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Tag: aerospace

  • Blair William & Co. IL Has $8.20 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

    Blair William & Co. IL Has $8.20 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

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    Blair William & Co. IL lessened its position in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,813 shares of the aerospace company’s stock after selling 3,635 shares during the period. Blair William & Co. IL’s holdings in Northrop Grumman were worth $8,202,000 at the end of the most recent reporting period.

    Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors increased its position in shares of Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after acquiring an additional 621,636 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Northrop Grumman by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after purchasing an additional 211,459 shares during the last quarter. Capital World Investors lifted its holdings in shares of Northrop Grumman by 0.6% during the first quarter. Capital World Investors now owns 3,688,511 shares of the aerospace company’s stock worth $1,765,543,000 after buying an additional 23,398 shares in the last quarter. Sanders Capital LLC boosted its holdings in Northrop Grumman by 3.7% in the 4th quarter. Sanders Capital LLC now owns 2,271,466 shares of the aerospace company’s stock valued at $1,063,364,000 after purchasing an additional 80,887 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Northrop Grumman by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,260,599 shares of the aerospace company’s stock valued at $590,137,000 after buying an additional 16,275 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

    Analyst Ratings Changes

    NOC has been the subject of several recent analyst reports. Sanford C. Bernstein cut shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research report on Friday, June 21st. Morgan Stanley boosted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays raised their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $523.20.

    View Our Latest Report on NOC

    Insider Activity

    In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. Insiders sold 2,846 shares of company stock valued at $1,393,028 in the last three months. Company insiders own 0.22% of the company’s stock.

    Northrop Grumman Price Performance

    Shares of NYSE NOC opened at $525.13 on Friday. The stock has a market cap of $77.71 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.36 and a beta of 0.34. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $528.76. The firm’s 50-day simple moving average is $496.06 and its 200 day simple moving average is $469.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

    Northrop Grumman (NYSE:NOC – Get Free Report) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. During the same quarter in the prior year, the business posted $5.34 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal year.

    Northrop Grumman Announces Dividend

    The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.57%. Northrop Grumman’s payout ratio is currently 57.62%.

    Northrop Grumman Profile

    (Free Report)

    Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

    See Also

    Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOC – Free Report).

    Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

    Receive News & Ratings for Northrop Grumman Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Northrop Grumman and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Thoroughbred Financial Services LLC Decreases Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

    Thoroughbred Financial Services LLC Decreases Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

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    Thoroughbred Financial Services LLC reduced its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,389 shares of the aerospace company’s stock after selling 106 shares during the period. Thoroughbred Financial Services LLC’s holdings in Huntington Ingalls Industries were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

    Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cranbrook Wealth Management LLC purchased a new position in shares of Huntington Ingalls Industries in the fourth quarter worth about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Huntington Ingalls Industries during the fourth quarter worth about $30,000. American National Bank purchased a new position in Huntington Ingalls Industries during the first quarter worth about $30,000. Riverview Trust Co purchased a new position in Huntington Ingalls Industries during the first quarter worth about $30,000. Finally, Fidelis Capital Partners LLC purchased a new position in Huntington Ingalls Industries during the first quarter worth about $31,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

    Huntington Ingalls Industries Price Performance

    Huntington Ingalls Industries stock opened at $267.46 on Wednesday. The company’s 50 day simple moving average is $249.69 and its 200-day simple moving average is $265.87. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 2.18 and a beta of 0.53. Huntington Ingalls Industries, Inc. has a 1 year low of $199.11 and a 1 year high of $299.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 0.96.

    Huntington Ingalls Industries (NYSE:HII – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.37. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.81 billion. Huntington Ingalls Industries had a net margin of 6.09% and a return on equity of 18.08%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 EPS. As a group, equities research analysts expect that Huntington Ingalls Industries, Inc. will post 16.35 earnings per share for the current year.

    Huntington Ingalls Industries Announces Dividend

    The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, May 31st. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.31%.

    Analyst Ratings Changes

    HII has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Huntington Ingalls Industries from $288.00 to $295.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. StockNews.com downgraded shares of Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Citigroup initiated coverage on shares of Huntington Ingalls Industries in a research note on Monday, May 20th. They set a “buy” rating and a $310.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

    View Our Latest Report on HII

    Insider Activity

    In other news, VP Jennifer R. Boykin sold 1,043 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $252.03, for a total value of $262,867.29. Following the sale, the vice president now directly owns 11,961 shares of the company’s stock, valued at approximately $3,014,530.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Edmond E. Jr. Hughes sold 1,500 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $256.07, for a total value of $384,105.00. Following the completion of the transaction, the vice president now owns 8,135 shares in the company, valued at $2,083,129.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer R. Boykin sold 1,043 shares of Huntington Ingalls Industries stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $252.03, for a total transaction of $262,867.29. Following the completion of the transaction, the vice president now owns 11,961 shares of the company’s stock, valued at approximately $3,014,530.83. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

    About Huntington Ingalls Industries

    (Free Report)

    Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.

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    Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

    Receive News & Ratings for Huntington Ingalls Industries Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Huntington Ingalls Industries and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Norway Savings Bank

    L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Norway Savings Bank

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    Norway Savings Bank increased its position in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 39.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,186 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Norway Savings Bank’s holdings in L3Harris Technologies were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

    Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. KB Financial Partners LLC raised its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. grew its position in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

    Insider Buying and Selling at L3Harris Technologies

    In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,898 shares of company stock valued at $18,558,167. Corporate insiders own 0.82% of the company’s stock.

    L3Harris Technologies Stock Up 0.6 %

    LHX opened at $224.58 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a market capitalization of $42.60 billion, a PE ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71. The stock’s fifty day moving average is $219.69 and its 200-day moving average is $212.72. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13.

    L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the previous year, the business earned $2.86 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

    L3Harris Technologies Announces Dividend

    The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $1.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.07%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

    Analysts Set New Price Targets

    A number of research firms have commented on LHX. Barclays increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

    Read Our Latest Research Report on LHX

    About L3Harris Technologies

    (Free Report)

    L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company’s Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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    Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHX – Free Report).

    Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

    Receive News & Ratings for L3Harris Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for L3Harris Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Rocket Lab Plans More Launches This Year

    Rocket Lab Plans More Launches This Year

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    Rocket Lab Plans More Launches This Year
    Launch: The Electron rocket carrying a satellite from Synspective Inc. launches from New Zealand on March 13.

    Rocket Lab USA Inc. has been busy of late with several launches completed and more planned for the future.

    The Long Beach launch provider successfully deployed a satellite for a Japanese customer in March, followed by a launch of its Electron rocket later that month for the deployment of a satellite for the National Reconnaissance Office.

    In April, the company launched satellites for the Korea Advanced Institute of Science and Technology and NASA. 

    And later this month, Rocket Lab will prepare to send up two Electron launches to deploy NASA’s technology to study the polar ice caps.

    The launch of “Owl Night Long,” by the company on March 13 from its pad in New Zealand was done for Synspective Inc., a Tokyo-based satellite developer.

    The Synspective StriX-3 satellite is the fourth one launched by Rocket Lab and was added to a constellation, or a group of satellites, all of which were launched by the aerospace provider.

    Just eight days later, on March 21, the company launched a satellite for the National Reconnaissance Office. It was the fifth satellite launched for the agency since 2020.

    “It’s an honor to continue delivering dedicated access to orbit for national security missions,” said Peter Beck, founder and chief executive of Rocket Lab, in a statement at the time of the launch.

    Satellites at different orbits

    Last month, Rocket Lab sent up two satellites at different orbits.

    The first one was for the Korea Advanced Institute of Science and Technology.

    NEONSAT-1 will perform Earth-observation of the Korean Peninsula for the institute, which will then pair the satellite’s data with artificial intelligence to monitor for natural disasters in the region. It was put into an orbit 323 miles above the Earth.

    The second was for NASA. It was a demo mission of the Advanced Composite Solar Sail System to show the feasibility of using sails powered by the sun to propel a spacecraft. It was deployed to an orbit 621 miles above the Earth.

    The capability to deploy two satellites more than 300 miles apart on the same launch is enabled by Electron’s Kick Stage, a small stage with engine relight capability to enable last-mile delivery. 

    The next Electron launch from New Zealand – named “Ready, Aim, PREFIRE” – will take place no earlier than May 22. The second mission for NASA – named “PREFIRE And Ice” – will take place within three weeks of the successful deployment of the first.

    Data from the mission, which consists of two small satellites with a mission length of 10 months, will improve understanding of how the Arctic and Antarctic help to regulate Earth’s climate, the mechanisms of polar ice loss and related issues of sea level rise and sea ice loss, according to the company.

    “It’s these types of missions where Electron really thrives as the leading launch provider for dedicated small satellite missions,” Beck said in a statement. “We have an excellent track record of delivering NASA’s payloads to exactly where they need to go and when they need to, and we’re looking forward to adding to that tally further with these next back-to-back launches.”

    The missions will be Rocket Lab’s 48th and 49th Electron launches overall and its sixth and seventh launches so far this year.

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  • Boeing’s weakness has a lesser known rival from Brazil gearing up to compete, and American Airlines’ CEO is a fan

    Boeing’s weakness has a lesser known rival from Brazil gearing up to compete, and American Airlines’ CEO is a fan

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    While Boeing struggles with regulatory hurdles and delivery delays, a smaller competitor known for its regional and business jets may be raising its ambitions to compete—possibly at its own peril.

    Brazil-based airplane manufacturer Embraer is reportedly exploring the idea of creating a next-generation narrow-body jet, the Wall Street Journal reported. Embraer’s new aircraft would take on Boeing’s 737 Max jets and Airbus’ A320 aircraft. It would mark the smaller company’s first attempt at direct competition against the two aerospace giants, which effectively control the market for planes with more than 130 seats.

    Embraer’s ambitions picked up after a 737 Max operated by Alaska Airlines lost a panel in midair in January, sources told the Journal. That incident prompted U.S. safety regulators to limit Boeing’s production.

    While Embraer denied reports that it would build a competing plane, a spokesperson told the Journal that it “certainly has the capability” to do so.

    Embraer already has a cheerleader in American Airlines CEO Robert Isom, who complimented the manufacturer on the carrier’s quarterly earnings call last month. American’s fleet includes three types of Embraer Regional Jets, all with fewer than 100 seats. 

    “I want to give a shout out to Embraer,” he said. “They have delivered day in and day out, throughout the pandemic, no matter the concerns of their supply chain.”

    When asked about delivery delays from Boeing, however, Isom had a different message: “Get your act together.” 

    Analysts at Bank of America led by Ronald Epstein echoed Isom’s sentiment, cheering on the possibility of Embraer taking a shot at the duopoly between Boeing and Airbus in a Friday note. The BofA analysts pointed out that between 1999 and 2019, Embraer was largely on time and on budget with its projects.

    “They really are an engineering marvel,” they wrote. “Therefore, we have no doubt Embraer could develop an excellent jet to compete in the same class as the 737 Max and the A320neo, on budget, on time and at a fraction of the cost of the other OEMs (original equipment manufacturers).”

    Morningstar equity analyst Nicolas Owens told Fortune that Embraer is one of a few, if not the only company, that could enter this market. But that doesn’t mean it will—or that it should.

    Owens said that while Embraer is a capable company, it is a fraction of the size of Boeing and Airbus and would be overwhelmed by the incredible cost of designing a new plane, scaling up production, and then convincing exceptionally skeptical carriers to take a chance on the new model.

    Embraer’s biggest plane at the moment, the E2, is smaller than the 737 and A320, and only about 100 of them have been produced since 2018, Owens said. Meanwhile, Boeing and Airbus are building 100 planes between them per month.

    “Embraer has some of the know-how in terms of design and technology, but not the hands-on know-how of what it takes to scale up building an even-larger jet,” Owens told Fortune in an email. “I don’t know where they’d get the startup funds to launch this product that wouldn’t see revenue for almost a decade.”

    Even the more optimistic analysts at Bank of America argued that Embraer would need to be creative to bring a competing plane to market, possible financing it through risk-sharing partners, direct investment by partners, or some other strategy. It would also have to deal with capital, geopolitical, and market access problems.

    It was the latter of these issues that made the difference the last time a competitor tried to take a shot at Boeing and Airbus, explained Owens in an April note. After spending more than 10 years and billions of dollars launching an aircraft to compete with the duopoly, Canadian aircraft manufacturer Bombardier was forced to sell its CSeries jet at a steep loss to Airbus after Boeing petitioned the U.S. Department of Commerce to hit it with a tariff for selling the plane below production cost. Another example lies in Japanese conglomerate Mitsubishi, which last year folded a 16-year effort to develop a regional jet. 

    The newest company to take on Boeing and Airbus, the CCP-backed COMAC, still relies on many U.S.-based parts and has a long while before it can produce them at any sizable quantity, Owens said.

    While Embraer’s ambitions are high, the reality of bringing a new plane to market may be too much to overcome, Owens wrote in a note for Morningstar.

    “Boeing and Airbus are the only two capable suppliers of globally competitive aircraft larger than 130 seats, and we don’t see any globally competitive new entrants entering the market anytime soon,” he predicted. 

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  • New Approach Paves the Future of Commercial Space Launch

    New Approach Paves the Future of Commercial Space Launch

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    ORLANDO, Fla., February 1, 2024 (Newswire.com)
    –
    For the first time, two launch service providers have agreed to simultaneously operate from a single launch complex. Phantom COO Mark Lester and Vaya COO Rob Fabian signed the memorandum of agreement at the Space Mobility Conference, outlining how the two companies will work concurrently at Cape Canaveral Space Force Station’s Launch Complex 13 (LC-13). 

    Commercial companies sharing a Launch Complex is a novel approach to maximize limited launch-site availability at the Cape. Historically, one company would exclusively occupy a Launch Complex and populate it with unique and proprietary infrastructure dedicated to its use. While this approach was satisfactory when available launch sites were plentiful and few launch vehicles existed, it is not sustainable in the rapidly growing and diverse commercial space launch environment.

    In addition to maximizing available land use, Phantom and Vaya’s approach provides significant national security advantages through responsive and resilient launch. The ability for multiple companies to share infrastructure and launch support systems in a nimble manner dramatically increases launch pad throughput and launch resilience to provide assured access to space. This approach leverages proven airport models where runways, taxiways, gates, and operational infrastructure are company-agnostic shared resources.

    “Vaya Space and Phantom value the importance of collaboration to create new responsive launch capability in a safe and efficient manner for long-term growth and sustainability. We have worked diligently together over the last several months on the agreement to underscore our commitment to safety and best address and balance government, spaceport, and company needs,” stated Phantom COO Mark Lester. 

    About Vaya Space 

    Vaya Space is a privately owned company based on the Space Coast and leveraging patented Vortex Hybrid engine technology to disrupt the Space and Defense markets. For media inquiries, please contact media@vayaspace.com. 

    About Phantom Space

    Founded by inventors and entrepreneurs Jim Cantrell and Michael D’Angelo, Phantom Space Corporation is a space transportation company democratizing space access by mass manufacturing launch vehicles, satellites, and space propulsion systems. Phantom’s vision is to become the “Henry Ford of Space Transportation” through the opportunity to mass manufacture and launch hundreds of rockets — a 100% U.S.-controlled-and-operated enterprise headquartered in Tucson, Arizona, with multiple launch operations centers. Learn more at https://www.phantomspace.com/. 

    Contact:
    Jim Cantrell, CEO
    (520) 207-2799
    pr@phantomspace.com

    Source: Vaya Space

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  • United pulls plans for Boeing’s biggest 737 Max jet after Max 9 groundings

    United pulls plans for Boeing’s biggest 737 Max jet after Max 9 groundings

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    United Airlines Holdings Inc. on Tuesday said it was rethinking its longer-term plans for Boeing’s biggest 737 Max jet, the Max 10, after the government’s grounding of dozens of Max 9s this month raised questions over whether the aircraft maker could still deliver planes on time.

    United
    UAL,
    +5.31%
    Chief Executive Scott Kirby said during the airline’s earnings call on Tuesday that it wasn’t canceling its orders for the Max 10. But he said the airline was taking the jet “out of our internal plans.”

    “We’ll be working on what that means exactly with Boeing,” he said. “But Boeing is not going to be able to meet their contractual deliveries on at least many of those airplanes.”

    United, during the call, said that it had 277 Max 10 jets on order for the rest of the decade. Of the 107 jets set for delivery this year, 31 were Max 9s. But Chief Financial Officer Michael Leskinen said was “unrealistic” to expect those jets to arrive as currently planned.

    “Look,” he said. “The reality is that with the with the Max grounding, this is the kind of straw that broke the camel’s back with believing that the Max 10 will deliver on the schedule we had hoped for.”

    He added: “It’s a great aircraft. But we can’t count on it. So we’re working on alternate plans.” 

    The decision on the Max 10 marks the latest blow to Boeing’s
    BA,
    -1.60%
    reputation, as safety concerns pile up after a panel tore off a 737 Max 9 jet flown by Alaska Airlines earlier this month.

    The Federal Aviation Administration grounded 171 Boeing 737 Max 9s for inspections, leading to scores of flight cancellations for both United and Alaska
    ALK,
    +2.87%    .
    United, when it reported fourth-quarter results on Monday, said it expected to lose money in the first quarter, following the impact of those cancellations. Still, shares were up on Tuesday on United’s full-year profit forecast.

    The FAA over the weekend also recommended that operators of Boeing’s 737-900ER planes “visually inspect mid-exit door plugs to ensure the door is properly secured.” Regulators around the world grounded the 737 Max in 2019 after two fatal crashes.

    Meanwhile, Ben Minicucci, the chief executive of Alaska Airlines, in an interview with NBC News published Tuesday, said inspectors found loose bolts on “many” of its Boeing 737 Max 9s after the mid-flight blowout.

    “I’m more than frustrated and disappointed,” he said in that interview. “I am angry. This happened to Alaska Airlines. It happened to our guests and happened to our people. And my demand on Boeing is, what are they going to do to improve their quality programs in-house?”

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  • USfalcon Announces Promotion of Greg Black to Senior Vice President

    USfalcon Announces Promotion of Greg Black to Senior Vice President

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    Press Release
    •

    Jan 22, 2024 13:00 EST


    CARY, N.C., January 22, 2024 (Newswire.com)
    –
    USfalcon is pleased to announce that Greg Black has been promoted to Senior Vice President. Greg has been with USfalcon since 2018 and is an accomplished leader with over 20 years of comprehensive experience in financial operations management. In his new role, Greg manages finance, accounting, subcontracts, procurement, and information technology for the company.

    Pete von Jess, CEO, stated “Greg is a trusted expert in his field with a deep understanding of financial operations. I look forward to supporting him in his new role as we work to implement growth plans for the business.”

    www.usfalcon.com

    Source: USfalcon, Inc.

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  • Danielle Esposito Joins USfalcon as COO

    Danielle Esposito Joins USfalcon as COO

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    Press Release
    •

    Jan 17, 2024


    CARY, N.C., January 17, 2024 (Newswire.com)
    –
    USfalcon is pleased to announce that Danielle Esposito has joined USfalcon as Chief Operating Officer (COO). Danielle brings 20 years of comprehensive operations management and compliance experience overseeing the execution of multi-million-dollar contracts. Prior to joining USfalcon, she was CEO of a private consultancy firm and the President and COO at DGCI. Danielle will lead operations, business development, proposal development, and contracts for the company.  

    Pete von Jess, CEO, stated “We are excited to welcome Danielle to the USfalcon family. She is an experienced and tested leader with a strong background in operations management both overseas and within our U.S. borders. We look forward to working with her to enhance and expand our business offerings.”

    www.usfalcon.com

    Source: USfalcon

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  • USfalcon Inc., a Member of Gemini Technical Services JV, Awarded Space Force, Space Training and Readiness Command – 3IS III

    USfalcon Inc., a Member of Gemini Technical Services JV, Awarded Space Force, Space Training and Readiness Command – 3IS III

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    Press Release
    •

    Jan 16, 2024


    COLORADO SPRINGS, Colo., January 16, 2024 (Newswire.com)
    –
    USfalcon Inc., a partner of the Gemini Technical Services JV LLC, Oklahoma City, Oklahoma, a provider of U.S. DoD Technical Professional Services, was awarded a maximum $350,000,000 cost-plus-fixed-fee, firm-fixed-price, indefinite-delivery/indefinite-quantity contract for Innovation, Integration, and Information Support to Space Training and Readiness Command (STARCOM). 

    This contract provides support services for military training, exercises, test and evaluation, wargames, information technology, plans, and operations for Department of Defense frontline warfighters. Work will be performed in Colorado Springs, Colorado, and is expected to be completed by Dec. 31, 2030.

    USfalcon Inc., has supported the 3IS program for 12 years and remains committed to excellence and providing these mission-critical services to STARCOM and its joint clients.

    www.usfalcon.com

    Source: USfalcon, Inc.

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  • Boeing 737 MAX 9 Issue Isn’t Going Away Soon. What to Know Before Buying the Stock.

    Boeing 737 MAX 9 Issue Isn’t Going Away Soon. What to Know Before Buying the Stock.

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    As Boeing stock enters its second week of volatile trading following the 737 MAX 9 accident, and it’s still not quite clear whether its shares have been punished enough—or if there is more pain ahead.

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  • Boeing’s financials won’t be hurt by latest 737 Max issues, analysts say. The company’s size is one reason.

    Boeing’s financials won’t be hurt by latest 737 Max issues, analysts say. The company’s size is one reason.

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    Alaska Airlines, United Airlines and Turkish Airlines have all grounded their Boeing 737 Max 9 airplanes after part of one such jet tore away during an Alaska Airlines flight on Friday. But despite the potential safety risks for travelers and further damage to Boeing’s
    BA,
    -8.03%
    reputation, some Wall Street analysts, for now, have downplayed the financial impact for the jet maker.

    In part, they pointed to the company’s status as one of two major players in aircraft production — the other being Airbus
    EADSY,
    +3.52%    .
    They also cited a tighter supply of available aircraft and limited near-term impact, at least while investigators try to figure out the cause of the incident.

    Those airlines and others took the action over the weekend after a panel on a jet blew out about 10 minutes into Alaska Airlines Flight 1282 at an altitude of about 16,000 feet.

    No one died in the incident. But the Federal Aviation Administration ordered the temporary grounding of certain Boeing 737 Max 9 aircraft. The order covered 171 planes.

    Shares of Boeing fell 8.2% as the stock weighed on the Dow Jones Industrial Average
    DJIA.

    Still, some Wall Street analysts on Monday said to buy the stock anyway. They said the latest difficulties with the aircraft — which follow the 2019 grounding of Max jets by many nations following two fatal crashes — were unlikely to have a big near-term financial impact.

    BofA analysts, in a research note dated Sunday, said that “at this point in time, due to the duopoly nature of the industry, we do not see this impacting orders for any of the 737 MAX variants. However, if the hits to the program do keep coming … at some point, the flying public may lose confidence in the 737 MAX which could ultimately impact sales.”

    The analysts said it wasn’t clear yet whether the blowout on Friday was due to an assembly mistake at Boeing, an improper installation from fuselage maker Spirit AeroSystems or oversight issues elsewhere. But they noted that the aircraft was relatively new, having been delivered on Oct. 31. And they said that “some scrutiny must be saved for regulators as well, as the FAA is ultimately responsible for certificating these aircraft before delivery.”

    Spirit AeroSystems’ stock
    SPR,
    -11.13%
    was down 11%.

    Analysts at William Blair also said they didn’t expect a big hit to Boeing’s financials.

    “While the Alaska Airlines door plug accident was terrifying, we do not believe that it will have a major financial impact, unless another incident occurs after the aircraft returns to service,” they said in a note on Monday.

    Analysts there estimated that over the past two months, the Max 9 made up less than one-fifth of Boeing’s total deliveries. They said those deliveries would only be “modestly impacted over the first quarter as it could take some time to determine the cause.”

    Of the 23 analyst ratings on Boeing’s stock tracked by FactSet, 18 are buy ratings or the equivalent.

    Read more: How Boeing’s latest 737 Max problem is hurting the Dow

    However, Morgan Stanley analyst Ravi Shanker said the 737 Max 9 issues will likely disrupt first-quarter results for United Airlines
    UAL,
    +2.78%
    and Alaska Air
    ALK,
    -0.21%    .

    “This will hopefully be a situation resolved in days/weeks rather than months, but it will also serve as a reminder of how fragile airline capacity can be despite the overhang of capacity,” Shanker said in a Monday research note.

    United Airlines’ stock rose 2.4% on Monday, while Alaska Air’s dipped by 0.3%.

    Along with United Airlines, Alaska Airlines and Turkish Airlines, Copa Airlines and Aeromexico grounded about 40 Boeing 737 Max 9 planes, according to reports.

    According to Deutsche Bank analysts, the affected fleet accounts for 16.1% of Alaska Airlines flights and 6.6% of United flights, although United has more 737 Max 9 aircraft than Alaska.

    Other airlines with the plane in their fleet include Jet Airways of India with one plane, Jin Air of Korea with three, KLM Royal Dutch Airlines
    KLMR,

    with five and Korean Air Lines
    003490,
    -1.52%
    with nine, according to Planespotter.net.

    European regulators also grounded the 737 Max 9 for inspection.

    Some major airlines do not have any 737 Max 9s in their fleets, including American Airlines
    AAL,
    +7.21%    ,
    Southwest Airlines
    LUV,
    -0.10%
    and Air Canada
    AC,
    +3.42%    ,
    according to reports.

    Also read: Shares in Boeing slump, supplier Spirit AeroSystems tanks, after panel blows out

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  • Alaska Airlines grounds all Boeing 737-9 Max planes after flight suffers midair window blowout

    Alaska Airlines grounds all Boeing 737-9 Max planes after flight suffers midair window blowout

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    Alaska Airlines grounded all of its Boeing 737-9 aircraft late Friday, hours after a window and piece of fuselage on one such plane blew out in midair and forced an emergency landing in Portland, Oregon.

    The incident occurred shortly after takeoff and the gaping hole caused the cabin to depressurize. Flight data showed the plane climbed to 16,000 feet (4,876 meters) before returning to Portland International Airport.

    The airline
    ALK,
    +3.10%
    said the plane landed safely with 174 passengers and six crew members.

    “Following tonight’s event on Flight 1282, we have decided to take the precautionary step of temporarily grounding our fleet of 65 Boeing 737-9 aircraft,” Alaska Airlines CEO Ben Minicucci said in a statement.

    Each of the aircraft will be returned to service after full maintenance and safety inspections, which Minicucci said the airline anticipated completing within days.

    The airline provided no immediate information about whether anyone was injured or the possible cause.

    The plane was diverted about about six minutes after taking off at 5:07 p.m., according to flight tracking data from the FlightAware website. It landed at 5:26 p.m.

    The pilot told Portland air traffic controllers the plane had an emergency, was depressurized and needed to return to the airport, according to a recording made by the website LiveATC.net.

    A passenger sent KATU-TV in Portland a photo showing the hole in the side of the airplane next to passenger seats. Video shared with the station showed people wearing oxygen masks and passengers clapping as the plane landed.

    The National Transportation Safety Board said in a post on X, formerly known as Twitter, that it was investigating an event on the flight and would post updates when they are available. The Federal Aviation Administration also said it would investigate.

    The Boeing 737-9 MAX involved in the incident rolled off the assembly line and received its certification just two months ago, according to online FAA records.

    The plane had been on 145 flights since entering commercial service on Nov. 11, said FlightRadar24, another tracking service. The flight from Portland was the aircraft’s third of the day.

    Boeing
    BA,
    +1.66%
    said it was aware of the incident, working to gather more information and ready to support the investigation.

    The Max is the newest version of Boeing’s venerable 737, a twin-engine, single-aisle plane frequently used on U.S. domestic flights. The plane went into service in May 2017.

    Two Max 8 jets crashed in 2018 and 2019, killing 346 people and leading to a near two-year worldwide grounding of all Max 8 and Max 9 planes.

    The planes returned to service only after Boeing made changes to an automated flight control system implicated in the crashes.

    Last year, the FAA told pilots to limit use of an anti-ice system on the Max in dry conditions because of concern that inlets around the engines could overheat and break away, possibly striking the plane.

    Max deliveries have been interrupted at times to fix manufacturing flaws. The company told airlines in December to inspect the planes for a possible loose bolt in the rudder-control system.

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  • North Korea provided Russia with missiles that hit Ukraine, White House says

    North Korea provided Russia with missiles that hit Ukraine, White House says

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    The Democratic People’s Republic of Korea recently provided Russia with ballistic-missile launchers and ballistic missiles, and some of those missiles were launched into Ukraine on Dec. 30 and Jan. 2, White House spokesman John Kirby told reporters on Thursday. “This is a significant and concerning escalation in the DPRK’s support for Russia,” he said at a daily press briefing.

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  • U.S. manufacturing sector shrinks for 14th straight month in December

    U.S. manufacturing sector shrinks for 14th straight month in December

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    The numbers: A closely watched index that measures U.S. manufacturing activity rose by 0.7 percentage point to 47.4 in December, according to the Institute for Supply Management on Wednesday.

    Economists surveyed by the Wall Street Journal had forecast the index to rise to 47.2. 

    Any number below 50 reflects a shrinking economy. Manufacturing has contracted for 14 straight months.

    Key details: The key new-orders index fell 1.2 percentage points to 47.1 in December.

    Production rose 1.8 percentage points to 50.3 from the prior month. Employment picked up slightly but remained below the 50-percentage-point threshold.

    Prices fell 4.7 percentage points to 45.2. That’s the biggest drop since May 2023. Inventories were down 0.5 percentage point to 44.3 in December.

    Customer inventories dipped back below 50 last month to 48.1 in December.

    Only one industry, primary metals, reported growth in December, while 16 reported contractions.

    Layoffs picked up in December, concentrated in the computer and electronics, machinery, and food and beverage sectors.

    Big picture: The contraction in manufacturing is the longest since 2000-01, after the dot-com bubble exploded, said Jay Hawkins, senior economist at BMO Capital Markets.

    Economists said that depressed capital spending has been the key drag on the factory sector, along with weak global trade. They expect that a sharp drop in long-term interest rates will improve the picture, but the change won’t happen overnight.

    What the ISM said: Tim Fiore, chair of the ISM manufacturing survey committee, was relatively upbeat about the data. He said the sector was closing the year in a “really good position” and forecast that the ISM factory index would rise above the 50-percentage-point threshold by March. Fiore said he also expects the inventory number to pick up in coming months.

    What economists said: “The survey indicates that conditions in the factory sector remain unusually weak and that output is likely to continue declining for at least a few more months,” said Andrew Hunter, deputy chief U.S. economist at Capital Economics.

    Market reaction: Stocks
    DJIA

    SPX
    were lower in early trading on Wednesday, while the yield on the 10-year Treasury note
    BX:TMUBMUSD10Y
    rose to just below 4%.

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  • GE's stock has its best year on record ahead of final breakup

    GE's stock has its best year on record ahead of final breakup

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    General Electric Co. has saved its best year for its last.

    At the beginning of the second quarter, GE’s power and renewable-energy business will be spun off as GE Vernova, while its remaining business will be relaunched as GE Aerospace. That follows the conglomerate’s separation of GE HealthCare Technologies Inc.
    GEHC,
    -0.28%
    in December 2022.

    But rather than mourn the final breakup of the 150-year old company, which was co-founded by Thomas Edison, Wall Street cheered like it never had before.

    GE’s stock
    GE,
    -0.54%
    has rocketed 95.1% in 2023 as of afternoon trading Friday. That would be by far the stock’s best year on record, based on available data going back to 1972, according to Dow Jones Market Data. The next best year was 1982, when it gained 65.4%. In comparison, the S&P 500 index
    SPX
    has rallied 24.2% this year.

    Read: GE stock sees biggest rally in more than 2 years after a big earnings beat, raised outlook.

    As good as the stock’s performance has been leading up to the breakup, most analysts feel like investors still have more to gain. Keep in mind that in many cases, a company’s parts are worth more individually than they are valued as part of a whole.

    Wells Fargo’s Matthew Akers has a pre-breakup target of $144 on GE’s stock, which implies about 13% upside from current levels.

    “GE combines an attractive business with high aftermarket mix, solid management team with a clean balance sheet, L-T margin upside and built-in catalyst with the Vernova spin in early Q2,” Akers wrote.

    J.P. Morgan’s Seth Seifman said he believes the combined equity values of GE Vernova and GE Aerospace, when including the company’s equity stake in GE HealthCare, is about $149 billion. That compares with GE’s current market capitalization of about $139 billion.

    Of the 18 analysts surveyed by FactSet who cover GE, 12 are bullish and six are neutral, while there are no bears. And the average price target is $139.23, or about 9% above current levels.

    GE’s 2023 marks the culmination of a five-year turnaround for the stock engineered by current Chief Executive Larry Culp, who will remain as CEO of GE Aerospace.

    GE’s stock has nearly tripled in the five years that Larry Culp has been CEO, outperforming the S&P 500 by a wide margin.


    General Electric Co.

    The stock had suffered its worst year ever in 2018, plunging 56.6%, just after it had its fourth-worst year in 2017, when it suffered a 44.8% decline.

    Things got so bad for GE that it got booted from the Dow Jones Industrial Average
    DJIA
    in June 2018, ending a record 111-year run in the blue-chip barometer.

    Culp was named CEO in October 2018. During his tenure, GE’s stock has had only two down years. It fell 3.2% in 2020 as the COVID-19 pandemic wreaked havoc on the aerospace business, and slumped 11.3% in 2022 as spiking inflation and interest rates fueled fears that a recession was on the horizon.

    But since the end of 2018, GE’s stock has climbed 181%, while the S&P 500 has rallied 90% and the Dow has gained 61%.

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  • Airbus Gets Order From Cathay Pacific for Six A350F Aircraft Worth $2.7 Bln

    Airbus Gets Order From Cathay Pacific for Six A350F Aircraft Worth $2.7 Bln

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    By Adria Calatayud

    Airbus and Hong Kong’s Cathay Pacific Airways have signed a purchase agreement for six A350F freighter aircraft with a basic price of $2.71 billion before price concessions, the companies said Friday.
    

    Cathay said Airbus granted it significant price concessions which might be used toward the payment of the aircraft. The basic price comprises prices for airframe, optional features and engine, Cathay said.
    

    

    The aircraft, expected to be delivered by the end of 2029, will expand Cathay’s cargo fleet capacity and will mainly serve long-haul destinations in North America, South America and Europe, it said.
    

    Airbus said the A350F can carry a payload of up to 111 metric tons and can fly up to 4,700 nautical miles, or 8,700 kilometers.
    

    Write to Adria Calatayud at adria.calatayud@dowjones.com
    

    

    

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  • 
		
		
    
			
    Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)
    
			
    Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)
    
			
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    Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 43.3% in the second quarter, HoldingsChannel reports. The firm owned 126,379 shares of the rocket manufacturer’s stock after purchasing an additional 38,177 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rocket Lab USA were worth $758,000 at the end of the most recent reporting period. 
    

    A number of other institutional investors and hedge funds have also recently modified their holdings of RKLB. Point72 Hong Kong Ltd purchased a new position in shares of Rocket Lab USA in the second quarter valued at $27,000. Tower Research Capital LLC TRC boosted its stake in Rocket Lab USA by 79.5% during the first quarter. Tower Research Capital LLC TRC now owns 10,014 shares of the rocket manufacturer’s stock worth $40,000 after buying an additional 4,435 shares during the period. Baxter Bros Inc. purchased a new position in Rocket Lab USA during the first quarter worth $40,000. PFG Investments LLC purchased a new position in Rocket Lab USA during the first quarter worth $42,000. Finally, Envestnet Asset Management Inc. purchased a new position in Rocket Lab USA during the fourth quarter worth $44,000. 54.19% of the stock is owned by hedge funds and other institutional investors. 
    

    Insider Activity at Rocket Lab USA
    

    In related news, CEO Peter Beck sold 3,600,000 shares of Rocket Lab USA stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,951,250 shares in the company, valued at $286,346,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Peter Beck sold 3,600,000 shares of Rocket Lab USA stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,951,250 shares in the company, valued at $286,346,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 19,443 shares of Rocket Lab USA stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $4.46, for a total value of $86,715.78. Following the completion of the transaction, the general counsel now owns 505,947 shares in the company, valued at approximately $2,256,523.62. The disclosure for this sale can be found here. Insiders sold 3,677,164 shares of company stock worth $20,576,151 over the last three months. 15.00% of the stock is owned by corporate insiders. 
    

    Rocket Lab USA Stock Down 2.8 %
    

    


    

    NASDAQ:RKLB opened at $4.45 on Wednesday. Rocket Lab USA, Inc. has a twelve month low of $3.48 and a twelve month high of $8.05. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.36 and a beta of 1.17. The stock has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.34. The company has a current ratio of 1.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. 
    

    Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last released its earnings results on Wednesday, November 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $67.66 million during the quarter, compared to the consensus estimate of $67.56 million. Rocket Lab USA had a negative return on equity of 26.98% and a negative net margin of 71.62%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Analysts anticipate that Rocket Lab USA, Inc. will post -0.37 EPS for the current year. 
    

    Analyst Ratings Changes
    

    Several research firms have commented on RKLB. Stifel Nicolaus dropped their price objective on shares of Rocket Lab USA from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Citigroup dropped their price objective on shares of Rocket Lab USA from $7.40 to $5.75 in a research note on Wednesday, September 20th. Cantor Fitzgerald began coverage on shares of Rocket Lab USA in a research note on Thursday, October 26th. They set an “overweight” rating and a $6.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $6.75 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 20th. Finally, TD Cowen dropped their price objective on shares of Rocket Lab USA from $9.50 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.82.
    

    Read Our Latest Report on RKLB
    

    Rocket Lab USA Profile
    

     (Free Report)
    

    Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.
    

    See Also
    

    Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report).
    

    Institutional Ownership by Quarter for Rocket Lab USA (NASDAQ:RKLB)
    

    Receive News & Ratings for Rocket Lab USA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rocket Lab USA and related companies with MarketBeat.com’s FREE daily email newsletter.
    

    

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  • 
		
		
    
			
    Amazon hires three rocket launches from Musk’s SpaceX
    
			
    Amazon hires three rocket launches from Musk’s SpaceX
    
			
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    Amazon.com Inc.
    
        AMZN,
    
        +0.64%
    
       said Friday it has hired Elon Musk’s SpaceX for three Falcon 9 rocket launches to support deployment plans for Project Kuiper, Amazon’s low Earth orbit satellite broadband network. The deal, the first between the companies, is considered a surprise since the Kuiper system is likely to compete with SpaceX’s Starlink in the satellite broadband market. Amazon previously ordered launches from three of SpaceX’s top rocket rivals, including Jeff Bezos’ Blue Origin.  Amazon declined to comment on terms of the new deal with SpaceX.
    

    

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  • 
		
		
    
			
    George Santos expelled from Congress in House vote. Here's what comes next.
    
			
    George Santos expelled from Congress in House vote. Here's what comes next.
    
			
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    Rep. George Santos on Friday was expelled from Congress in an historic vote, following a congressional panel’s findings of substantial evidence of lawbreaking by the New York Republican.  
    

    Santos becomes just the sixth lawmaker in U.S. history to be expelled, a move that takes two-thirds of the House of Representatives. The vote was 311-114, with 105 Republicans joining 206 Democrats to remove him.  
    

    

    New York Gov. Kathy Hochul, a Democrat, will have 10 days to schedule a special election for the seat, according to state law. 
    

    That contest could result in Democrats picking up another seat in the narrowly divided House, which Republicans now control with 222 members to Democrats’ 213. The nonpartisan Cook Political Report rates the seat “Lean Democrat.”  
    

    Read: Congress returns to face big to-do list: Israel and Ukraine aid, possible border or tax deals, and more 
    

    A simple majority, or 218 members when no seats are vacant, is required to pass most House legislation.   
    

    Santos earlier this month said he would not run for re-election in the wake of a House Ethics panel report. That report said the congressman caused his campaign committee to file false or incomplete reports with the Federal Election Commission, and used campaign funds for personal purposes including Botox treatments and luxury goods. 
    

    Now see: George Santos won’t run for re-election after ethics panel finds ‘substantial evidence’ of lawbreaking
    

    The expulsion vote came amid a busy post-Thanksgiving period for Congress, with lawmakers debating President Joe Biden’s $106 billion funding request that includes wartime aid for Israel and Ukraine. Biden is trying to sweeten his pitch for aid for Ukraine by mixing in $14 billion for securing the U.S. southern border in the hope that it will bring more Republicans on board. 
    

    See: Congress returns to face big to-do list: Israel and Ukraine aid, possible border or tax deals, and more  
    

    Santos on Thursday remained defiant in the face of the looming vote, criticizing his House colleagues and saying he’s watched them “waste the American people’s time over and over again.”  
    

    “This will haunt them in the future where mere allegations are sufficient to have members removed from Congress when duly elected by their people in their respective states and districts,” he said at a news conference on Capitol Hill.  
    

    It will be up to local party leaders to select special-election candidates. On the Democratic side, former Rep. Tom Suozzi and former state senator Anna Kaplan have announced bids; while Republicans Mazi Melesa Pilip, a Nassau County legislator, and former J.P. Morgan executive Kellen Curry are potential picks for their party, according to Semafor.  
    

    Santos is separately facing charges he stole the identities of donors to his campaign and then used their credit cards to ring up tens of thousands of dollars in unauthorized charges. 
    

    Read: Rep. George Santos faces new charges alleging he stole donor IDs, made unauthorized credit-card charges  
    

    Expulsion is the sternest form of punishment and has occurred just five times in the history of the House — three times during the Civil War for disloyalty to the Union and twice after convictions on federal charges, most recently in 2002.  
    

    Two Democrats — Bobby Scott of Virginia and Nikema Williams of Georgia — voted against expelling Santos, while two other Democrats — Jonathan Jackson of Illinois and Al Green of Texas — voted present.
    

    House Speaker Mike Johnson, a Louisiana Republican, said Santos should not be expelled before a criminal case against him is resolved. Johnson and the three other top House GOP leaders voted for Santos to remain in Congress.       
    

    Victor Reklaitis and the Associated Press contributed 
    

    

    

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