krblokhin/iStock Editorial via Getty Images The U.S. Navy has awarded Northrop Grumman ( NOC ) a contract modification to produce up to nine additional Surface Electronic Warfare Improvement Program (SEWIP) Block 3 systems, including the first unit intended for installation on an aircraft carrier, the company said Monday. The first SEWIP Block 3 system was installed on the U.S.S. Pinckney (DDG-91)...
krblokhin/iStock Editorial via Getty Images The U.S. Navy has awarded Northrop Grumman ( NOC ) a contract modification to produce up to nine additional Surface Electronic Warfare Improvement Program (SEWIP) Block 3 systems, including the first unit intended for installation on an aircraft carrier, the company said Monday. The first SEWIP Block 3 system was installed on the U.S.S. Pinckney (DDG-91), a guided missile destroyer, in 2023. (Northrop Grumman) SEWIP Block 3 is part of the Navy’s broader effort to enhance ship defenses against missile threats. The system uses electronic attack capabilities to disrupt or counter incoming weapons, improving the survivability of surface vessels. With the latest award, Northrop Grumman ( NOC ) is now under contract to deliver as many as 24 systems. The first SEWIP Block 3 system was installed in 2023 on the guided missile destroyer U.S.S. Pinckney , marking an initial deployment of the technology within the fleet. In parallel, the company is developing a related capability known as Scaled Onboard Electronic Attack, designed for ships that cannot accommodate the full SEWIP Block 3 system. The smaller system is intended to provide similar electronic warfare functions with reduced size, weight and power requirements. Northrop Grumman ( NOC ) is currently working with the Navy on the Scaled Onboard Electronic Attack program under a rapid prototyping effort. Company officials said the technology builds on experience gained from SEWIP Block 3 and is aimed at extending electronic attack capabilities across a wider range of vessels. More on Northrop Grumman Northrop Grumman: Undervalued Ahead Of Key Program Ramp Northrop Grumman Corporation (NOC) Presents at Citi's Global Industrial Tech & Mobility Conference 2026 Transcript Northrop Grumman: The Indispensable Industrial Capacity Moat NATO is at a breaking point with defense spending on the line Northrop Grumman wins $885M Army ammunition contract
Yuriy T/iStock Editorial via Getty Images Amazon.com, Inc. ( AMZN ) has seen a small dip in its share price, recently prompting me to write this article. Amazon’s fundamentals are very strong: In FY25 , Amazon's revenue grew by 12% to $716.9 billion, operating income to roughly $80.0B, and AWS revenue to $128.7B. In Q4 2025, AWS grew 24%, its fastest growth in 13 quarters, while advertising grew 2...
Yuriy T/iStock Editorial via Getty Images Amazon.com, Inc. ( AMZN ) has seen a small dip in its share price, recently prompting me to write this article. Amazon’s fundamentals are very strong: In FY25 , Amazon's revenue grew by 12% to $716.9 billion, operating income to roughly $80.0B, and AWS revenue to $128.7B. In Q4 2025, AWS grew 24%, its fastest growth in 13 quarters, while advertising grew 22%, according to management. Andy Jassy, CEO of Amazon, also strongly believes that AWS can reach $600 billion in annual revenue by 2036. AWS is also the world's largest cloud provider, taking up about 28-30% of market share. For these reasons and others that I will cover, I rate AMZN as a Strong Buy. This doesn’t go without risk. Amazon is in one of the most competitive industries in the world right now. Although they are the number 1 cloud provider, Microsoft ( MSFT ) Azure and Alphabet's ( GOOG ) Google Cloud are creeping up quickly. There is also a risk that Amazon is overspending on AI, and their free cash flows may remain depressed and crunch their return on invested capital. More of this below. Financial Overview In FY25, Amazon performed very well. Total revenue was $716.9B, up from $638.0B in FY24. Operating income and net income also saw growth in FY25, now roughly $80.0B and $77.7B roughly. Even more notably, operating and net margins are approximately 11.2% and 10.8% in FY25, up from 10.8% and 9.3% in FY24. Proprietary Let’s get into the main reasons why Amazon has seen a strong FY25 performance. Amazon’s biggest driver remains to be AWS, up 20% YoY and 24% in Q4 2025. Driven by cloud demand, AI workloads, and enterprise adoption. This is Amazon’s growth engine, and I believe this is just the beginning for AWS’ expansion because of their AI investments. In FY25, Amazon’s advertising is another high-growth, high-margin segment, being 22%, says management . This explains that there are more sellers on Amazon and higher monetization per user. Amazon’s retail busine...
Yuriy T/iStock Editorial via Getty Images Amazon.com, Inc. ( AMZN ) has seen a small dip in its share price, recently prompting me to write this article. Amazon’s fundamentals are very strong: In FY25 , Amazon's revenue grew by 12% to $716.9 billion, operating income to roughly $80.0B, and AWS revenue to $128.7B. In Q4 2025, AWS grew 24%, its fastest growth in 13 quarters, while advertising grew 2...
Yuriy T/iStock Editorial via Getty Images Amazon.com, Inc. ( AMZN ) has seen a small dip in its share price, recently prompting me to write this article. Amazon’s fundamentals are very strong: In FY25 , Amazon's revenue grew by 12% to $716.9 billion, operating income to roughly $80.0B, and AWS revenue to $128.7B. In Q4 2025, AWS grew 24%, its fastest growth in 13 quarters, while advertising grew 22%, according to management. Andy Jassy, CEO of Amazon, also strongly believes that AWS can reach $600 billion in annual revenue by 2036. AWS is also the world's largest cloud provider, taking up about 28-30% of market share. For these reasons and others that I will cover, I rate AMZN as a Strong Buy. This doesn’t go without risk. Amazon is in one of the most competitive industries in the world right now. Although they are the number 1 cloud provider, Microsoft ( MSFT ) Azure and Alphabet's ( GOOG ) Google Cloud are creeping up quickly. There is also a risk that Amazon is overspending on AI, and their free cash flows may remain depressed and crunch their return on invested capital. More of this below. Financial Overview In FY25, Amazon performed very well. Total revenue was $716.9B, up from $638.0B in FY24. Operating income and net income also saw growth in FY25, now roughly $80.0B and $77.7B roughly. Even more notably, operating and net margins are approximately 11.2% and 10.8% in FY25, up from 10.8% and 9.3% in FY24. Proprietary Let’s get into the main reasons why Amazon has seen a strong FY25 performance. Amazon’s biggest driver remains to be AWS, up 20% YoY and 24% in Q4 2025. Driven by cloud demand, AI workloads, and enterprise adoption. This is Amazon’s growth engine, and I believe this is just the beginning for AWS’ expansion because of their AI investments. In FY25, Amazon’s advertising is another high-growth, high-margin segment, being 22%, says management . This explains that there are more sellers on Amazon and higher monetization per user. Amazon’s retail busine...
Iran’s oil exports are almost completely dependent on a small outpost in the Persian Gulf: Kharg Island. Lying 15 miles (24 kilometers) off the Iranian mainland, the island is the loading point for around 90% of the country’s crude shipments. Exports have only dipped slightly since the US and Israel launched strikes against Iran, as the Islamic Republic has continued to send its own vessels throug...
Iran’s oil exports are almost completely dependent on a small outpost in the Persian Gulf: Kharg Island. Lying 15 miles (24 kilometers) off the Iranian mainland, the island is the loading point for around 90% of the country’s crude shipments. Exports have only dipped slightly since the US and Israel launched strikes against Iran, as the Islamic Republic has continued to send its own vessels through the Strait of Hormuz while effectively closing the waterway to all but approved ships from elsewhere. While Kharg Island has already been caught up in the war, a round of US bombing in mid-March targeted military assets and spared the oil infrastructure. Since then, President Donald Trump has floated seizing Iran’s oil export hub or “obliterating” it , even as he claims talks to end the conflict are making progress. Either action would be a marked escalation. A ground operation would carry huge risks, including significantly more casualties than the US has suffered so far. What could a US invasion of Kharg Island achieve? Speculation that the US will mount a ground offensive has been growing as it deploys thousands more troops to the Middle East, including an amphibious assault team. Taking control of Kharg’s oil facilities could allow the US to halt the bulk of Iran’s crude exports. This would put further pressure on the Iranian economy — which is highly reliant on oil revenue and has already been heavily strained by years of sanctions — and could provide leverage to force Iran to allow maritime traffic to resume through the Strait of Hormuz. Iran has other oil export terminals but none can match the capacity of Kharg, which handles around 1.5 million barrels of oil per day. While the Jask terminal, located at the eastern end of the Strait of Hormuz, was built to reduce Iran’s dependence on the waterway, shipments from there have been infrequent. It’s only loaded five tankers since officially opening in 2021. That said, Iran has endured extended periods of low oil export...
The S&P 500 Index ($SPX ) (SPY ) today is down -0.75%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.21%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.18%. Stock indexes turned lower this afternoon as the market digests the first $100+ oil...
The S&P 500 Index ($SPX ) (SPY ) today is down -0.75%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.21%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.18%. Stock indexes turned lower this afternoon as the market digests the first $100+ oil...
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — People are worried about the economy right now. The combination of weak hiring, high gas prices and a raft of large corporate layoff announcements has led to investors taking a second look at some defensive stocks that haven't done much in recent years (decades). Two stocks t...
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — People are worried about the economy right now. The combination of weak hiring, high gas prices and a raft of large corporate layoff announcements has led to investors taking a second look at some defensive stocks that haven't done much in recent years (decades). Two stocks that fit the bill are AT & T (T) and Verizon (VZ) . Over the last 10 years, they've trailed the market as investors prized asset-light companies with big profit margins and even bigger growth. T has annualized at just under 6% per year, while VZ has done just under 5%. That's basically bond-like performance, as these companies spent the last few years unwinding some of the worst media deals in history. AT & T spent $85 billion to buy Time Warner, ultimately puking it up (along with $45 billion in debt) into a spin-off merger with Discovery Media (you know what happened next - Larry Ellison's son and Netflix just had a knife fight over it this winter). Not to be outdone, the brain trust at Verizon inexplicably decided to spend a combined $10 billion to acquire AOL (literally, America Online) and Yahoo, both of which it disgorged shortly afterward. Wall Street analysts began referring to AT & T and Verizon as "Dumb and Dumber" and shareholders had to watch as years of cashflow were washed down the drain from ill-fated M & A. But that was then and this is now. AT & T is now doubling down on what it does best, communications and fiber optics for voice, wireless and data. It's in a great position for the Age of AI. Verizon just posted a blow-out subscriber number the last time it reported earnings . The effects of its costly price war with T-Mobile seem to be ebbing. And, in the end, when investors are looking for companies with defensive characteristics, they usually come back to the mobile phone business. In the modern economy, a stressed consumer would probably give up their c...
Federal Reserve Chair Jerome Powell says there’s tension currently between the central bank’s two main objectives during an event at Harvard University in Cambridge, Massachusetts. (Source: Bloomberg)
Federal Reserve Chair Jerome Powell says there’s tension currently between the central bank’s two main objectives during an event at Harvard University in Cambridge, Massachusetts. (Source: Bloomberg)
Italy’s government is nearing decisions on who will lead major state-backed companies worth about €250 billion ($287 billion), with shakeups expected at some of the firms. The list of companies with board chairs and chief executive officers whose terms are set to expire by May include energy and defense groups Eni SpA , Enel SpA and Leonardo SpA . Changes are under consideration for Leonardo, Bloo...
Italy’s government is nearing decisions on who will lead major state-backed companies worth about €250 billion ($287 billion), with shakeups expected at some of the firms. The list of companies with board chairs and chief executive officers whose terms are set to expire by May include energy and defense groups Eni SpA , Enel SpA and Leonardo SpA . Changes are under consideration for Leonardo, Bloomberg reported on Saturday. Read More: Meloni Mulls Changes at Italian State Firms After Setback The government of Prime Minister Giorgia Meloni is set to confirm Claudio Descalzi for another term as CEO of Eni, the oil-and-gas company that plays an outsize role in Italian foreign relations, as well as Matteo Del Fante at state-controlled Poste Italiane SpA , people familiar with the matter said. Decisions on other CEO roles remain under discussion and haven’t been finalized, the people added, asking not to be named before deliberations are concluded. The choices will offer insight into Meloni’s priorities for strategic sectors, and play a key role in shaping the 49-year-old premier’s economic agenda as she seeks a second term. The stakes have risen with a war in the Middle East that’s jolted energy prices and put pressure on defense companies to meet rising needs in Europe. Meloni’s government is due to announce the choices at six major state-backed firms as soon as this week, capping weeks of negotiations within her ruling coalition, people familiar with the matter said. The premier is leaning toward changes, with the board chairs at all six companies potentially being replaced, the people said. Talks are ongoing regarding these roles, they said. The companies include Enel, Eni, Leonardo, Poste, grid operator Terna SpA and air traffic control Enav SpA . A spokesperson for the government declined to comment, as did representatives at energy utility Enel, Leonardo, Poste, Terna and Enav. Eni declined to comment “on decisions that are up to our shareholders.” Political Reset...