Diamonds and Dogs

12-2-22

Northrop Grumman (NOC) unveils a new secret B-21 bomber to the public. The stock is up 2% as the company will unveil the first of the stealthy, bat-winged jet where at least 100 of the new bombers will be assembled. Employment at Northrop Grumman's Antelope Valley sites has soared to more than 7,000 workers, double the population in 2015 when the company first won the bomber contract. The assembly line represents a boost to Southern California's flagging aerospace industry, which has declined from the heights reached during World War II, the space race and the Cold War.

Software firm, Asana (ASAN) down on earnings. The work management platform company is down 13% as earnings beat and sales rose 41% to $141.44 million, but guidance was mixed as customers particularly from the tech sector are cutting back on spending. Asana gets 25-30% of their revenue from the tech sector.