News World In Pics: US rocket 'Antares' explodes moments after liftoff

In Pics: US rocket 'Antares' explodes moments after liftoff

Shares of Orbital Sciences tumbled in Wednesday morning trading after the aerospace company's unmanned rocket bound for the International Space Station exploded moments after liftoff on Tuesday evening.No injuries were reported.The Orbital Sciences' Antares commercial

 

Until Tuesday, all of the supply missions by Orbital Sciences, based in Dulles, Virginia, and Elon Musk's SpaceX, had gone off with no major problems.

Orbital Sciences carried insurance on the failed Tuesday mission, and Executive Vice President Frank Culbertson said that it would not fly until it understands the root cause of the incident.

Howard Rubel of Jefferies said in a client note that the rocket's failure “may hamper, but not prevent, Orbital from signing contracts with additional customers for Antares.”

For some context, Rubel said that the last time Orbital had a major rocket failure was in 2011 during a Taurus XL launch. The day of that failure, Rubel said, Orbital's stock fell as much as 8 percent but wound up making back some ground, closing down about 1.6 percent.

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