Home Depot's CEO says the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
For investors still haunted by last week's monster sell-off, the market's comeback is set to last, according to J.P. Morgan's quant guru.Marketsread more
A U.S.-China trade deal would be less likely if President Xi cracks down violently on the large-scale protests in Hong Kong, Secretary of State Mike Pompeo tells CNBC.Politicsread more
The launch follows a "preview" earlier this month that allowed only limited customers to apply.Technologyread more
Financial advisers are always "buying at the wrong time and selling at the wrong time because they're emotional," the billionaire founder of Baron Capital says.Marketsread more
Energy stocks may be fueling up for a comeback rally. One technical analyst says that after the sector's pummeling, these two stocks look particularly good.Trading Nationread more
Bruce Linton says he bought more stock in Canopy Growth — even though the cannabis company he co-founded fired him earlier this summer.Health and Scienceread more
"We think the stock is appealing once again," J.P. Morgan says of Beyond Meat.Marketsread more
A new probe could bring more pressure to some of the nation's largest tech firms, which are already facing federal scrutiny.Technologyread more
Got extra stuff? Got extra space? A new company is ready to make a match. Neighbor is a barely two-year-old company that connects homeowners online with people who need...Real Estateread more
The company confirmed it's hiring a team of veteran journalists to help curate news stories in its soon-to-launch news tab.Technologyread more
The physical size of these rockets may be small but the competition in miniaturized spacecraft is growing steadily, epitomized by Rocket Lab's launch on Thursday evening of a prototype military spacecraft.
Rocket Lab successfully sent the R3D2 spacecraft into orbit for the Pentagon's research division, which is called DARPA (Defense Advanced Research Projects Agency). Originally scheduled for January, the mission was delayed because DARPA needed "a little bit more time" to get ready, Rocket Lab CEO Peter Beck told CNBC in an interview before the launch.
"This is just the reality of doing business in space," Beck said.
About the size of a refrigerator, the R3D2 spacecraft is a prototype intended to test a new type of unfolding antenna "to improve radio communications in small spacecraft," Rocket Lab said in a press release. Beck noted that the spacecraft is complex and "stretches the legs" of his company's Electron rocket in regards to how much mass it can send to space.
This was the fourth orbital launch for Rocket Lab, which is the leader in a new market of small rocket services provided by private companies. The company's Electron rocket costs about $5.7 million a launch. After reaching orbit for the first time last year, Rocket Lab aims to significantly increase the frequency of its launches in the near future.
Even though the delay means Rocket Lab may not hit the 16 launches in 2019 that Beck previously estimated, he said the company is still "producing one [rocket] a month." Rocket Lab aims to be launching "one every to weeks" by the end of the year, Beck said. He hedged that by saying, "We'll see how we go."
Rocket Lab, with a valuation of more than $1.2 billion, is the first of a new generation of private companies building small rockets to begin commercial operations. Richard Branson's Virgin Orbit, as well as Morgan Stanley-backed Vector and start-up Firefly Aerospace, are also developing small rockets.
In total, Rocket Lab estimates there are 117 rocket companies competing in this booming market of small satellites, which now launches hundreds of spacecraft a year.
Notably, although there has been heavy investment in small rockets the past few years, the market is currently a tiny corner of the $400 billion space industry. The window of opportunity is already narrowing for competing small rocket companies to reach maturity, Beck believes. He said Rocket Lab is signing customers to launch on the Electron rocket that previously had been working with companies that have yet to fly.
Beck said there is "going to be some pretty decent consolidation in the next 12 to 18 months" among the number of companies building small satellites. And similarly, the market for small rocket builders "is just getting over-inflated and it seems to be getting out of whack from our perspective," Beck said.
Beck was hesitant to crown his company the winner of the small private rocket race. It "depends on your definition of won," he said.
"We're the only ones putting s--- on orbit," Beck said.