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Space company Rocket Lab briefly caught its Electron rocket using a helicopter after a launch for the first time on Monday.
“After the catch the helicopter pilot noticed different load characteristics than we’ve experienced in testing … at his discretion, the pilot offloaded the [booster] for a successful splashdown where it has been recovered by our [ship] for transport back to our factory,” Rocket Lab senior communications advisor Murielle Baker said on the company’s webcast.
Catching the rocket booster with Rocket Lab’s Sikorsky S-92 helicopter and returning it was the secondary goal of the mission.

The Electron booster comes into view of the company’s helicopter for the catch.
Rocket Lab

Space company Rocket Lab briefly caught its Electron rocket using a helicopter after a launch for the first time on Monday, but released the booster and dropped it into the ocean before recovering it.
“After the catch the helicopter pilot noticed different load characteristics than we’ve experienced in testing … at his discretion, the pilot offloaded the [booster] for a successful splashdown where it has been recovered by our [ship] for transport back to our factory,” Rocket Lab senior communications advisor Murielle Baker said on the company’s webcast.

“The [Electron booster] is in great condition though, and we look forward to assessing it in detail when it’s back here in the factory,” Baker added. “This is a monumental step forward in our program to make electron a reusable launch vehicle.”
The company’s Electron rocket launched from Rocket Lab’s private launch facility in New Zealand. Catching the rocket booster with Rocket Lab’s Sikorsky S-92 helicopter and returning it was the secondary goal of the mission.
The primary goal of the mission was achieved, with the rocket deploying 34 small satellites into low Earth orbit for a collection of customers, including Alba Orbital, Astrix Astronautics, Aurora Propulsion Technologies, E-Space, Spaceflight Inc. and Unseenlabs.

The company’s Electron rocket stands on its launchpad in New Zealand
Rocket Lab

Rocket Lab wants to make its rocket boosters reusable, like those of Elon Musk’s SpaceX, but with a very different approach. While SpaceX uses the rocket’s engines to slow down during reentry and deploys wide legs to land on large pads, Rocket Lab uses the atmosphere to slow the rocket before deploying a parachute and attempt to grab it with a helicopter.
The company conducted a variety of tests over the last couple years as it worked on the midair recovery concept. Rocket Lab has successfully returned two rocket boosters after its most recent launches, navigating them back through the intense reentry of the Earth’s atmosphere and splashing them down in the Pacific Ocean.

By adding reusability to its boosters, Rocket Lab would both be able to launch more often while simultaneously decreasing the material cost of each mission.
“I think anybody who’s not developing a reusable launch vehicle at this point in time is developing a dead-end product because it’s just so obvious that this is a fundamental approach that has to be baked in from day one,” Rocket Lab CEO Peter Beck said in November.

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Mike Cannon-Brookes, co-founder and co-CEO of collaboration software company Atlassian, said Australian utility AGL Energy’s plan to split into two companies would still leave one depending on coal.
Cannon-Brookes and his wife, Annie, committed to spending $1.5 billion on climate causes by 2030.

Atlassian Co-CEO Mike Cannon-Brookes poses for a photo with Utah Jazz co-owners, Dwyane Wade and Ryan Smith during Round 1 Game 3 of the NBA Playoffs on April 21, 2022 at vivint.SmartHome Arena in Salt Lake City, Utah.
Melissa Majchrzak | National Basketball Association | Getty Images

Atlassian Co-CEO Mike Cannon-Brookes has taken an 11% stake in Australia’s most prominent utility companies, AGL Energy, in an effort to force it to burn less coal, a major contributor to climate change.
The Australian software billionaire, who became a part owner of the United States’ Utah Jazz basketball team in 2020, bought the stake through his private investment group Grok Ventures. He’s now the largest single holder in the company.

Cannon-Brookes has spoken out about threats from climate change, and is now acting on his concerns after the company rejected a previous takeover bid from him and other investors.
The new campaign aims to stop AGL’s proposed split into two companies: Energy retailer AGL Australia and electricity generator Accel Energy. AGL Energy Chairman Peter Botten wrote in a letter to investors that the split would help Australia’s energy system responsibly move toward decarbonization and create value over the long term.
Cannon-Brookes doesn’t share that view.
“The demerger makes no sense, or cents. We believe it destroys value for everyone — shareholders, employees, Australia and the planet,” he wrote in a tweet on Monday. He urged other AGL Energy investors to vote against the proposal.
He elaborated on his position in a letter to AGL Energy’s board.

“Under the demerger proposal, AGL A [Australia] will continue to source a majority of its energy from Accel Energy, which today generates electricity with 50% higher emissions intensity than the rest of the grid,” he wrote. “We believe this exposure to coal-fired power generation is inconsistent with your proposal that AGL A [Australia] will be a leader in sustainability.”
Cannon-Brookes and his friend from the University of New South Wales, Scott Farquhar, founded Atlassian in 2002. The collaboration-software maker went public in 2015, and with revenue growth rates typically above the 30% mark, the stock became a favorite among growth investors.

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Growth software companies, particularly those that typically lose money like Atlassian, have lost their sheen in recent months as interest rates increase.
But Cannon-Brookes remains one of the world’s wealthiest people. He and Farquhar each own 19% of Atlassian’s outstanding Class A shares, which are worth a combined $25 billion.
In October, Cannon-Brookes and his wife, Annie, made a “green pledge,” committing to spend over $1.5 billion on climate initiatives by 2030. Grok Ventures has invested in renewable energy company Sun Cable, which is developing infrastructure to store solar power in Australia and move it to Singapore. Grok Ventures also backed WeaveGrid, a San Francisco-based electric-vehicle software start-up.
AGL Energy said on Monday that its coal-fired Loy Yang A power plant in southern Australia went out of service on April 15 because of a generator fault and might not return to service until August, lowering full-year profit expectations.
“Far from leaning into opportunities, splitting it [AGL Energy] puts further pressure on struggling coal generators. We’re seeing this today with Loy Yang A,” Cannon-Brookes wrote in a tweet.
WATCH: National Grid CEO on the road to “net zero” and fossil-free heat in the Northeastern U.S.

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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Last month was the third-hottest April the country has seen over the past 122 years, from 1901 to 2022, according to government officials, and March was the hottest ever recorded.
The heat wave is particularly notable for its early onset and the large geographic region affected.
While climate change is expected to make heat waves like this more common, they are often a response to multiple specific factors, including ocean events in the Pacific and Atlantic, and local weather patterns resulting from dry soil because of limited rainfall.

People outside holding an umbrella during hot summer day in Kolkata, West Bengal, India on April 26. The temperature in Kolkata was around 40°c.
Pacific Press | Lightrocket | Getty Images

India has been suffering under record-breaking heat for the last couple months.
Last month was the third-hottest April the country has seen over the past 122 years, from 1901 to 2022, according to government officials.

The average maximum temperature was 35.30 degrees Celsius (95.5 degrees Fahrenheit), coming in just behind 35.42 degrees Celsius (95.8 degrees Fahrenheit) in 2010 and 35.32 degrees Celsius (95.6 degrees Fahrenheit) in 2016, the Indian government said in a statement on Monday. That’s more than a degree hotter than the average max temperature in April between the years 1981 and 2010, which was 33.94 degrees Celsius (93.1 degrees Fahrenheit).

Air-coolers for sale in New Delhi, India, on Saturday, April 30, 2022. India is experiencing a heat wave, with the countrys average temperature reaching almost 92 degrees Fahrenheit (33 degrees Celsius) in March, the highest on record for the month since authorities started collecting the data in 1901.
Anindito Mukherjee | Bloomberg | Getty Images

The average maximum temperature recorded in March was 33.10 degrees Celsius (91.6 degrees Fahrenheit), which is the highest average maximum in the past 122 years, and just a smidge higher than the previous record high recorded in March 2010. It’s almost two degrees hotter than average maximum temperature in March between the years 1981 and 2010, which was 31.24 degrees Celsius (88.2 degrees Fahrenheit).
What’s particularly notable is the early onset of the heat wave, according to Arpita Mondal, a professor of climate studies at the Indian Institute of Technology. The expected timing of a heat wave like this is May and June, Modal told CNBC. It’s also affecting a notably large geographic region, Mondal said.

Residents fill water from a Delhi Municipal Corp. truck in New Delhi, India, on Saturday, April 30, 2022.
Anindito Mukherjee | Bloomberg | Getty Images

The length and geographic size of the heat wave are what’s notable to Zachary Zobel, an assistant scientist at the Woodwell Climate Research Center. “The most shocking part for me has been the geographical extent and the duration,” Zobel told CNBC. “Yes, this heat wave occurring in April is also alarming since May and June are typically the hottest months for India, but the size and length of these heat waves are what has surprised me the most.” 
Human-caused climate change is likely to make heat waves hotter, longer, and more common, according to the National Academies of Sciences, Engineering, and Medicine.

“The scientific community has overwhelming evidence that climate change is causing the distributions of temperature to shift by changing the ‘normal’ state, and shift in distributions would mean more and more chances of extremes,” Mondal told CNBC.

A farmer pours water on himself while working at a wheat farm in the Ludhiana district of Punjab, India, on Sunday, May 1, 2022.
T. Narayan | Bloomberg | Getty Images

And regions of the globe being hit by this heat wave are likely to be vulnerable to more heat waves in the future, Zobel said. “There is no question that heat waves are made worse by fossil fuels and climate change everywhere in the globe,” he told CNBC. “India and Pakistan are two of the hottest places in the world and will likely continue to see heat waves of this magnitude and worse over the next several decades.”
That said, more research is needed to fully understand the cause of and future implications of this heat wave, according to Mondal. Heat waves are often a response to multiple specific factors, including, for example, ocean events in the Pacific and Atlantic and local weather patterns resulting from dry soil because of limited rainfall, she said.
Northwest and Central India are due for thunderstorms which should being some relief from the record-setting heat wave that has been blanketing much of the country in recent months. Temperatures are expected to drop by several degrees.

A man is seen drinking water to relieve himself of summer heat , at a street side in Kolkata, India, on 29 April 2022.
Debarchan Chatterjee | Nurphoto | Getty Images

Other regions aren’t expected to see much relief in the short term. Gujarat and Maharashtra, in the western part of the country, are expected to have “no significant change” in their maximum temperatures over the next two days and then see their maximum temperatures go up by about 2 degrees Celsius (3.6 degrees Fahrenheit), the Indian meteorological department said on Monday.

A old age women puts water on his face to get relief from extreme heat during hot weather, Kolkata Maximum Temperature In Kolkata Likely To Touch 40 Degrees on April 26,2022.
Debajyoti Chakraborty | Nurphoto | Getty Images

To deal with the heat, the Indian meteorological society advised people to avoid direct heat exposure and to stay hydrated. “Drink sufficient water — even if not thirsty,” a written statement from the organization published on Sunday recommended.
“Wear lightweight, light-colored, loose, cotton clothes and cover the head by use of cloth, hat or umbrella,” the Indian government recommended.
Much of India is expected to continue to suffer under high temperatures in May, the government’s meteorological department said. “Above normal minimum temperatures are likely over most parts of northwest, central, east and northeast India,” the monthly forward-looking outlook, which was published on Saturday, says.

A man carry a pedestrial fan amid heatwave in Kolkata, India, 26 April, 2022.
Indranil Aditya | Nurphoto | Getty Images

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U.S. stock futures moved lower Monday night after the major averages staged a big reversal to start the month.
Dow Jones Industrial Average futures fell 57 points, or 0.2%. S&P 500 and Nasdaq 100 futures dipped 0.2% and 0.3%, respectively.

Earlier in the day, the major averages posted a wild up-and-down session with the Nasdaq Composite rising 1.63% in a late-day comeback, despite falling as much as 1.07% earlier in the day. The S&P 500 rose 0.57% after hitting a new 2022 low earlier in the session.
Meanwhile, the Dow Jones Industrial Average gained 84 points, or 0.26%. At its session lows, the Dow was down more than 400 points.
Those moves come on the back of a brutal month in April for stocks. April was the worst month since March 2020 for the Dow and S&P 500. It was the worst month for the Nasdaq since 2008.
The benchmark 10-year Treasury yield also climbed to a new milestone on Monday. The bond yield hit 3.01% during the session, its highest point since December 2018.
“I think it’s really hard to try to pick bottoms in the market or pick tops in the market,” Tim Lesko, director and senior wealth advisor at Mariner Wealth Advisors, said Monday on CNBC’s “Closing Bell.” “I think what we’re seeing is that in the long run, we’ve got a very high allocation to stocks, people are starting to rebalance and there’s some competition for stock now in the marketplace.”

Wall Street is largely expecting interest rates to be raised 50 basis points at the Federal Reserve meeting this week. Some investors believe expectations of aggressive monetary tightening from the central bank are already priced into markets.
“With financial conditionings tightening as they are, we think the Fed is going to be slightly more dovish than the market is expecting,” Eric Johnston, head of equity derivatives and cross asset products at Cantor Fitzgerald, said Monday on CNBC’s “Closing Bell.”
The Federal Open Market Committee will issue a statement at 2 p.m. ET on Wednesday. Fed Chair Jerome Powell is expected to hold a press conference at 2:30 p.m.
A number of consumer-oriented companies are still reporting earnings this week. Shares of Avis Budget jumped more than 6% during extended trading after the car company surpassed earnings expectations on the top and bottom lines. Pent-up travel demand spurred investors to rent cars from Avis Budget despite higher prices.
Chegg’s stock price tumbled nearly 30% during extended trade after the textbook company issued weak guidance for the full year despite exceeding earnings expectations.
Restaurant Brands International, Pfizer and Paramount Global are set to report earnings before the bell on Tuesday. Airbnb, AMD, Lyft and Starbucks are expected to report earnings after the bell the same day.
Traders will also watch for the latest reading of the Job Openings and Labor Turnover (JOLTS) data that is expected at 10 a.m. ET on Tuesday. Data on auto sales for April is also expected on Tuesday.

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Best Buy CEO Corie Barry told CNBC’s Jim Cramer on Monday that she believes consumers will continue to seek out gaming and products related to it, even as in-person activities abound.
“I think this is about more than any one cycle. This is about continued, we believe, engagement in gaming across a multitude of platforms,” she said, adding that gaming computers are at the highest end of computers that Best Buy offers.

Best Buy CEO Corie Barry told CNBC’s Jim Cramer on Monday that she believes consumers will continue to seek out gaming and products related to it, even as in-person activities abound.
“Gaming is much bigger than any cycle. It is social, it is [virtual reality], it is console, it is computing. It is for fun, but it’s also in competition. Gaming, the definition of it, has expanded massively,” Barry said in an interview on “Mad Money.”

“This is about how we communicate amongst each other, especially how my kids — I watch them, that’s how they talk to their friends. And so, I think this is about more than any one cycle. This is about continued, we believe, engagement in gaming across a multitude of platforms,” she said, adding that gaming computers are at the highest end of computers that Best Buy offers.
Barry’s comments came after Cramer asked if the gaming cycle is “running its course.” While an uptick in omicron BA.2 cases in the U.S. has led some institutions to tighten Covid restrictions, many people are still opting to spend time out and about after being cooped up inside during the pandemic.
The chief executive, who spoke about her optimistic viewpoint on the future of home technology upgrade demand in her last “Mad Money” appearance, maintained her position on Monday.
“We believe the future, the way we live in almost every aspect, will be lived using technology. … This isn’t just about a want anymore, this is about a need and a way of living that fundamentally has changed faster than we ever thought in the last two years,” she said.
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Check out the companies making headlines after hours.
Chegg — Shares tumbled nearly 30% after the textbook company reported weak full-year guidance despite exceeding earnings expectations. In its most recent quarter, Chegg reported earnings of 32 cents per share on revenues of $202 million. Analysts surveyed by Refinitiv were expecting earnings of 24 cents per share on revenues of $201 million.

Clorox — Clorox’s stock price dipped about 1.9% after the maker of household products cut its full-year gross margin outlook on inflationary concerns. Clorox otherwise topped earnings expectations after reporting earnings of $1.31 per share on revenues of $1.81 billion. The company was expected to earn 97 cents per share on revenues of $1.79 billion, according to consensus estimates from Refinitiv.
Devon Energy — Shares jumped more than 2% after the company announced a dividend and buyback hike. The oil and gas company reported earnings of $1.88 per share and revenues of $3.8 billion for the quarter ending March. Analysts polled by FactSet were expecting earnings of $1.75 per share on revenues of $4 billion.
Avis Budget Group — The car company’s stock price soared nearly 7% after Avis Budget’s quarterly results surpassed analysts’ expectations. The company benefited from pent-up travel demand that spurred consumers to rent cars even at higher prices. Avis reported earnings of $9.99 per share on revenues of $2.4 billion. Analysts polled by Refinitiv were forecasting earnings of $3.45 per share on revenues of $2.08 billion.

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The first bids are in for the Denver Broncos. Walmart heir Rob Walton is considered a strong contender to buy the NFL team.
The sale price could end up at $4 billion or more, which would be the biggest in NFL history.
Interested parties are “strong, very successful business people” that are “serious about buying the team,” according to Marc Ganis, the CEO of consultancy SportsCorp, who is familiar with the process.

Cameron Fleming #73 of the Denver Broncos runs onto the field before a game against the Kansas City Chiefs at Empower Field at Mile High on January 8, 2022 in Denver, Colorado.
Dustin Bradford | Getty Images

The first bids are in for the Denver Broncos sale process, and vetting is under way. The NFL franchise could sell for $4 billion, which could be the most expensive transaction in the league’s history.
Former Walmart chairman and Walton family heir Rob Walton, who is worth roughly $68 billion, is considered a strong contender to buy the team. NBA and NHL owners Josh Harris and David Blitzer, who both hold minority stakes in the Pittsburgh Steelers, are also interested, according to people familiar with the sale.

Even a decentralized autonomous organization, or DAO, consisting of crypto enthusiasts is interested and raising money to cover cost.
The sale would be big by any standard in sports. The Broncos are owned by the Pat Bowlen Trust and are valued at $3.7 billion, according to Forbes. That’s ranked 10th in the NFL. If the team is sold at the projected $4 billion price tag, it will eclipse Alibaba co-founder Joe Tsai’s $2.3 billion purchase of the NBA’s Brooklyn Nets in 2019. Hedge fund manager David Tepper purchased the NFL’s Carolina Panthers for $2.2 billion in 2018.
Elsewhere, Los Angeles Dodgers and Lakers co-owner Todd Boehly and British billionaire Jim Ratcliffe are competing for ownership of the English soccer club Chelsea FC. Last week, Boehly was approved to enter exclusive talks to buy the club from Russian billionaire Roman Abramovich, according to The Wall Street Journal. But INEOS, the chemical company for which Ratcliffe is the chairman, released a statement that said he’s offering more than $5 billion for the club.
Sports bankers estimate the auction for the Broncos could fetch a new record for the NFL. Team valuations are often inflated and largely hypothetical — barring formal and public sales. Pundits use multiples of revenue and add in operating income, adjusted for revenue sharing, and any other assets tied to the club that could include real estate to arrive at a number.
The sale could end up hitting the mid-$4 billion range, noting the city of Denver’s young demographics with its “tech, natural resources and tourism,” said Marc Ganis, the CEO of consultant firm SportsCorp. “It’s not a single-industry location which is something you look for when you buy a sports franchise.”

While the bidders aren’t publicly known, Ganis is familiar with the sale process and who’s looking at buying the Broncos. He said interested parties are “strong, very successful business people” that are “serious about buying the team.”

Inside the Broncos sale

The Broncos were officially placed on the market in February after years of legal disputes, including a family lawsuit in 2019. A month before the team went up for sale, a Denver judge ruled in favor of the Broncos and voided a right of first refusal issue with ROFR Holdings Ltd. – the company established by former team owner Edgar Kaiser. He sold a majority stake of the Broncos to Pat Bowlen in 1984 for a reported $78 million.
Under Bowlen’s ownership, the Broncos made seven Super Bowls and won three championships. He died in 2019 and bequeathed his roughly 78% stake in the team to the Pat Bowlen Trust.

Javonte Williams #33 of the Denver Broncos carries the ball against the Cincinnati Bengals at Empower Field At Mile High on December 19, 2021 in Denver, Colorado.
Matthew Stockman | Getty Images

Ganis said the city offers a “location premium” as the area attracts wealthy individuals who like to ski. “Never underestimate the value of having a team in a location that’s either a very quick flight or a place that you’d go to anyway,” he said.
Should the Bowlen family secure $4 billion or more, it would likely increase values for other NFL teams. Denver-based NBCUniversal affiliate KUSA reported Bowlen’s seven children would split 78% of the final price. That amounts to more than $400 million each.
Broncos Chief Executive Joe Ellis said the team hopes to have a new owner in place by the 2022 NFL season. At the NFL annual meetings in March, Ellis is quoted by the Denver Post as saying there’s a “significant amount of interest from a number of very qualified bidders.”
The Broncos and investment firm Allen and Company did not immediately return a CNBC request to discuss the transaction.

Rob Walton
Beth Hall | Bloomberg | Getty Images

What would Walton add?

Last month, the New York Post reported Walton would make a bid. Walton is linked to Los Angeles Rams owner Stan Kroenke, who married his cousin Ann Walton Kroenke. Ganis said Walton becoming an owner would be “major validation” for the NFL’s business model.
“These are people that can buy anything they want and this is where they choose to put their money,” said Ganis. “It’s a validation that it’s a good business for top business people to be in.”
Though inflation is high, investors are still interested in purchasing sports franchises, said economist Judd Cramer. He called owning a pro team a “real asset” because, traditionally, clubs increase value annually.
And inflation increases the “the cost of having money not invested in real assets,” said Cramer, who served in former President Barack Obama’s administration.

Robert Smith, Vistas Equity Partners, Founder, Chairman & CEO
Adam Galica | CNBC

A Black NFL owner remains elusive

Vista Equity Partners CEO Robert F. Smith was speculated to be a bidder for the Broncos. He has a net worth of $8.9 billion, according to Bloomberg. But Smith, a Colorado native, is adamant that he’s not interested.
In a statement to CNBC, Vista Partners said: “Robert’s priorities right now are on the fight for voting rights and economic justice rather than being a Black owner of a team. He continues to be most focused on how he can best help underserved communities gain access to capital, healthcare, education, and the ballot box. Pursuing ownership of the Broncos is not on his radar.”
The NFL is seeking a Black owner – that was made clear at this year’s Super Bowl in Los Angeles. NFL Commissioner Roger Goodell noted he’s “personally involved” in attracting more minority candidates to NFL ownership as the league has never had a Black owner in its over 100-year history. Goodell noted the NFL met with media mogul Byron Allen about purchasing an NFL team. It’s not clear where that stands, though.
The NFL’s finance committee, which Kansas City Chiefs owner Clark Hunt leads, will decide on bringing a selected bidder up for a vote. A candidate needs at least 24 votes from 32 NFL team owners.
The NFL declined to comment.

Russell Wilson #3 of the Seattle Seahawks at the 2019 NFL Pro Bowl
Mark Brown | Getty Images Sport | Getty Images

What’s a new owner getting?

A new ownership group could be walking into a playoff contender.
In March, the Broncos traded for Seattle Seahawks quarterback Russell Wilson. Before that, Denver hired a new head coach in Nathaniel Hackett – the former offensive coordinator for the Green Bay Packers.
On the business front, the Broncos made over $400 million in annual revenue since 2017, according to Forbes. That’s mainly due to the NFL’s media revenue sharing. The NFL pays teams more than $300 million each, annually, from its national revenue.
And that figure should increase as the NFL agreed to a new $100 billion media rights deal in March 2021. Its Sunday Ticket media rights are on the market for more than $2 billion annually, and the NFL increased annual sponsorship money to $2 billion.
The new Broncos owner will need to invest in the team’s playing site, though.
Empower Field at Mile High was built in 2001, cost $400 million, and holds around 76,000 people for NFL games. Ganis said the complex could use “significant upgrades” as it’s not up to date when compared to with newer NFL stadiums.

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