The big winners of Trump’s autos tariffs? Rental cars.

The new NGC2 platform, the Army's next-gen battlefield communications network built by Anduril Industries, Palantir, and others, is full of “fundamental security” problems and should be considered “very high risk,” per an Army memo cited by Reuters.

Anduril and Palantir have both secured Pentagon contracts in recent months, with the former having promised faster, cheaper and more advanced solutions than traditional defense suppliers. In July, Anduril won a $100 million contract to build a prototype of NGC2 alongside Palantir and several smaller contractors.

However, in an internal memo, the Army's CTO warned the prototype version could allow adversaries to gain “persistent undetectable access,” with the memo explaining “We cannot control who sees what, we cannot see what users are doing, and we cannot verify that the software itself is secure.”

Still, the Army’s chief information officer, Leonel Garciga, told Reuters that the memo was part of a process to “triage” vulnerabilities and address them.

Applied Materials is down 3% in early trading, after the semiconductor machinery maker said revenues could take a $600 million hit in the next fiscal year, on the back of widening chip export restrictions.

Per the company’s regulatory filling, net revenue for the fourth quarter of 2025 will take a $110 million dent, while annual sales next year would be reduced by “approximately $600 million.” Applied Material’s fiscal 2026 runs through next October.

In a move to restrict the development of China’s domestic chip industry, the Commerce Department started to prevent sanctioned companies from using affiliates to access restricted US goods. On Monday, the blacklist was widened to include majority-owned subsidiaries of listed companies.

“We doubt AMAT will be the only US semicap player impacted here,” cautioned Bernstein analyst Stacy Rasgon, while noting that other players in the industry have not offered any commentary on this subject.

China is the top market for Applied Materials and others in the wafer fab equipment industry.

In its most recent quarter, 35% of AMAT’s net revenues were generated by sales to China. For peers Lam Research and KLA Corp, those shares stood at 34% and 33%, respectively, for the year ending in June.

Hims & Hers Chief Operating Officer Nader Kabbani — an Amazon veteran who joined the telehealth company in May — will leave his post next month, the company announced in a Thursday regulatory filing.

Kabbani will begin an advisory role with the company starting November 2 and Mike Chi, who is currently the company’s chief commercial officer, will assume Kabbani’s title and duties.

Kabbani, who helped launch Amazon Pharmacy at the robotics company Symbiotic, took over from Melissa Baird, the company’s longtime COO who transitioned to an advisory role earlier this year.

Kabbani joined Hims at a tumultuous time. The company saw explosive growth when it started selling copies of popular weight-loss drugs made by Novo Nordisk last year while they were in shortage. But now that those supply constraints have waned, it’s limited in how much it can continue selling. Meanwhile its core business has slowed down, which resulted in disappointing revenue numbers in its most recent quarterly report.