Shares of defense-related companies are trading lower as the Middle Eastern conflict grinds on. General Dynamics' Q2 earnings possibly underscore known industry and bureaucratic constraints, including production and delivery bottlenecks that hurt margins, and award funding delays as the reconciliation bill stalls in Congress.

Shares of space-related companies are trading lower, possibly amid sympathy for peer SpaceX, which is experiencing a sell-off due to the expiration of its second lockup period.

B of A Securities Maintains Buy on Applied Aerospace, Lowers Price Target to $23

B of A Securities analyst Ronald Epstein maintains Applied Aerospace (NYSE:AADX) with a Buy and lowers the price target from $24 to $23.

Morgan Stanley Maintains Equal-Weight on Applied Aerospace, Raises Price Target to $24

Morgan Stanley analyst Kristine Liwag maintains Applied Aerospace (NYSE:AADX) with a Equal-Weight and raises the price target from $23 to $24.

Applied Aerospace & Defense shares are trading lower after the company reported a wider Q2 loss hurt by increased expenses.

Shares of aerospace and defense companies are trading lower. Reports suggest that Deputy Defense Secretary Steve Feinberg signed a memo proposing a software tool that would give the government direct access to defense companies' financial systems, potentially impeding commercial and nontraditional firms from doing business with the Pentagon.

Keybanc Maintains Overweight on ATI, Raises Price Target to $258

Keybanc analyst Samuel McKinney maintains ATI (NYSE:ATI) with a Overweight and raises the price target from $211 to $258.