Market Watch

U.S. Air Force Gen. John Hyten arrives for testimony before the Senate Armed Services Committee on his appointment as the next vice chairman of the Joint Chiefs of Staff on July 30, 2019. By Marcus Weisgerber As the vice chairman of the Joint Chiefs, John Hyten worked to streamline the military’s requirements process , to speed up the process. Now more than a year into retirement, he’s working to help commercial companies break into the defense sector. “It’s frustrating for a commercial company to figure out how to do business [with the Pentagon], but if we don’t win the artificial intelligence race, and we don’t win the quantum race, we’re in a world of hurt as a country,” Hyten said in an interview. Since retiring in November 2021, Hyten said he preferred to work with “more non-traditional companies—companies that are going fast.“ “I chose people that understand the need to go fast [and] understand the need for national security, but also have a commercial focus,” he said. Hyten recently joined Pallas Advisors, the consulting firm founded by Sally Donnelly and Tony DeMartino, aides to former Defense Secretary Jim Mattis, which reps a number of defense startups and also has […]

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NXP Semiconductors ( NXPI ) late Monday beat estimates for the fourth quarter thanks to a surge in automotive chip sales. But it set its outlook lower for the current period. NXPI stock slid in extended trading. The Dutch chipmaker earned an adjusted $3.73 a share on sales of $3.31 billion in the December quarter. Analysts polled by FactSet had expected NXP to earn $3.64 a share on sales of $3.3 billion. On a year-over-year basis, NXP earnings rose 17% while sales climbed 9%. In the fourth quarter, NXP’s automotive chip sales jumped 17% to nearly $1.81 billion. However, industrial chip sales dropped 8% to $605 million. Meanwhile, mobile chip sales increased 9% and communications infrastructure chips advanced 8% in the quarter. Plus, What New Features And Tools Did Brokers Add Last Year To Help Investors Handle The Brutal Bear Market? For the current quarter, NXP forecasts adjusted earnings of $3.01 a share on sales of $3 billion. That’s based on the midpoint of its outlook. Wall Street had predicted earnings of $3.14 a share on sales of $3.17 billion in the first quarter. NXPI Stock Drops On Weak Outlook In after-hours trading on the stock market today , […]

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BENGALURU, Jan 31 (Reuters) – Century Textiles and Industries Ltd (CNTY.NS) , the flagship company of India’s Aditya Birla Group, reported a 38% drop in third-quarter profit on Tuesday, due to weakness in its textile business and stagnant losses in its real estate unit. The company’s consolidated net profit fell to 87.2 million rupees ($1.1 million) in the three months ended Dec. 31 from 141.5 million rupees a year ago. Home textile business revenue at its textile unit Birla Century fell 9% to 2.50 billion rupees, accounting for about 22% of total revenue. The company said higher input prices led to sales volatility of garments and fabrics, adding that while demand in its domestic markets were stable, exports took a hit amid recessionary concerns. About three-quarters of the Mumbai-based company’s total revenue comes from its pulp and paper business, where sales rose 18.1% in the quarter. That helped consolidated sales increase nearly 10% to 11.50 billion rupees. Shares of the company fell sharply after the results were announced but were last up about 5%. While revenue in the Birla Estates business rose nearly 5% from a year ago due to new projects in Mumbai and Bengaluru, its loss widened […]

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Ready to roll in a recession getty Starting a business during a downturn can be nerve-wracking, yet some of the most famous brands were launched during an economic crisis. Airbnb and Uber began trading during the 2008 global financial crisis; Burger King opened its doors in 1953 when the U.S. was in recession, while Hewlett-Packard was founded in a Palo Alto garage in 1939 during the Great Depression. With the R-word threatening to rear its head again, the key question is why? According to John Mullins , associate professor of management practice at London Business School and author of ‘ Break the Rules! The Six Counter–Conventional Mindsets of Entrepreneurs That Can Help Anyone Change the World ’, there are three key reasons. He says: “Firstly, during or in anticipation of economic downturns, as we are seeing today, large companies are cutting costs and reeling in their ambitions, which means less innovation and less competition for others who innovate. Secondly, many of the resources a startup needs, people, real estate, etc., become more plentiful and cheaper. Third, entrepreneurs with great business ideas are probably more inclined to think, why not give that good idea a go?” That was the reasoning […]

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Copy This Embed Code: Ad BALTIMORE — In Maryland, consumers have the power to choose who supplies their gas and electricity. This de-regulation is supposed to promote competition by allowing customers to shop around for better prices, but an Annapolis business owner said this backfired when his employee switched their service without his knowledge. It started with a collection notice from a company called SFE Energy. “I’ve never heard of this company before in my life. We’ve been with BGE for 30 years,” said George Criswell, president of Criswell Acura. Criswell ignored the bill at first. “I thought it was a fake bill, we get fake bills in the mail pretty often, so I put ‘do not pay,’ put it aside. I started thinking about it a few days later and then I started Googling it – where is this bill coming from? Who are these people?” said Criswell. He asked his employees, and a worker in accounts payable recognized the name. She claimed to have authorization to change the supplier and signed a contract in June. The locked in rate was 14.03 cents per kilowatt hour for 4 years. The rate is slightly lower than BGE’s peak rate […]

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Marshall Denney , a retired U.S. Marine Corps colonel, has joined Client Solution Architects , a provider of integrated technology platforms and operational support services to defense and federal government clients, as vice president of the company’s Navy business unit, GovCon Wire has learned. In this capacity, he will lead efforts to achieve the company’s financial and business goals inside the service branch, CSA said Tuesday. “Operational excellence will ultimately determine how quickly we grow, and Marshall’s high degree of proficiency in business development and corporate operations will ensure accelerated growth as we expand and introduce our capabilities to key and adjacent markets within the Navy,” said Tim Spadafore , chief operating officer of CSA. Before CSA, Denney managed the counterthreat and capabilities integration and major command technology integration business units at Amentum . He also served as VP of operations for electromagnetic spectrum and information assurance at AECOM (NYSE: ACM). His 28-year career in the Marine Corps included time as a commanding officer, director of the Joint Electronic Warfare Center and deputy director of operations for U.S. Cyber Command. “It is my responsibility to take the reins to continue to build our three verticals of cyber and information […]

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Emmy the Cow stands in the front window of Green Cow Creamery in Cuero. CUERO — Look out Ruby Begonia, Emmy the Green Cow may soon take over as the mascot of Cuero’s Main Street. Since June, Emmy has attracted visitors in downtown Cuero to the Green Cow Creamery, which offers store-made ice cream. Emmy is stationed in the window so all who pass will see her. The creamery, which in addition to ice cream also offers adult alcohol-infused ice cream, is already turning a profit and had the owners talking abut expanding. It is the brain child of Jeanette Rocha, who opened the business after growing tired of the corporate world in the Houston area. Jeanette, 51, gave up her $300,000-a-year marketing executive position to move to her husband’s hometown and to start a business. She was a store manager for Walmart in Houston for many years as well as working in various marketing roles. “I’ve always wanted to start my own business,” Jeanette said. “I was always thinking about what I was going to do outside of the corporate world because it’s demanding. It’s stressful.” She and her husband Rudy Rocha, 53, had planned to retire to […]

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Active cyber insurance provider Coalition has announced that it has launched its own full-stack insurance carrier called Coalition Insurance Company (CIC). With an A- rating from AM Best, CIC is backed by Coalition’s Active Insurance platform. The carrier will allow brokers to secure cyber protection for a broader range of clients while providing coverage that meets specific client needs, the company explained. Policies issued by CIC will include robust cyber protection for both small and midsize businesses that lack the tools and resources to mitigate cyber risks. “The launch of Coalition Insurance Company marks a critical step in our company’s mission to protect the unprotected,” said Coalition co-founder and CEO Joshua Motta. “Cyber risk exists for any business—regardless of size or industry. With our own carrier, we can innovate faster to protect the broadest set of businesses from emerging cyber threats and make cyber insurance more accessible to small businesses who need it most.” CIC will begin quoting its admitted cyber product in several states starting March 2023, a release said. A national rollout is expected in the months to come. Last year, Coalition acquired Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. The acquisition […]

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Undated photo of downtown Vincennes. (photo courtesy: Tom Bartholomew/Knox Co. Chamber of Commerce) KNOX COUNTY, Ind. – Officials in Knox County have launched a local business retention and expansion program aimed at helping local businesses and improving economic development. Knox County Indiana Economic Development and the Knox County Chamber of Commerce are partnering on this effort to examine the needs and challenges facing employers. The partners have initiated a survey process to survey local business owners and managers. In an interview with Inside INdiana Business, Knox County Development Corp. CEO Chris Pfaff explained what he hopes the survey will discover. “I think the biggest thing is just looking for trends, and then any specific thing that are barriers to growth,” said Pfaff. “There are a lot of different questions in there about how do you perceive our community? And a lot of these questions are teasers to open up a conversation with our local companies about their experience in doing business here in Vincennes and Knox County.” The partners say a number of Knox County businesses will receive a letter in the coming weeks detailing how they can participate in the program. It will explain why participating in the […]

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COSHOCTON − Two local businesses recently received Community Improvement Awards from the Coshocton County Chamber of Commerce for expansions designed to boost the local area. MFM Building Products was recognized for completing its $8 million expansion project in November. Coshocton Regional Medical Center was honored for opening a new walk-in clinic in Warsaw in December. Representatives were presented with plaques at the chamber’s quarterly luncheon held at the M Event Center. MFM held a groundbreaking in March 2021 for a new 46,000-square-foot warehouse to hold raw materials and some finished goods. This allowed a new product line to be added in the main building. Another building where raw materials were stored was also remodeled into office space. A building once used for storage and offices was razed and turned into green space and parking. The firm manufactures exterior, self-adhering waterproofing membranes for the construction industry. Examples include waterproofing material under roof shingles and around windows. MFM sells products to direct distributors, not to contractors or the general public. MFM does business across North America and some countries overseas such as Thailand, Australia and New Zealand. "It was a tough build with the supply chain issues," said Fulfillment Manager Paul […]

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