DIRS.INFO The most relevant business & tech news

☆ Rocket Lab says contract backlog tops $1 billion, outlines Neutron progress toward first launch
▼ + stars: | 2024-02-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023. Rocket Lab is making steady progress on the development of its Neutron vehicle, as the company reported fourth-quarter results that saw its contract backlog soar above $1 billion. Year over year, Rocket Lab's fourth-quarter net loss widened by about 36% as the company continues to spend heavily to create its Neutron rocket. Shares of Rocket Lab slipped 5% in after-hours trading from its close at $4.71. Rocket Lab forecast first-quarter revenue between $92 million and $98 million.

Persons: Peter Beck Organizations: Revenue, LSEG, Space Development Agency, Rocket Locations: New Zealand

☆ Stocks making the biggest moves premarket: Rivian, Rocket Lab, Hershey, Lowe's and more
▼ + stars: | 2024-02-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Rocket Lab — The stock rose around 1% after Citi reinstated coverage with a buy rating. Lowe's — The home improvement retailer added 1.7% after JPMorgan raised its rating on shares to overweight from neutral. Urban Outfitters — Shares rose more than 2% after an upgrade from UBS ahead of the retailer's fourth-quarter earnings release slated for this month. On Monday, Bank of America Securities reiterated a neutral rating on the stock, but noted leadership has "the playbook to turn things around." Marqeta — Shares of the card issuing technology company rose 6.5% premarket after a Bank of America upgrade to buy from neutral on Monday.

Persons: Hershey, Morgan Stanley, Jason Gursky, Piper Sandler, Lowe's, XPO, BofA, CNBC's Michelle Fox, Sarah Min, Tanaya Macheel Organizations: Citi, Space Development Agency, U.S ., Teva Pharmaceutical Industries, JPMorgan, Federal Reserve, UBS, Barclays, New York Community Bancorp, Bank of America Securities, Bank of America

☆ Stocks making the biggest moves midday: New York Community Bancorp, Diamondback Energy, VF Corp. and more
▼ + stars: | 2024-02-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Bank of America also reiterated its neutral rating on Monday, while noting that leadership has "the playbook to turn things around." Diamondback Energy — The shale producer jumped 9.4% after announcing its purchase of Endeavor Energy, the biggest private company that produces natural resources from the Permian Basin. CymaBay Therapeutics , Gilead — Shares of CymaBay soared 25.4% after Gilead agreed to buy the drug developer. The deal comes as Gilead, whose shares were up around 1% in Monday's session, looks to expand beyond HIV drugs. Marqeta — The credit card technology stock added 5.7% after a Bank of America upgrade to buy from neutral.

Persons: Gilead, Bracken Darrell, Trimble, —, Joe Ahlersmeyer, Piper Sandler, Teva, Samantha Subin, Sarah Min Organizations: New York Community Bancorp, Bank of America, Endeavor Energy, CymaBay Therapeutics, Gilead, VF Corp, Reuters, Mohawk Industries, Deutsche Bank, Citi, Space Development Agency, Teva Pharmaceutical —, JPMorgan, Nvidia Locations: Israel

☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ Pentagon awards $2.5 billion in satellite contracts to L3Harris, Lockheed Martin and Sierra Space
▼ + stars: | 2024-01-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

The Pentagon on Tuesday announced about $2.5 billion in contracts will go to L3Harris , Lockheed Martin , and Sierra Space to build satellites for an expanding military system. These satellites will be for the "Tranche 2 Tracking Layer" of the satellite constellation, related to missile defense. Under the awards, each company will build 18 satellites — 16 for missile warnings and tracking, and two with missile defense infrared sensors. The fixed-price contracts are worth $919 million for L3Harris, $890 million for Lockheed Martin, and $740 million for Sierra Space, respectively. PWSA is a constellation designed to have hundreds of satellites in orbit, for greater resiliency and redundancy than previous U.S. military satellites.

Persons: Lockheed Martin's, Lockheed Martin, Derek Tournear Organizations: Lockheed, Pentagon, Sierra Space, Development Agency Locations: L3Harris, U.S

☆ Investing in Space: The military doled out $6 billion for rocket launches — and it's not done yet
▼ + stars: | 2023-11-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. The orders are in and we now finally know how the Space Force's most recent block buy of rocket launches shook out: In the end, the military dished out over $5.6 billion in contracts to SpaceX and ULA for 48 launches. The folks over at Space Force's Space Systems Command shared with me the full breakdown of the National Security Space Launch (NSSL) Phase 2 contract awards. In total, Space Force assigned United Launch Alliance (ULA) with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion. One important thing to keep in mind: This discussion is entirely about ordering launches, not actually launching the rockets themselves.

Persons: CNBC's Michael Sheetz, SSC's, Doug Pentecost, ramped, Pentecost, it's, I've, we've Organizations: SpaceX, Space Force, Systems Command, National Security, United Launch, DOD, Space, SSC Locations: ULA, U.S

☆ Pentagon awards $1.3 billion in contracts to Northrop Grumman and York for 100 satellites
▼ + stars: | 2023-10-30 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

The Pentagon's Space Development Agency on Monday announced about $1.3 billion in contracts to York Space and Northrop Grumman to build communications satellites. Under the T2TL-Alpha awards, Northrop will build 38 "data transport" satellites for $732 million, while York will build 62 satellites for $617 million. Northrop's award to build Alpha variant satellites for T2TL comes months after the defense giant won an SDA order for Beta variants. In August, Northrop won a $733 million award to build 36 satellites for the T2TL-Beta segment of PWSA, alongside Lockheed Martin . The SDA has previously awarded contracts to build and operate satellites in its fleet to SpaceX and L3Harris, in addition to Northrop, York and Lockheed.

Persons: Northrop Grumman, Northrop, Lockheed Martin Organizations: Space Development Agency, York Space, Northrop, Alpha, Lockheed, Pentagon, Space Force, SpaceX, CNBC Locations: York

☆ Investing in Space: A reality check on SPAC frenzy revenue projections
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +13 min

Overview: Forecast or fantasyWe're now at least two years on from when a slew of space companies went public during the SPAC frenzy, and, look, none of them look great. Now a bit further down the road, I want to look at a different financial metric: 2023 revenue projections. I ran an informal series for a while to mark when a space company announced it was going public. The rest of the pack isn't as on the mark: A few companies are roughly halfway to their earlier 2023 revenue projections, or performing even better. Spire forecast 2023 revenue of $227 million and is closing in on about $107 million.

Persons: Angela Weiss, CNBC's Michael Sheetz, it's, I'd, Here's, Derek Tournear, Ron Rosano, Trevor Beattie, Namira Salim, –, REx, Christopher Povak, Lisa Watson, Morgan, – Watson, Morgan Starliner, General, NASA Astrobotic, Andy Lapsa Organizations: New York Stock Exchange, AFP, Getty, Terran, Galactic Astra, CNBC, Pentagon, Space Development Agency, LinkedIn, Galactic, NASA, NASA NRO, Soyuz, – Reuters, Reuters SpaceX, FAA, Federal Aviation Administration, IAC, Lunar Research, SpaceX, Boeing NASA, Moonshots Capital, Lavrock Ventures, Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory, Astra, – Bloomberg, ViaSat, Viasat Locations: Russian, Azerbaijan, Russia, Venezuela, South Africa, Florida, Washington, CNBC Los Angeles

☆ Investing in Space: Why the Pentagon is spending billions to build its own satellite constellation
▼ + stars: | 2023-08-31 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Low Earth orbit satellite constellations are all the rage, but up to this point they've been the prospective domain of commercial entities. SDA is about to launch the second mission of its constellation known as the "Proliferated Warfighter Space Architecture," or PWSA. The Transport satellites in Tranche 0 cost about $15 million each, according to Jennifer Elzea, the agency's chief of strategic engagement. Investing in Space programming note: I will be out next week, but back the following for the World Satellite Business Week conference in Paris!

Persons: Lockheed Martin's, CNBC's Michael Sheetz, Lockheed Martin, Chris Winslett, Winslett, Jennifer Elzea, Elzea, It's, Mike Eppolito, we'll, Eppolito Organizations: Lockheed, Space Development Agency, U.S . Space Force, Transport, Pentagon, SpaceX, Space Force, Command, PWSA, World Locations: tranches, York, Paris

☆ Pentagon space arm awards $1.5 billion contract to Lockheed Martin and Northrop Grumman for communications satellites
▼ + stars: | 2023-08-21 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The Pentagon's Space Development Agency on Monday awarded $1.5 billion in contracts to Lockheed Martin and Northrop Grumman for prototype communications satellites. Lockheed and Northrop will each build 36 of the prototype satellites, scheduled to begin launching by September 2026. Those "Tranche 0" satellites were the first effort to demonstrate the feasibility of SDA's network. In addition to communications, the SDA network aims to provide the U.S. military with features such as missile warning and tracking capabilities. SDA has previously awarded contracts to build and operate satellites in its fleet to York Space, SpaceX, Lockheed Martin, Northrop Grumman, and L3Harris .

Persons: Lockheed Martin, Northrop, Northrop Grumman Organizations: Space Development Agency, Lockheed, Northrop Grumman, Northrop, SDA, CNBC, Pentagon, Space Force, Department of Defense's, Command, Control, SpaceX

Seoul, South Korea CNN —North Korea’s attempt to launch a military reconnaissance satellite failed Wednesday when the second stage of the rocket failed, state-run Korean Central News Agency (KCNA) said, adding that Pyongyang planned to carry out a second launch as soon as possible. North Korea’s National Space Development Agency said it would investigate the failure “urgently” and carry out another launch after new testing, KCNA reported. Earlier, South Korea’s military said Pyongyang fired a “space projectile,” triggering emergency alerts in Seoul and Japan, weeks after North Korean leader Kim Jong Un ordered officials to prepare to launch the country’s first military reconnaissance satellite. Wednesday’s launch triggered alarms in Japan, where alerts issued for the Okinawa prefecture were later recalled after authorities there determined there was no threat to Japanese territory. South Korea’s Joint Chiefs of Staff said the projectile was launched from Tongchang-ri, Pyongan province towards the south, and was detected flying over the west of Baengnyeong Island in the Yellow Sea.

Persons: ” KCNA, KCNA, Kim Jong Un, “ Organizations: South Korea CNN, Korean Central News Agency, Space Development Agency, South Korean, Staff, North, Korea’s, Chiefs, Japan’s Defense, Korean, South Korea’s, South Korea’s Ministry of Interior Locations: Seoul, South Korea, Pyongyang, Korea, Eocheong, Japan, Okinawa, South, Pyongan, Baengnyeong, West

☆ Japan threatens to destory any North Korean
▼ + stars: | 2023-05-29 | by ( Emiko Jozuka | ) edition.cnn.com time to read: +4 min

North Korea’s space development agency had said last year it would finish preparations for the reconnaissance satellite by April 2023. Japan’s Chief Cabinet Secretary Hirokazu Matsuno also said Monday that any North Korean missile launch disguised as a “satellite” is a “threat” to the nation’s security. Matsuno said Japan’s Defense Ministry and Self-Defense Forces have issued an order regarding the preparation of destructive measures against ballistic missiles. North Korean leader Kim Jong Un inspects preparations for North Korea's first military spy satellite on Tuesday, state news agency KCNA reported on Wednesday local time. Last month, Kim ordered officials to prepare to launch the country’s first military reconnaissance satellite, North Korean state media reported at the time.

☆ North Korea claims it’s ready to launch first spy satellite: state media
▼ + stars: | 2023-04-18 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +1 min

Seoul CNN —North Korea’s leader Kim Jong Un has ordered officials to prepare to launch the country’s first military reconnaissance satellite, North Korean state media KCNA reported on Wednesday. During his visit to the National Aerospace Development Administration on Tuesday, Kim Jong Un said the country’s military reconnaissance satellite production has been completed and ordered the dispatching of “several reconnaissance satellites,” KCNA reported. Last December, North Korea claimed it had conducted an “important final stage test” for the development of a spy satellite. The country’s space development agency announced that it would finish preparations for the first military reconnaissance satellite by April 2023. On Tuesday, Kim stressed the role of military satellites as to protect national safety and territorial stability in the midst of escalating military threats and challenges by the US and South Korea.

☆ Satellite maker Terran Orbital sees annual revenue climb near $100 million
▼ + stars: | 2023-03-21 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

Terran Orbital , a specialist in manufacturing small satellites, reported fourth-quarter results on Tuesday, with annual revenue nearing $100 million as it continued to build its order backlog. For the full year of 2022, Terran Orbital brought in $94.2 million in revenue – more than double its 2021 total. The Irvine, California-based company reported that revenue grew to $31.9 million in the fourth quarter, up from $27.8 million in the third quarter. Shares of Terran Orbital slipped about 8% Tuesday from the stock's previous close at $1.73. Terran Orbital delivered 19 satellites during the fourth quarter, including 10 under a contract through the Pentagon's Space Development Agency.

☆ Rocket Lab reports record quarterly revenue, with added contract wins
▼ + stars: | 2022-11-09 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

An Electron rocket launches from the company's New Zealand facility on Nov. 4, 2022. Rocket Lab delivered quarterly results on Wednesday that boasted record revenue, with the space company tacking on additional contract wins across its business. Rocket Lab stock is down 61% this year as of Wednesday's close of $4.74 a share. Additionally, Rocket Lab signed a research agreement with the Pentagon's United States Transport Command to "explore cargo transport use" with its rockets. Rocket Lab has begun production of the hardware for its forthcoming, larger Neutron rocket.

The company's shares were down 4.9% at $505 before the bell despite forecasting 4% to 5% revenue growth in 2023. Northrop had forecast 2022 sales in the range of $36.2 billion to $36.6 billion, and a profit per share between $24.50 and $25.10. Northrop, is now seeing improving trends in labor availability after struggling with labor challenges caused by the Omicron variant of COVID-19. Overall revenue rose 3% in the quarter to $8.97 billion, but missed analysts' average expectation of $9.13 billion, as per Refinitiv data. Sales at the Space Systems division, aided by higher demand for space exploration, rose about 18% to $3.16 billion, helping the Falls Church, Virginia-based company offset lower sales at the aeronautics and defense units.

Search resuls for: "Space Development Agency"

16 mentions found