GE deepens collaboration with drone maker, sending shares to 52-week highs

GE Aerospace signed a new deal with tech mid-cap Kratos Defense, a maker of drones, electronics, and communications technology for the US military. Both Kratos and GE reached new 52-week highs on Tuesday in intraday trading.

Since the end of 2022, when Russia’s invasion of Ukraine triggered the first war where drones played a central role, shares of Kratos have surged more than 250%.

The company’s sales and profits have been less impressive, leaving it valued at a pricey 65x expected earnings multiple over the next year.

GE, Kratos Expand Partnership On Affordable Engines | Aviation Week Network

The company’s sales and profits have been less impressive, leaving it valued at a pricey 65x expected earnings multiple over the next year.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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