Rocket Lab rises after US, UK military programs selection

Rocket Lab's RKLB.O shares up 4.2% premarket to $19.94 after space services co said will participate in U.S. and U.K. government development programs

Long Beach, California-based co late Mon said it was selected by U.S. Air Force to participate in $46 bln Enterprise-Wide Agile Acquisition Contract, designed for the rapid acquisition of innovative technologies, engineering services, and technical solutions

It also said U.K Ministry of Defence selected co for $1.3 bln Hypersonic Technologies & Capability Development Framework, which aims to rapidly develop advanced hypersonic capabilities

Across both programs, co said intends to bid for contracts and task orders served by its Hypersonic Accelerator Suborbital Test Electron launch vehicle, along with other engineering, design, and launch services

Through Mon close, RKLB shares down 25% YTD. Stock closed at $3.53 a year ago