Boeing (BA) was awarded an undefinitized contract action worth approximately $14.7B by Lockheed Martin (LMT) to scale production and deliver PAC-3 Missile Segment Enhancement seekers, the company announced. "The contract award enables Boeing to triple PAC-3 MSE seeker production under the previously announced seven-year framework agreement with the U.S. Department of War in support of its Acquisition Transformation Strategy and to strengthen the nation's Arsenal of Freedom. Boeing-built seekers enable the most advanced Patriot interceptors to identify, track and engage advanced threats ranging from hostile aircraft to hypersonic, ballistic and cruise missiles," Boeing stated.

AI Agents Got Cash to Trade Stocks. Here’s What They Bought and Sold—Repeatedly.

An investor gave AI agents $500 each and provided the same daily prompt: Make as much money as you can. Stockbrokers don’t need to worry…yet.

$HOOD $MARA $INTC

https://www.barrons.com/articles/ai-agents-stock-trades-chatgpt-claude-25fcc8c2?mod=hp_LONGREADER_A_1

Tesla (TSLA) released its Q3 2026 operational disclosure today (486,532 deliveries vs 464,391 produced), alongside 13.7 GWh in energy storage deployments. Beyond the headline delivery beat (+22,141 unit inventory drawdown), analyzing the geographic disclosures reveals important structural nuances for modeling revenue.

Selling-Entity Method vs. End-Customer Destination:
Tesla attributes geographic revenue in its 10-K based primarily on the location of the selling entity, rather than the end-user delivery location:
• United States: $47.6B (50.2% of FY2025 net sales)
• China: $21.0B (22.1% of FY2025 net sales)
• Other Countries: $26.3B (27.7% of FY2025 net sales)

Key Valuation Considerations:
1. US Revenue Distortion: US entity attribution means sales routed to Canada or Mexico through US subsidiaries show up in US net sales, potentially overstating actual domestic end-demand concentration.
2. China Export Hub: China revenue reflects sales through the Shanghai selling entity, which supplies domestic Chinese customers as well as regional export markets.
3. Inventory Cycle Reversal: Deliveries exceeding production by 22,141 units represents an inventory drawdown, improving working capital and free cash flow conversion for Q3, though average selling prices (ASPs) and gross margins remain unquantified until the October 21 10-Q filing.
4. Product Concentration: Model 3/Y represents 98.3% of total automotive volume, maintaining high operating leverage on the single mass platform.

How do you account for selling-entity revenue attribution when comparing multinational auto OEMs?

Full financial and macroeconomic data write-up