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OHB vs RTX: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

OHB SE (OHB.XETRA)

RTX Corporation (RTX)

Q3 2026
▲2▼2

RTX Soars on Record Backlog and Massive Missile Wins

  • Record $289B backlog and major contract wins RTX won a $22.9B Tomahawk award and $20.7B for AMRAAM, pushing its backlog to a record $289B. These deals lock in years of future revenue and drove the stock higher.

    This is the biggest new positive driver, showing surging demand and a growing order book.

  • Strong Q2 results and raised guidance Q2 beat expectations, 2026 EPS guidance rose to $7.10–7.25, and free cash flow is projected near $8.6B. Pratt & Whitney aftermarket growth and $6.3B in extra munitions funding supported the beat.

    This shows the company's current financial health and improved outlook, which directly lifted the stock.

  • Budget and program risks threaten future funding A stalled $1.5T Pentagon budget could delay funding, while F-35 cost overruns ($536B) and upgrade delays threaten future orders. These uncertainties weighed on the stock.

    This is a key counterweight, showing that despite strong demand, funding and program issues pose real risks.

  • Macro and geopolitical pressures hit shares Oil above $100 and rate-hike odds pressured commercial aerospace, while easing Iran tensions cut shares 3%. Potential U.S. restrictions on Bombardier also endanger Collins avionics revenue.

    These external factors created headwinds that partially offset the positive contract news.

September 2026
▲3▼1

RTX Backlog Hits Record on Missile Wins, But Geopolitical Calm and Bombardier Risk Weigh

  • Record $289B Backlog and Major Missile Awards RTX's backlog reached a record $289B, powered by new contracts like $20.7B for AMRAAM and $24.4B for SM-6, plus a $472M Chinook deal. This gives long-term revenue visibility and supports future growth.

    It shows the core positive driver of demand and order momentum in the period.

  • Strong Cash Flow and Aftermarket Growth RTX guided to about $8.6B in free cash flow for 2026, and Pratt & Whitney's aftermarket business grew with shop visits up 26% and sales of $32.9B. This signals healthy operations and cash generation.

    It highlights the financial strength and operational performance that support the stock.

  • Defense Bill Adds $6.3B for Munitions The FY2026 defense bill includes an extra $6.3B for munitions, which directly benefits RTX's missile programs. This government spending boost reinforces demand for its products.

    It shows a concrete policy tailwind that supports RTX's revenue outlook.

  • Geopolitical De-escalation and Bombardier Restrictions RTX shares fell 3% as easing Iran tensions reduced the geopolitical risk premium, showing defense stocks can lose momentum when conflicts cool. Also, potential U.S. restrictions on Bombardier sales threaten Collins avionics revenue.

    It captures the main negative forces that tempered the stock's performance in the period.

Latest
▲3▼1

RTX Wins Record Missile Contracts, but Geopolitical Risk Premium Fades

  • Raytheon Wins $20.7B AMRAAM Contract Raytheon won a five-year contract worth up to $20.7 billion to build AMRAAM missiles, with production targets raised to at least 1,900 per year. This locks in years of revenue and shows strong demand for RTX weapons.

    This is a major new contract that directly boosts future revenue and is a key driver of the stock.

  • RTX Wins $24.4B SM-6 Missile Contract RTX won a five-year contract worth up to $24.4 billion to produce SM-6 interceptors for the U.S. Navy. This adds another large, long-term revenue stream and reflects rising demand for missile defense.

    This is a new, large contract that significantly adds to RTX's backlog and future sales.

  • Defense Bill Boosts Munitions Funding The FY2026 defense bill includes over $6.3 billion for 13 critical munitions and multiyear procurement authority, benefiting RTX's AMRAAM, Standard Missile, and Tomahawk programs. This provides steady funding and supports production expansion.

    This is new legislation that directly funds RTX's key missile programs, supporting revenue growth.

  • Geopolitical Risk Premium Fades on Iran Signal RTX fell 3% after Iran offered to reopen the Strait of Hormuz, reducing the fear premium that had boosted defense stocks. This shows how quickly military tensions can ease and pull defense shares down.

    This is a new negative event that explains recent price weakness and highlights a key risk for defense stocks.

▲3▼1

RTX Backlog Hits $289B as Missile and Engine Demand Surges

  • Record $289B Backlog and Strong Cash Flow Outlook CEO Calio said RTX's backlog is about $289 billion, excluding five major munitions framework deals and the $23 billion Tomahawk contract. He guided to roughly $8.6 billion of 2026 free cash flow and 19%-20% Collins margins, signaling years of steady sales and cash generation.

    This is the clearest new big-picture signal of RTX's growth runway and financial health.

  • New Defense Contracts and International Demand RTX won a $472 million Chinook avionics contract, completed NASAMS delivery to Australia, and the Pentagon added SM-3 interceptor work. A proposed $24.3 billion F-35 sale to Saudi Arabia includes 49 Pratt & Whitney F135 engines. These add future revenue and show global demand for RTX weapons and engines.

    These fresh awards and foreign sales directly expand RTX's order book and revenue visibility.

  • Pratt & Whitney Aftermarket and Engine Expansion Pratt & Whitney's GTF aftermarket network grew to 21 facilities and shop visits rose 26%, driving recurring maintenance revenue. Pratt also licensed Hermeus to build F100 fighter engines, adding U.S. production capacity. Pratt sales rose to $32.9 billion from $28.1 billion, with operating profit up to $2.6 billion.

    This shows RTX's commercial engine business is growing profitably and adding capacity for future demand.

  • Trade Tensions Threaten Bombardier Avionics Sales A potential U.S. ban on Bombardier aircraft sales could hurt RTX's Collins Aerospace, which supplies avionics for Bombardier's Global and Challenger jets. The U.S. is Bombardier's largest market, and a ban could disrupt a supply chain involving thousands of U.S. companies, creating uncertainty for RTX's avionics revenue.

    This is the main counterweight in the period, showing a real risk to part of RTX's business.

August 2026
▲2▼2

RTX Rides Defense Demand Surge, But Budget and F-35 Risks Loom

  • Raytheon Wins $22.9B Tomahawk Contract Raytheon won a seven-year, $22.9B Tomahawk contract, raising annual output from 60 to over 1,000 missiles and adding roughly $3.3B in yearly revenue. This significantly boosts RTX's long-term backlog and revenue visibility.

    This is the largest new contract win in the period, directly driving RTX's revenue growth and backlog.

  • Additional Defense Awards and Expansion RTX also secured $1.28B for SM-3 IIA and TOW missiles, F135 engine work, missile testing, and a $50M Mississippi plant expansion. These wins reinforce strong demand across multiple defense programs.

    These additional contracts and investments show broad-based demand and capacity expansion, supporting future growth.

  • Stalled Pentagon Budget Delays Funding A stalled $1.5T Pentagon budget and political disputes could delay funding for defense programs. This creates uncertainty for RTX's revenue timing and order flow.

    This is a key risk that could slow down the positive momentum from new contracts.

  • F-35 Cost Overrun and Upgrade Delays The F-35 program's cost overrun has grown to $536B, with upgrade delays that may pressure RTX's future orders or pricing. This poses a risk to a major revenue source.

    This is a significant program-specific risk that could impact RTX's financials and future contracts.

▲3▼1

RTX Lands $22.9B Tomahawk Deal, Expands Missile and Engine Work

  • Raytheon's $22.9B Tomahawk Contract Raytheon won a seven-year, $22.9 billion Navy contract to boost Tomahawk production from 60 to over 1,000 missiles a year. This locks in roughly $3.3 billion in annual revenue, directly lifting RTX's backlog and future sales.

    This is the single largest new order and the main reason RTX is moving.

  • New Missile and Engine Contracts Raytheon began testing a new long-range air-to-air missile, Collins finished altitude testing on an F-35 cooling system, and RTX won a $240.75 million Navy contract for F135 engine work. These add future revenue and keep RTX tied to key defense programs.

    These are fresh contract wins and technology milestones that support future growth.

  • Raytheon Expands Mississippi Plant Raytheon completed a $50 million expansion of its Forest, Mississippi plant, adding 100 jobs and capacity for electronic warfare and radar systems. This helps RTX produce more of the gear the Pentagon urgently wants, supporting future sales.

    It shows RTX investing to meet demand, which supports revenue growth.

  • F-35 Cost Overrun Raises Questions The F-35 program's acquisition cost rose by $51 billion to $536 billion, with delays in upgrades. As a major supplier, RTX could face pressure on future orders or pricing, though the program remains huge and long-term.

    It is the main counterweight to the positive news and affects RTX's F-35 work.

▲3

Pentagon Pushes RTX to Speed Missile Output as Orders Flow

  • Pentagon demands faster weapons production The Pentagon told RTX and other contractors to speed up deliveries of missile interceptors and air-defense gear, giving them 21 days to submit plans. This urgency signals more orders ahead, lifting RTX's future revenue and stock.

    This is the period's main new force: a direct government push that expands RTX's order pipeline.

  • New $1.28B Raytheon contract awards Raytheon won two U.S. contracts worth $1.28 billion: $745 million for SM-3 IIA interceptors and $536 million for TOW missiles. These add to RTX's backlog and lock in revenue, supporting the stock.

    Concrete new orders show the demand push is turning into real money for RTX.

  • Boeing framework to expand SM-3 output Boeing signed seven-year agreements with the Pentagon and Raytheon to boost production of SM-3 interceptor parts. As prime contractor, Raytheon benefits from higher output, which should increase future sales and profit.

    It shows RTX's supply chain is being expanded to meet demand, a new positive for future revenue.

  • Missile shortage debate and funding risk Trump denied missile shortages, but reports say Patriot stocks fell over 65% and a $1.5 trillion Pentagon budget is stalled in Congress. Shortages drive urgent orders, but political fights could delay funding, creating uncertainty for RTX.

    It is the real counterweight: demand is high, but funding and political risk could slow the benefit.

July 2026
▲3

RTX Surges on Defense Demand, Record Backlog, and Raised Guidance

  • NATO Summit Unlocks $57B Procurement NATO's Ankara summit unlocked $57B in procurement, and Germany agreed to buy Tomahawks and Typhon launchers. This boosts demand for RTX's defense products and supports revenue growth.

    This is a major new demand driver that directly benefits RTX's defense segment.

  • RTX Wins Multiple Contracts Worth Billions RTX won a £2B UK training deal, a $1.1B Navy missile award, and $3.3B in new orders. These contracts add to backlog and signal strong global demand for RTX's defense offerings.

    New contract wins are a direct positive catalyst for future revenue and earnings.

  • Q2 Beat and Raised 2026 Guidance Q2 results beat expectations, prompting raised 2026 EPS guidance of $7.10–7.25 and a record $289B backlog, up 22%. This reflects strong execution and robust demand across defense and aerospace.

    Earnings beat and guidance raise are key drivers of stock price appreciation.

  • Commercial Wins Offset by Macro Risks British Airways selected GTF engines, a commercial win. However, oil above $100 and 83% odds of a September Fed rate hike could squeeze RTX's commercial aerospace business, even as defense demand remains strong.

    This highlights both a positive commercial development and significant macroeconomic headwinds.

▲4

RTX Wins $3.3B in New Orders; Q2 Beat Already Known

  • Pentagon $18.2B Missile Replenishment Boosts RTX The Pentagon's $67B emergency funding request includes $18.2B to replace advanced missiles, with $3.28B specifically for RTX's Standard Missile interceptors. This directly increases demand for RTX weapons, adding to its backlog and future revenue, which supports the stock price.

    This is a new, concrete funding request that directly benefits RTX's missile business, a key growth driver.

  • Pratt & Whitney Wins $1.3B F135 Sustainment Contract Pratt & Whitney received a $1.3B contract modification for F135 engine spare parts for the F-35 program. This long-term sustainment work provides steady aftermarket revenue and strengthens RTX's defense backlog, pushing the stock up.

    This is a new contract award that adds to RTX's backlog and demonstrates ongoing demand for its engine services.

  • Pratt & Whitney Canada Wins $1B Military Engine Overhaul Pratt & Whitney Canada won a nine-year, $1B contract to overhaul PT6A-68 engines for the U.S. military's T-6 trainer fleet. This adds long-term revenue visibility and reinforces RTX's military sustainment business, supporting the stock.

    This is a new contract award that adds to RTX's backlog and shows strength in its military engine services.

  • British Airways Selects Pratt & Whitney GTF Engines British Airways chose Pratt & Whitney GTF engines for up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement. This commercial win adds to RTX's engine order backlog and future service revenue, boosting the stock.

    This is a new commercial order that expands RTX's GTF engine backlog and aftermarket services.

▲3

RTX Beats Q2, Raises 2026 Outlook on Record $289B Backlog

  • Q2 beat and raised 2026 guidance RTX reported Q2 adjusted EPS of $1.89 on $24.7B sales, up 16% organically, and raised 2026 sales to $95–96B and EPS to $7.10–$7.25. Higher profit and cash flow expectations make the stock more valuable, pushing shares up 7%.

    This is the core new event that directly drove the stock's jump this period.

  • Record $289B backlog on Pentagon restocking RTX's backlog hit a record $289B, up 22%, with $119B in defense orders. Raytheon booked nearly $20B in awards and a 2.42 book-to-bill ratio. A bigger backlog means future revenue is already largely locked in, supporting the stock.

    The record backlog is a new milestone that explains the demand behind the raised outlook.

  • Global conflicts deplete stockpiles, driving orders The U.S. has used over 50,000 rockets and missiles since the Russia-Ukraine war and strikes on Iran, forcing the Pentagon to restock. This steady demand for RTX weapons and maintenance lifts revenue and supports the stock.

    It explains the real-world force behind the surge in orders and guidance.

  • Oil above $100 and Fed rate-hike odds weigh on market Brent crude topped $100 on Middle East strikes, and investors see an 83% chance of a September rate hike. Higher fuel and borrowing costs could squeeze airlines and the broader economy, a headwind for RTX's commercial aerospace business even as defense demand stays strong.

    It is the main counterweight this period, showing a risk that could offset defense gains.

▲4

RTX Wins New Missile, Radar and Space Contracts as Backlog Swells

  • New defense contracts add billions to backlog RTX won a $1.1B Navy missile deal, a $310M Space Force radar modernization award, and smaller contracts for missile and aircraft parts. These add to its record $271B backlog and support future revenue, pushing the stock up.

    Directly shows new orders that drive RTX's revenue and profit growth.

  • Strong demand from rising global defense budgets A proposed $1.45 trillion U.S. defense budget for 2027 and NATO's pledge to spend 5% of GDP on defense by 2035 are fueling demand. RTX's Raytheon unit is even studying expanding AMRAAM missile production in Europe.

    Explains the big-picture tailwind behind RTX's order growth.

  • Technology investments boost efficiency and future sales Collins Aerospace opened a UK center for electric thrust reversers, Pratt & Whitney bought AI software to speed engine inspections, and Raytheon is building a large space telescope. These moves cut costs and open new markets, supporting the stock.

    Shows how RTX is investing to improve margins and win future business.

  • RTX seen as a stable alternative to SpaceX With SpaceX posting big losses, analysts highlight RTX as a profitable, dividend-paying way to invest in space and defense. RTX's interceptor and radar expertise also positions it for the Golden Dome missile-defense initiative.

    Reflects investor sentiment shifting toward established defense names like RTX.

▲4

NATO Summit Drives $57B in Deals, Boosting RTX Missile Demand

  • NATO Summit Spurs $57B in New Defense Procurement At the Ankara summit, NATO allies announced over $57 billion in new defense deals, including RTX doubling Stinger missile production with European partners. This directly boosts RTX's order book and revenue outlook, pushing the stock up.

    This is the central event of the period, directly linking NATO spending to RTX's products and production expansion.

  • Germany to Buy RTX Tomahawk Missiles and Typhon Launchers Germany agreed to purchase U.S.-made Tomahawk cruise missiles and ground-based Typhon launchers from RTX, a significant new order. This adds to RTX's backlog and revenue, supporting the stock price.

    A concrete new contract for RTX, showing direct benefit from European rearmament.

  • Raytheon UK-Led Consortium Wins £2B UK Army Training Contract Omnia Training, led by Raytheon UK, won a £2 billion 15-year contract to deliver the British Army's training system. This provides long-term revenue visibility and strengthens RTX's international services business.

    A new, sizable contract award that diversifies RTX's revenue beyond missiles.

  • U.S. Defense Spending Surge and $400M AMRAAM Contract The U.S. plans $1 trillion defense spending in 2026 and a $1.5 trillion request for 2027. RTX also won a ~$400 million AMRAAM contract, adding to its $271 billion backlog and supporting future growth.

    Highlights the broader budget tailwind and a specific new contract that reinforce RTX's growth trajectory.

Q2 2026
▲3▼1

RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

  • Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.

    New contract wins directly boost future revenue and investor confidence.

  • Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.

    Backlog and budget trends show long-term demand visibility, a key price driver.

  • RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.

    Asset sale and supply chain risks are new negative factors affecting RTX's outlook.

  • GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.

    New production partnership and valuation debate influence investor sentiment.

June 2026
▲3▼1

RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

  • Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.

    New contract wins directly boost future revenue and investor confidence.

  • Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.

    Backlog and budget trends show long-term demand visibility, a key price driver.

  • RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.

    Asset sale and supply chain risks are new negative factors affecting RTX's outlook.

  • GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.

    New production partnership and valuation debate influence investor sentiment.

▲3▼1

RTX Wins $1.5B Missile Deals, Sells Space Unit, Faces China Supply Risk

  • Raytheon wins $1.5B in missile contracts Raytheon won a $398.7M AMRAAM contract and a $1.1B AIM-9X missile contract, both with foreign military sales funding. These awards add to RTX's record $271B backlog and support revenue growth, pushing the stock up.

    New contract wins directly boost future revenue and investor confidence.

  • Record $271B backlog and strong defense demand RTX's total backlog hit a record $271B, with defense up 18.5% to $109B. A military expert warned munitions deliveries are years behind, and the FY2027 budget proposes $114B for missiles, signaling sustained demand that supports the stock.

    Backlog and budget trends show long-term demand visibility, a key price driver.

  • RTX sells Blue Canyon, faces China export curbs RTX is selling its Blue Canyon small-satellite unit for $620M, losing a growth asset. Separately, new Chinese export controls on rare earths and defense materials create supply chain and cost risks, weighing on the stock.

    Asset sale and supply chain risks are new negative factors affecting RTX's outlook.

  • GM talks and undervaluation signal upside GM held early talks with RTX to boost weapons production, potentially easing supply bottlenecks. Also, one analysis says RTX is 13.2% undervalued based on $90.4B revenue and $7.3B net income, though another model sees it slightly overvalued.

    New production partnership and valuation debate influence investor sentiment.