Drone and defense stocks were mixed Tuesday amid a flood of news to kick off the week. Axon Enterprise made a bullish surge in late trade following its Monday earnings report. Joby Aviation jumped Monday after reaching a deal to acquire Blade Air Mobility's passenger business, which also sent BLDE stock flying.
Boeing stock reversed from an early Monday decline as a new workers' strike is underway.
Axon Earnings
Axon Enterprise, a maker of military and law enforcement equipment, cleared estimates for its Q2 results late Monday and lifted its 2025 outlook.
Earnings increased to $2.12 per share adjusted while revenue spiked 33% to $669 million.
FactSet expected earnings of $1.45 per share on $641 million in revenue.
Software and services revenue increased 39% to $292 million, while connected devices sales rose 29% to $376 million. Revenue from Taser sales grew 19% to $216 million.
Axon now expects 2025 revenue to range from $2.65 billion to $2.73 billion, up from its prior forecast for $2.6 billion to $2.7 billion in sales. The midpoint is also ahead of analyst estimates for $2.66 billion in revenue for the year.
AXON stock spiked 16.4% Tuesday. Shares have traded above and in a buy zone for a cup base following their mid-May breakout.
The stock has been consolidating below its 10-week moving average, posting relatively tight weekly closes since the start of July — a bullish sign.
Axon has rallied about 46% in 2025.
Joby, Blade Jump On Air Taxi Deal
Air taxi maker Joby Aviation on Monday announced that it would buy Blade Air Mobility's passenger business as a wholly-owned subsidiary for up to $125 million. Joby said the deal accelerates its market readiness as it prepares to launch commercial flights in the Middle East early next year.
Blade's operational network spans 12 urban terminals in key global markets, and the company flew more than 50,000 passengers in 2024. The deal unlocks "immediate" market access and infrastructure in urban corridors in New York City and across Southern Europe, according to the release.
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Blade's Medical division is not included in the transaction and will remain a separate, public company called Strata Critical Medical. Joby will serve as the preferred vertical takeoff and landing (VTOL) partner for Blade's organ transport business.
The $125 million transaction includes $35 million of holdbacks, which will be released once certain performance milestones are hit.
Joby last week announced that it completed a series of commercial readiness tests in Dubai. The drone maker also announced a collaboration with L3Harris to design VTOLs for defense applications. Joby is also building out its facilities in California and Ohio, to help boost aircraft production.
JOBY stock surged almost 19% Monday to a record high. Shares declined 4.4% Tuesday.
Joby has soared 140% so far this year.
Blade Air Mobility rallied more than 17% Monday, jumping strongly above its key moving averages. The stock declined 6% Tuesday. BLDE stock has rebounded from its April lows, but is still down 2% in 2025.
Boeing Strike
Meanwhile, a new strike is underway at Boeing after 3,200 IAM Union workers at its facilities in St. Louis and St. Charles, Mo., and in Mascoutah, Ill. rejected the latest four-year contract offer on Sunday.
The workers at the facilities support Boeing's defense operations, which includes assembling the F-15, F/A-18, as well as advanced missiles and defense technologies. It marks Boeing's first defense sector union strike since 1996, Bloomberg reported.
Boeing and the union have been negotiating since late July regarding wages and benefits. The union over a week ago rejected a tentative deal that would have given a 40% raise to many members over the four-year contract. The members on Sunday voted to reject a revised contract that removed scheduling provisions, CNN reported.
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"IAM District 837 members have spoken loud and clear, they deserve a contract that reflects their skill, dedication, and the critical role they play in our nation's defense," said Tom Boelling, a union representative for the district.
Boeing in November agreed to a new contract and ended a seven-week strike for separate districts of its machinist union. That deal included a 38% general wage increase over four years, which compounds to 43.65% over the lifetime of the agreement. The workers secured a $12,000 ratification bonus, which was up from $7,000 in a prior offer.
The deal also increased Boeing's 401(k) contribution to its union members' retirement plans, reinstated an incentive plan, and improved its disability plans and overtime rules, among other benefits.
Boeing stock rebounded 4% on the agreement and other factors in November, then jump 14% in December.
BA shares rose 1.1% Tuesday after inching higher Monday. Boeing last week retreated from its 2025 high to fall below its 21-day exponential moving average. Boeing stock is still up more than 25% this year.
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