Core Viewpoint - Elbit Systems has been awarded a $228 million contract by General Dynamics Ordnance and Tactical Systems to supply its Iron Fist Active Protection System over a three-year period, following a previous contract awarded in May 2024 [1][3]. Group 1: Contract Details - The contract is for the Iron Fist Active Protection System (APS), which is designed to enhance the survivability of armored platforms against modern battlefield threats [2]. - The Iron Fist APS provides 360-degree protection against various anti-armor threats, including Anti-Tank Rockets, Anti-Tank Guided Missiles, Unmanned Aerial Systems, loitering munitions, and Kinetic-Energy tank ammunition [2]. Group 2: Company Background - Elbit Systems is a leading global defense technology company, employing approximately 20,000 people across five continents and reporting revenues of $1,922 million for the three months ended September 30, 2025 [5]. - The company has an order backlog of $25.2 billion as of September 30, 2025, indicating strong demand for its products and services [5]. Group 3: Leadership Statement - Bezhalel Machlis, President and CEO of Elbit Systems, emphasized the technological edge of the Iron Fist APS and the strategic partnership with GD-OTS and the U.S. Army, highlighting the trust placed in the company to enhance the survivability of American troops [4].

Market Performance - The Tel Aviv Stock Exchange experienced a decline, with the Tel Aviv 35 Index falling by 0.08% to 3,968.81 points, the Tel Aviv 125 Index decreasing by 0.85% to 3,987.85 points, and the BlueTech Global Index dropping by 0.10% to 698.43 points [1] - The All Bond corporate bond index decreased by 0.21% to 422.79 points, with total turnover amounting to NIS 3.84 billion in equities and NIS 5.91 billion in bonds [1] Foreign Exchange Rates - The representative shekel-dollar rate increased by 0.701% from Friday, reaching NIS 3.16/$, while the representative shekel-euro rate rose by 0.903% to NIS 3.676/€ [2] Top Gainers - Enlight Renewable Energy saw the largest gain on the Tel Aviv 35 Index, rising by 8.23%. Next Vision increased by 7.69%, and Elbit Systems Ltd. rose by 0.90%. Ormat Technologies Inc. and Bezeq Israel Telecommunications Company Ltd. also experienced gains of 1.13% and 2.17%, respectively [3] Top Losers - Nice recorded the largest decline on the Tel Aviv 35 Index, falling by 5.19%. ICL decreased by 1.95%, and Teva Pharmaceutical Industries Ltd. fell by 1.68%. Mizrahi Tefahot Bank and OPC Energy also saw declines of 1.81% and 1.16%, respectively [4]

Market Overview - The Tel Aviv Stock Exchange experienced a decline today, with the Tel Aviv 35 Index falling by 0.44% to 3,866.86 points and the Tel Aviv 125 Index decreasing by 0.33% to 3,913.39 points. In contrast, the BlueTech Global Index increased by 0.74% to 697.62 points. The All Bond corporate bond index remained unchanged at 423.26 points. Total turnover in equities was NIS 4.51 billion and in bonds was NIS 4.97 billion [1]. Currency Exchange Rates - In the foreign exchange market, the shekel-dollar rate was set 0.032% higher at NIS 3.151/$, while the shekel-euro rate decreased by 0.28% to NIS 3.672/€ [2]. Notable Stock Movements - Camtek saw the largest increase on the Tel Aviv 35 Index, rising by 6.37%. Other notable gainers included Tower Semiconductor Ltd. with a rise of 2.41%, Ormat Technologies Inc. increasing by 3.52%, and Azrieli Group rising by 1.52% [2]. - Conversely, Elbit Systems Ltd. led the market decline, falling by 3.77% with the highest trading turnover. YH Dimri Construction and Development also fell by 3.77%, marking the largest drop on the Tel Aviv 35 Index. Other decliners included Next Vision down by 2.38%, Teva Pharmaceutical Industries Ltd. down by 2.60%, and Fattal Holdings down by 2.95% [3]. - Outside the Tel Aviv 35 Index, Gilat Satellite Networks experienced a significant rise of 5.66% [3].

Core Viewpoint - Elbit Systems has secured contracts worth approximately $275 million for advanced airborne self-protection electronic warfare systems to be delivered over five years to a customer in the Asia-Pacific region [1][2]. Group 1: Contract Details - The contracts involve the supply of a comprehensive electronic warfare suite designed to protect helicopter platforms from missile threats, enhancing aircraft survivability and mission effectiveness [2][3]. - The solution includes the Mini-MUSIC™ Direct Infra-Red Counter-Measure (DIRCM) system, which utilizes advanced laser and tracking technologies to protect small and medium-sized aircraft against incoming missiles [2][3]. Group 2: Customer and Market Context - The systems will be customized to meet the specific operational needs of the customer's helicopter platform, ensuring robust protection in complex combat environments [3]. - These contracts are part of a broader trend, as Elbit Systems has secured numerous agreements in airborne self-protection solutions across various countries, including NATO and European nations [3][4]. Group 3: Company Overview - Elbit Systems is a leading global defense technology company, employing approximately 20,000 people across five continents and reporting revenues of $1,922 million for the three months ending September 30, 2025, with an order backlog of $25.2 billion [6].

Investment Opportunities in Venezuela's Oil Industry - President Trump's initiative aims to attract billions of dollars from US energy companies to revitalize Venezuela's oil sector, which is believed to have the world's largest oil reserves [1][4] - The plan includes US companies potentially rebuilding Venezuela's oil infrastructure and reviving production, with an initial offer of up to 50 million barrels of oil valued at approximately $3 billion [5][6] Challenges and Risks - Significant questions remain regarding the timeline and costs associated with increasing energy production, with concerns that the political will in both the US and Venezuela may wane over time [2] - The current global oil market is characterized by oversupply, with declining capital spending in oil due to abundant supply and lower-than-expected demand [3] - Experts estimate that restoring Venezuela's oil production could require investments of up to $100 billion over the next decade, raising doubts about the feasibility of such a turnaround [9] Major Players and Market Dynamics - Chevron is currently the only major US oil producer operating in Venezuela, with the potential to increase its cash flow by up to $700 million annually if production levels are restored [7] - Previous operators like Exxon Mobil and ConocoPhillips face challenges in recovering assets worth over $9 billion due to past seizures, complicating their return to the market [8] Refining and Related Opportunities - US refiners are already seeing increased interest, with about 140 million barrels of Venezuelan crude processed in 2025, representing 0.8% of total US throughput [11] - Companies like Valero Energy and PBF Energy could benefit from increased Venezuelan crude flows, while Phillips 66 may see upside from the need for imported diluent [12] Broader Investment Themes - The potential for increased tanker operations could benefit companies like DHT Holdings and Frontline, especially if Chevron charters compliant vessels to replace those circumventing US sanctions [13] - Beyond oil, Venezuela's rich mineral deposits present opportunities for mining companies, although the current state of the industry poses significant challenges [16][17] Infrastructure and Long-Term Investments - Rebuilding Venezuela's infrastructure is viewed as a long-term opportunity, with historical precedents suggesting that recovery in post-crisis markets can take years [18] - Investors are advised to consider high-quality regional companies with indirect exposure to Venezuela, treating direct investments as long-dated options [19] Defense and Food Sector Implications - Increased geopolitical uncertainty may benefit defense companies, with potential gains for firms like Lockheed Martin and Northrop Grumman [20] - Opportunities in food exports may arise if Venezuela's economy recovers, with companies like Bunge Global and Archer-Daniels-Midland positioned to benefit [21] Debt and Macro Considerations - The removal of Maduro has sparked interest in Venezuela's defaulted debt, with potential for higher recovery values as part of a debt restructuring [22][23] - The geopolitical shakeup could influence macro-oriented investments, with implications for oil prices and consumer confidence [24][25]

Core Insights - Elbit Systems Ltd. has completed the first model of the Sigma NG 155 millimeter howitzer, a self-propelled artillery system designed for next-gen warfare, at its South Carolina plant, emphasizing US production to align with local market demands [1] Group 1: Product Development - The Sigma NG howitzer incorporates US components, which were sent to Israel for assembly and expertise before being returned for installation in the turret system [2] - The Sigma NG is capable of firing all 155 millimeter shells and is similar to the IDF's Roem system, which took Elbit approximately six years to deliver to the IDF [2] Group 2: Market Strategy - The US variant of the Sigma NG is mounted on an Oshkosh 10X10 truck and includes locally sourced components, indicating a strategic move to enhance local production capabilities [3] - Elbit's actions may signal a trend for other Israeli companies to follow suit in the US market, potentially increasing competition and collaboration in defense manufacturing [3]

| ESLT 埃尔比特系统 | | | | --- | --- | --- | | 657_910 ↑ +17.840 +2.79% | | 收盘价 01/07 16:00 美东 | | 676.730 ↑ 18.820 +2.86% | | 盘前价 01/08 04:00 美东 | | 三 7 24 S m 9 目 ♥ 白 一 中 | | ● 快捷交易 | | 最高价 663.045 | 开盘价 642.730 | 成交量 16.47万 | | 最低价 640.560 | 昨收价 640.070 | 成交额 1.08亿 | | 平均价 656.068 | 市盈率TM 66.79 | 总市值 305.55亿(--) | | 振 幅 3.51% | 市盈率(静) 91.63 | 总股本 4644.22万 | | 换手率 0.61% | 市净率 7.612 | 流通值 176.33亿 | | 52周最高 663.045 | 委 比 62.16% | 流通股 2680.08万 | | 52周最低 284.406 | 量 比 1.38 | 每 手 1股 | | 历史景高 663.045 | 股息TTM 2.200 | ...

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.01% to 3,845.78 points - a new record, the Tel Aviv 125 Index rose 0.08% to 3,893.87 points; and the BlueTech Global Index rose 0.65% to 679.69 points. The All Bond corporate bond index rose 0.11% to 424.49 points. Turnover totalled NIS 5.41 billion in equities and NIS 4.99 billion in bonds. On the foreign exchange market, the representative shekel-dollar rate was set 0.348% higher from Tuesday, at NIS 3.175/$, and the representative she ...

Market Performance - The Tel Aviv Stock Exchange experienced a strong rise, with the Tel Aviv 35 Index increasing by 2.86% to 3,845.39 points, marking a new record [1] - The Tel Aviv 125 Index rose by 2.55% to 3,8980.80 points, and the BlueTech Global Index increased by 2.48% to 675.31 points [1] - The All Bond corporate bond index saw a slight increase of 0.12% to 424.03 points, with total turnover reaching NIS 5.44 billion in equities and NIS 8.35 billion in bonds [1] Currency Exchange Rates - The shekel-dollar exchange rate was set 0.19% higher at NIS 3.164/$, while the shekel-euro rate increased by 0.458% to NIS 3.705/€ [2] Notable Stock Movements - Camtek saw the largest increase on the Tel Aviv 35 index, rising by 10.85% [3] - Elbit Systems rose by 2.02% after securing a $150 million contract in Europe [3] - Tower Semiconductor increased by 4.80%, Next Vision rose by 6.83%, and Teva Pharmaceutical Industries increased by 6.64% [3] Banking Sector Performance - Bank Leumi led the market with a rise of 3.48% on the highest trading turnover, while Bank Hapoalim increased by 4.13% [4] - Mizrahi Tefahot Bank rose by 3.55%, and Israel Discount Bank increased by 3.09% [4] Declines in Stock Prices - Shufersal Ltd. experienced the largest decline on the Tel Aviv 35 Index, falling by 1.35% [4] - Navitas Petroleum and Big Shopping Centers fell by 1.06% and 1.14%, respectively [4] Significant Developments Outside the Tel Aviv 35 Index - Mega Or Holdings surged by 17% due to a deal to provide data center services to Nebius [5]

Market Performance - The Tel Aviv Stock Exchange experienced a rise, with the Tel Aviv 35 Index increasing by 1.16% to 3,738.33 points, marking a new record [1] - The Tel Aviv 125 Index rose by 1.64% to 3,794.16 points, and the BlueTech Global Index increased by 2.30% to 658.99 points [1] - The All Bond corporate bond index rose by 0.54% to 423.54 points, with total turnover reaching NIS 5.91 billion in equities and NIS 6.84 billion in bonds [1] Currency Exchange Rates - The shekel-dollar rate was set 0.723% lower at NIS 3.203/$, while the shekel-euro rate decreased by 1.153% to NIS 3.688/€ [2] Sector Performance - Construction stocks saw significant gains following the Bank of Israel's interest rate cut, with YH Dimri Construction and Development rising by 11.9%, the largest increase on the market [3] - Shapir Engineering and Industry rose by 9.62%, while Elbit Systems Ltd. increased by 5.27% after securing a $150 million contract in Europe [3] - Chip companies Camtek and Nova Ltd. rose by 11.61% and 11.72% respectively [3] Banking Sector - The banking sector faced declines after the unexpected interest rate cut by the Bank of Israel, with Bank Leumi falling by 2.20% and Bank Hapoalim decreasing by 2.35% [4] - Navitas Petroleum experienced the largest drop on the Tel Aviv 35 Index, falling by 4.88%, while Next Vision and Teva Pharmaceutical Industries Ltd. fell by 2.65% and 2.82% respectively [4]