Frequency Electronics up after signing contract with Office of Naval Research

Frequency Electronics

28/09/2021 11:49

** Shares of electronic products manufacturer  FEIM.O  up
19.3% at $11.40 premarket
    ** Stock set for best day in over 18 months, if premarket
gains hold
    ** Co on Monday won contract from Office of Naval Research
for development of an atomic clock  urn:newsml:reuters.com:*:nGNX2pcn3P
    ** Says contract will further broaden co's product portfolio
to address terrestrial, space and commercial markets
    ** Total potential contract value is ~$17.75 mln, says FEIM
    ** As of last close, stock had fallen ~13% this year


    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))