Latest news with #NationalSecuritySpace
Yahoo
28-03-2025
- Business
- Yahoo
Rocket Lab, UbiSoft, Nippon Steel: Stocks in 30
Rocket Lab (RKLB) shares are on the rise as the US Space Force selected the company for a $5.6 billion Space Launch program. UbiSoft ( announces a new video games subsidiary valued at $4.3 billion. Nippon Steel (NPSCY, NISTF) is reportedly considering investing $7 billion to upgrade United States Steel Corporation (X) facilities, according to Semafor. Morning Brief hosts Brad Smith and Madison Mills break down the news. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. First up, Rocket Lab rising after being selected by the US Space Force to compete for the Department of Defense's high priority National Security Missions for its National Security Space launch program. Rocket Lab is one of five launch providers selected, and the contract has a five-year ordering period that will run through June of 2029 with a maximum value of $5.6 billion. City says the selection is a positive for Rocket Lab stock, saying the Space Force could become an important customer for the company. Shares higher. Plus Ubisoft announcing the creation of a new subsidiary that will handle three of its popular video games, Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six. The unit will have an enterprise value of $4.3 billion. Tencent set to invest around $1.25 billion, giving it a minority stake in the business. The new subsidiary will hold the licenses for the IP of the games in exchange for a royalty. The deal is a vote of confidence from Tencent after a few difficult years after the pandemic era lockdowns eased. The deal's also expected to be closed by the end of 2025. Finally, Nippon Steel is reportedly considering investing $7 billion to upgrade US Steel Corp facilities if it wins approval for its planned $14 billion takeover. That is much more than the nearly $2.7 billion it previously offered. For Semaphore, they in this report say that the increased investment comes as Nippon Steel and US Steel hold talks with the Trump administration to salvage the deal. President Trump initially opposed the sale of US Steel, but in February he said he was open to a strategic investment from Nippon Steel.
Yahoo
27-03-2025
- Business
- Yahoo
Analyst revises Intuitive Machines stock price target after earnings
What goes up must come down, but at least you get a hell of a ride. Shareholders of Intuitive Machines () might have felt the G-forces climbing on March 25 after the Houston space-exploration company reported fourth-quarter results. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Intuitive's stock initially took off after the company reported a record backlog for 2024 and ended the year with a record cash balance of $207.6 million. In addition, the shares rose following remarks by CEO Steve Altemus regarding potential growth driven by Elon Musk's Department of Government Efficiency. "The federal government changes and uncertainty at NASA is an opportunity for Intuitive Machines to expand our customer base into areas like National Security Space and broaden our service footprint, in addition to lunar, further diversifying our role in the space economy," he said. Musk's department has been laying off thousands of government employees beginning early in President Donald Trump's administration. In addition to being Tesla's () CEO, Musk is chief executive of SpaceX. "I think the Department of Government Efficiency is looking to drive efficiency within NASA, in particular, in our case, and the monies that are recaptured or saved can be applied to commercial space endeavors that could be more efficient," Altemus said. Intuitive Machines, he said, "is in a position now where we can navigate this kind of commercial market." "We're driving innovation in a rapid, affordable way to deliver space systems reliably," Altemus said. "And that is attractive for this modern era or modern administration approach towards NASA. So I think this is good. This is the way the space agency can get more accomplished and be more globally competitive." More Tech Stocks: Analysts revisit Apple stock price targets as Cook courts Beijing Veteran trader takes hard look at Tesla stock price amid slump, controversy Analysts rework Micron stock price targets after earnings Intuitive Machines was founded in 2013 by Altemus, Kam Ghaffarian and Tim Crain and the company went public in 2023. NASA has outlined how it will respond to Trump's order that federal agencies eliminate 'waste, bloat, and insularity,' CNN reported. But just how sweeping the changes to the nation's space agency might be is as yet unclear. 'Over the past few weeks, an internal team has defined a strategy to identify and act on opportunities for optimizing our organization — whether by streamlining operations, reducing duplicative reporting and analysis, finding areas to accelerate decision velocity, or identifying cost-savings measures,' NASA Acting Administrator Janet Petro said in an email addressed to space agency staff. Intuitive Machines reported revenue of $54.7 million for the quarter, missing the consensus estimate of $57.6 million. In addition, the company provided 2025 revenue guidance of $250 million to $300 million, below analyst expectations of $342.5 million. The space-exploration company's shares nosedived earlier this month after its Athena lunar lander touched down on the moon but tipped over shortly thereafter. Intuitive Machines shares are down nearly 50% year-to-date and up 49% from a year ago. Investment firms issued research reports after the company posted quarterly results.B. Riley says that while Intuitive Machines' fourth-quarter revenue and Ebitda fell short of projections, the company disclosed that it had amassed $385 million of cash as of March 10, following redemption of its $11.50-per-share warrants. This provides an "ample runway" to launch its space technology, infrastructure and services businesses, the firm said. Intuitive now has the flexibility to both pursue organic growth while also considering bolt-on acquisitions, the analyst tells investors in a research note. B. Riley affirmed a buy rating and $14 price target on the shares. Cantor Fitzgerald analyst Andres Sheppard lowered his price target on Intuitive Machines to $13 from $15 and maintained an overweight rating. The shares tumbled 70% after the Athena mishap, but Intuitive disclosed it was able to accelerate payload operations, Sheppard said. He called the current share level an attractive entry point after the recent selloff. The majority of the company's revenue comes not from launch missions but rather from space contracts, the firm says. Sheppard said he that expected Intuitive to capture more than 90% of revenue from its IM-2 Mission, and management disclosed that it expected to capture the majority of the $15.8 million final success payment outstanding.
