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Moderna lifts 2026 growth outlook to 15–25% after 29% Q3 jump Panama’s $8.5B Bet: The Canal That Wants to Be More Than a Canal Microsoft reportedly winds down Oracle AI-computing deal; Oracle falls 4% Up 1,500, down 1,800: Wall Street’s wildest week since the 2025 tariff crash Fox closes $22B Roku takeover months ahead of schedule Nikkei, Kospi plunge 6% as AI crash spreads to Asia Nasdaq crashes 5.5% as $2.5 trillion vanishes in AI rout Europe’s Stoxx 600 hits record as money rotates out of AI Toyota soars 16.7%, raises profit forecast 15% on hybrids, weak yen Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

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Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

Rheinmetall cut its 2026 outlook again despite Europe's increased defence spending. Despite demand, the contracts and ammunition approvals are arriving slower than planned.

News | 5 November 2026

Europe’s defence darling, Rheinmetall, plunges 16% after second sales cut in three months

Rheinmetall now expects 2026 sales of about €13.2 billion, down from €13.7–14.2 billion.

Germany’s Arminius Boxer vehicle order has slipped to 2027, and artillery ammunition approvals are delayed.

Q3 operating profit still rose 62% to €553 million, but sales of €3.15 billion missed the €3.25 billion consensus. Its cash conversion target fell to just over 0%, from above 40%. Shares fell as much as 16.3%, triggering a brief trading halt.

Europe is spending more on defence than it has in decades, and Rheinmetall still can’t get the money in on time. The German arms maker cut its 2026 sales forecast for the second time in three months, to about €13.2 billion. The reason: Germany’s Arminius Boxer vehicle order slipped to 2027, and artillery ammunition is stuck in slow acceptance tests.

Profit isn’t the problem: Q3 operating profit rose 62% to €553 million. Cash is: expected cash conversion fell to roughly zero, from more than 40%. Shares fell as much as 16.3%, and were already down about 35% for the year.