航空航天与国防：本周关注要点（2026年11月2日—11月6日）

J.P. Morgan North America Equity Research weekly Aerospace & Defense note covering the week of November 2-6, 2026. Midterm elections are Tuesday and defense stocks should already be pricing in Democrats gaining control of the House and possibly the Senate; post-election focus shifts to the lame duck session and whether Congress will appropriate money for DoD outside the FY27 base discretionary budget. Earnings: VOYG reports Monday with focus on the NASA CLD Phase 2 award and Starlab implications; LDOS reports Tuesday with improving but sub-seasonal bookings and attention on Health and the VBA re-compete, where estimates may still need to come down; MDA reports Thursday, with management expected to detail 12-15% organic growth next year led by Telesat work in Satellite Systems; BBD reports Thursday with 3Q deliveries one shy of expectations and strong aftermarket; KTOS reports Thursday with continued strength and commentary on turbofan/turbojet ramps plus hypersonics and space;