Northrop Grumman reported stronger-than-expected first-quarter 2026 results on April 21-22, with revenue of $9.88 billion (up about 4.4% year-on-year) and diluted EPS of $6.14, sharply higher than a year earlier. Aeronautics sales rose 17% to $3.28 billion, aided by B-21 program activity; Defense Systems organic sales climbed about 10% to roughly $1.9 billion. Net awards in the quarter totalled $9.8 billion and backlog stood near $96 billion. Management reaffirmed 2026 sales guidance of $43.5 billion to $44.0 billion and free cash flow guidance of $3.1 billion to $3.5 billion, while noting a first-quarter cash use of roughly $1.8 billion. The company has agreed with the U.S. Air Force to expand B-21 production capacity by 25% and accelerate the Sentinel ICBM replacement program; first B-21 delivery remains slated for 2027 and Sentinel first flight for 2027 with IOC in the early 2030s. Space Systems faced headwinds, including a $71 million GEM-63XL charge. Shares fell mid-single digits after the release; disclosures show ~$20.2 million of insider selling in recent months.

British consumer price inflation accelerated to 3.3% in the year to March, up from 3.0% in February, the Office for National Statistics said on April 22. The rise — the first official sign of the Iran war’s impact on the UK cost of living — was driven largely by an 8.7% month-on-month jump in motor fuel prices, the biggest monthly rise since June 2022. Transport costs, air fares and food also contributed; services inflation unexpectedly climbed to 4.5% while core inflation eased slightly to 3.1%. Producer input prices surged, signalling possible further pass-through to consumer prices. The data has complicated the Bank of England’s policy outlook: markets now see one or two rate rises possible this year, but most economists expect rates to be held at the April 30 meeting. Chancellor Rachel Reeves warned the conflict was “pushing up bills for families and businesses.” Forecasters including the IMF have lifted UK inflation forecasts, with some warning it could peak near 4% in coming months if energy supply disruption persists.

UnitedHealth Group reported stronger-than-expected first-quarter 2026 results on April 21, posting adjusted EPS of $7.23 and revenue of $111.72 billion, topping Street estimates. Net income was roughly $6.3 billion and the company raised full-year adjusted earnings guidance to greater than $18.25 per share from a prior target above $17.75. Management said the medical loss ratio improved to 83.9% from 84.8 a year earlier, helped by repricing, reserve development and operational actions. UnitedHealthcare revenue rose to $86.3 billion with operating income of about $5.7 billion, while Optum Health delivered $1.3 billion of adjusted earnings and management reiterated a long-term Optum Health margin target of 6–8%. Executives outlined continued AI and digital investments (about $1.5 billion planned for 2026), leadership changes, exits from select non-U.S. businesses, and measures to streamline prior authorization and digital access. The company signalled a resumption of buybacks (roughly $2 billion planned this quarter). Shares jumped about 9–10% intraday. Management cautioned that medical utilization remains elevated and that regulatory and Medicare Advantage dynamics remain important risks to the recovery.

SpaceX announced a partnership with AI coding startup Cursor that gives the rocket maker the right to acquire the company for $60 billion later this year or, if it declines to buy, to pay $10 billion for the collaborative work. The deal pairs Cursor’s developer-focused code-generation products with SpaceX’s Colossus training cluster — described by the company as the equivalent of roughly a million Nvidia H100 GPUs — and follows reports that xAI has been renting compute to Cursor and has hired senior Cursor engineers. Cursor, founded in 2022, has seen rapid valuation growth (from $2.5 billion in early 2025 to a $29.3 billion post-money valuation in November) and has been reported to be pursuing a new round near $50 billion. The announcement comes as SpaceX prepares a blockbuster IPO (reports have cited a target valuation around $1.75 trillion and up to $75 billion raised) and has filed an S-1 disclosing that its more speculative plans — including space-based AI data centres and lunar/Mars industrialisation — rely on unproven technologies and may not be commercially viable.

Halliburton reported first-quarter 2026 results on April 21, beating expectations with adjusted EPS of $0.55 versus $0.50 forecast and revenue of $5.40 billion. The company posted a 13% operating margin, $273 million of cash flow from operations and $123 million of free cash flow, and returned about $100 million to shareholders through buybacks plus a $0.17 dividend. Geopolitical disruption tied to the Iran war and the partial closure of the Strait of Hormuz reduced Q1 results by roughly $0.02–$0.03 per share and is expected to shave about $0.07–$0.09 from Q2 EPS as logistics costs and material prices rise. Regional performance was mixed: Middle East revenue fell about 12–13% to roughly $1.3 billion, North America revenue declined about 4% to $2.1 billion, while Latin America jumped ~22% to $1.1 billion and Europe & Africa rose ~11% to $858 million. Management kept 2026 capex near $1.1 billion and said international strength should offset Middle East weakness, with mid- to high-single-digit revenue growth expected outside the region. The stock rose roughly 4% on the news; analysts hold a consensus ‘moderate buy’ and insider selling of about $15.3 million was reported in recent months.