Deal ramps up production of Ipswich Frugalpac machines

Siemens reported record quarterly industrial profit and orders, raising full-year guidance. For the three months ended June 30, industrial profit rose 25% to €3.52B, above a €3.18B consensus, with revenue up 7% to €20.79B and orders up 13% to €27.90B. EPS guidance increased to €11.20-€11.50. Siemens also said tax authorities agreed on the planned Siemens Healthineers spin-off.

Romanian rail operator CFR said it signed two contracts totaling over 957 million lei (about €182.7m) to modernize signaling and interlocking on Cluj and Timisoara networks. Awards went to a consortium led by Siemens Mobility with Imsat and Elsitel. Terms are 30 months plus a 60-month warranty, aiming to centralize signaling and cut traffic management costs.

Siemens said it agreed to acquire privately held Precision Innovations Inc. to add AI chip planning tools based on the OpenROAD framework for SoC feasibility analysis and design exploration. Precision Innovations’ EDA software supports power, performance and area evaluation and reduces design iterations. The deal, with undisclosed terms, is expected to close in Q3 2026 subject to customary conditions.

European STOXX 600 was flat at 650.84. Tech stocks fell as investors weighed high AI/chip valuations; ASML and Infineon each dropped 4%, and Siemens Energy slid 5.5% after Barclays downgraded it. Defence stocks edged up ahead of a NATO summit; Saab rose 5.3% after Morgan Stanley upgraded, and Shell gained 2.2% after raising its Q2 integrated gas outlook.

Accenture was awarded a $100m, three-year extension by Australia’s Digital Health Agency to continue as the national infrastructure operator for the My Health Record system, according to the article. The original eight-year contract was reportedly worth over $500m and had a prior $42.7m two-year extension to June 2022. The new term runs to 2025.

Boeing says the U.S. Navy has placed a $75 million order for the GBU-75 JDAM-Long Range, a turbojet-powered variant of the 500-lb JDAM. The missile uses the TDI-J85 Spartan engine to convert the glide bomb into a cruise missile. Boeing reports April tests from an F/A-18F and cites advertised ranges above 300 nm.