US Politics & Business News
Read the latest business news today at Congress.net
After a brutal July for technology stocks, hedge funds may be stepping back from the sector in ways that leave it increasingly vulnerable to retail-driven volatility. JPMorgan strategists led by Nikolaos Panigirtzoglou warn that battered hedge funds, forced out of tech stocks after a punishing July, may leave the tech trade increasingly dependent on retail…
AST SpaceMobile, Inc. (ASTS) closed at $68.38 in the latest trading session, representing a decline of 2.74% from the previous day’s closing price. The move significantly underperformed the S&P 500, which posted a comparatively modest daily loss of just 0.17% during the same session. The Dow Jones Industrial Average managed to buck the downward trend,…
IonQ (IONQ) is set to report its second-quarter 2026 results after market close tomorrow, with investors weighing strong execution against stretched valuations. The company’s stock surged 91.7% during the April-June quarter, driven by strong first-quarter results and raised full-year revenue guidance. IonQ also completed the acquisition of SkyWater Technology to vertically integrate quantum chip manufacturing,…
Kratos Defense & Security Solutions (KTOS) reported second-quarter 2026 adjusted earnings of 21 cents per share, blowing past the Zacks Consensus Estimate of 13 cents by 61.5%. That bottom-line result marked a 90.9% jump from the year-ago quarter’s adjusted earnings of 11 cents per share, signaling strong operational momentum. GAAP earnings came in at 2…
SpaceX employees and early investors are facing their first real opportunity to sell shares, though a sharp decline in the stock price will significantly limit their gains. The company’s first lockup expiration is scheduled for August 6, 2026, unlocking roughly 911.5 million shares held by insiders for trading on the open market. SpaceX’s approach to…
Figma shares fell sharply in after-hours trading Wednesday despite the design software company posting a decisive second-quarter earnings beat driven by its aggressive artificial intelligence push. The company reported second-quarter revenue of $370.08 million, surpassing analyst estimates of $351.56 million by a considerable margin. Adjusted earnings came in at eight cents per share, doubling the…
Five months after slashing 40% of its workforce in the name of artificial intelligence, Block is making a strong case that the painful decision was the right one. CEO Jack Dorsey cut over 4,000 jobs at Block earlier this year, shrinking the company from more than 10,000 employees to under 6,000 workers. Dorsey framed the…
AST SpaceMobile (ASTS) and Vertiv Holdings (VRT) represent two very different bets for growth-oriented investors weighing their options in 2026. AST SpaceMobile trades at roughly 225 times its trailing 12-month revenue, a premium valuation that reflects the market’s high expectations for the satellite connectivity company. Vertiv, by contrast, trades at approximately 9 times revenue, a…
After a brutal July rout, publicly traded space stocks are staging a powerful comeback, driven by satellite launches, defense contracts, earnings beats, and fresh lunar milestones. Voyager Technologies (VOYG) led all gainers with a 54% weekly return, followed by Redwire (RDW) at 38%, AST SpaceMobile (ASTS) at 29%, and Rocket Lab (RKLB) at 28%. Firefly…
Raytheon, a division of RTX (NYSE: RTX), has delivered and installed the first SPY-6(V)4 radar array at Wallops Island, marking a significant program milestone. The radar system is a core component of the U.S. Navy’s Flight IIA Destroyer modernization and backfit program, a long-term defense initiative. Extensive testing of the newly installed SPY-6(V)4 system is…