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RTX's Blue Canyon Technologies Increases Reaction Wheel Production Capacity

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RTX (RTX) said Tuesday its small satellite manufacturer Blue Canyon Technologies is increasing reaction wheel production capacity amid growing demand for spacecraft subsystems and components.

Blue Canyon Technologies has allocated more than $1 million to expand production capability to 2,400 reaction wheels per year from 650 wheels.

Reaction wheels use motor-driven torque to control spacecraft movements while on orbit without propulsion, according to RTX.

Price: $203.53, Change: $+2.12, Percent Change: +1.05%

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Revolution Medicines (RVMD) said late Monday it plans to offer $750 million of common stock and $250 million aggregate principal amount of convertible senior notes due 2033 in separate public offerings, subject to market and other conditions.The company expects to grant the underwriters a 30-day option to buy up to an additional $112.5 million of common stock and up to an additional $37.5 million principal amount of notes to cover over-allotments.Revolution Medicines said it plans to use net proceeds from both offerings for general corporate purposes.

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Top Cryptocurrencies Rise; Bitcoin Tops $73,000

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Sector Update: Energy

Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index down 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.3%.The Philadelphia Oil Service Sector Index added 0.5%, and the Dow Jones US Utilities Index was falling 1.5%.Front-month West Texas Intermediate crude oil was rising 1.1% to $97.65 a barrel, and the global benchmark Brent crude contract was advancing 3.2% to $97.65 a barrel. Henry Hub natural gas futures shed 0.7% to $2.63 per 1 million BTU.In corporate news, TotalEnergies (TTE) shares added 0.2% after it said Monday that it has signed a memorandum of understanding with Turkey's state energy company TPAO to pursue exploration opportunities.

$TTE