Also what is happening now is economic numbers. Consumer confidence coming in for the month of april. Julie hyman a rundown of that. From falling in april march to 96. 1. Economists were estimating. Durable goods orders earlier also coming in below estimates. So for those folks watching the fed, most people in the markets, this might give more fodder to the doves. In their statement tomorrow. Markets have increased, up by about one third of 1 . Earningse watching very closely. About 10 of all members of the they00 will report, if have not already. Very busy for earnings. Apple is the big capper after the bell. We see a concentrated in industrial, for example. For whirlpool. Sales increase in north america but saw declines in all other regions. Dupont raising its earnings outlook for 2016. Merge with dow chemical by the end of the year. 3m, not much change. That company also beating estimates in terms of earnings. Sales in the electronics and energy unit down by 14 . Us more aboutk to what else is going on in terms of not just earnings but also the oil markets and in currency. Julie currency still in sharp focus. The japanese yen in particular. Is now back to mark. Mark lets look at what is happening to the stoxx 600 Industry Groups. Up for the first day. Very much a day that has been dominated by earnings from the likes of bp. Standard chartered earnings more than them up by 2 . The head of the boj up by a third of 1 . Bp reported this unexpected profit. Stronger than expected refining and trading performance helping mitigate the low as crude prices in more than a decade. I have a lovely chart for you. All the Major Oil Companies in 2016. Dp is underperforming. It is perceived, by analysts, of having a dividend risk if Oil Prices Fall again. It has the highest dividend yield among the biggest oil majors. Yeartodate, it is up 6 . 4 of those gains, and today. Exxon up by 12 . Chevron 13 . Companyirst major oil to release earnings. Standard chartered today, shares up 12 . Firstquarter profit fell 64 . Revenue dropped in every business line. Revenue sank 24 . A reported a drop in loan impairments and Capital Increased more than analysts expected. Shares of by 11 . The big kleiner in europe is a Company Called cobham. 15 are down a mere intraday. It is a manufacturer of aerospace technology. Underlying trading will be 50 below previous expectations for the fouryear. A 2for7 planning , but will it sort out the Balance Sheets . Still down a whopping 15 today. There is a stock decline for you. Betty and a big runway back out. Lets get to bloomberg first word news. Vonnie quinn has more. Five primaries in the northeast may decide future of democratic president ial candidate bernie sanders. Front runner Hillary Clinton could pull off the sweeps. The vermont senator says if clinton is the nominee, he will have to convince his supporters to vote for her. Next weeks indiana primary might determine Donald Trumps prospects. He has called on his rivals to quit. Reporting thatv switzerlands ambassador was summoned to iran. It was over the decision to allow the families of the victims of the lebanon attacks to collect more than 2 billion of frozen funds from iran. In bangladesh, al qaeda claims responsibility for the killing of two men, including a day rights activist, who worked for he was targeted as the editor of bangladeshs only gayrights magazine. About half of highspeed trains and a third of local trains are running. Global news 24 hours a day, powered by our 2400 journalists in more than 150 news bureaus around the world. Quinn. Nnie betty thank you. The Federal Reserve beginning of their meeting today on monetary policy. Rate is is in an and statement scheduled for tomorrow at 2 00 p. M. Eastern. Looking at clues, look no further than the bond market. Check out this chart. This is volatility and treasuries. Plunging to the lowest level since 2014. Thatsrs piling into that janet yellen and her cohorts will not raise rates anytime soon. But is the market too dovish and placement . Temporarilys filled joining us is phil camporeale. When you look at a chart like that, is that a warning sign everyone is too sanguine about rates . Phil there are two ways to look at it. One is you have 80 of global bond demand. These are Central Banks that just bought. There are uneconomical. On the other side boston is having a bad week. The boston fed president saying that the Interest Rate market is too shallow. We should not be this complacent about the markets. A good rule of betty and brady. Have a rule ofou thumb. About 50 needs to be priced into any fed meeting for them to go. That is that transparency they want. They had that. It was priced into the june meeting. That one away when janet yellen said you need low rates for this growth to continue. And you only have 20 pricing in june. They want to go twice this year. They said that. Coming into the year, they said they wanted to go four times. Data dependent. It is also dependent on financial conditions. Credits rights. The dollar. The vix. Betty lets get to how you have been playing. Have you been playing in highyield . Phil actively managed highyield. If it is up six percent year to date, it is only back to 2015 levels. We are only back to levels from the beginning of december of 2015. Recession, itoids gets to carry highyield. And 50 of u. S. Large equities are outperforming the 10 year yield. That has never happened before. Mark i made a chart for you. This is japans nikkei versus the europe stoxx 600 over the last six months. 13 , the down by stoxx 600 down by 50 . But you prefer european stocks. Is that a valuation thing . Is a bank of japan call. The bank of japan continuing to press on negative Interest Rate policy is not the most effective thing. The more the bank of japan talks about the negative Interest Rate policy, the more the yen rallies. That is counterintuitive. Draghi ide, mario on the europe side, mario draghi we willwill folks on focus on qe and the balance sheet. You need a Strong Financial system in order to get a good growth rate. The market is saying negative interest policy is not the right idea. Us to thursday, wednesday is the doj will meet. Are we in for a surprise . We have been pulling some of the strategists and economists, and at least half save the boj will have to do something thursday. Can they shock us again . Anything can happen with Central Banks. Again, when you look at the yen and how it has rallied, the market is saying the bank of japan is out of bullets now, especially with Inflation Expectations that are now moving lower in japan. They are in a tough spot, which is why we favor the developed markets of the u. S. And europe. Betty i want to look at the whole world. I will throw another chart at you. This shows the msci all countries of the world index. Gap was pretty wide between the two going into the end of last year. They have since converged and gone up. Late the expectations of increases is not foreign anymore. It is barely one now pay what do you read into that . Phil two things. The dollar has taken markets hostage. The dollar being weak or is good for em currencies. Emerging thing is markets was the most crowded trade to the underweight. Equities are up 6 . S p up about 2 . Everyone was short em coming into the year. Crowded tradet being the dollar. So these work themselves out. We are working our way back into the em trade. That is important for the decision to get back in. Ty people got flatfooted people got caught flatfooted for sure. P. M. Re to tune in at 1 00 tomorrow for our special coverage of the fed decision. And we will check in on the and pioneerm bp natural resources, straight ahead. Mark live from london and new york, i am mark barton. Betty i and betty liu. Time for the Bloomberg Business flash. Sign for house hunters. Home prices in the u. S. Rose less than forecast in february. Property values and 20 cities were up 5. 4 . Sinces the smallest gain october. Prices rose the most in portland, oregon at almost 12 . About 600 million to 700 million of annual cost savings for nomura. Report details when it releases earnings tomorrow. Thirdquarter profits be estimates at procter gamble. P g sales were lukewarm, but it was partially offset by cost cuts. The ceo called for another 10 million of reduction in the next five years. That is the Bloomberg Business flash. Lets head back to the markets desk, where julie hyman has a check of the commodity earners. Julie bp coming out with its numbers and beating estimates, even though we saw lower brent in the First Quarter. The company has refining operations as well. Its cost to buy brent crude to refine it was lower, so they had that are refining margins. Trading operations did better than estimated as well. Posting an unexpected profit. Analysts expected a loss. The company is trying to keep costs down to keep paying dividends. The company says next year, oil has to only be 50 to 55 a barrel to create a balance. The previous estimate was 60. When you talk dividend estimates with bp, you have to compare with its peers. Stock price. Bps it has lacked because there have been questions about the sustainability of its dividends. The high dividend yield for many of these large oil Cap Companies keeping the floor under their stocks. We will see if bp will catch up. Also looking at pioneer natural resources, a big shale producers. Lifting its growth target. Wells drilled in a west texas shale field are producing more than expected. Their previous estimate was 10 . But the company will keep its budget at the same level. Shares of 5. 5 . And Freeport Mack Brown fr eeportmcmoran has been scaling back its energy business, trying to sell its oil and gas unit. It says it has not found a buyer for the entire unit. It will integrate those folks into another unit. The companys firstquarter net the lossning, though was smaller than estimated. Shares down 3 . Mark thanks. Coming up next on bloomberg breaks, we will take a from the markets to talk sports. Nfl commissioner Roger Goodell tells bloomberg he is pleased about a court ruling to uphold his decision to suspend quarterback tom brady. Betty you are watching Bloomberg Markets, i am betty liu in new york with mark barton in london pay lets talk american football. The first round draft takes place thursday evening in chicago. Before the nfl commissioner Roger Goodell announces the picks, he made a stop here on bloomberg. He covered a lot of stuff with david westin, including how the nfl plans to capture a new digital audience. The medianges in world are significant and evolving. We feel the foundation of our success has been making has been being available to the greatest possible audience. We want to continue to expand and reach those fans who are consuming on their platforms, which are either tablet or phone or any other kind of device. We want to be there with those devices and with our content. This is a Good Opportunity to do that. Support our broadcast audience also, but this is something the future is important for us to be involved with now. Leader of ae the major sport but also the ceo of a big company, in some ways. If you look at the revenue, compared with other Major Companies, it is substantial. Have been quoted as in you have a goal of revenue of 25 billion by 2025. How important will whether twitter or facebook or other outlets be in achieving that goal . Roger the most important thing is to do with sustainably. Think long term and not short term. Try to get to a number. We want to grow the nfl. That includes on a global basis. We believe international is a great opportunity for us to expand our game. We are playing in london and mexico this year. We have plans to play in china. Bring our continue to game to the broadest audience. Second, we believe our content is of great value, still, here in the u. S. The Media Opportunities for us we think are still significant. We believe the best days ahead of us are still there. We will continue to focus on how we grow. When can you see a day revenues from outlets such as twitter or facebook or social media we do not even know about yet can rival that of a broadcast . Roger it is hard to say, but we are planning on that. Planning on the basis that the potential is there. So what do we do to make sure we are there . Thein the short term, it core is how do we reach our fans . Technology is giving us a way to reach directly to our fans and away we never have before. It makes our content more valuable and gives us the ability to speak directly to our fans, wherever they are and through whatever device. That is a great advantage. David what about data. How important is that to your future as a business matter . Roger incredibly important. That is what fans, consumers want. One thing we learn from our efforts to grow the game is how video andand information consumers want. Our fans want to get behind the players. The want to get behind teams. Our job is to give them that opportunity. That is why we focus so much on making the game excess bull to our fans. David some people look at sports data and take a step into the legalized gambling. Your counterpart at the nba road and all that about that. Is that an opportunity of expansion down the road . We actually oppose legalized gambling. We do not believe it is in the best interest of the integrity of our game. We want our fans to know that they are seeing the real thing and it is not being a foreign spy outside forces. We have a strong policy in this area and plan to continue that. Betty nfl commissioner Roger Goodell speaking earlier on bloomberg. Mark apple heading into uncharted waters. How bad can it iphone sales be . That is the question. We get a preview of its earnings report. Heres is a look at shares of apple over the last year down over 20 . Vonnie Memorial Services in cap marking the 30th anniversary of the explosion at chernobyl. It is the worlds worst nuclear disaster. Work is underway to complain a 2. 3 million longterm shelter over the building containing chernobyl is exploded reactor. Place,e structure is in work will begin to remove the reactor and its lava like radioactive race. Norway is appealing a district officialsng that violated the human rights of a mass killer. He is in prison for killing 77 people in a bomb and get massacre in 2011. He is being held in solitary confinement in a three cell complex, but can play video games, watch tv, and exercise. Hasysias Development Fund defaulted on a 1. 8 billion bond. They are under investigation or claims it was used to funnel money to politically connected individuals. They have denied any wrongdoing. Pay raises are coming to wimbledon. Men and women will receive 3 million u. S. Dollars, an increase of 5 . Over the past five years, prize money at wimbledon has doubled. The 130th edition of the term it will be played at the Old English Club from june 27 through july 10. Bendime of britains big a threeyear restoration of parliament crumbling clocktower is set to begin next january and will cost 42 million. It is the biggest repair job on the 100 and 160yearold structure in decades. Global news 24 hours a day powered by 2410 was a more than 150 news bureaus around the world. Vonnie quinn. Betty time to get you caught up on markets. Starting off in asia, some gains, moderate gains in china. In japan, again, you see a decline ahead of the boj meeting on thursday. Shares ofews, Mitsubishi Motors fall off a cliff after reports of that the that the company had improperly tested the fuel economy. This dates all the way back to 1991. The Company Later confirmed the news. Bloombergs david has more from hong kong. David Mitsubishi Motors acknowledged that this improper testing issue was found today back as far as 25 years ago. He said the issue was found in 1991, 19 92, 2001, and 2007. The company can determine at the moment if this problem actually spreads beyond many cars. The company also naming three former prosecutors to a panel that will be investigating the issue further which it says may actually take about three months. Onnwhile, shares fell 9 tuesday, taking the carmakers half, cap around this time last week. Bloomberg, hong kong. Closer to home, stocks are just holding on to earlier gains. The stoxx 600 was three quarters 1 higher, boosted by earnings. Small gains in london, small declines in germany and france. Have a look at the Industry Groups on the stoxx 600 today. It is worth noting investors have pulled money from the region stock funds for 11 straight weeks. That is the longest stretch in six years. Banks are up. Interesting thing going on in the currency market today. The pound is at its highest against the dollar since january. Rebounding 5 since that sevenyear low on february, the 26th. The euro is falling for an eight day, the longest losing stretch since june last year. Brexit concerns have diminished. The yield on the u. K. Tenure up to 1. 65 . That is the highest since january and the german 10 year yield up by three basis points, the highest since march the 16th. Lets go back to the u. S. Abigail doolittle has the latest live from the nasdaq in midtown, manhattan. Hi, abigail. We have a nasdaq trading down slightly after the index had opened fire. One stock soaring. Micron. Micron is a top performer in the nasdaq 100 on bullish comments. If micron is to benefit from the cut announced yesterday, signaling what he called dram discipline, more of a focus on profitability, the expects this to be a positive. There are lots of turnaround helps. Micron was the worst stock in the nasdaq 100 last year. Micron areares of still down 20 on the year. The big d reports later, apple, what can you tell us, what are investors watching out for the most . The big focus on this report will be iphone sales. Everyone is looking for a decline or job as forecasted by the company back in january. The question is how bad will be dropped be . Consensus is calling for 50. 7 Million Units to be sold at that level or above. It will be a neutral or positive for the stock. It could be a disappointment. There will be lots of focus on the june quarter. Will the declines continue . Mike thinks that iphone sales will drop on a yearoveryear basis for the rest of 2016. These sorts of expectations could help to explain why the stock more recently has started to drop back down into a range, perhaps even likely to go back down toward the recent lows. It will be interesting to see what apple does report today after the close. Abigail doolittle at the nasdaq. Should we stay with apple . Betty lets stay with apple. That is the big one. Investors will be looking to the company to see of customers are upgrading their iphones less frequently. Iphone sales account for two thirds of the business. Any slump could be viewed harshly. Where iphone goes, so it is apple. That is not scaring away the Senior Research analyst. Apple is still his top pick. He joined it bloomberg earlier this morning alongside monsterks here is in what investors should look for today and apple. On the growth side, the valuation is reflected and even lower growth rate within what we think they will grow. Specifically, the iphone will be down 15 in the march quarter. It should be up about 7 in the december quarter. We think the multiples will expand going into that reasonable growth. On top of that, the Service Business which is a new aspect of the story. I think investors will a increasing attention to that higher growth and substantially higher profitability. The combination of those two, we think will be positive for the stock over the next six months. You talk about services, i assume youre talking about streaming music. It would be subscription based. That is a row change for apple. I think of it as a hardware company. It is a change. The basic idea is they are finding ways to monetize the experience you have with the operating system. Specifically, the services business, itunes music, the app store, there is also the itunes store, applecare, and apple pay. The combination of all of those little experiences that you have around ios, those are more sustainable. The hitt for investors and miss in terms of where product cycles are. It is more about where our everyday engagement and the apple platform. That is why you should get a higher multiple. I think they are just turning to give disclosures around that. We think they will give increasing disclosures around that which should be positive. Can i ask you a question . One of the things i have been amazed by with this company is the amount of cash flow, Free Cash Flow this company throws off. I would argue is historic in terms of their ability to do it. To keep margins were they are. In a business, you would think margins would compress overtime. Is that sustainable . Can you continue to do that over the long term . Over the next few years, that is sustainable. Investors have expected their margins to come down over the past five years. That hasnt happened, as you mentioned. Gross margins have been a 40 for that entire time. ,f they get into new categories and there is some debate about whether or not they would have a branded card, that would be an example of something that would open up a large addressable market. It will be punitive to their margins. As far as the sustainability of margins around the iphone, we feel good about that. We think the broader topline growth story could be negative to margins longerterm. What are they going to do looking at the cash on bloombergs f8 function, 215 billion in cash and equivalents, is this the type of warchest they need to build a car . One thing you have to back out of that, they have a lot of debt. If you look at the net cash, it is more like 160 million. It is still a huge amount. That is probably the type of money they will need to be more aggressive than autos. Also, this concept of augmented reality. This is the thing Mark Zuckerberg is intense about, the next competing platform. All of the Major Companies are working on it. Eventually, apple will have to replace the iphone. That will be something that could cause a large amount of investment. The two massive buckets they will be spending money on his augmented reality and autos over the next decade. Guide me through the earnings relationship to set a supper later on today. If i stripped down iphone sales which will always make headlines, what is the one metric that you will be looking for in a Earnings Release . It has to be the iphone. Anything in line, a little upside to that. We arehe guidance looking for around 47 billion for the june quarter. We are expecting a 2 guy down. I think that is a symptom of the six. The commentary about the seven and the return to growth will be one of the key factors for tonight. We should get that. Interesting, you talk about the services side. We talk about cars, augmented reality. You havent talked about the iphone seven. Does that mean you dont of the expect something major come fall . That is exactly a. We think this will be a nominal upgrade. They will be successful and have the effect of returning the iphone to growth. There is this echo effect were people who bought iphones to years ago will be upgrading at with this cycle. They will also gain some market share on top of that. The big reason why people upgrade their phones is not because of some killer feature. The big reason is because their contracts are up and their phone is getting a little slow and they neither phone. Enough to will have keep the momentum going and that high 90 retention rate intact. Senior Research Analyst gene munster with lack rocks rick reader earlier on bloomberg. Coming up on Bloomberg Markets, a new threat to financial reforms in the u. S. How wall street is attempting to chip away at doddfrank. A quick look at a mover today. They specialize in infectious diseases. It is falling over 36 today after a panel declined to back one of its experimental drugs. We will much more Bloomberg Markets ahead. Mark this is Bloomberg Markets. I am in london with betty liu in new york. It was snowing earlier. I am serious. It was hailing. It was snowing. I couldnt believe it. It is nearly may and it is snowing. Im coming to new york. I am leaving everyone behind. Time for the Bloomberg Business flash. A look at some of the biggest business stories in the news right now. The New York Times says it is planning to streamline its International Operations and will be cutting 70 jobs. The newspaper will redesign its International Print edition and relocate some editing and production operations from paris to locations in hong kong and new york. The times says it will incur 50 million in costs and all charges will be recognized in the Second Quarter. The worlds biggest publicly itsed copper miner reported sixth straight quarterly loss today. The company also says it will take a 40 million charge in the Second Quarter associated with job cuts and restructuring. Folding itss standalone oil and gas unit into the company and coming energy by 25 . As Consumer Confidence on april, 94. 22dex decreased from 96. 1 in march. The number came and follow the immediate forecast in a Bloomberg Survey which calls for a reading of 95. 6 95. 8. That is it. That is your latest bloomberg is this flash. Using a newet is tactic to try to resist the 2010 financial reforms. The battle is starting to take place in the courtroom. Reporter paul barrett writes about this in the latest Bloomberg Businessweek. Paul joins us now. Lets talk about a Consumer FinancialProtection Bureau which has become the bane of wall street. What is this phh suit . What is this about . It is a mortgage company. It was brought in front of the cfp be and was accused of running a kickback scheme whereby it before preferred borrowers to certain insurers based on the fact that those insurers would buy reinsurance from a phh subsidiary. Imposed ation bureau first a 6. 4 million penalty forcing them to discourage the money. Then the case went before the director, the sole director of the cfp be, and he increase the penalty to 109 million. Now on appeal, phh is not only disputing that they should be held liable in this fashion, but they are disputing the very structure of the cfp be, cfpb, alleging the tremendous amount of power concentrated in the sole director of the agency is unconstitutional. And could be abused. This seems to be gaining some gaining a little traction with the judges . In the oral argument on april 12, at least one of the judges was very aggressively questioning the governments attorney and seeming to embrace phh is positioned. Veryond judge also seemed sympathetic to phh area before the arguments even took place, the court had specifically told the parties we dont want to hear just about this case. We want to hear about this larger constitutional issue. That is a signal that the court is considering going in a bigger direction. Mark a lot of acronyms. Is it independent is its independence under threat . It would be a as far as the government is concerned. The director of the agency can only be removed for cause. His funding comes not from congress through the normal appropriations process, but is drawn directly from the Federal Reserve. Those aspects of the agency given a tremendous amount of independence. That is what financial interests are trying to chip away at. And interesting ruling on that life. What are the implications of that . In that ruling, the courts of the Financial Stability board, which is a separate agency, was arbitrary and capricious in ruling that metlife was too big to fail. It was a financially significant nonbank institution. By setting aside that ruling by the Financial Stability council, the court was opening the door to other nonbanks that have been designated to make to fill to challenge their designation. That could unwind potentially that part of the doddfrank reforms. Mark thank you f joining us to explain that. Paul barrett. Thecan read his story and latest Bloomberg Businessweek. Still ahead on bloomberg television, there is an app for everything. We will show you what can bring a personal trainer into your home. The founder of trm joins us next. Mark fitness is no longer a healthy hobby, it is a lifestyle. From spending too blue clamp classes, why pay to sweat in the sea of others when you can work out with top 40 personal trainers in the privacy of your own home . Greg peters is one of the partners in a luxury jim and manhattans rich and famous. An apphe famous of designed to bring fitness to your front door. Thank you for joining us. Tell us about this idea. How did you come up with this . Discovered a problem in the luxury Condo Services market. We were growing in designing gyms and stopping them. We really knew we were going to run out of staff. Bridgingd to explore technology with our expertise to deliver services when people want them at their location, with whom they wanted. We explored training, yoga, pilates, swimming at the beginning of what we are creating which is an ecosystem of highend services to service these buildings. Is it true that you can get a trainer to me within one hour no matter where i am at nyc . That is correct. Our goal is to provide you the most personal and convenient service. That is about your time. Trying to deliver those within one hour. Betty what is the price point . 125 a session. We encourage people to bring a guest. It exposes them to our service and the convenience of that service. Betty how does that rate compared to just doing it in a gym . Usually, you have a gym membership fee, some costs for personal training. We tried to pick something that we thought would encourage people to try this as it is a new behavior. People are not used to people having coming to their home. Betty i think they would like it very we have experienced that and that is what we are excited about. The condo market is booming with these amenities. They have great gems, pools, yoga rooms, and what we have been allowed to do is provide that service for people without them having to join a gym. They feel like they have control of their own health life. To what extent can you scale this . Youre in new york city. You are going to expand in various cities in the u. S. Could this be global without diminishing the quality . That is a great question and it has to do with building it infrastructure. Our Business Strategy is in line with our we need to create metrics and systems to detect quality control. We recruit. We have determined is vetting process. We go above and beyond to make sure that your experience is not only a great service, but there is a relationship there. As you know in training, the success is based on you showing up. Youre going to show up if theres someone there who you feel accountable to and who you respect. That is what we are trying to promote through training. Betty were you partnering with . We have been in the business for 25 plus years. Our expertise in personal training and the success of personal trainers, along with clients, seems to be a great mass matchup of the technology which we are all experiencing getting things were home. Every thing on demand. Everything on demand. It is a word that is overused. But we are turned to do is build an ecosystem where people come to train for all serves a different services. A great, thank you so much. Greg peters, mark, im sending one over to you in london. I need a. Believe me, idea. Betty read more about luxury of bloomberg pursuits. Nypursuits. Uits mark we have oil producers, banks, bp posting a surprise profit today. 11 pleasantly surprising investors, Capital Increase more than expected. Next hour, an interview with tmobile cheese chief executive john ledger. Posting their seventh straight quarter of gains about one million. A quick look at European Equity markets, we have had three days of decline. The stocks europe 600 is holding onto those gains. The european close is next. Betty it is 11 00 11 00 in hong kong. Im betty liu. Mark youre watching the european close on Bloomberg Markets. We are going to take you from new york to london in the next hour. Heres what were watching today. Report surprised decline in loans impairments. A boost in capital. Shares wiping out their losses to the investors, like what they see in the strategy update. Talk withare going to tmobile ceo john ledger as a wireless carrier adds one million subscribers. Sales rise 11 in the First Quarter as the company boost its outlook for 2016. Bloombergs exclusive interview with patrice. The Company Winning one of the biggest defense deals, a 39 bil