Considering how poorly America West Holdings' stock has done thus far in 1997, it would seem the U.S.' ninth-largest airline may be one of the most underappreciated companies in the commercial air transportation sector.

Some market professionals are suggesting US Airways Group may dampen its third-quarter profits through accounting provisions to make the company's financial performance less of an issue in future labor negotiations.

Communications and electronics supplier Harris Corp. has been providing weather information to the FAA since 1989 through the integration of computer and software packages, and now the $3.8-billion company is poised to expand its substantial book of business with the government agency yet again.

Merger-and-acquisition specialists expect cash-rich General Dynamics Corp. to emerge as the winner in the defense industry's latest consolidation play--United Defense L.P., which is being auctioned by co-owners FMC Corp. and Harsco Corp.

Wall Street's reaction to ValuJet Inc.'s plan to merge with AirWays Corp. and replace its tainted name has been tepid.

With U.S. Defense Dept. procurement spending continuing to slide, as it has since the late 1980s, some Wall Street analysts are beginning to conclude that a meaningful increase probably won't materialize in the foreseeable future.

Trans World Airlines Inc. will be under considerable pressure between now and the end of September to achieve what it couldn't accomplish in the first or second quarters--show a profit (see p. 43).

When it comes to stock-price performance, few aerospace companies in the last few years have fallen short of expectations as much as Orbital Sciences Corp. (OSC).