Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts
Published . Updated .
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Rheinmetall cut its 2026 outlook for the second time in three months, citing delays to German military projects and artillery ammunition deliveries.
Directly affected
- RNMBY Rheinmetall (ETR: RHM)
Named in this report.
Indirectly affected
- ITA iShares U.S. Aerospace & Defense ETF+1.1% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story.
- XAR SPDR S&P Aerospace & Defense ETF-4.4% 30d
SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story.
- EWG iShares MSCI Germany ETF-3.5% 19d
iShares MSCI Germany ETF holds stocks listed in Germany, which this story is about (“german”).
- LMT Lockheed Martin+21.8% 30d
Lockheed Martin (guided missiles and space vehicles and parts): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story.
- RTX Rtx+5.4% 11d
Rtx (aircraft engines and engine parts): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story.
- NOC Northrop Grumman+7.0% 30d
Northrop Grumman (search, detection, navigation, guidance, aeronautical sys): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story.
- GD General Dynamics+9.0% 30d
General Dynamics (ship and boat building and repairing): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| RNMBYNon-US listing (OTC); price checks may stay empty | — | — | — | — | — | — | — |
| ITA | +0.76% | +0.87% | base | after close | after close | after close | after close |
| XAR | +4.35% | +2.37% | base | after close | after close | after close | after close |
| EWGNo price data for this ticker | — | — | — | — | — | — | — |
| LMT | +8.23% | +8.15% | base | after close | after close | after close | after close |
| RTX | +0.58% | +2.19% | base | after close | after close | after close | after close |
| NOC | +7.07% | +5.76% | base | after close | after close | after close | after close |
| GD | +1.75% | +2.36% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts CNBC
Source: CNBC
Price since this story was published: IShares U.S. Aerospace & Defense ETF (ITA)
| Company | When | Move | Status |
|---|---|---|---|
| General Dynamics (GD) | three days earlier | +2.36% | final price |
| General Dynamics (GD) | five days earlier | +1.75% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | +0.87% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | +0.76% | final price |
| Lockheed Martin (LMT) | three days earlier | +8.15% | final price |
| Lockheed Martin (LMT) | five days earlier | +8.23% | final price |
| Northrop Grumman (NOC) | three days earlier | +5.76% | final price |
| Northrop Grumman (NOC) | five days earlier | +7.07% | final price |
| Rtx (RTX) | three days earlier | +2.19% | final price |
| Rtx (RTX) | five days earlier | +0.58% | final price |
| Spdr Series Trust (XAR) | three days earlier | +2.37% | final price |
| Spdr Series Trust (XAR) | five days earlier | +4.35% | final price |
Congressional trades in IShares U.S. Aerospace & Defense ETF (ITA) around 5 Nov 2026
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 43 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 43 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 17 Sep 2026. That is 49 days before publication. Filed 13 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around IShares U.S. Aerospace & Defense ETF (ITA)
Companies carried with this story
- ITA IShares U.S. Aerospace & Defense ETF
For “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts,” IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story
- XAR Spdr Series Trust
In “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story
- LMT Lockheed Martin
For “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts,” Lockheed Martin (LMT) is linked, with no stored direction, medium confidence. Reason on file: Lockheed Martin (guided missiles and space vehicles and parts): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story
- RTX Rtx
Rtx (RTX) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts.” Reason on file: Rtx (aircraft engines and engine parts): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story
- NOC Northrop Grumman
In “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts,” Northrop Grumman (NOC) is linked, with no stored direction, medium confidence. Reason on file: Northrop Grumman (search, detection, navigation, guidance, aeronautical sys): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story
- GD General Dynamics
General Dynamics (GD) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts.” Reason on file: General Dynamics (ship and boat building and repairing): defense contractors gain when military spending rises. Linked by “defense” (defense) in this story
IShares U.S. Aerospace & Defense ETF (ITA) and the defense link
IShares U.S. Aerospace & Defense ETF (ITA) is the company in “Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts,” the 5 Nov 2026 Defense story.
The link for IShares U.S. Aerospace & Defense ETF (ITA) is this: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story
Spdr Series Trust (XAR) is here too. Its reason reads: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “defense” (defense) in this story
The price range for IShares U.S. Aerospace & Defense ETF (ITA), and the dates in the story
ITA traded between 197.59 and 218.73 across 20 sessions. The latest close on file is 216.38. LMT traded between 497.32 and 656.35 across 20 sessions. The latest close on file is 639.35. XAR traded between 210.89 and 237.55 across 20 sessions. The latest close on file is 231.04.
A simple score for IShares U.S. Aerospace & Defense ETF (ITA)
46 out of 100
“Defense giant Rheinmetall plunges 16% after cutting outlook on stalled military contracts” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.