Two main rivals in artificial intelligence going viral for a public snub at the India AI summit. OpenAI Sam Alman and anthropics Dario Amodai refusing to hold hands while on stage with the prime minister of India. For today's tech check, Kate Rooney has more on OpenAI's global push into India.That was so awkward because they all held their hands up and they didn't touch. I know that photo Sarah has certainly been making the rounds on social media. But both anthropic and openi CEOs as you mentioned they have ...

Financial Data and Key Metrics Changes - The company ended 2025 with over $95 billion in backlog, a new record, driven by over $46 billion in net awards in 2025, with a five-year average book-to-bill ratio of 1.1 times [6] - 2025 sales were $42 billion, up 3% organically compared to the prior year, exceeding the high end of the guidance range [20] - Free cash flow for the year was $3.3 billion, representing a 26% increase compared to 2024, marking the third consecutive year of at least 25% growth [6][22] Business Line Data and Key Metrics Changes - Aeronautics Systems segment sales were $3.9 billion in Q4, up 18% year-over-year, driven by the F-35 program and B-21 program ramp-up [19] - Defense Systems (DS) Q4 sales grew by 7% on a GAAP basis, 12% organically, with broad-based growth including solid rocket motors and missile defense [19] - Mission Systems achieved double-digit growth in Q4, driven by strong production volume on restricted programs and international radar systems [20] Market Data and Key Metrics Changes - International sales grew by 20% in 2025, with strong momentum as allied nations invest in enhancing their national security capabilities [14] - The company received formal requests to acquire IBCS from over 20 countries, indicating robust global demand for its technology [15] - The U.S. defense budget recommendation of $1.5 trillion for FY 2027 suggests potential historic growth in defense spending [13] Company Strategy and Development Direction - The company is focused on capital deployment to prioritize investments in value-creating growth opportunities, aligning its portfolio with customer demand signals [4] - The strategy includes transforming Northrop Grumman to meet customer needs more quickly, balancing performance with affordability and speed to market [35] - Investments are being made to expand production capacity, particularly in munitions and solid rocket motors, to meet increasing demand [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued solid growth, supported by a talented engineering team and a portfolio aligned with customer needs [6] - The company anticipates sales growth in 2026 to be between $43.5 billion and $44 billion, representing mid-single-digit growth [23] - Management highlighted the importance of maintaining operational excellence and margin expansion through cost efficiencies and operational leverage [24] Other Important Information - The company plans to increase capital expenditures in 2026 to $1.65 billion, approximately 4% of total sales, to enhance production capacity [28] - The new CFO, John Green, is expected to drive growth and operational excellence, succeeding Ken Crews [17] Q&A Session Summary Question: Transformation of Northrop Grumman - Management discussed the transformation strategy to meet customer needs more quickly, emphasizing the balance between performance and affordability [35] Question: Opportunities for Acceleration in 2026 - Management indicated that while there are significant opportunities for growth, the guidance reflects a balanced approach based on clear funding and backlog [39][40] Question: Backlog and Revenue Conversion - Management acknowledged the strong backlog but noted that translating it into revenue depends on the timing of contract awards [46][47] Question: Dividend and Buyback Plans - The company plans to keep the share count flat and focus on capital investments rather than executing additional buybacks beyond January [59] Question: Supply Chain Investments - Management confirmed that they are partnering with the supply chain for capacity expansion and addressing shortages in raw materials [60] Question: International Growth Expectations - Management expects 2026 to be a strong year for international awards, particularly for IBCS, with several contracts anticipated [95]

Core Viewpoint - Halliburton Company is positioned to capitalize on potential drilling opportunities in Venezuela, which may be highlighted in its upcoming fourth-quarter financial results [1][4]. Group 1: Earnings Estimates - Analysts expect Halliburton to report fourth-quarter revenue of $5.41 billion, a decrease from $5.61 billion in the same quarter last year [2]. - The anticipated earnings per share for the fourth quarter is 55 cents, down from 70 cents per share in the previous year [2]. - Halliburton has beaten revenue estimates in three consecutive quarters, but only in four of the last ten quarters overall [2]. Group 2: Analyst Ratings and Price Targets - Following a strong performance in the third quarter, analysts have raised their price targets for Halliburton [4]. - Recent analyst ratings include: - Piper Sandler: Neutral rating, price target raised from $29 to $30 [8]. - TD Cowen: Buy rating, price target raised from $38 to $39 [8]. - Susquehanna: Positive rating, price target raised from $29 to $36 [8]. - Evercore ISI Group: Downgraded from Outperform to In-Line, price target raised from $28 to $35 [8]. Group 3: Key Items to Watch - The earnings report will be closely watched for insights on Halliburton's potential involvement in Venezuela's oil drilling opportunities, especially in light of recent military actions [4][5]. - The company reported a 5% increase in North America segment revenue quarter-over-quarter, while international segment revenue remained flat [6]. - CEO Jeff Miller emphasized investments in differentiated technologies aimed at driving long-term performance, which may be discussed in the earnings report [6].

Core Insights - e.l.f. Beauty has launched its products in the Gulf Cooperation Council (GCC) region, partnering exclusively with Sephora to enhance its international presence [1][3] - The GCC is identified as the most requested region for e.l.f. products among areas without retail presence, with social media mentions increasing by 38% [2] - The launch includes a marketing campaign titled 'eyes.lips.finally' aimed at engaging the local community and promoting e.l.f.'s commitment to quality and affordability [2][3] Company Expansion - e.l.f. Beauty's non-U.S. sales accounted for approximately 20% of total net sales in the second quarter of FY26, indicating a strong international growth strategy [4] - The partnership with Sephora, which began in 2024 with a launch in Mexico, will see e.l.f. products available in all 70 Sephora stores across the GCC starting November 21 [3] Marketing Strategy - e.l.f. is utilizing high-visibility marketing tactics in the GCC, including outdoor advertising along Dubai's Golden Boulevard and digital screen takeovers in major malls [2] - The company aims to connect with the community through its marketing efforts, emphasizing its mission to make beauty accessible to everyone [5]