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MDA News
MDA Events
Global Venture Management Invests in Starlab
Starlab Space and Global Venture Management announced Global Venture Management's investment in Starlab. The companies said, "The investment adds to a deepening pool of institutional capital backing Starlab and signals continued confidence that Starlab, the U.S.-led, next-generation commercial space stationm is the defining infrastructure play of the post-International Space Station low-Earth orbit economy." Starlab Space is a U.S.-led, global joint venture among Voyager Technologies (VOYG), Airbus (EADSY), Mitsubishi Corporation (MSBHF), MDA Space (MDA), Palantir Technologies (PLTR), and Space Applications Services.
Company Narrows FY26 EBITDA Outlook to C$330M-C$370M
Consensus C$1.83B. Narrows FY26 adjusted EBITDA view to C$330M-C$370M from C$320M-C$370M. The company said, "Capital expenditures are reaffirmed at C$225-C$275 million to support another year of investments related to the production expansion at our Montreal facility and investments in chip development."
MDA Space Supports Canadian Space Agency's Repurposing of Canadarm3 Technology
MDA Space issued a statement in response to the Canadian Space Agency's announcement on its intention to repurpose Canadarm3 investments to support the next phase of lunar exploration: "We applaud the Canadian Space Agency's announcement to repurpose Canadarm3 technologies to support complex lunar operations as part of the Artemis program," said Mike Greenley, MDA Space CEO. "After the landmark success of the Artemis II mission around the Moon, all eyes have turned to the lunar surface, which offers a once-in-a-generation opportunity to advance Canada's leadership as a spacefaring nation and to maintain and leverage our four-decade competitive advantage in space robotics. We are fully committed to working with the Canadian Space Agency to get Canada on the Moon and continue this country's proud legacy in space. MDA Space is well-positioned to provide surface logistics needed for a sustained human presence on the Moon."
MDA Space Signs $474M Contract with Telesat
MDA Space (MDA) will be supplying Telesat LEO ULC, a division of Telesat (TSAT), with additional MDA AURORA next-generation broadband satellites, coinciding with the operator's expansion of the Telesat Lightspeed low Earth orbit constellation. Telesat is expanding its LEO constellation by 69 satellites, bringing the total number of fully funded satellites from 156 to 225. For MDA Space, this represents an increase of 27 satellites to the previously announced 198 satellites being manufactured for the Telesat Lightspeed LEO constellation. As a result, MDA Space has increased the total value of the contract by $474M. The Government of Canada announced that MDA Space will serve as the prime contractor responsible for end-to-end mission delivery and that negotiations to advance the definition and development of the UHF and X-band services are underway. Contract details will be disclosed once finalized. Telesat will serve as a subcontractor to MDA Space on this component of the program. The majority of the increase in contract value of $474M will be added to the company's backlog in Q3 as some long-lead-time items were previously added.
Nasdaq Rises 0.2% as Tech Stocks Rebound
Investors bought the early-session dip in the Tech space on Wednesday, helping the sector join Energy as the only two areas of the market to register gains. Consequently, Nasdaq Composite finished the day up 0.2% and S&P 500 was well off the intra-day lows to end the session down just 0.3%, rising above 7,480 into the close after dipping as low as 7,420 earlier. Semiconductors, memory, and servers were especially strong within the broader AI bounce-back theme, while Software stocks softened after Tuesday's rally. Large-cap Growth performance also exceeded that of SMID and Value.Markets remain on edge however, with volatility in the Tech arena compounded by the ongoing geopolitical concerns. Headlines questioning whether the overall state of U.S.-Iran ceasefire can be preserved after the two sides exchanged attacks over the past 48 hours have propped up Energy prices. In the evening session, WTI Crude Oil is now above $74 per barrel. S&P e-minis and Nasdaq 100 index futures are down by about a decimal. Precious metals also remain under pressure, with higher oil price narrative and its inflationary implications supporting the US Dollar vis-a-vis an up-creep in yields and assumptions of tighter-for-longer Fed policy. This was further reinforced in today's FOMC minutes from last month's meeting tilting decidedly more hawkish.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -AZZ Inc.up 8.3%ALSO HIGHER -Ampco-Pittsburghup 13.7% after announcing increase in customer order activityLarimar Therapeuticsup 3.3% after insider buyAeroVironmentup 1.2% after providing medium-term targetsDOWN AFTER EARNINGS -Levi Straussdown 6.0%PriceSmartdown 2.7%ALSO LOWER -MDA Space Ltd.down 6.9% after equity offeringCostco Wholesaledown 1.2% after June comps data
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