Tuesday, April 20

investment

Amazon signs ULA rockets to launch Bezos’ Kuiper internet satellites

Amazon signs ULA rockets to launch Bezos’ Kuiper internet satellites

investment
Rendering of a United Launch Alliance' Atlas V rocket carrying Amazon satellites.ULA/AmazonAmazon is preparing to send its first Project Kuiper internet satellites into orbit, with Jeff Bezos' company announcing on Monday that it signed a contract with United Launch Alliance for nine launches.ULA, a joint venture of Boeing and Lockheed Martin, will use its Atlas V series of rockets to launch the Kuiper missions. Amazon's planned constellation would include 3,236 satellites in low Earth orbit. The company has said it will invest $10 billion in to bring high-speed broadband to consumers, businesses and governments."We're determined to make affordable broadband a reality for customers and communities around the world," Bezos said in a statement. "ULA is a fantastic partner that's successfull...
Images and video of NASA helicopter Ingenuity flying on Mars

Images and video of NASA helicopter Ingenuity flying on Mars

investment
The shadow of NASA's Ingenuity is seen on the surface of Mars as the helicopter hovered during its first flight on April 19, 2021.NASA/JPL-CaltechHere's a look at NASA's historic flight of an aircraft on Mars, a feat the space agency called a "Wright brothers moment."NASA rover Perseverance captured imagery of the flight after rolling a short distance away, with one of its navigation cameras showing a sequence before, during and after the helicopter's flight.Video from NASA rover Perseverance shows helicopter Ingenuity spinning up its rovers, hovering, and then landing on Mars.NASA/JPL-CaltechIngenuity, which weighs 4 pounds, successfully flew autonomously for 39 seconds.NASA's Perseverance rover captured helicopter Ingenuity on the surface of Mars on April 18, 2021 before its first fligh...
SpaceX’s Starship sole winner in NASA’s HLS Moon lander program

SpaceX’s Starship sole winner in NASA’s HLS Moon lander program

investment
SpaceX CEO Elon Musk raises his arms in celebration beneath a Starship rocket prototype under construction in Boca Chica, Texas.Steve Jurvetson on flickrElon Musk's SpaceX beat out teams led by Jeff Bezos' Blue Origin and Leidos subsidiary Dynetics to win a nearly $3 billion contract to build NASA's next crewed lunar lander."It is one more step, in an exciting group of steps, that will get us to a sustainable human landing system to the moon," Kathy Lueders, the leader of NASA's human spaceflight program, said in the agency's announcement.SpaceX's contract is worth $2.89 billion. The Washington Post first reported SpaceX's win on Friday.NASA last year awarded the three teams with $967 million and 10-month contracts to begin work on the lunar lander concepts under its Human Landing Systems...
An activist investor calls for a slate of new directors at apparel retailer Genesco

An activist investor calls for a slate of new directors at apparel retailer Genesco

investment
Friends spending the weekend in the shopping mallmartin-dm | E+ | Getty ImagesCompany: Genesco Inc. (GCO)Business: Genesco is a retailer and wholesaler of branded footwear, apparel and accessories that operates through four business segments: (i) Journeys Group, comprised of retail footwear chains and e-commerce operations; (ii) Schuh Group, which includes the Schuh retail footwear chain and e-commerce operations; (iii) Johnston & Murphy Group, which encompasses the Johnston & Murphy retail operations, e-commerce operations and wholesale distribution of products under the J&M brand and (iv) Licensed Brands, comprised of licensed brands like Dockers and Levi's, as well as other brands licensed for footwear. As of September 6, 2019, the company operated approximately 1,490 retai...
‘Roaring Kitty’ forgoes quick GameStop options payday in the millions, raises stake

‘Roaring Kitty’ forgoes quick GameStop options payday in the millions, raises stake

investment
Keith Gill, the Reddit trading crowd's favorite and the man who inspired the epic GameStop short squeeze,, just doubled down on his bet on the video game retailer, forgoing millions of dollars in quick profit to ramp up his stake.The investor, who goes by DeepF------Value on Reddit and Roaring Kitty on YouTube, exercised his 500 GameStop call options contracts as they expired on Friday, giving him 50,000 more shares at a strike price of just $12. If he had sold the options at Friday's price, he could have made more than $7 million on the bet.On top of exercising these options contracts, Gill bought 50,000 more GameStop shares, bringing his total investment to 200,000 shares worth more than $30 million.While he gave up the quick payday on this options trade, his long investment is now even...

Morgan Stanley had $911 million loss in Q1 tied to Archegos meltdown

investment
Bill Hwang in 2012Emile Warnsteker | Bloomberg | Getty ImagesMorgan Stanley posted blockbuster results for the first quarter, but a single prime brokerage client cost the firm nearly $1 billion.In its earnings results, Morgan Stanley said Friday it had a $644 million loss from a "credit event" for that client, as well as $267 million in related trading losses.That client was Bill Hwang's Archegos, Morgan Stanley CEO James Gorman said during a conference call with analysts, confirming what a person with knowledge of the situation told CNBC earlier. While Morgan Stanley was the biggest prime broker to Archegos, other banks suffered larger losses. Credit Suisse, which CNBC has reported was the No. 2 broker to Archegos, took a $4.7 billion hit to unwind the losing bets and shuffled top manage...
There’s a single New Jersey deli doing $35,000 in sales valued at $100 million in the stock market

There’s a single New Jersey deli doing $35,000 in sales valued at $100 million in the stock market

investment
Your Hometown Deli in Paulsboro, N.J.Google EarthHedge fund manager David Einhorn warned of dangers for retail investors that he sees in the market, and one of his main examples was a tiny New Jersey deli with a market capitalization of more than $100 million.The Paulsboro, New Jersey-based Your Hometown Deli is the sole location for Hometown International, which has an eye-popping market value despite totaling $35,748 in sales in the last two years combined, according to securities filings."Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey ... HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door t...
Richard Branson sells over $150 million in Virgin Galactic stock

Richard Branson sells over $150 million in Virgin Galactic stock

investment
Richard Branson, Founder of Virgin Galactic (C) poses next to George T. Whitesides (R), CEO of Virgin Galactic Holdings after ringing the First Trade Bell to commemorate the company's first day of trading on the New York Stock Exchange on October 28, 2019.Johannes Eisele | AFP | Getty ImagesSir Richard Branson, the founder of Virgin Galactic who helped take the company public in 2019, sold more than $150 million worth of the company's stock over the past three days, a securities filing on Wednesday revealed.Branson, and four entities he controls including Virgin Group, sold 5,584,000 shares of Virgin Galactic between April 12 and 14. The shares were worth $150.3 million, sold at prices between $26.85 and $28.73.Virgin Galactic did not immediately respond to CNBC's requests for comment. Vi...
Credit Suisse is still unloading shares of Discovery from Archegos

Credit Suisse is still unloading shares of Discovery from Archegos

investment
Credit Suisse is still unraveling its positions from the blow up of Archegos Capital Management, traders told CNBC's David Faber, putting more pressure on a beaten-down media stock.The investment bank was shopping blocks of different classes of Discovery stock on Tuesday, Faber reported. Discovery was one of the stocks that fell sharply in late March when the family office run by hedge fund veteran Bill Hwang failed to meet its margin call. Discovery's class A shares were down more than 4% in extended trading.Discovery, along with fellow legacy media player ViacomCBS, saw its stock rise rapidly in the first few months of the year, apparently bid upward by the highly levered Archegos. Discovery's class A stock rose from $30 per share at the end of December to $77 per share in mid-March bef...
NYSE launches ‘First Trade’ NFTs of Spotify, Snowflake and more

NYSE launches ‘First Trade’ NFTs of Spotify, Snowflake and more

investment
People walk by the New York Stock Exchange (NYSE) on the morning that the music streaming service Spotify begins trading shares at the NYSE on April 3, 2018 in New York City.Spencer Platt | Getty ImagesThe New York Stock Exchange announced Monday it would launch "First Trade" NFTs, to memorialize the true first trade of six stocks on the public markets.NFTs, or non-fungible tokens, are a type of digital asset created to track ownership of a virtual item using blockchain technology. Such unique items could be a piece of art or sports trading cards.During a company's public debut, the exchange processes over 350 billion order, quote and trade messages across its markets on its busiest days, NYSE president Stacey Cunningham said in a LinkedIn post.Each message is recorded on the exchange's d