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Intuitive Machines' Nova-C lander "Odysseus" deploys from the upper stage of SpaceX's Falcon 9 rocket to begin the IM-1 mission. Shares of Intuitive Machines jumped for a second consecutive day after the company issued an update that said its moon lander mission "is in excellent health." The Texas-based lunar company launched its inaugural cargo mission, known as IM-1, on a SpaceX rocket early Thursday morning. Intuitive Machines' stock jumped as much as 30% in early trading Friday before paring gains to trade up about 16% from its previous close of $6.70 a share. Since IM-1 launched, Intuitive Machines' stock is up 75% as of Friday's trading high.
Persons: Andrew Chanin, that's, Chanin Organizations: SpaceX, CNBC, NASA Locations: Texas
But behind the scenes, there are a host of companies that benefit from the cleanup and rebuilding that follows natural disasters. This year's Atlantic hurricane season is running above average compared to prior years, with 14 storms, four hurricanes and three major hurricanes so far. As climate change feeds extreme weather, the number of billion-dollar disasters also increases, benefiting some companies and hurting others. In 2022, the U.S. experienced 18 weather and climate disasters which cost at least $1 billion each. The fluid engineering and chemical processing has gained 30% this year, has a median rating of overweight and a price target implying 10% further upside, according to FactSet.
Persons: Hurricane Lee, Andrew Chanin, Sterling, Chanin, FactSet . Organizations: Hurricane, Sterling Infrastructure, SNC, Lavalin, Morningstar, Bloomberg, Sulzer, Citigroup, Supply, Holdings Locations: New England, Canada, U.S, Houston, Canadian, United States, Swiss, FactSet . Great
A budding ecosystem of companies stand to gain as businesses and policymakers grow increasingly focused on improving the electric grid. President Joe Biden committed $95 million to shore up Hawaii's electric grid following the tragedy. Beyond that, Kalton said it's also just good business sense: Utility companies don't want their grids to go down and leave unhappy customers without power. And he said utility companies can grow earnings power by spending capital and increasing their base rate. An ecosystem of companies Beyond physically changing the grid, some companies are making progress elsewhere, said Chanin, whose ETF is up about 18% this year.
Persons: Neil Kalton, Joe Biden, It's, , Said, Kalton, it's, Steven Fisher, doesn't, Fisher, Andrew Chanin, Chanin, Eaton, Michael Bloom Organizations: NBC News, Electric, UBS, Primoris Services, LSEG, Nvidia Locations: Maui, U.S, Wells Fargo, California , Colorado, Oregon, California, Florida, Texas
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Rocket Lab is up 85% so far this year, closing back in on its $10 a share starting point two years ago, while Redwire is close behind, up 78%. Rocket Lab is the index's No. Chanin noted that with many of these space stocks having debuted at $10 a share they're largely still trying to get back to where they started. Rocket Lab has a healthy lead but we'll see who ends up on top come the end of the year – with the market watching closely for continued execution.
Persons: CNBC's Michael Sheetz, Redwire, it's, Andrew Chanin, , Stocks, Chanin Organizations: Rocket Lab Locations: ProcureAM
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHopefully Virgin launch will be a shot in the arm for space tourism industry: Fmr. NASA astronautLeroy Chiao, former NASA astronaut, and Andrew Chanin, Procure Holdings CEO, join 'Last Call' to discuss Virgin Galactic's first commercial space flight, the future of space tourism, and where to invest in the industry.
Persons: Leroy Chiao, Andrew Chanin Organizations: NASA, Virgin
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