDAQ">VSTE</a>) shares fell 44.0% to $3.0 during Wednesday's pre-market session. The company's market cap stands at $89.9 million. </li>
<li>Zoomcar Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) stock fell 40.91% to $7.8. The company's market cap stands at $5.9 million. </li>
<li>Li-Cycle Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NYSE">LICY</a>) shares fell 25.79% to $2.82. The company's market cap stands at $65.4 million. </li>
<li>Simpple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPPL#NASDAQ">SPPL</a>) shares declined by 17.76% to $1.39. The market value of their outstanding shares is at $22.5 million. </li>
<li>Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) stock decreased by 16.03% to $14.2. The company's market cap stands at $3.1 billion. </li>
<li>Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) stock decreased by 15.48% to $2.13. The market value of their outstanding shares is at $1.8 billion. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AREB

LICY

PLUG

SGBX

SPPL

VSTE

ZCAR

12 Industrials Stocks Moving In Wednesday's Pre-Market Session

Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) reported quarterly earnings of $0.04 per share which beat the analyst consensus estimate of $(0.08) by 150 percent. The company reported quarterly sales of $204.431 million which beat the analyst consensus estimate of $181.772 million by 12.47 percent. This is a 12.95 percent increase over sales of $180.991 million the same period last year.

Earnings

Earnings Beats

Mercury Sys Q1 2025 Adj. EPS $0.04 Beats $(0.08) Estimate, Sales $204.431M Beat $181.772M Estimate

JP Morgan analyst Seth Seifman maintains Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) with a Neutral and raises the price target from $26 to $36.

JP Morgan Maintains Neutral on Mercury Sys, Raises Price Target to $36

Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">HighPeak Energy</h3>
<ul>
<li>The Trade: HighPeak Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPK#NASDAQ">HPK</a>) CEO Jack Hightower <a href="https://www.benzinga.com/quote/hpk/analyst-ratings">acquired a total of 132,487 shares at</a> an average price of $15.45. To acquire these shares, it cost around $2.05 million.</li>
<li>What's Happening: On Aug. 5, HighPeak Energy posted downbeat quarterly results.</li>
<li>What HighPeak Energy Does: HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in Howard County of the Midland Basin.</li>
</ul>
<h3 class="wp-block-heading">Mercury Systems</h3>
<ul>
<li>The Trade: Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) 10% owner Jana Partners Management, LP acquired a total of 13,600 shares at an average price of $37.25. To acquire these shares, it cost around $506,600.</li>
<li>What's Happening: On Aug. 19, Alembic Global analyst Peter Skibitski upgraded Mercury Systems from Neutral to Overweight.</li>
<li>What Mercury Systems Does: Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.</li>
</ul>
<h3 class="wp-block-heading">MYR Group</h3>
<ul>
<li>The Trade: MYR Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) Director Bradley Thede Favreau <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,005 shares</a> at an average price of $99.70. To acquire these shares, it cost around $100,199.</li>
<li>What's Happening: On July 31, MYR Group reported worse-than-expected quarterly financial results.</li>
<li>What MYR Group Does: MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. </li>
</ul>
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MYRG

Around $2M Bet On HighPeak Energy? Check Out These 3 Stocks Executives Are Buying

Alembic Global analyst Peter Skibitski upgrades Mercury Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) from Neutral to Overweight and announces $48 price target.

Alembic Global Upgrades Mercury Sys to Overweight, Announces $48 Price Target

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the S&amp;P 500 recording gains for the fifth straight session following the release of inflation data.
On the economic data front, headline CPI inflation fell from 3% in June to 2.9% in July 2024 on a year-over-year basis, falling short of the consensus forecast of 3% tracked by TradingEconomics. On a monthly basis, inflation increased by 0.2% in July, rebounding from the previous month's contraction of 0.1% and matching estimates of 0.2%.
Shares of Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) jumped around 18% on Wednesday after the company reported better-than-expected fourth-quarter financial results. Performance Food Group Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>) shares gained around 8% on Wednesday following the release of quarterly results.
Most sectors on the S&amp;P 500 closed on a positive note, with financials, information technology and energy stocks recording the biggest gains on Wednesday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 243 points to 40,008.39 on Wednesday. The S&amp;P 500 rose 0.38% to 5,455.21, while the Nasdaq Composite gained 0.03% at 17,192.60 during Wednesday's session.
Investors are awaiting earnings results from Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 26.1, the index remained in the &#8220;Fear&#8221; zone on Wednesday, versus a prior reading of 25.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40368892/jim-cramer-avoid-middle-market-plays-like-golub-capital-buy-mueller-industries-it-is-fan"> </a>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40368892/jim-cramer-avoid-middle-market-plays-like-golub-capital-buy-mueller-industries-it-is-fan">Jim Cramer: &#8216;Avoid Middle Market Plays&#8217; Like Golub Capital, Buy Mueller Industries — &#8216;It Is Fantastic&#8217;</a></li>
</ul>

BABA

PFGC

S&P 500, Dow Jones Gain For 5th Straight Session Following Inflation Report: Greed Index Remains In 'Fear' Zone

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining around 250 points on Wednesday.
The Dow traded up 0.65% to 40,022.71 while the NASDAQ fell 0.20% to 17,153.85. The S&amp;P 500 also rose, gaining, 0.24% to 5,447.57.
Leading and Lagging Sectors Financials shares climbed by 1.1% on Tuesday.
In trading on Tuesday, communication services shares fell 1.3%.
Top Headline
UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) posted strong second-quarter earnings.
UBS Group reported second-quarter FY24 sales of $11.9 billion, up 25% Y/Y, beating the consensus of $11.3 billion.
Underlying operating profit before tax reached $2.06 billion, significantly higher than $891 million a year ago. EPS of 34 cents beat the consensus of 12 cents.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Avalon Globocare Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALBT#NASDAQ">ALBT</a>) shares shot up 119% to $0.5754 after the company announced its Laboratory Services MSO, LLC has begun manufacturing the GeeWhiz external male catheter.</li>
<li>Shares of Digital Ally Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGLY#NASDAQ">DGLY</a>) got a boost, surging 72% to $1.4436 after the company was granted a U.S. Patent for tracking and analysis of drivers within a fleet of vehicles.</li>
<li>Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) shares were also up, gaining 18% to $40.08 after the company reported better-than-expected fourth-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Ouster Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) shares dropped 26% to $8.07 after the company reported worse-than-expected second-quarter sales results and issued third-quarter revenue guidance below estimates.</li>
<li>Shares of Verrica Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRCA#NASDAQ">VRCA</a>) were down 35% to $3.4392. On Wednesday, dermatology drug developer Verrica Pharmaceuticals released preliminary results from Part 2 of its Phase 2 trial of VP-315 for basal cell carcinoma.</li>
<li>European Wax Center Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) was down, falling 28% to $5.01 after the company reported second quarter fiscal year 2024 results and named David Berg as Chief Executive Officer.</li>
</ul>
Commodities In commodity news, oil traded down 1.5% to $77.14 while gold traded down 1.1% at $2,480.10.
Silver traded down 1.5% to $27.37 on Wednesday, while copper fell 0.3% to $4.0410.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 rose 0.49%, Germany's DAX rose 0.41% and France's CAC 40 rose 0.79%. Spain's IBEX 35 Index rose 0.27%, while London's FTSE 100 rose 0.56%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 jumping 0.58%, Hong Kong's Hang Seng Index falling 0.35%, China's Shanghai Composite Index falling 0.60% and S&amp;P BSE Sensex rising 0.19%.
Economics
<ul>
<li>Headline CPI inflation fell from 3% in June to 2.9% in July 2024 on a year-over-year basis, falling short of the consensus forecast of 3% tracked by TradingEconomics.</li>
<li>On a monthly basis, inflation increased by 0.2% in July, rebounding from the previous month&#8217;s contraction of 0.1% and matching estimates of 0.2%.</li>
<li>U.S. crude oil inventories rose by 1.357 million barrels in the week ending Aug. 9, ending a six-week streak of declines. </li>
</ul>
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</ul>

Eurozone

Commodities

ALBT

DGLY

EWCZ

OUST

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Crude Oil Down Over 1%; Mercury Systems Shares Spike Higher

Mercury Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrcy#NASDAQ">MRCY</a>) reported fourth-quarter fiscal 2024 results, wherein both top and bottom lines beat the Zacks Consensus Estimate.
The aerospace and defense tech firm reported non-GAAP earnings of 23 cents per share against the Zacks Consensus Estimate of a loss of 7 cents. The bottom line surged 109.1% year over year.
Mercury Systems&#39; non-GAAP revenues decreased 1.8% to $248.6 million. The top line beat the consensus mark by 11.7%.
The results reflected solid progress in each of the priority focus areas, with highlights that include retiring risk across remaining challenged programs and returning to pilot production on the common processing architecture area.
<div class="chart_embed">
<h3>Mercury Systems Inc Price, Consensus and EPS Surprise</h3>
<img alt="Mercury Systems Inc Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/98/1723632909.png" style="height:287px; width:620px" title="" />
Mercury Systems Inc price-consensus-eps-surprise-chart | Mercury Systems Inc Quote
</div>
<h3>Q4 in Details</h3>
Mercury Systems&#39; total bookings were $284.4 million, yielding a book-to-bill ratio of 1.14 for the quarter.
MRCY&#39;s total backlog as of Jun 28, 2024, was $1.33 billion, reflecting an increase of $185.9 million from the year-ago quarter&#39;s reported figure. As of Jun 28, 2024, total backlog of $758.9 million represented orders expected to be recognized as revenues within the next 12 months.
Mercury Systems&#39; gross profit was $73.2 million, up 8.6% year over year. Moreover, its gross margin expanded 280 basis points (bps) to 29.5%.
Total operating expenses increased 6.4% to $81.18 million. As a percentage of revenues, operating expenses increased 250 bps to 32.7%.
The company reported an adjusted EBITDA of $31.16 million, up 42.1% year over year. The margin expanded 390 bps to 12.5%.
<h3>Balance Sheet &amp; Cash Flow</h3>
As of Jun 28, 2024, MRCY&#39;s cash and cash equivalents were $180.52 million compared with $142.6 million as of Mar 29, 2024. The long-term debt as of Jun 28, 2024, was $591.5 million.
Cash flows provided by operating activities in the fourth quarter of fiscal 2024 were $71.8 million compared with $12.6 million in the year-ago quarter. Free cash flow was $61.4 million for the fourth quarter of fiscal 2024 compared with $3.8 million in the year-ago period.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Currently, Mercury Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader Computer and Technology sector are Applied Materials, Bilibili&nbsp;and NetApp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntap#NASDAQ">NTAP</a>), each carrying a Zacks Rank #2 (Buy) at present.
Shares of Applied Material have risen 24.1% year to date. AMAT is set to report second-quarter 2024 results on Aug 15.
Shares of Bilibili have surged 14.9% year to date. BILI is slated to report second-quarter 2024 results on Aug 22.
Shares of NetApp have rallied 42.8% year to date. NTAP is set to report second-quarter 2024 results on Aug 28.
<a href="https://www.zacks.com/stock/news/2322191/mercury-systems-mrcy-q4-earnings-revenues-beat-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2322191">To read this article on Zacks.com click here.</a>

Tech

NTAP

Mercury Systems Q4 Earnings & Revenues Beat Estimates

Starboard Value adds Autodesk, cuts GoDaddy, others in Q3

Jeffrey Smith's Starboard Value disclosed in an SEC filing its holdings as of September 30, 2024. Starboard's two new buys during the third quarter...

Starboard takes new stakes in Autodesk, Match Group

Global Aerospace, Defense & Airlines Analysts Kahyaoglu & Lemarie discuss AVAV downgrade, MRCY upgrade, CAE (CAE), SARO, LOAR, BAESY and TGI EPS, H...

Jefferies aerospace & defense analysts hold analyst/industry conference call

The airline sector has the cheapest valuations vs. history

Mercury Systems (MRCY) "announced it was awarded a two-year, $17M development contract from a U.S. defense prime contractor for a program that leve...

Mercury Systems awarded two-year $17M development contract

Mercury secures $17M new development contract

An announcement from Mercury Systems ( ($MRCY) ) is now available. Mercury Systems announced changes to its Board of Directors with the departure o...

Mercury Systems Updates Board with Strategic Appointment

Mercury Systems (MRCY) announced the departure of Roger Krone from its Board of Directors and the appointment of new Independent Director Jean Bua....

Mercury Systems: Roger Krone departs board, Jean Bua appointed new director

Truist raised the firm's price target on Mercury Systems (MRCY) to $44 from $35 and keeps a Hold rating on the shares as part of a broader research...

Mercury Systems price target raised to $44 from $35 at Truist

Mercury Systems (MRCY) announced that Robin Milton has joined Mercury as the company's chief marketing and communications officer. Reporting to the...

Mercury Systems names Robin Milton chief marketing, communications officer

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MTUAY

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Press Releases

Mercury To Provide Upgraded Processing Power for Refueling System on U.S. Air Force's KC-46A Tanker Fleet

Mercury Systems to Report First Quarter Fiscal Year 2025 Financial Results on November 5, 2024

Mercury Selected by NAVAIR To Continue To Provide Advanced Data Transfer Systems for Navy Aircraft

Mercury Systems Reports First Quarter Fiscal 2025 Results

Opinion

Three Companies Fighting Back Against China's Rare Earth Dominance

Mercury Introduces Digital Signal Processing Products Powered by Altera's Newest Agilex™ 9 FPGAs

Mercury Wins New Development Program That Leverages Its Common Processing Architecture

Management

Mercury Systems Announces Board of Directors Update

Mercury Systems to Report Second Quarter Fiscal Year 2025 Financial Results on February 4, 2025

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