Latest news with #electric aircraft
CBC
2 hours ago
- Business
- CBC
Billy Bishop Airport showcases new electric aircrafts
Starting tomorrow, Billy Bishop Airport will be able to support aircrafts powered by electricity. The airport says this is just one step in making operations cleaner, greener and quieter.
Yahoo
2 days ago
- Business
- Yahoo
Jim Cramer on Joby: 'Let's Go Buy It'
Joby Aviation, Inc. (NYSE:JOBY) is one of the stocks on Jim Cramer's radar. During the episode, a caller inquired about the company, and Cramer said: 'Okay, I know Joby. I recommended it [at] 7. Now, remember Joby did buy a part of Blade that I think is an expensive part, which is consumer. I do believe that what they should do is raise money. If I were them, I would do a gigantic equity offering. And if you did that, then I would say that… that's what you have to do. You have to strike when the iron's hot. Let them, they offer some stock, or let it come in. But I'm with you… I see where it's going. Let's go buy it.' A futuristic electric vertical takeoff and landing aircraft soaring through the sky. Joby Aviation, Inc. (NYSE:JOBY) develops electric vertical takeoff and landing aircraft for aerial ridesharing services. The company is also creating an app-based platform for booking air transportation. In a July episode, Cramer mentioned the company and said: 'Same with Joby Aviation, known to some as the flying car company. I was hesitant to say anything positive about this one. It had gone straight up for six to eight bucks, but then I read that Boeing had a flying car too, one with a vertical takeoff feature, and I believe that Joby is ahead of Boeing, so I recommended it on a small pullback. Next thing you know, the stock's at 17 and change, more than a double. Again, the parabola fear, wrong.' While we acknowledge the potential of JOBY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Reuters
4 days ago
- Business
- Reuters
US court reinstates $81 million award against Boeing in trade secrets case
Aug 14 (Reuters) - A U.S. appeals court on Thursday reinstated an $81 million award against Boeing (BA.N), opens new tab in a lawsuit accusing it of stealing trade secrets from electric-aircraft startup Zunum Aero. The 9th U.S. Circuit Court of Appeals overturned, opens new tab a California judge's decision to throw out a jury verdict for Zunum, rejecting his finding that the information Boeing allegedly stole was not entitled to trade-secret protection. A spokesperson for Boeing declined to comment on the appeals court's decision. Zunum attorney Vincent Levy of Holwell Shuster & Goldberg said that the decision "affirms what we have said from the start — that Zunum had an enormous opportunity to remake air travel, but Boeing took that opportunity away." Washington State-based Zunum was founded in 2013 to develop small electric commuter aircraft that can travel up to 1,500 miles. Boeing's venture capital arm invested $5 million in the startup in 2017. Zunum said in a 2020 lawsuit that it planned to begin selling its planes in 2022 but halted development after Boeing allegedly blocked its access to capital. The complaint said that Boeing developed its hybrid commuter aircraft using Zunum's trade secrets. A federal jury last May awarded Zunum nearly $81.2 million from Boeing for trade secret theft and $11.6 million for tortious interference, but reduced the total award to $72 million based on damages that it said Zunum could have mitigated. U.S. District Judge James Robart later set the final award at $81 million, but overturned the verdict last August after determining that Zunum did not adequately identify its secrets or show that they derived their value from being kept secret. The 9th Circuit said on Thursday, however, that Zunum had provided "sufficient specificity" for the jury to find that its secrets were legally protectable as well as "not generally known, not readily ascertainable, and valuable." The appeals court also ordered the case to be assigned to a new judge after Robart revealed that his wife had acquired Boeing stock through a retirement savings account during the litigation. The case is Zunum Aero Inc v. Boeing Co, 9th U.S. Circuit Court of Appeals, No. 24-5212. For Zunum: Vincent Levy of Holwell Shuster & Goldberg For Boeing: Moez Kaba of Hueston Hennigan Read more: Boeing hit with $72 mln verdict in EV aircraft trade secrets case Boeing should pay more than $300 mln after US verdict, EV aircraft maker says Boeing convinces US judge to overturn $72 mln trade-secrets verdict
