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Environment sector rises 21 percent
Shares of AeroVironment jumped by 21% after surpassing Wall Street's fourth-quarter expectations, with revenues rising to $642 million and demand increasing for drone systems, especially the "LUX" laser system. The company is currently one of the biggest beneficiaries of increased US defense spending, anticipating higher demand due to geopolitical tensions and recent conflicts, with plans for a record defense budget of $75 billion for drone procurement by 2027.
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