Fast Money is headed to Silicon Valley on Friday to take a look at why that corner of California has become a "Cradle of Innovation." But we couldn’t wait another day to tell you about this tidbit. Some high tech titans are sending their cash to the cosmos!
CNBC’s Jane Wells has the story. Following are excerpts from her report.
You could probably stack the money going into private space travel from here to the moon. The latest cash infusion comes from Google, which is launching a private race with a $30 million Lunar X Prize. Essentially, it’s a reward that goes to the first team who can land a robotic rover on the moon by 2012.
Also, suborbital space "tourism" flights are getting closer to reality. Blue Origin, (which is a craft owned by Amazon's Jeff Bezos and Richard Branson's Virgin Galactic) is already selling tickets for $200,000. But the timeline for test flights was pushed back after an explosion in July killed 3 workers at Burt Rutan’s “Scaled Composites”, the company making Branson's spaceship. Despite the setback Branson says the first flights will be in 18 months.
But Branson might get a run for his money from Jeff Greason and his company XCOR Aerospace. They’re designing a space craft called Xerus, a reusable rocket-powered vehicle for space travel. It’s also aimed at space enthusiasts with deep pockets. Now who says the sky’s the limit!?
Wells added that Northrop Grumman (NOC) now wholly owns Burt Rutan’s Scaled Composites business.
Dylan Ratigan asked the panel if there was a trade.
Guy Adami recommended the defense names.
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Trader disclosure: On Oct 18, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC); Najarian Owns ( C), (GOOG)(CY); Najarian Owns (SNDK) Options; Finerman Owns (C), (GS); Finerman's Firm And Finerman Own (ASD), (KALU); Finerman's Firm Owns (NYX), (MSFT), (LTD), (BIIB), (BEAS), (COP), (TGT), (VMSI), (WMT); Finerman's Firm Owns S&P 500 Index Puts; Finerman's Firm Owns Russell 2000 Index Puts