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Stock Alert: Maxar Technologies Shares Climb On Space Contracts

Shares of space technology company Maxar Technologies Inc. (MAXR) are gaining more than 10 percent in the morning trade on Monday, at $17.57. The stock has been trading in a range of $3.83 to $21.45 in the past 52 weeks.

Monday, Maxar Technologies said Intelsat has selected the company to make Intelsat 40e, a next-generation geostationary communications satellite scheduled to launch in 2022. Maxar will integrate NASA's Tropospheric Emissions: Monitoring of Pollution or TEMPO payload with the Intelsat 40e satellite.

Maxar Technologies had said on Friday that it won a $142 million contract from the National Aeronautics and Space Administration or NASA to perform an in-space assembly demonstration using a lightweight robotic arm. The arm, called SPIDER or Space Infrastructure Dexterous Robot, will be integrated with the spacecraft bus Maxar is building for NASA's Restore-L project, which plans to refuel a satellite in low Earth orbit.

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