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Anduril has just been selected as one of two vendors for a major US air force contract. AdvertisementAnduril Industries, the defense tech startup run by Palmer Luckey, has just been awarded a major contract by the US Air Force, beating out legacy names like Boeing and Lockheed Martin. The Air Force hopes to eventually buy at least 1,000 CAA systems at a cost of $30 million per drone. "I'm confident we're going to deliver on budget and on schedule some really sick AI-powered fighter jets," he added. And the demand is there for them if they can make it: venture capitalists have put more than $100 billion into defense tech since 2021, according to PitchBook data.
Persons: Anduril, Northrup Grumman, Palmer Luckey, , Lockheed Martin, Atomics, General Atomics Organizations: Boeing, Lockheed, Service, Anduril Industries, US Air Force, Aircraft, Air, Air Force, CAA, Combat Aircraft, CNBC Locations: Anduril, United States of America, , China, Silicon Valley
Stocks continued their bull market tear on Thursday, with the S&P 500 closing at a new record high of 5,029. But don’t expect the run to continue, says Lukasz Tomicki, founder of LRT Capital Management, a hedge fund managing $120 million in assets. “I think the market is pricing in perfection,” Tomicki told Business Insider. Another reason he’s bearish on the economy’s prospects is because the money supply is declining, meaning liquidity in the economy is shrinking. The cheaper end of the hotel industry is typically less volatile in an economic downturn, Tomicki said.
Persons: Stocks, Lukasz Tomicki, ” Tomicki, Tomicki, , , Northrup Grumman Organizations: Capital Management, Business, Federal, Fed, Wyndham Hotels & Resorts, Marriott, Hilton
That company’s already turbulent reputation suffered another jolt this month when a door plug — a fake door that replaces a real one in some airline configurations — on an Alaska Airlines Boeing 737 Max 9 blew out at about 16,000 feet. Investigations have commenced into the 737 Max 9, a fairly new jet freighted with Boeing’s penchant for producing flawed aircraft. With flights already full, the system can ill afford the grounding of 171 737 Max 9s. Aerospace was the West Coast’s original geek technology: Hughes Aircraft, Douglas Aircraft, Northrup, North American, Lockheed and others in California, and in Seattle, Boeing. Hughes, Douglas and North American would disappear in acquisitions and mergers.
Persons: Max, Hughes Organizations: Xerox, . Steel, Boeing, Alaska Airlines Boeing, Max, Investigations, Aerospace, Hughes Aircraft, Douglas Aircraft, Lockheed, North Locations: North American, California, Seattle, Vietnam, Douglas
Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.
Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado
Northrup is a subsidiary of Syngenta Seeds, which is owned by China National Chemical Company, or ChemChina, a Chinese state-owned company. Concern has been growing in many states about foreign ownership of farmland. Prior to this year, 14 states had laws prohibiting or restricting foreign ownership and investments in private farmland. Under the Arkansas law, if a company doesn’t divest of the land, the state can take action in court. The surge in state laws targeting land ownership by certain foreigners represents a “a political flashpoint” that Brown says stems from some highly publicized cases of Chinese-connected entities purchasing land near military bases in North Dakota and Texas.
Persons: Tim Griffin, Northrup King, Sarah Huckabee Sanders, Northrup, ” Sanders, Griffin, Syngenta, Micah Brown, , Brown, David Lieb Organizations: , Northrup King Seed, Republican, GOP Gov, Syngenta, China National Chemical Company, National Agriculture Law Center, University of Arkansas, U.S . Department of Agriculture, Associated Locations: — Arkansas, Craighead County, Arkansas, China, Iran, North Korea, Russia, North Dakota, Texas, Jefferson City , Missouri
CHICAGO, Oct 17 (Reuters) - Arkansas ordered Syngenta to sell 160 acres (65 hectares) of farmland in the U.S. state within two years on Tuesday because the company is Chinese-owned, drawing a sharp rebuke from the global seeds producer. U.S. farm groups and lawmakers are increasingly scrutinizing foreign land ownership due to concerns about national security. "Our people in Arkansas are Americans led by Americans who care deeply about serving Arkansas farmers," Das said. The state also fined Syngenta $280,000 for failure to report foreign ownership in a timely manner. "All Syngenta land holdings have been examined by the U.S. government, through two administrations, as Syngenta was transitioning to ChemChina ownership," Das said.
Persons: Syngenta, Sarah Huckabee Sanders, Saswato Das, Das, Tim Griffin, Griffin, Northrup, Huckabee Sanders, Tom Polansek, Jonathan Oatis Organizations: BASF, Bayer, Sinochem Holdings Corp, Northrup King Seed, Syngenta, U.S . Department of Agriculture, U.S ., Thomson Locations: Arkansas, U.S, Craighead County, China, ChemChina, Shanghai
He said he's liked management's capital allocation as it's continued to grow through acquisitions, and that the firm has fundamental tailwinds. Leverage and risk managementLike hedge funds do, Tomicki relies on leverage, or borrowed money that he then invests, to amplify his returns. He said for every $1 of investor capital he receives, he's long by $3 per stock, meaning returns are multiplied by three. To further lessen his overall portfolio risk, Tomicki said he runs the 200-plus stocks that satisfy his three selection criteria through a quantitative model. However, Goldman Sachs strategists recently said the seven stocks look cheap and could continue to surge.
Persons: that's, Lukasz, Northrop, Tomicki, RLI, there's, Northrop Grumman, Northrup, they've, he's, Russell, outperformance, Goldman Sachs Organizations: Apple, Microsoft, Nvidia —, Northrop Grumman, EMCOR, Air Force, Intercontinental, Missiles Locations: Williams, Sonoma, America
How companies are embracing generative AI...or not
  + stars: | 2023-09-22 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +9 min
New York CNN —Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. Some companies are enacting internal bans on generative AI tools as they work to better understand the technology, and others have already begun to introduce the trendy tech to employees in their own ways. Among media companies that produce news, Insider editor-in-chief Nicholas Carlson has encouraged reporters to find ways to use AI in the newsroom. Of the companies currently banning ChatGPT, some are discussing future usage once security concerns are addressed. “I don’t think it’s that companies are against AI and against machine learning, per se.
Persons: JPMorgan Chase, Northrup, it’s, Mark McCreary, Fox Rothschild, McCreary, , ” Jonathan Gillham, Nicholas Carlson, , ChatGPT, Larry Feinsmith, ” Northrop Grumman, “ They’re, they’re, ” Vern Glaser, Cheryl Ainoa, Donna Morris, PwC, “ Lilli ”, Lilli, Jacky Wright, EY.ai, OpenAI, ” Glaser Organizations: New, New York CNN — Companies, JPMorgan, Northrup Grumman, Apple, Verizon, Spotify, Accenture, Fox, Fox Rothschild LLP, CNN, “ Companies, Gannett, The Columbus Dispatch, UBS, JPMorgan Chase, Wall Street Journal, Entrepreneurship, Enterprise, University of Alberta, Walmart, Emerging Technologies, Consulting, McKinsey, PwC, ChatGPT, Fortune, ChatGPT Enterprise, Microsoft, Bing Locations: New York, ChatGPT, America
Serviceman patrols in front of the Patriot air defence system during Polish military training on the missile systems at the airport in Warsaw, Poland February 7, 2023. REUTERS/Kacper Pempel/File Photo Acquire Licensing RightsWASHINGTON, Sept 11 (Reuters) - The U.S. State Department has approved the potential sale of an Integrated Air and Missile Defense Battle Command System to Poland for an estimated cost of $4 billion, the Pentagon said on Monday. As it upgrades its air defenses, the Pentagon said NATO-ally Poland had requested to buy phase two of a two-phase program for the command system enabled PATRIOT Configuration-3+ with modernized sensors and components. The sale would include 93 of the system's engagement operation centers, 175 fire control network relays and other related equipment, the Pentagon said. The principal contractor for the missile defense system will be Northrup Grumman (NOC.N), the Pentagon said in a statement.
Persons: Kacper, Northrup, Eric Beech, Katharine Jackson, Caitlin Webber Organizations: Patriot, REUTERS, Rights, U.S . State Department, Integrated Air, Missile Defense, Pentagon, Northrup Grumman, Thomson Locations: Warsaw, Poland, NATO
[1/3] NASA's next-generation moon rocket, the Space Launch System (SLS) rocket with its Orion crew capsule perched on top, is shown on its launch pad as it is prepared for launch in Cape Canaveral, Florida, U.S. November 12, 2022. NASA's SLS vision has its skeptics. NASA currently manages SLS production, with Boeing and Northrop its top contractors, each having contracts under which the space agency bears any delay costs. Boeing and Northrop executives have declined to discuss plans for cutting SLS costs under the proposed commercial contract. Boeing has said the SLS program has created 28,000 jobs.
Persons: Joe Skipper, Colonel Douglas Pentecost, Glenn, Jeff Bezos's, Cristina, Jim Free, Artemis, Amit Kshatriya, Kshatriya, Joey Roulette, Will Dunham, Ben Klayman Organizations: Orion, REUTERS, WASHINGTON, Boeing, Northrop Grumman, Pentagon, Northrup, U.S . Department of Defense, DoD, U.S, military's Space Force, NASA, SLS, Elon Musk's SpaceX, Office, U.S . Congress, Northrop, Artemis, Space, Reuters, Thomson Locations: Cape Canaveral , Florida, U.S, Florida
(The recently unveiled B-21 bomber is billed as the world's first sixth-gen aircraft, but little is known about its capabilities.) Lockheed Martin, Northrup Grumman, and Boeing are believed to be competing to build the jets, and all have released illustrations of sixth-gen aircraft. FCAS/SCAFA full-scale model of the Future Combat Air System at the Paris Air Show in June 2019. An illustration of Japan's next-generation fighter aircraft concept. While China is making heavy investment in military aviation, Russia's ability to develop next-generation jets may be shrinking.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to trade Caterpillar, Northrup Grumman and McDonald's post-earningsThe traders on how to trade CAT, NOC and MCD after earnings. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.
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