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SoundView remains cautious on Alliant Techsystems (ATK
Analyst Howard Rubell says uncertainty will come in the form of revenue and earnings per share. For the most part, he thinks the share price impact will be modest as the NASA business is small and has below-average profitability. But investors are likely to focus on Boeing, Lockheed Martin, and Alliant due to their space program involvement and revenue exposure.
Rubell says the actual financial impact will be driven by the length of the investigation and its conclusions. A mix of work could change in the near term, with some volume declines possible. He thinks the second loss of a space shuttle in 113 launches will rekindle a debate about the most effective way to conduct space science.