financetom
Business
financetom
/
Business
/
Update: Market Chatter: Northrop Grumman, Elon Musk's SpaceX Working on Classified US Spy Satellite System
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Market Chatter: Northrop Grumman, Elon Musk's SpaceX Working on Classified US Spy Satellite System
Apr 18, 2024 9:11 AM

11:48 AM EDT, 04/18/2024 (MT Newswires) -- (Updates with details throughout.)

Northrop Grumman ( NOC ) is working with Elon Musk's SpaceX business on a classified US spy satellite project, Reuters reported Thursday, citing people familiar with the program.

The program, which is already capturing high-resolution Earth imagery, will help improve the US government's ability to track military and intelligence targets from low-Earth orbits, according to the report, citing the people.

The aerospace and defense technology company is providing sensors for some of the SpaceX satellites, the unnamed sources told the news agency.

Northrop will test the satellites at its facilities before their launch, Reuters reported, citing two sources. The company expects at least 50 SpaceX satellites at its facilities for procedures including testing and sensor installation in coming years, one of the sources told the news agency.

Northrop's inclusion in the project comes as government officials seek to avoid giving too much control of a highly sensitive intelligence program to one contractor, Reuters reported, citing four people familiar with the project.

Northrop and SpaceX didn't respond to requests for comment, Reuters reported.

Northrop and SpaceX didn't immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Rivian Automotive Insider Sold Shares Worth $272,230, According to a Recent SEC Filing
Rivian Automotive Insider Sold Shares Worth $272,230, According to a Recent SEC Filing
Mar 19, 2026
04:42 PM EDT, 03/19/2026 (MT Newswires) -- Robert J Scaringe, Director, Chief Executive Officer, on March 17, 2026, sold 17,450 shares in Rivian Automotive ( RIVN ) for $272,230. Following the Form 4 filing with the SEC, Scaringe has control over a total of 3,677,911 Class A common shares of the company, with 1,042,848 shares held directly and 2,635,063 controlled...
Insperity Insider Bought Shares Worth $4,688,790, According to a Recent SEC Filing
Insperity Insider Bought Shares Worth $4,688,790, According to a Recent SEC Filing
Mar 19, 2026
04:43 PM EDT, 03/19/2026 (MT Newswires) -- Paul J Sarvadi, Director, Chairman of the Board & CEO, on March 17, 2026, executed a purchase for 201,987 shares in Insperity ( NSP ) for $4,688,790. Following the Form 4 filing with the SEC, Sarvadi has control over a total of 1,472,582 common shares of the company, with 474,670 shares held directly...
FedEx Tops Q3 Estimates, Freight Spin-Off Remains On Track
FedEx Tops Q3 Estimates, Freight Spin-Off Remains On Track
Mar 19, 2026
FedEx Corp ( FDX ) delivered financial results for the third quarter of fiscal 2026 on Thursday that exceeded expectations. Here’s a rundown of the report. FedEx ( FDX ) stock is showing positive momentum. What’s next for FDX stock? FedEx Reports Q3 Results FedEx ( FDX ) reported third-quarter revenue of $24 billion, beating analyst estimates of $23.42 billion, according to Benzinga Pro....
Damora Therapeutics FY Swings to Profit
Damora Therapeutics FY Swings to Profit
Mar 19, 2026
04:40 PM EDT, 03/19/2026 (MT Newswires) -- Damora Therapeutics ( DMRA ) reported FY 2025 earnings late Thursday of $3.98 per diluted share, swinging from a loss of $18.53 a year earlier. Three analysts polled by FactSet expected a loss of $0.96. Cash and cash equivalents were approximately $257.6 million as of Dec. 31. Shares were down more than 2.6%...
Copyright 2023-2026 - www.financetom.com All Rights Reserved