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☆ Viasat revenue grows as investigation continues into malfunctioning $750 million satellite
▼ + stars: | 2023-08-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Viasat has approximately $420 million in insurance on the malfunctioning satellite, "which is nearly half of the net book value" of ViaSat-3 Americas, putting its value at about $750 million. Viasat brought in $780 million in revenue during the quarter, a 36% increase compared to the same period last year. It reported a net loss of $77 million for the quarter, wider than a net loss of $21.6 million a year ago. As of the end of quarter, Viasat had $5.5 billion in net debt, with about $2 billion in cash and equivalents. Despite the issues, Viasat forecast that revenue will grow further in fiscal year 2025.

Persons: Mark Dankberg, K, Guru Gowrappan, Dankberg, Northrop Organizations: Viasat, ViaSat, Northrop Grumman, Inmarsat Locations: Americas, Africa

☆ Many Americans think NASA returning to the moon is a waste of time and it should prioritize asteroid hunting instead, a poll shows
▼ + stars: | 2023-08-04 | by ( Mariel Borowitz | Teasel Muir-Harmony | The Conversation | ) www.businessinsider.com time to read: +10 min

A new report from the Pew Research Center shows most Americans support NASA but not a moon mission. But the specific priorities of the US space program have often been at odds with public opinion. Although somewhat at odds with the national space agenda, this valuation is not new. In addition, the United Nations' open-ended working group on reducing space threats has been meeting since 2022 to help avoid conflict in space. Countries have been working within the United Nations to develop and implement guidelines for the long-term sustainability of outer space activities.

Persons: LOREN ELLIOTT, Johns Hopkins, Jon Emmerich, Elon Musk, Ryan Saunders, Codie Trimble Organizations: Pew Research Center, NASA, Service, Getty Images, Artemis, Pew, SpaceX, AP, Virgin Galactic, . Air Force, 625th Strategic Communications Squadron, Vandenberg Space Force Base, Intercontinental Ballistic Missile, US Air Force, Staff, ViaSat, United Nations, Space Agency Space Locations: Wall, Silicon, United States, AFP, States, Europe, Japan, Canada, China, Russia, Ukraine War, Ukrainian, Ukraine, United

Elon Musk’s Unmatched Power in the Stars The tech billionaire has become the dominant power in satellite internet technology. Today, more than 4,500 Starlink satellites are in the skies, accounting for more than 50 percent of all active satellites. 53% of active satellites are Starlink.” The Starlink satellites are highlighted and are all operating in low-Earth orbit. How Starlink customers connect to the internet Starlink satellites orbit at much lower altitudes than traditional satellite internet services. “Everywhere on earth will have high bandwidth, low latency internet,” Mr. Musk predicted on the Joe Rogan podcast in 2020.

Persons: Elon Musk’s, Mark, Valeriy Zaluzhnyi, Elon Musk, Zaluzhnyi, General Zaluzhnyi, Musk, Musk’s, ”, Starlink’s, ” Mykhailo Fedorov, Mr, Biden, ” Dmitri Alperovitch, Sir Martin Sweeting, Sweeting, Mike Blake, Patrick Seitzer, Rafael Schmall, Joe Rogan, Jeff Bezos, Starlink, Russia —, Fedorov, —, Clodagh Kilcoyne, Nancy Pelosi, Colin H, Kahl, Lynsey Addario, messaged Mr, Lloyd Austin, Gregory C, Allen, we’ve, Mykhailo Podolyak, Volodymyr Zelensky, Jason Hsu, Hsu, “ Elon, Michael McCaul of, Tsai Ing, Tsai, Audrey Tang, Mariana Suarez, Thierry Breton, SpaceX, Chérif El, Amazon Organizations: Joint Chiefs of Staff, Ukraine’s Armed Forces, SpaceX, Tesla, Twitter, Mr, U.S . Defense Department, NASA, Senior Pentagon, The Defense Department, Starlink, European Union, Silverado, Accelerator, Surrey Satellite Technology, Reuters, Airbus, Earth, Getty, Satellite, University of Michigan, National Science Foundation, Rivals, Amazon, Origin, Viasat, Pentagon, CNN, The New York Times, U.S, Defense Department, Center for Strategic, International Studies, Elon, Harvard Kennedy School, Republican, House Foreign Affairs, OneWeb, Agence France, European, United Nations Locations: Ukraine, United States, Iran, Turkey, Japan, Starlink, Crimea, Russian, Starlinks, Europe, Taiwan, China, Beijing, British, Colorado, Cape Canaveral, Fla, —, California, Florida, Latin America, Africa, Nigeria, Mozambique, Rwanda, Ukrainian, Russia, Kreminna, Aspen, Colo, Kherson's, Kherson, Dnipro, Shanghai, Taipei, Michael McCaul of Texas, del, Uruguay, European Union

☆ Stocks making the biggest moves premarket: Delta Air Lines, PepsiCo, MillerKnoll and more
▼ + stars: | 2023-07-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Delta posted adjusted earnings per share of $2.68 cents, more than the $2.40 expected by analysts polled by Refinitiv. It gained adjusted revenue of $14.61 billion, greater than the $14.49 billion consensus estimate. MillerKnoll posted adjusted earnings of 41 cents per share on revenues of $957 million. PepsiCo — The beverage stock rose 2% after PepsiCo on Thursday beat earnings and revenue expectation in its recent results, and raised its full-year outlook. The firm reported adjusted earnings of $2.09 per share, more than the $1.96 per share consensus estimate from Refinitiv.

Persons: MillerKnoll, Noguchi, Eames, Refinitiv, Bob Iger's, Iger, Carvana, Bard chatbot, Morgan Stanley, SoFi, — CNBC's Michelle Fox, Jesse Pound Organizations: Delta Airlines, JFK International, Delta Air Lines, Air Lines, Refinitiv, PepsiCo, Walt Disney Company, Disney, CNBC, ViaSat, JPMorgan, European Union, Financial, Microsoft, Cirrus Logic, Barclays Locations: New York City, Americas, Brazil

The satellite, which was launched onboard SpaceX's Falcon Heavy rocket on April 30, is a key part of Viasat's plan to expand its broadband business in the Americas. The stock was on course for its biggest one-day percentage decline on record, surpassing a 27.7% drop in April 2001, per Refinitiv data. The company said it is working to minimize the economic impact of the faulty satellite by redeploying other satellites from its fleet. Viasat in May completed its $7.3 billion acquisition of British satellite rival Inmarsat after securing approval from European Union regulators. Viasat owns and operates four geostationary earth orbit satellites while Inmarsat has 15.

Persons: Inmarsat, Chibuike Oguh, Will Dunham Organizations: YORK, Viasat, U.S, ViaSat, European Union, Thomson Locations: Americas, California, British, New York

☆ Viasat shares plunge toward worst day ever after new satellite malfunctions
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailViasat shares plunge toward worst day ever after new satellite malfunctionsCNBC’s Michael Sheetz joins 'Power Lunch' to discuss Viasat after the company's stock plunges toward worst day ever after new satellite malfunctions.

Persons: Michael Sheetz Organizations: Viasat

☆ Stocks making the biggest moves midday: Nvidia, Carvana, Disney, Amazon and more
▼ + stars: | 2023-07-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading. Alphabet — The Google-parent company added 4.4% after launching its large-language model, Bard AI, in Brazil and the European Union. Cirrus Logic — The chipmaker fell more than 3% in midday trading after Cirrus announced in an 8K filing plans to slash 5% of its workforce. Nvidia invested $50 million into Recursion to help drive AI-based drug discovery, the company said Wednesday. Progressive — Shares of the insurance company fell about 11% after Progressive reported results for June and the full second quarter.

Persons: Bard, Bob Iger's, Carvana, SoFi, Morgan Stanley, Tobi Lutki, —, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Alex Harring Organizations: Google, European Union, Cirrus, Nvidia, Disney —, Bank of America, Disney, JPMorgan, Viasat – Viasat, Viasat, Amazon, Progressive Locations: Brazil, Americas

☆ ViaSat-3 Americas satellite faces deployment issue
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Viasat (VSAT.O) said on Wednesday there was an anomaly during the deployment of its ViaSat-3 Americas satellite in space which may affect the performance of the satellite, sending the company's shares down 20% after the bell. An unexpected event occurred during reflector deployment, the company said, adding that it had started a review. The ViaSat-3 Americas, designed to provide broadband connectivity in the Americas region, was launched onboard SpaceX's Falcon Heavy rocket on April 30. Other Viasat and Inmarsat satellites were not affected, according to Viasat. The company said it will share additional information on the status of the ViaSat-3 Americas satellite and contingency plans during its earnings call on Aug. 9.

Persons: Yuvraj Malik Organizations: Viasat, ViaSat, May, British, Thomson Locations: Americas, Bengaluru

☆ Viasat stock plunges after company discloses malfunction in new satellite
▼ + stars: | 2023-07-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

A long-exposure photo shows a trail left by SpaceX's Falcon Heavy rocket while launching the ViaSat-3 Americas satellite from Florida on April 30, 2023. Viasat 's stock dropped in after-hours trading on Wednesday after the company disclosed its most recently launched communications satellite suffered a malfunction. The Carlsbad, California-based company said an "unexpected event occurred" while deploying the reflector of its Viasat-3 Americas satellite "that may materially impact" performance. The design of the reflector on the Viasat-3 Americas satellite appear to match the "AstroMesh" line of reflectors that Northrop Grumman advertises. Viasat has previously thanked both Boeing and Northrop Grumman as part of its combined team behind the Viasat-3 Americas satellite.

Persons: We're, Mark Dankberg, Dankberg, Northrop Grumman, NASA's James Webb Organizations: ViaSat, Viasat, CNBC, Boeing, Grumman, NASA's James Webb Space Telescope, Northrop Locations: Florida, Carlsbad , California, Americas

☆ Astranis to bring satellite internet to 2 million people in the Philippines next year
▼ + stars: | 2023-07-11 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

The satellite that will provide service to the Philippines is scheduled to launch in 2024. Astranis will own and operate the satellite, with services provider Orbits Corp. buying capacity through a long-term contract for a local Philippine internet service provider, HTechCorp. Its currently preparing to launch two more batches of satellites – which Astranis calls "Block 2" and "Block 3." But the company's approach marks a unique way of providing broadband service from space, Gedmark has previously said. Astranis will be able to "cover the entire Philippines with this one satellite," Gedmark noted.

Persons: John Gedmark, Gedmark, Astranis, SpaceX's Starlink Organizations: CNBC, Corp, Viasat, GEO Locations: San Francisco, Philippines, Alaska, Peru, Philippine, British

☆ An inside look at how Delta is upgrading its fleet to bring better Wi-Fi to customers
▼ + stars: | 2023-07-06 | by ( Erin Black | ) www.cnbc.com time to read: 1 min

Airplane Wi-Fi has been around for decades, but its reliability and speeds can vary widely depending on the airline, the route and the type and age of the aircraft. American Airlines , United and other U.S. airlines have recently been updating their fleets to provide better Wi-Fi, and Delta has spent more than $1 billion upgrading its planes to offer free Wi-Fi to customers. The airline uses Viasat , one of the leading providers of satellite internet, to deliver Wi-Fi on board. Viasat recently launched a new satellite with faster speeds and more capacity, which the company says should help keep up with the growing demand for the airline industry. CNBC got an inside look at how Delta is working to upgrade over 1,200 planes by 2024.

Organizations: American Airlines, United, Viasat, CNBC Locations: Delta

☆ Lightning Round: Too much competition in the Fintech space for PayPal, says Jim Cramer
▼ + stars: | 2023-06-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Too much competition in the Fintech space for PayPal, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Hubbell, PayPal, Viasat, Biohaven, Transocean, Johnson & Johnson, Advance Auto Parts and C3.ai.

Persons: Jim Cramer, Hubbell, Johnson Organizations: PayPal, Viasat, Johnson, Advance Locations: Transocean

☆ Cramer's Lightning Round: PayPal is "too cut-throat"
▼ + stars: | 2023-06-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Hubbell's year-to-date stock performance. Stock Chart Icon Stock chart icon PayPal's year-to-date stock performance. Stock Chart Icon Stock chart icon Viasat's year-to-date stock performance. Stock Chart Icon Stock chart icon Biohaven's year-to-date stock performance. Stock Chart Icon Stock chart icon C3.AI's year-to-date stock performance.

Persons: Hubbell, it's, Vlad Coric, Johnson, Tom Siebel, he's, Jim Cramer's Organizations: PayPal, Viasat, Honeywell, CNBC, J, Charitable Trust, Parts Locations: California, That's

☆ Investing in Space: Here are the rockets chasing to compete with SpaceX's Falcon 9
▼ + stars: | 2023-06-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +14 min

SpaceXCNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Overview: Chasing the FalconNo rocket has been better-described as a "workhorse" than SpaceX's Falcon 9. Aside from Blue Origin's New Glenn, the early theme is rockets that are close to the capability of Falcon 9 and less expensive. – CNBC, which the lawsuit says were used for NASA projects including the International Space Station and the Space Launch Systems rocket. – Firefly Aerospace: The rocket builder says the deal will bolster its launch, spacecraft, and lunar lander businesses.

Persons: CNBC's Michael Sheetz, Phil Smith, SpaceX's, Glenn, Smith, –, Smith doesn't, CNBC ULA, Tory Bruno, Jeff Bezos, ULA, – Read, Shepard, Bob Smith, Jim Free, Artemis, HawkEye, – Hydrosat, Leonardo DiCaprio, – Momentus, Westinghouse EchoStar's Hughes, – EchoStar, Iris Lan, Sumara Thompson, King, Lan, – NASA Celeste Ford, Ford, – SpiderOak Melissa Quinn, Quinn Organizations: SpaceX CNBC's, SpaceX, Falcon, Boeing, NASA, CNBC, CNBC Department of Defense, Ukraine, Starlink, Pentagon, –, Space Station, Systems, CNBC SpaceX, Cargo, International Space, FAA, Intelsat, Japan Airlines, Embraer, – Intelsat, Rocket, ONE, Washington, Spaceflight, Aerospace, Aerospace Spacecraft, York, MaC Venture Capital, Broom Ventures, Veto, TechCrunch Viasat, Air Force, Viasat, Westinghouse, U.S . Department of Justice, – NASA, Ford, Stellar Solutions Locations: Florida, China, Russia, Colorado, Ukrainian, Bellevue , Washington, Cortado, Cornwall

☆ Astranis says its first internet satellite is working 'perfectly' as company prepares to bring coverage to Alaska
▼ + stars: | 2023-05-24 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

The Arcturus satellite is seen en route to geosynchronous orbit. AstranisAstranis, a San Francisco-based company with an alternative approach to providing internet access from satellites, has its first spacecraft in orbit, and the company on Wednesday said it's working "perfectly." Astranis has already completed tests with the satellite, including connecting to user equipment in its service target of Alaska for the first time. "This test validates everything that we've been working on and working towards and it's a huge, huge deal," Gedmark said. The Arcturus satellite is seen deploying its solar arrays in the background from onboard the upper stage of SpaceX's Falcon Heavy rocket.

☆ Investing in Space: Is SpaceX's Starlink growing satellite internet market share, or taking it?
▼ + stars: | 2023-05-18 | 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. Just over two and a half years after SpaceX's Starlink first rolled out its beta service, the satellite internet company now has more than 1.5 million subscribers. Starlink "introduced a service that leapfrogs the capability, although not quite the cost," of existing satellite and terrestrial competitors. Brazil, he noted, is the most dramatic example of Starlink taking share from incumbent satellite providers, where Starlink has added nearly the same amount of customers that Hughes has lost. With Starlink going after nearly every market vertical – from consumers to governments and everything in between – Prokosh noted customers are often just adding Starlink to existing options.

☆ Investing in Space: Viasat launch adds power and flexibility in satellite broadband competition
▼ + stars: | 2023-05-04 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC's Michael Sheetz reports and curates the latest news, investor updates and exclusive interviews on the most important companies reaching new heights. Viasat took a big step toward satellite staying power last weekend, as the long-awaited launch of the first of the ViaSat-3 trio rumbled off the ground (thanks to the "full power" version of SpaceX's Falcon Heavy rocket.) The new satellites also give Viasat "a lot of flexibility" in where it aims the bandwidth, Dankberg said. Dankberg sees Viasat-3 as "more successful in business aviation," particularly by adding coverage over the Pacific.

☆ Space Force chief says U.S. is facing a 'new era' of threats beyond Earth
▼ + stars: | 2023-04-20 | by ( Morgan Brennan | ) www.cnbc.com time to read: +4 min

Chance Saltzman took the stage for his keynote at the Space Symposium in Colorado Springs, Colorado, this week, his message was simple: The U.S. is in a new era of space activity. "The threats that we face to our on-orbit capabilities from our strategic competitors has grown substantially," Saltzman, the U.S. Space Force's second-ever chief of space operations, said in a CNBC interview after the speech. Case in point: the Space Force's recently announced procurement strategy for more launch services. With business to be awarded next year, the National Security Space Launch Phase 3 is estimated to run into the billions of dollars and is expected to draw bids from the likes of Rocket Lab , Relativity Space and Jeff Bezos' Blue Origin, among others. While still just a fraction of the country's overall defense budget, the Space Force's $30 billion request for fiscal 2024 represents a 15% increase from this year's enacted levels.

☆ Inmarsat CEO: Viasat deal approval expected 'soon'
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInmarsat CEO: Viasat deal approval expected 'soon'Rajeev Suri, chief executive of British satellite telecommunications company Inmarsat, says he expects its merger with U.S. internet company Viasat to receive unconditional approval "soon." He adds that the industry is set for further consolidation in the years ahead.

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Roku, Peloton, Plug Power, Target & more
▼ + stars: | 2023-01-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Piper Sandler initiates coverage of Albemarle as overweight Piper said in its initiation of the lithium company that it sees "sharp" earnings increases. Jefferies reiterates Alphabet as buy Jefferies said Alphabet's multiple is near a "15-year trough," which makes for an attractive risk/reward. Goldman Sachs reiterates Tesla as buy Goldman said it likes Tesla's "strong orders at lower prices" after the company's earnings report on Wednesday. Bank of America reiterates Peloton as buy Bank of America said it's bullish on Peloton heading into earnings next week. Needham reiterates Roku as buy Needham said it's bullish on Roku's decision to build its own TV.

☆ Stocks making the biggest moves midday: Chevron, Tesla, Seagate Technology, United Rentals and more
▼ + stars: | 2023-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Analysts called for earnings of 10 cents per share on $1.83 billion in revenue, according to Refinitiv. Though United Rentals missed analysts' expectations for per-share earnings, it was in-line with Wall Street's forecasts for revenue, per FactSet. The company forecasted 2023 revenue to range between $13.7 billion and $14.2 billion, surpassing analysts' estimates, according to FactSet. Sherwin-Williams earned an adjusted $1.89 per share last quarter, topping estimates by 2 cents, according to Refinitiv. Tractor Supply's EPS came in at $2.43 versus analysts' estimate of $2.35 per share, according to Refinitiv.

☆ EU regulators to rule on Viasat's Inmarsat takeover by Feb. 13
▼ + stars: | 2023-01-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Jan 9 (Reuters) - EU antitrust regulators will decide by Feb. 13 whether to clear U.S. company Viasat's (VSAT.O) $7.3 billion takeover of satellite rival Inmarsat, a European Commission filing showed on Monday. The EU antitrust enforcer can either clear the deal with or without remedies or it can open a full-scale investigation if it has serious concerns about the tie-up. The companies compete with market leaders Panasonic (6752.T) and Intelsat in the market for in-flight Wi-Fi on long-haul flights. Viasat offers connectivity services to residential, aviation and defence customers in North America while Inmarsat's clients include the shipping and aviation sectors as well as government departments. Reporting by Foo Yun Chee Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Delta will start offering free Wi-Fi on its planes this year
▼ + stars: | 2023-01-05 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Delta Air Lines will be the first US global carrier to offer free Wi-Fi on most domestic mainline flights. JetBlue Airways, which is considered a low-cost airline, already offers free Wi-Fi on all of its planes. As of now, only Delta-operated aircraft will offer free Wi-Fi — this does not apply to its codeshare or regional partners. The new offering is in partnership with T-Mobile, which already offers free internet onboard many Delta flights to users of its cellular network. Delta, which has been regularly praised for its on-time performance, safety record, and cabin products, is bringing more than just free Wi-Fi to its planes this year.

☆ Delta plans to offer free Wi-Fi starting Feb. 1
▼ + stars: | 2023-01-05 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines will offer travelers free Wi-Fi starting Feb. 1, after years of studying the possibility. Travelers will access the free internet service by logging in with their Delta SkyMiles frequent flyer account information, Bastian added. It's free on JetBlue , which has some corporate sponsorships for the service, and Hawaiian Airlines is planning to offer free internet with SpaceX's Starlink this year. American Airlines ' Wi-Fi service starts at $10 and varies depending on the route, though last April, the carrier and its provider Viasat, started trialing free Wi-Fi for some customers. Airline executives have been hesitant to offer free Wi-Fi service until it is more reliable.

Dec 17 (Reuters) - L3Harris Technologies Inc (LHX.N) is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), 10 months after the latter's $4.4 billion sale to Lockheed Martin Corp (LMT.N) fell through, people familiar with the matter said on Saturday. L3Harris is a defense contractor that is mostly a competitor rather than a customer of Aerojet. Aerojet's solid fuel rocket motors and other propulsion systems would help L3Harris expand its space defense systems and precision munitions businesses. Spokespeople for Aerojet, L3Harris and General Electric did not immediately respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

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