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Search resuls for: "Rocket Companies"


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☆ Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S.
  + stars: | 2023-04-04 | by ( Sam Meredith | ) www.cnbc.com   time to read: +2 min
Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline. The California-based satellite launch company lodged the filing in the U.S. Bankruptcy Court in the District of Delaware and is looking to sell its assets. Virgin Orbit said Virgin Investments would provide $31.6 million in new money through debtor-in-possession financing to help fund the process and protect its operations. Virgin Orbit developed a system that uses a modified 747 jet to send satellites into space by dropping a rocket from under the aircraft's wing mid-flight. Virgin Orbit is among a select few U.S. rocket companies to successfully achieve orbit with a privately developed launch vehicle.
☆ Here's what went wrong with Virgin Orbit
  + stars: | 2023-03-31 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com   time to read: +9 min
The deal, facilitated by a so-called blank check company, gave Virgin Orbit a valuation of nearly $4 billion. That debt gives the flashy British billionaire first priority of Virgin Orbit assets in the event of the now-impending bankruptcy. And Chief Strategy Officer Jim Simpson had also spent more than eight years in Boeing's satellite division before joining Virgin Orbit. That frustration continued after the pause, with employees confused by the lack of specifics about which investors were speaking to Virgin Orbit leadership. Virgin Orbit
☆ Investing in Space: Don't panic
  + stars: | 2023-03-16 | by ( Michael Sheetz | ) 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. Virgin Orbit's headquarters and factory are near multiple rocket and space companies, with several growing fast nearby in "Space Beach" (an industry nickname for Long Beach, California). The fight for talent remains very competitive, which should give Virgin Orbit folks reassurance in the face of an uncertain future. Granted, the SVB situation is putting other banks under pressure and could spur caution around startup fundraising. And don't forget, multiple space companies, large and small, are backed by a lone wealthy individual with huge equity ownership.
☆ Why SpaceX's Starship mega-rocket looks unlike anything the company has ever built before
  + stars: | 2023-03-16 | by ( Rupendra Brahambhatt | Jessica Orwig | ) www.businessinsider.com   time to read: +6 min
Not only is Starship the world's largest, most powerful rocket, it also looks unlike anything SpaceX has ever built. Veronica G. Cardenas/ReutersThis silver-black color scheme is a vast change from SpaceX's white Falcon 9 rockets or NASA's orange and white Space Launch System. SpaceX's silver rocket made of steelSpaceX's Starship rocket is made of stainless steel. SpaceX's black-studded Starship spacecraftStarship is covered on one side with black tiles to help protect it upon atmospheric re-entry. SPACEXSpaceX wouldn't comment on whether, or not, that's the reasoning for their silver Starship rocket.
☆ In 2022, UWM became the top US mortgage lender and its CEO bought an NBA team. Against the odds, it expects to grow more.
  + stars: | 2023-01-23 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +5 min
United Wholesale Mortgage became the country's largest originator in 2022. Mortgage rates soared at their fastest rate in decades, halting refinances and slowing home purchases to a crawl. In a way, UWM's strategy is much more old-fashioned than other mortgage players, including Rocket Mortgage. "The idea that you can go on a computer, click a button, and there's your mortgage, that's foolish," he said. To Rocket Mortgage, that's a fundamental misunderstanding of its business.
☆ Exclusive: Rocket CEO: Housing isn't a buyer's or a seller's market. Now it's even
  + stars: | 2023-01-13 | by ( Matt Egan | ) edition.cnn.com   time to read: +4 min
Jay Farner, who presides over America’s largest mortgage lender Rocket Mortgage, says the days of sellers holding all the power are over. Buyers can take a bit more time,” Farner, the CEO of Rocket Companies, told CNN in an exclusive interview. But the Rocket CEO isn’t prepared to declare this a buyer’s market, at least not yet, because inventories remain historically low. The Rocket CEO is less optimistic about the direction of the overall economy. Asked if he’s worried about a major debt ceiling crisis, Farner pointed to history as a guide.
☆ KBW's best trades for 2023, including a short bet against Coinbase
  + stars: | 2023-01-06 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
In the meantime, KBW has shared a list of several names to trade in 2023, many of which are short bets. Perhaps the most high-profile name on the list is Coinbase – and the firm has it down as a short bet, thanks to deteriorating volumes and regulatory overhang. The firm has an underweight rating on Coinbase and a price target of $37. Its price target of $6 is 18% below its Thursday closing price. The firm's price target on Allstate is 11% above where the stock closed Thursday.
☆ First-time home buyers struggle to find options as housing inventory remains slim
  + stars: | 2022-12-21 | 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 EmailFirst-time home buyers struggle to find options as housing inventory remains slimJay Farner, CEO of Rocket Companies, joins 'The Exchange' to discuss the process of mortgage buydowns, diversifying mortgages investment portfolios with technology and housing inventory struggles.
☆ The best mortgage lenders for first-time buyers of December 2022
  + stars: | 2022-12-01 | by ( Laura Grace Tarpley | Molly Grace | Personal Finance Reviews Editor | ) www.businessinsider.com   time to read: +47 min
Pros Check mark icon A check mark. If you're a Bank of America Preferred Rewards customer, you can get discounts Check mark icon A check mark. Pros Check mark icon A check mark. Advanced tool for seeing personalized rates and payments Check mark icon A check mark. Variety of home loans, including a specialized buydown loan or I CAN loan Check mark icon A check mark.
☆ The Fed could lay the groundwork for a year end rally in the week ahead
  + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +8 min
The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.
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