
California Coastal Commission staff recommends rejecting increased SpaceX launches
What happened: California Coastal Commission staff issued a recommendation Friday that the agency's 12 appointed commissioners vote next week to reject the U.S. Space Force's application to increase SpaceX launches from Vandenberg Space Force base from 50 to 95 annually on the grounds that some of the launches don't carry military equipment and shouldn't receive state permitting exemptions.
Agency staff said the Space Force failed to provide information showing that all of the launches should be considered military activity, exempting them from commission oversight, even though most won't carry military payloads.
Advertisement
Why it matters: It's the third time SpaceX's rocket launches have come before the Coastal Commission, which has jurisdiction over development on California's vaunted 840-mile coastline, including Vandenberg Space Force Base. The agency does not have authority over military activity, however, meaning its votes are nonbinding.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
12 minutes ago
- Yahoo
Realty Income raises AFFO forecast on steady property demand
(Reuters) -Realty Income raised the lower end of its annual adjusted funds from operations (FFO) forecast on Wednesday, as the company expects improving demand for its properties despite an uncertain macroeconomic backdrop. The real estate investment trust now expects adjusted FFO for 2025 in the range of $4.24 to $4.28 per share, up from its prior forecast of $4.22 to $4.28 per share. "As demand for durable income solutions accelerates amidst a growing retiree demographic, and as corporations increasingly seek to unlock capital from real estate, we believe our model is well-positioned to thrive," CEO Sumit Roy said. Realty Income, which recently completed a $9.3 billion merger with Spirit Realty Capital, handles a porfolio of more than 15,600 commercial properties and leases them to over 1,500 clients across the retail, restaurant and gaming industries. The company stands to benefit from rising rental revenues as demand for its properties increases amid growing competition among retailers. It counts Walgreens and Dollar General among its clients. The company's same-store rental revenues in the second quarter increased to $1.17 billion, compared with $1.15 billion in the same period a year ago. Total revenue for the quarter ended June 30 was $1.41 billion, exceeding analysts' average estimate of $1.34 billion, according to data compiled by LSEG. The San Diego, California-based company reported adjusted FFO of $1.05 per share for the second quarter, compared to expectations of $1.07 per share. Shares of Realty Income were marginally higher in extended trading. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


New York Times
14 minutes ago
- New York Times
Son Heung-min says LAFC 'changed my heart' after MLS unveiling
Son Heung-min admitted that LAFC was initially 'not my first choice' as he sought a new club earlier this year, but said Wednesday that LAFC general manager John Thorrington 'changed my mind' on their very first phone call after Son's 10th and final season with Tottenham concluded this spring. 'He changed my heart, he changed my brain,' Son said at an introductory news conference in Los Angeles. 'He showed me the destination where I should be.' Advertisement And, after saying he was 'more than happy' to be here, Son promised: 'I'm here to win … I will perform, and I will definitely show you something exciting. And we definitely will have success.' Son arrived in Southern California on Tuesday to finalize a deal that now stands as the most expensive inbound transfer in MLS history. He took in LAFC's Leagues Cup game against Tigres, a 2-1 win on Tuesday night, from a BMO Stadium suite. He received a warm and raucous reception from supporters when he was shown on stadium video boards and welcomed as an 'LAFC forward.' He reciprocated with applause, and said a day later: 'I just wanted to run onto the pitch and show my performance.' Wednesday, though, was his official unveiling. A couple hours after Tottenham and LAFC both announced the deal, his likeness beamed off LAFC HQ outside the stadium, alongside a welcome message in three languages: Korean, English and Spanish. Inside the stadium's Field Club, he was welcomed to a stage by chanting supporters, The 3252. He sat alongside Thorrington and LAFC managing owner Bennett Rosenthal, in front of media and various 'special guests,' including Los Angeles mayor Karen Bass, who called the signing 'a moment that will be remembered in the city for generations to come' and 'officially' declared Son 'an Angeleno.' More than 20 minutes into the event, when Son finally got a chance to speak, he called the occasion a 'dream come true.' 'LA,' he said, 'what a city.' One of the attractions was the estimated 320,000 Koreans who live in greater Los Angeles. Son said he was 'so, so excited seeing all the Korean fans outside.' There were also many thousands watching from afar, including on YouTube, where Korean comments peppered the online chat seemingly every second. Many of the introductions and remarks onstage were translated into Korean by an interpreter. Advertisement When asked why he signed with LAFC — on a deal through 2027, with options for 2028 and the first half of 2029, according to the club — Son said through the interpreter that there were 'many reasons,' and the strength of the local Korean community was one of them. 'As a Korean, to know that Koreatown here in Los Angeles has so many Koreans, here in this country, I'm very proud to be a part of the club and the city,' he said through the interpreter. 'And I'll make them proud with my performance.' Son had previously announced his departure from Tottenham. At a news conference last weekend in Korea, ahead of Tottenham's preseason game in Seoul, he called it 'the most difficult decision I have made in my career.' The 'main reason' for it, he explained, 'is that I have achieved everything I can at Tottenham. I need a new environment for a fresh challenge.' At the time, he did not say where he'd find that fresh challenge. Wednesday was his first chance to explain why he picked LAFC (over interest from Saudi Arabia, and perhaps elsewhere). He said that Hugo Lloris, his former teammate and captain for nine seasons at Tottenham, helped recruit him. 'Hugo was helping and advising about how great Los Angeles is,' Son said. But he clarified that he is not just here to enjoy the city. 'Obviously I'm here to perform,' Son said. 'But also I want to give some advice to the young players for improvement.' He is 33 years old, and struggled over the latter half of the 2024-25 season. 'I think we can say I'm old,' he said with a hint of a smile. 'But I still have good physicality, good legs, and still I have good quality.' He later added in Korean, via an interpreter: 'My fitness is great, as I just went through preseason. I came here to play soccer, and I'm ready to play. But there's some preparation work to be done, and I'll work with the coaching staff and others to get on the pitch as soon as possible. Advertisement 'Just because I had a successful career in Europe, doesn't mean I will do here. So, I want to see this as a new challenge, and do my best. All that I've received, I want to give back to the ownership and the team and the club, and do the best I can, and leave when the time comes as a legend of the club.' Son, upon receipt of his P-1 visa, should be eligible to debut this Saturday against the Chicago Fire (8:30 p.m. ET, Apple MLS Season Pass). With LAFC's next three games on the road, his home debut won't come until September at the earliest — either Sept. 1 vs. San Diego FC or Sept. 21 vs. Real Salt Lake. LAFC currently sits in sixth place in the Western Conference, 10 points behind San Diego, but with two or three games in hand on each of the five teams above it. It is in position to qualify for the playoffs, and perhaps to contend for MLS Cup — which would be the fifth trophy in the club's eight-year history. (Top photo of LAFC owner Bennett Rosenthal (l) and GM John Thorrington (r) flanking Son Heung-min: Kevork Djansezian / Getty Images) Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
Yahoo
35 minutes ago
- Yahoo
Fortinet Stock Before Q2 Earnings: Buy Now or Wait for Results?
Fortinet FTNT is slated to report second-quarter 2025 results on Aug. the second quarter of 2025, Fortinet expects revenues in the range of $1.59-$1.65 billion. It anticipates non-GAAP earnings per share in the band of 58-60 Zacks Consensus Estimate for second-quarter revenues is pegged at $1.62 billion, suggesting year-over-year growth of 12.9%. The consensus mark for earnings is pinned at 59 cents per share, which has remained unchanged over the past 30 days. The estimate indicates a year-over-year increase of 3.51%. Image Source: Zacks Investment Research FTNT Earnings Surprise History In the last reported quarter, the company delivered an earnings surprise of 9.43%. The company's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 23.83%. Fortinet, Inc. Price and EPS Surprise Fortinet, Inc. price-eps-surprise | Fortinet, Inc. Quote Earnings Whispers for DDOG Our proven model does not predict an earnings beat for Fortinet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP has an Earnings ESP of 0.00% and carries a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here. Factors Shaping Upcoming Results of FTNT Fortinet entered the second quarter of 2025 with exceptional momentum following a record-setting first quarter that successfully delivered 14% revenue growth to $1.54 billion and achieved a record operating margin of 34%. The company's strong first-quarter performance was driven by a record free cash flow of $783 million and robust growth in strategic focus areas, with Unified SASE billings increasing 18% and accounting for 25% of total business, while AI-driven secure operations billings surged 29% to represent 10% of the the second quarter, Fortinet launched the highly anticipated FortiGate 700G series, a next-generation firewall that delivered up to 7x higher firewall throughput and 4x better threat protection compared to competitors while consuming 7x less power per gigabit. This innovative product, powered by Fortinet's proprietary Network Processor 7 and Security Processor 5 ASIC technologies, incorporates advanced AI-powered threat detection through FortiAI-Protect and post-quantum cryptography readiness, positioning the company to capture increased market share in the campus security company further strengthened its comprehensive product portfolio in June with the strategic unveiling of its advanced AI-powered workspace security suite, including FortiMail Workspace Security enhancements and powerful FortiDLP upgrades that extended protection beyond email to include browser and collaboration security. July brought additional validation when Fortinet was recognized as a Leader in the 2025 Gartner Magic Quadrant for SASE Platforms and ranked #1 in the Secure Branch Network Modernization use on the first-quarter's exceptionally strong new customer acquisition of more than 6,300 new logos representing 14% growth, driven by strategic channel partner investments, and the company's maintained position as the number one deployed firewall vendor worldwide and market leader in SD-WAN and OT security, these highly strategic product launches and significant industry recognition positioned Fortinet for strong second-quarter 2025 financial results and demonstrate continued strong market the competitive landscape remains fierce from rivals like Palo Alto Networks PANW, Zscaler ZS and CrowdStrike CRWD, Fortinet's focus on reducing complexity, expanding sales capacity, and accelerating SASE adoption positions it for durable long-term growth, making it a smart buy choice for investors ahead of second-quarter 2025 results. Top-Line Growth Estimates for Q2 Our model estimate for second-quarter 2025 Americas revenues is pegged at $664.8 million, indicating 11.7% growth from the figure reported in the year-ago model estimate for Asia Pacific and Japan revenues is pinned at $324.6 million, indicating growth of 18.6% from the figure reported in the year-ago model estimate for Europe, Middle East and Africa revenues is pegged at $629.5 million, suggesting a 11.4% decrease from the figure reported in the year-ago model estimate for second-quarter 2025 total billings is pegged at $1.73 billion, indicating a 12.3% decrease from the figure reported in the year-ago quarter. FTNT Price Performance & Stock Valuation Shares of Fortinet have gained 4.9% in the year-to-date period, outperforming the Computer and Technology sector and the S&P 500 index's decline of 9.1% and 5.7%, respectively. The company's outperformance can be attributed to its establishment as a leading provider of SASE solutions. SASE adoption is accelerating across enterprises, and to keep pace, Fortinet continuously enhances FortiOS, integrating advanced networking and security into a unified platform. FTNT's YTD Price Performance Image Source: Zacks Investment Research Fortinet's valuation may be a concern for some investors. The stock is trading at a significant premium compared to the broader Zacks Security industry. As of the latest data, FTNT's Price/Book ratio hovers around 37.97, well above the industry's 17.52, reflecting investors' high growth expectations. The Value Score of F further reinforces a stretched valuation for Fortinet at this moment. FTNT Trades at a Premium Image Source: Zacks Investment Research Investment Considerations Fortinet represents a compelling investment opportunity despite premium valuation, as the company's record-setting first-quarter performance with 34% operating margins and strategic product launches position it for exceptional second-quarter results. The groundbreaking FortiGate 700G series delivers 7x higher performance and AI-powered security innovations demonstrate sustainable competitive advantages that justify premium pricing. With 18% Unified SASE growth, market-leading positions in firewalls and SD-WAN, and Gartner Magic Quadrant Leadership recognition, Fortinet continues expanding its market share against competitors. Strong customer acquisition exceeding 6,300 new logos and robust free cash flow generation provide a foundation for continued outperformance, making the current valuation attractive before anticipated second-quarter strength. Conclusion Fortinet's exceptional first-quarter momentum, groundbreaking FortiGate 700G launch, and market-leading SASE growth create compelling catalysts for strong second-quarter performance. With record margins, robust customer acquisition, and continued innovation leadership, investors should strategically capitalize on current opportunities before anticipated earnings strength potentially drives significant stock appreciation heading into the August results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fortinet, Inc. (FTNT) : Free Stock Analysis Report Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report Zscaler, Inc. (ZS) : Free Stock Analysis Report CrowdStrike (CRWD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio