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The Hill
4 hours ago
- The Hill
Navarro on jobs report: ‘It's either incompetence or political interference'
White House trade adviser Peter Navarro on Friday slammed the Bureau of Labor Statistics (BLS) for a series of reports on job growth he deemed inaccurate. The longtime Trump adviser said the BLS had an 'unsettling pattern' of presenting the public with the wrong information. 'The BLS doesn't seem to be able to get that jobs number right. This has been going on for over a year,' Navarro said during a Friday appearance on NewsNation's 'The Hill.' 'It's either incompetence or political interference, either way ahead, roll today, and that's appropriate, because this simply isn't right,' he told anchor Blake Burman. The BLS reported that 73,000 jobs were created last month after correcting May's report to reflect the creation of 19,000 jobs compared to an initial report of 144,000. The Bureau also corrected the number from June to 14,000 job adds after an initial report of 147,000. President Trump on Thursday fired BLS Commissioner Erika McEntarfer, alleging she inflated job reports for the Biden administration ahead of the 2024 election. He said she 'faked the Jobs Numbers before the Election to try and boost Kamala's chances of Victory.' 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can't be manipulated for political purposes,' Trump in a Friday Truth Social post. Navarro told Burman on Friday that Trump's move was 'healthy.' The BLS did not immediately respond to The Hill's request for comment. The bureau often revises jobs report, but the scale of Friday's changes surprised experts. Navarro, in his Friday interview, said the revisions cost the Fed much needed inflationary cuts, which held rates steady on Wednesday. 'It's is that if we had gotten that data when, when we should have got that data, the Federal Reserve yesterday would have lowered interest rates by at least 50 basis points. So you think so kind of incompetence or political no question about it,' Navarro told Burman. 'I mean, look, you had three months that were two months that revised significantly downward, one which was lower than expectations. I mean, the Fed, that's a completely different picture. I mean, there was a strong case for a 50 day there's an overwhelming case for a 50 basis point cut,' he added. Trump and his allies have pushed Fed Chair Jerome Powell to lower interest rates to reset the economy for months. The president has threatened to fire Powell who has refused to shift course under pressure. 'The Economy is BOOMING under 'TRUMP' despite a Fed that also plays games, this time with Interest Rates, where they lowered them twice, and substantially, just before the Presidential Election, I assume in the hopes of getting 'Kamala' elected – How did that work out?' Trump wrote on Friday. 'Jerome 'Too Late' Powell should also be put 'out to pasture.; Thank you for your attention to this matter,' he added. Later in the day, he walked back his stance when Newsmax's Rob Finnerty asked if the Fed chair would remain in place for now during an interview. 'Well, it's very disruptive if you fire,' he told him. 'So, I would say most likely, yeah.'
Yahoo
5 hours ago
- Yahoo
An Army Contract Fueled Red Cat Stock's 911% Surge in 13 Months: Is RCAT Still a Buy?
Red Cat Holdings Inc. (RCAT) has stunned investors with an extraordinary 911% stock price surge over the past 13 months, trading at $8.19 as of July 31, 2025. This dramatic rise coincides with a string of transformative milestones, chief among them a major U.S. Army contract to supply cutting-edge reconnaissance drones — a catalyst that's redefining both the company's fortunes and its outlook in the defense sector. Just about 13 months ago, on June 7, RCAT was a penny stock trading at $0.81. This turnaround and continued growth show the incredible momentum and potential of the stock. More News from Barchart Morgan Stanley Says Nvidia Has 'Exceptional' Strength. Should You Buy NVDA Stock Here? With UnitedHealth Under DOJ Investigation, Should You Buy, Sell, or Hold UNH Stock Now? As Trump Says He Wants Tesla to 'THRIVE,' How Should You Play TSLA Stock? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Why RCAT Stock Soared: The Army's SRR Contract The breakthrough came as Red Cat was chosen for the U.S. Army's prestigious Short Range Reconnaissance (SRR) program. Under this multi-year deal, the Army could acquire up to 5,880 Black Widow drones — small, advanced, reconnaissance-focused systems built by the company's subsidiary Teal Drones and listed on the Pentagon's Blue UAS procurement roster. This certification both validates Red Cat's technology and opens the door for federal agency sales, giving it a crucial edge over rivals. The SRR contract is set to be a game-changer for Red Cat's top line, with management projecting 2025 revenues between $80 million and $120 million, compared to just $1.63 million reported for the quarter ending March 31, 2025. SRR-related sales alone are expected to contribute $25–65 million to FY2025 revenue, with additional growth from ongoing Black Widow, Edge 130 VTOL drone, and FANG drone sales — all supported by growing government orders. Multi-Domain Growth and Operational Momentum Red Cat is fortifying its position through a diversified product portfolio covering aerial and soon maritime (unmanned surface vessel) platforms, significantly lowering reliance on any single contract. Key manufacturing partnerships, like with Empirical Systems Aerospace (ESAero) — an AS9100-certified defense supplier — ensure production quality and scalability. To streamline operations and ramp up output, Red Cat is deploying advanced software solutions from Palantir Technologies (PLTR). This includes Warp Speed (for supply chain optimization) and VNav (for drone autonomy in GPS-denied environments), bolstering both performance and strategic value to military buyers. The company's strong cash position — boosted by over $75 million raised through equity offerings in April and June 2025 — guarantees the resources needed for rapid scale-up and timely fulfillment of large backlogs. Market Disconnect and High Short Interest Despite these fundamentals, RCAT shares have experienced volatile swings, with a 52-week high of $15.27 and low of $1.66, leaving the current valuation below some analyst forecasts. The stock's short interest recently topped 15.86 million shares, which accounts for over 20% of the public float, and sets up the potential for a significant short squeeze if the company continues to exceed expectations. Analyst sentiment remains firmly bullish, with a consensus 12-month target price of $13.00 — a roughly 55% upside from current levels. The disconnect between Red Cat's operational progress and its share price presents a compelling opportunity for investors able to look past short-term volatility. Are New Highs Coming? Red Cat Holdings' extraordinary 911% gain in just over a year is powered by structural shifts in the defense drone market and a landmark Army contract. With robust financial backing, scalable production, and a multi-domain strategy, Red Cat is poised for continued high growth as U.S. military and agency adoption of unmanned systems accelerates. Should the company deliver on its ambitious projections, the coming quarters could see further upward pressure on RCAT's already surging shares Red Cat vs. the Competition Red Cat distinguishes itself in the defense drone sector by focusing on tactical reconnaissance drones and integrating advanced software partnerships (notably with Palantir) to enhance both manufacturing and drone autonomy. Its military contracts have resulted in a clear turning point for the stock. Compared to peers like Unusual Machines (UMAC), DroneShield (DRSHF), and Draganfly (DPRO), Red Cat stands out for its agility, U.S.-centric supply chain, and rapid revenue growth from breakout military orders, while many larger rivals spread efforts across broader product lines and geographies. Some direct competitors, such as AvePoint, have higher revenue, but trade at lower valuations and lack the same near-term growth catalysts tied to U.S. defense spending. Red Cat does face significant operational scaling risks and remains unprofitable, but its focused product strategy, robust partnerships, and recent fundraising leave it better positioned for upside than many in the sector, as long as execution remains strong. RCAT vs. Unusual Machines Unusual Machines has rapidly emerged as a high-upside player in the U.S. drone sector, gaining 40% in a single trading session after the Pentagon announced a sweeping initiative to ramp up domestic drone production. UMAC has now gained 422% over the past 12 months. The company focuses on manufacturing and distributing U.S.-made drone components and complete systems, aiming to serve both consumer and defense markets with NDAA-compliant offerings. Recent strategic acquisitions — such as Rotor Lab Pty Ltd for high-performance motors — and a $48.5 million capital raise have underpinned its expansion, including the launch of a 17,000-square-foot manufacturing hub in Orlando. Unusual Machines' strengths are agility, dual sourcing options, and a focus on supplying critical components listed on the Pentagon's Blue UAS Framework, positioning it for major new procurement cycles and growing institutional interest. However, as a small-cap firm competing with much larger defense contractors, it carries significant execution and volatility risks, as is typical for early-stage industry disruptors. Notably, however, it does have a valuation that is only a fraction of RCAT, sitting around $285 million to Red Cat's $840 million. But it also has substantially less revenue and fewer growth prospects, meaning Red Cat is likely sitting as a better play overall. RCAT vs. DroneShield DroneShield, based in Australia and listed on the ASX, specializes in counter-drone (C-UAS) technologies designed to detect, track, and neutralize hostile unmanned systems. Its product suite — including the DroneGun, DroneSentry, and radar/electronic warfare integrations — serves military, government, and critical infrastructure clients worldwide. DroneShield has seen substantial demand growth due to the escalating prevalence of drone threats in both military and civilian contexts, leading to robust order flow from NATO countries, Asia-Pacific clients, and U.S. agencies. Revenue expansion and new contract wins have underlined its strong international footprint, and its established partnerships with defense organizations set it apart as a major global supplier in the C-UAS space. Still, its business remains exposed to the episodic nature of government procurement and technological arms races in the drone sector. DroneShield isn't a direct competitor, but it does highlight the ongoing growth and demand of the sector. DroneShield is a little over twice the size of Red Cat, but is seeing similarly massive growth and achieved profitability in its most recent quarter. RCAT vs. Draganfly Draganfly, a U.S.-listed company, designs and manufactures advanced drone platforms, sensors, and data analytics solutions for public safety, agriculture, industrial inspections, and defense applications. Known for its proprietary payloads and turnkey UAV systems, Draganfly is attempting to differentiate itself with custom engineering and a focus on regulatory compliance for security-sensitive missions. It is winning small- to mid-scale contracts and developing partnerships with North American agencies and the Ukrainian government, leveraging its capacity to rapidly deploy drones in crisis zones. Draganfly's challenges include intense competition from legacy aerospace firms and a relatively small revenue base, though it is targeting rapid organic and acquisition-driven expansion to capture a greater share of the burgeoning commercial and tactical drone market. Unlike others on this list, Draganfly hasn't received nearly the same hype or momentum. In recent months, DPRO has delivered only modest gains. Given its smaller footprint and lack of overall momentum, it's likely the least compelling on this list. On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
New York Post
5 hours ago
- New York Post
JD Vance ‘obsessed' with UFOs, says he plans to get ‘to the bottom' of mystery sightings
Take me to your leader! Vice President JD Vance made it known that he is 'obsessed' with and 'particularly focused' on UFOs — announcing on a recent podcast that he will spend time in the next weeks looking into the subject matter. 'Like I'm obsessed with the whole UFO thing. 'What's actually going on?' 'What were those videos all about?' 'What's actually happening?'' the veep stated in unprompted comments on the Ruthless Podcast episode released Friday. 3 Vice President JD Vance with Ruthless Podcast cohost Josh Holmes. Disclosure Diaries, /X 'I haven't gotten to the bottom of it yet but we're only six months in, we've been very busy,' Vance said with a chuckle. 'The August recess is in part me gonna try to dive to the bottom of the whole UFO thing from last year.' It is unclear whether the Ohio native was referring to the New Jersey drone phenomenon that began on Nov. 13 last year with sightings of unidentified aircraft reportedly the size of cars hovering over a Picatinny Arsenal. 3 Vance stated he would 'dive to the bottom' of the UFO issue during congress' August recess. ktsdesign – The Trump administration cited the Federal Aviation Administration in a report earlier this year that stated the agency had no record of any anomalous sightings during the period of heightened public attention. Ruthless Podcast cohost Michael Duncan then opened up about his own interest in the once-taboo subject matter. 'I've been to Roswell,' Duncan confessed. 'I've done the tours. I've done the whole thing.' 'Did you see any aliens?' Vance asked. 'No. I saw the hangar where they were,' Duncan responded sincerely. 3 The casual conversation brought out laughs, especially here, where Duncan claimed alien bodies were stored at a hangar in Area 51. Disclosure Diaries, /X 'Once I get to the bottom of it, if there's anything there, I'll make sure you're the first to know,' Vance replied. It is unclear the extent to which Vance was joking in the casual conversation. Another member of the Trump administration, Secretary of State Marco Rubio, takes UFOs very seriously. Then-senator Rubio claimed top US officials have 'first-hand knowledge' of a secret Pentagon crash retrieval program back in a 2023 interview with NewsNation. Rubio sat down for an interview for upcoming documentary 'Age of Disclosure' which has been much ballyhooed by disclosure advocates. The VP's office did not respond to The Post's request for comment.
