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Sept 19 (Reuters) - Shares of Rocket Lab USA (RKLB.O) slumped around 26% in premarket trading on Tuesday after the space company's latest mission ended about 2-1/2 minutes following launch due to an undisclosed issue. Mission failures weigh heavily on smaller rocket companies that carry payloads for space exploration startups. Virgin Orbit, founded by billionaire Richard Branson, filed for bankruptcy in April after its rocket failed to reach orbit in January. Its Electron rocket was carrying satellites for American space tech company Capella Space, which provides radar and Earth observation technology. Rocket Lab said last week it signed a deal for four launches with defense contractor Leidos (LDOS.N), scheduled across 2024 and 2025.
Persons: Richard Branson, Leidos, Zaheer Kachwala, Devika Organizations: Lab, FAA, Federal Aviation Administration, Orbit, Capella Space, Thomson Locations: Bengaluru
Starbucks — Shares fell 2% in midday trading following a downgrade to market perform from TD Cowen. Instacart — The grocery delivery stock roared out the gates as it debuted on the public market midday Tuesday, with shares popping about 12.3% and closing at $33.70. Planet Fitness — Shares of the gym franchise slid 4.2% after JPMorgan downgraded the stock to a neutral rating from overweight. The Wall Street firm also upgraded Carnival to hold from sell, sending shares nearly 0.5% higher. Raymond James earlier upgraded Rackspace to outperform from market perform and said it likes the company management's execution.
Persons: TD Cowen, Andrew Charles, George Wang, Evercore, Chris Rondeau, Lab's, Lazard, Goldman Sachs, Raymond James, — CNBC's Brian Evans, Jesse Pound, Samantha Subin, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Starbucks, Disney, Barclays, Deere, JPMorgan, Bank of America, Truist, Technology Locations: Alhambra , California, Los Angeles, China, New Zealand
The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco, Sept. 30, 2022. Dell Technologies — Shares rose more than 1.2% after Daiwa Capital Markets upgraded the computer stock to outperform from market perform. The Wall Street firm hiked its price target to $80 per share from $50, implying roughly 16% upside from Monday's close. Super Micro Computer — The information technology stock added more than 2% after Barclays initiated coverage of Super Micro Computer on Tuesday with an overweight rating. The firm's $327 price target represents nearly 34% upside from Monday's close.
Persons: Truist, Deere, Cowen, shakeup, — CNBC's Michelle Fox, Hakyung Kim Organizations: Carnival Cruise, Royal Caribbean Group, Truist, Royal, Cruise Lines, Deere & Company, Starbucks, CVS Health, pharma, CVS, Dell Technologies, Daiwa, Markets, Barclays, Computer, JPMorgan Locations: San Francisco, Royal Caribbean, China
Rocket Lab stock fell in premarket trading after the company suffered its first launch failure in over two years early Tuesday morning. "We are deeply sorry to our partners Capella Space for the loss of the mission," Rocket Lab said in a statement. Shares of Rocket Lab fell as much as 26% in premarket trading from its previous close at $5.04. But Rocket Lab warned it will be postponed while it resolves the launch failure. After its previous launch failure, Rocket Lab launched its next Electron mission 70 days later.
Persons: Space – Organizations: Rocket, Space, Federal Aviation Administration, Capella Space, Elon, SpaceX, Lab Locations: New Zealand, Acadia, San Francisco, U.S
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. BogeymanSpaceX feels a bit like Voldemort here: Whether it's the launch or satellite communications markets, SpaceX's dominance was a hot topic. While the company hasn't made any claims yet, the insurance market ramifications are looming. Because I think the one issue that creates dysfunction in this insurance market is … do you have enough volume to make up for this loss? … They're trying to figure out what 2024 is going to hold."
Persons: CNBC's Michael Sheetz, SpaceX's Starlink, Uninsurable, hasn't, Here's, they've, … They're, , Jonathan Baliff, Henry Dubois, Adam Spice, EXIM, Judith Pryor, Pryor, there's Organizations: SpaceX, We're Locations: Paris, U.S
Russell and Tunkel pointed to falling launch costs, continued demand for satellites and India's recent moon landing as reasons to be excited about the future for the space industry. The most successful of these funds, both by total assets and performance this year, is Cathy Wood's Ark Space Exploration & Innovation ETF (ARKX) . The ARK fund takes a broad approach to finding space stocks. The Ark fund even has some stocks that are only tangentially related to space, at least for now, like Amazon and Google-parent Alphabet . For investors looking for a more narrow approach, BCA described the Procure Space ETF (UFO) as the "purest play on space exploration."
Persons: Guy Russell, Irene Tunkel, Russell, Tunkel, Cathy Wood's, Trimble, — CNBC's Michael Bloom Organizations: BCA Research, Innovation, Google, BCA, SES, Rocket Locations: Luxembourg
Cramer's Lightning Round: Alphabet is a buy
  + stars: | 2023-08-21 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon Applied Materials' year-to-date stock performance. Stock Chart Icon Stock chart icon Telus International's year-to-date stock performance. Stock Chart Icon Stock chart icon Tutor Perini's year-to-date stock performance. Stock Chart Icon Stock chart icon Nio's year-to-date stock performance. Stock Chart Icon Stock chart icon Huntington Bancshares' year-to-date stock performance.
Persons: They're, Perini, They've, I'm, I'd, Huntington Bancshares, Huntington Organizations: Telus
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Buying Rocket Lab is like sending money up in smoke, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Applied Materials, Telus International, Tutor Perini, Google, NIO, Rivian, Medical Properties and Huntington Bancshares.
Persons: Jim Cramer, Perini Organizations: Materials, Telus International, Google, Huntington
Now, several space startups see an opportunity to satisfy in-space manufacturing demand using compact space factories. One company is Varda Space Industries in Southern California. Varda Space Industries' first pharmaceutical manufacturing satellite and reentry vehicle attached to a Rocket Lab Photon bus. Years of research have shown that protein crystals grown in space are much higher quality than those grown on Earth. Across the Atlantic in Cardiff, Wales, Space Forge is working on designing its own in-space factory to manufacture next-generation semiconductors.
Persons: Ilan Rozenkopf, Joe Biden, Varda, Asparouhov, we've, Andrew Parlock Organizations: pharma, McKinsey . Space, NASA, ISS, Varda Space Industries, Pfizer, Space Locations: vacuumless, Southern California, U.S, Cardiff , Wales, Space Forge's
Canada's Telesat says MDA to build 198 satellites, shares soar
  + stars: | 2023-08-11 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationAug 11 (Reuters) - Satellite operator Telesat (TSAT.TO), has given space tech firm MDA (MDA.TO) a C$2.1 billion ($1.56 billion) contract to build 198 satellites for its low-earth orbit program. Telesat said it had earmarked $3.5 billion as capital expenditure for the Lightspeed project and that the MDA deal had helped it save $2 billion. The technology would also allow each satellite to be slightly smaller than the ones Telesat was previously considering. Telesat's Lightspeed network is designed to serve the connectivity requirements of enterprise and government users, with highly secure, resilient, low-latency broadband connectivity anywhere in the world. The company launched its first LEO 3 demonstration satellite aboard Rocket Lab's Electron rocket in July.
Persons: Dado Ruvic, Telesat, Samrhitha, Denny Thomas, Savio D'Souza, Shounak Organizations: REUTERS, MDA, Canadian, Lightspeed, Revenue, Thomson Locations: Bengaluru, Toronto
Wall Street was largely effusive about Rocket Lab's execution and growth, as analysts reacted to the space company's second-quarter results from Tuesday. Rocket Lab stock slid about 4% in early trading on Wednesday, after rising as much as 10% in premarket, from its previous close at $6.66 a share. Here's what analysts had to say about Rocket Lab's performance. Morgan Stanley — Overweight, $10 price target The firm's Kristine Liwag believes Rocket Lab stock "still has room to run" despite climbing about 70% so far this year. Roth Capital – Buy, $10 price target Analyst Suji Desilva also emphasized Rocket Lab's "steady launch execution" and expansion toward becoming an "end-to-end vendor" in the space market.
Persons: Ron Epstein, Epstein, Edison Yu, Morgan Stanley —, Kristine Liwag, Liwag, Stifel, Erik Rasmussen, Rasmussen, Roth, Suji Desilva, Jason Gursky, Gursky, Michael Bloom Organizations: Rocket, Bank of America, Deutsche, Citi Locations: premarket, U.S
Rocket Lab on Tuesday reported second-quarter results that largely met Wall Street's expectations, and the company said it added contracts for 10 more launches in 2023 and 2024. Revenue grew 12% year over year in the second quarter to $62 million, versus $61.8 million expected by analysts surveyed by Refinitiv. Rocket Lab's launch business saw $22.5 million in revenue in the second quarter, while its space systems unit brought in $39.6 million. For the third quarter, Rocket Lab expects revenue to grow to between $73 million and $77 million. Beck told CNBC that Archimedes features "new manufacturing technologies" that Rocket Lab "hasn't really disclosed in any great detail."
Persons: Peter Beck, Adam Spice, Spice, Beck Organizations: Refinitiv, Revenue, Rocket, Lab, CNBC Locations: Virginia
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
Cramer's Lightning Round: Move on from Rocket Lab
  + stars: | 2023-07-26 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Transmedics Groups year-to-date stock performance. Stock Chart Icon Stock chart icon Cheesecake Factory's year-to-date stock performance. Stock Chart Icon Stock chart icon Rocket Lab's year-to-date stock performance. Stock Chart Icon Stock chart icon Kearny Financial's year-to-date stock performance.
Persons: I've, Cheesecake, They're, it's, Merck, Wells Organizations: Tri Pointe Homes, Tri, Transmedics, Cheesecake, Copa Holdings, Nvidia, Rocket Labs, Merck, Co, Kearny Locations: Tri Pointe, Pointe, Panama
Rocket Lab's stock has been on a tear, more than doubling this year. Deutsche has a buy rating on Rocket Lab and a $10 price target that is nearly 28% above Tuesday's close of $7.83 a share. Rocket Lab's stock is up 107% year to date. Deutsche expects Rocket Lab's revenue and profitability to continue to climb, thanks to more launches by its Electron rocket. Additionally, Yu highlighted Rocket Lab's recent purchase of former Virgin Orbit assets — bought at an 80% discount in an auction.
Persons: Edison Yu, Yu, , – CNBC's Michael Bloom Organizations: Deutsche Bank, Rocket, Deutsche, Space, Electron, Apple, SpaceX, United Launch Alliance, Virgin Orbit
This idea of point-to-point rocket travel, however, could be uncomfortable and inconvenient. Space companies that are exploring the technologyWhile no one is going from Down Under to Big Ben in less than 24 hours these days, some space companies are already testing the technology needed for point-to-point rocket travel. No company has announced projected ticket prices for point-to-point rocket trips, but if other space travel is any indication they'll likely be super expensive. Currently, you can book a two-hour space flight with Virgin Galactic for $450,000. But he's not planning any future point-to-point rocket flights because it's not worth the hassle.
Persons: , David Doughty, Admiral Jet, Doughty, Big Ben, Richard Branson, Elon Musk, Jeff Bezos, Joe Cassady, there's, Thompson, Cassady, It's, he's Organizations: SpaceX, Service, Qantas, Rockets, Passengers, Virgin Galactic, Rocket, astronautics, US Air Force, NASA, Astronauts, Travelers Locations: London, Sydney, New York, Boca Chica , Texas, Mexico
Its research, company officials hope, could lead to better, more effective drugs — and hefty profits. Varda Space industriesHow it worksVarda’s vision is straightforward: The company’s capsule will launch with an experiment already on board. Varda Space IndustriesDrugs in spaceMuch of the legwork for Varda’s drug experimentation can be done on the ground. The exorbitant price tag of drug research is often passed on to consumers in the form of eye-popping prices, which frequently draws critical headlines. “You’ll see like this entire ecosystem coming up to create this fertile ground for commercialization of space,” Bruey said.
Persons: El, Varda, “ It’s, , Will Bruey, ” Varda, what’s, Merck, Keytruda, Varda’s, Covid, that’s, Gabe Ramirez, ” Bruey, Elon Musk, Peter Thiel, “ I’ve, ” Asparouhov, Asparouhov, , who’s, You’re, Nicholas Cialdella, Bruey, Jon Barr, Mark Herbert, there’s, Eric Lasker, ” Lasker, Varda isn’t, It’s, Paul Reichert, Merck hasn’t, Reichert, Herbert Organizations: El Segundo , California CNN, Citigroup, Varda Space Industries, SpaceX, Vandenberg Space Force, Big pharma, Merck, Bristol Myers Squibb, ISS, Laboratory, Space Station, Rocket, CNN, NASA, Company, Founders Fund, PayPal, Pharmaceuticals, Fortune, Space Industries, US Air Force, Utah Test, pharma, , Congressional, International Locations: El Segundo , California, California, Los Angeles, Delian, Salt Lake City,
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
The Capitalist Generation’s Space Race
  + stars: | 2023-05-10 | by ( Mark Gimein | ) www.nytimes.com   time to read: +3 min
Worden’s foes think nothing of siccing federal investigators on him and his team in an intramural death match. To put it succinctly, in Vance’s telling, NASA and its usual-suspect corporate partners were basically devoted to doing very little — or ideally, nothing — at maximum expense. So Worden’s team went in the opposite direction: The simpler and cheaper the better. Will Marshall, a physics prodigy and space expert, became the informal leader of a group of Ames recruits living in a Silicon Valley group house, known as the Rainbow Mansion. The housemates started working on the smallest satellites they could come up with — shoebox-size contraptions they would eventually call Doves.
Rocket Lab's revenue increased slightly in the first quarter, but losses grew as well, as the spacecraft and launch company added a NASA contract and continued to invest in its future Neutron vehicle. Rocket Lab said an increase in R&D spending for its Neutron rocket and Photon spacecraft drove a rise in expenses. The development of our larger rocket Neutron is continuing at pace," Rocket Lab founder and CEO Peter Beck said in a statement. It had $450 million in cash on hand at the quarter's end, down from $484.3 million the prior quarter. Shares of Rocket Lab were little changed in after-hours trading from its close at $3.94 a share.
A new book reveals Elon Musk once praised a rival New Zealand rocket CEO in a 2018 phone call. Musk said it was "impressive" that Rocket Lab launched a rocket into orbit before Blue Origin, per the book. Like SpaceX, Rocket Lab has been able to launch rockets into orbit — something Bezos' Blue Origin company has not yet achieved. In March, Rocket Lab launched its 35th Electron rocket just a week after launching its 34th Electron rocket. Neither Rocket Lab, Blue Origin, nor Musk responded to Insider's requests for comment.
CNN —A new mission designed to improve hurricane forecasting is ready to launch, just ahead of the June 1 arrival of the 2023 Atlantic hurricane season. The NASA mission includes a constellation of CubeSats called TROPICS, or Time-Resolved Observations of Precipitation structure and storm Intensity with a Constellation of Smallsats. The launch of this first mission, nicknamed “Rocket Like a Hurricane,” will stream live on NASA’s website and Rocket Lab’s website. Two additional CubeSats, nicknamed “Coming to a Storm Near You,” will launch from the same location later this month. The TROPICS satellites will launch from New Zealand.
The Alpha rocket for the Space Force's Victus Nox mission stands on the launchpad at Vandenberg Space Force Base, California. The mission for the military's Los Angeles-based Space Safari team calls for flying a Millennium Space Systems-built satellite on Firefly Aerospace's Alpha rocket — on remarkably short notice. The Alpha rocket for the Space Force's Victus Nox mission stands on the launchpad at Vandenberg Space Force Base, California. Space Force selected Firefly and Millennium for the Victus Nox contract in October, setting off a chain of events starting with the build phase. Firefly's opportunitywatch nowFirefly originally planned to fly a NASA mission on its third Alpha rocket launch, after the company reached space with its second launch in October.
While it didn't reach space, the most powerful rocket ever built marked a milestone and shined a light on a broader industry trend: building bigger rockets. Take Relativity Space, a CNBC Disruptor 50 company valued at more than $4 billion, that has emerged as the posterchild of the trend. Even Rocket Lab is busy developing a more powerful rocket than its current small launch-focused Electron. CNBC's weekly "Manifest Space" podcast focuses on the billionaires and brains behind the ever-expanding opportunities beyond our atmosphere. In "Manifest Space," sit back, relax and prepare for liftoff.
The steep drop in fresh capital has left many companies in a vulnerable state, while the failure of Silicon Valley Bank, a leading provider of venture debt, has added to the challenge, a report by venture capital (VC) firm Space Capital said on Thursday. Space Capital's report, coming on the heels of a Chapter 11 filing from Richard Branson's Virgin Orbit Holdings Inc, tracked 89 companies active in the sector. The risk threshold to invest in space companies was much higher earlier, but given recent market uncertainty, investors may not be as risk-loving and space being a nascent sector, many are dialing back, Deutsche Bank analyst Edison Yu told Reuters separately. However, Space Capital added that companies in emerging industries, like those associated with the National Aeronautics and Space Administration's Artemis mission to the Moon are seeing an increased interest. Reuters GraphicsReporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
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