Industrials and Manufacturing Sector

Southern Land Company hired former Highland Homes executive Tony Marchbanks as national president of homebuilding. Based in the firm's Plano, Texas office, Marchbanks will oversee operations across land development, construction, purchasing, sales, and architecture. The company currently manages an $8 billion project portfolio and a pipeline of more than 5,000 lots across four active master-planned communities in Tennessee, Texas, and Colorado. Marchbanks spent 34 years at Highland Homes, where he previously oversaw a statewide operation producing more than 4,000 homes annually. His appointment comes as Southern Land expands its residential footprint following the launch of its own mortgage lending division in May.

Defense contractor L3Harris ousted CEO Chris Kubasik on Sunday after an independent investigation found he engaged in conduct inconsistent with company values, according to cnbc.com. Shares of L3Harris fell more than 4% following the news. The board appointed Sam Mehta as chief executive officer and president, while lead independent director Lewis Hay III was named independent chairman. Kubasik's departure is unrelated to the company's financial reporting, controls, customer relationships, or operational performance. Mehta previously served as president of the company's Space & Mission Systems and Communications & Spectrum Dominance segments. Under his separation agreement, Kubasik will not receive any bonus under the company's 2026 incentive plan but will keep nearly 384,000 stock options. The ouster follows a $1 billion convertible preferred equity investment by the Defense Department in L3Harris' missile solutions business, an entity slated to become a separate company with an initial public offering postponed from late 2026 to mid-2027.

oilprice.com reports that Power Metals is advancing the Case Lake project in northeastern Ontario toward an early 2027 production target. The United States currently imports all of its required cesium, a rare mineral critical for atomic clocks, GPS systems, aerospace solar technology, and defense equipment, while global supply remains largely controlled by Chinese interests or depleted deposits. Power Metals plans a quarry-style operation rather than a large-scale underground mine because the cesium mineralization at the West Joe dyke sits close to the surface. Drilling at the site has previously returned intervals grading more than 20% cesium oxide, with individual pollucite lenses reaching up to 26% Cs2O. The company's development plan focuses on crushing and sorting ore on site before shipping concentrate, an approach intended to lower capital requirements and reduce operational complexity. The project spans approximately 11,000 hectares and has completed more than 24,000 metres of drilling across multiple lithium-cesium-tantalum targets. Environmental studies, permitting, and stakeholder engagement are currently underway as the company works toward a production decision.