Ball Stock News

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Britain's BAE Systems said its $5.5 billion purchase of Ball Corp's aerospace business would help it meet the soaring demand for munitions seen since the invasion of Ukraine, underscoring the impact the war has had on the sector.

Ball Corporation (NYSE:BLL) shares jumped more than 5% in Thursday premarket trading after it agreed to sell its aerospace division to BAE Systems PLC (LSE:BA.) for US$5.55 billion in cash.

Cisco Systems Inc.'s CSCO stock initially tumbled before rising 4% after the computing giant reported fiscal fourth-quarter results. The company issued conservative full-year 2024 guidance that spooked some investors.

BAE Systems PLC (LSE:BA.) has bought Ball Corp's aerospace division for $5.5 billion in a deal it described as “compelling.

Ball Corporation is a Dividend Challenger stock with six consecutive years of dividend growth. The company's financials show positive revenue and earnings growth but negative free cash flow and increasing long-term debt. Ball's valuation is relatively low compared to its historical average, but its stock performance has underperformed the S&P 500.

Private equity firms Blackstone Inc and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp , according to people familiar with the matter.

Ball Corp , the world's largest supplier of beer cans, said on Tuesday it was considering options for its aerospace business, days after a report said the company was looking to sell the unit for more than $5 billion.