Hanwha Ocean's stock plunges after losing Canadian submarine contract
Hanwha Ocean's failure to win the Canadian submarine project sent its shares sharply lower in premarket trading on month day, falling in the range, and they recorded a decline in the range during trading on month day. The Canadian government described the project as worth up to trillion won, and the prime minister said TKMS and Hanwha had met the demanding requirements. Samsung SDS rose percent on month day on expectations for its AI business, while Samsung Electronics fell in premarket trading in the range despite announcing operating profit of trillion won for the quarter.7 month 6 day in premarket trading, 18falling in the range, and 7 month 7 day during trading, 20decline in the range. The Canadian government described the project as worth up to 54 trillion won, and the prime minister said TKMS and Hanwha had met the demanding requirements. Samsung SDS rose on expectations for its AI business on 7 month 7 day, posting a 6 percent gain, while Samsung Electronics fell in premarket trading in the range despite announcing operating profit of 2 trillion won for the 89 quarter, and fell in premarket trading in the 2 range.
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Hanwha Ocean's failure to win the Canadian submarine project sent its shares sharply lower in premarket trading on 7 month 6 day in premarket trading, 18falling in the range, and 7 month 7 day during trading, 20recording a decline in the range. The incident has drawn investors' attention as an example of how the outcome of a major defense contract can be reflected in a stock price over a short period.
The Canadian prime minister said on 7 month 6 day that both TKMS and Hanwha had met the demanding requirements. The remarks suggested that the competition had been extremely close.
The Canadian government described the project as worth up to 54 trillion won. As announcements from the bidders proceeded, the share prices of related companies fluctuated sharply for a time.
Hanwha Ocean issued an official disclosure regarding the order results, after which its share price fell sharply. Immediately after the announcement, a securities firm presented a buy-on-correction strategy for Hanwha Ocean.
Samsung SDS rose on expectations for its AI business 7month 7day 6% and some securities firms raised their target prices. Investor attention turned to news related to the AI business.
Samsung Electronics announced operating profit for the 2quarter at 89trillion won, but in pre-market trading it was down by around 2%. Even after the major earnings announcement, market reactions remained mixed.
This series of announcements and reactions shows how different news was simultaneously reflected in the market across the defense and AI-related sectors. Related disclosures and follow-up announcements are expected to continue.