LIVERMORE, Calif.--(BUSINESS WIRE)--Feb 12, 2026--
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260212891607/en/
“The letter of agreement reinforces Topcon’s long-standing commitment to innovation and customer-driven technology leadership,” said Ron Oberlander, head of the Topcon Geomatics Platform. “It lays the groundwork for a new era of high-precision performance possibilities as LEO satellites come online. By proactively adopting next-generation navigation infrastructure, we strengthen our commitment to provide reliable, resilient, and future-proof solutions for our customers.”
“Topcon understands where accuracy, continuity, and confidence matter most for operators in the field,” said Bryan Chan, co-founder and VP of Strategy at Xona. “By adding a modern navigation layer into Topcon’s offerings, Pulsar will strengthen signal performance and resiliency in even the most challenging environments, ensuring Topcon customers can operate with greater confidence wherever their work takes them.”
For more information about Topcon Positioning Systems, visit topconpositioning.com. Additional information on Xona is available at xonaspace.com.
About Topcon Positioning Systems
Topcon Positioning Systems is an innovation company focused on delivering precision technologies and workflow solutions for the global construction, geomatics, and agriculture markets. Topcon Positioning Systems ( topconpositioning.com ) is headquartered in Livermore, California, U.S. Its European head office is in Zoetermeer, Netherlands. Parent company Topcon Corporation (topcon.com), founded in 1932, is headquartered in Tokyo, Japan.
About Xona
Xona is the navigational infrastructure company bringing centimeter-level certainty to any device, anywhere on Earth. With Pulsar, the most advanced positioning, navigation, and timing (PNT) constellation in Low Earth Orbit, Xona will enable absolute precision, built-in protection against jamming and spoofing, and superior power to the billions of devices that rely on GPS today. Learn more at xonaspace.com.
Topcon Positioning Systems has signed a commercial agreement with Xona to secure early-adopter access to Pulsar, Xona’s low Earth orbit (LEO) satellite navigation constellation. This agreement positions Topcon among Xona’s first commercial customers preparing to integrate Pulsar into future high-precision positioning workflows.
NEW YORK (AP) — U.S. stocks are dropping Thursday as the market splits further between perceived losers and winners from the rush into artificial-intelligence technology.
The S&P 500 fell 1% after erasing an early gain that brought it just below its all-time high. The Dow Jones Industrial Average was down 494 points, or 1%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 1.5% lower.
AppLovin tumbled 18.1% despite reporting a stronger profit for the latest quarter than analysts expected. Like other software companies, it’s come under pressure recently from worries that AI may undercut its business while fundamentally changing how people use the internet.
AppLovin CEO Adam Foroughi pushed back on such worries, saying in a conference call with analysts that indicators show his company is doing well. “There’s a real disconnect between market sentiment and the reality of our business,” he said.
Its stock nevertheless worsened its loss for the young year so far, which came into the day at 32.2%.
Cisco Systems dropped 11.5% despite likewise topping analysts’ expectations for profit and revenue last quarter. The tech giant indicated that it may make less profit off each $1 of revenue during the current quarter than it did in the past quarter.
Analysts said that could be an indicator of higher prices for computer memory that everyone is having to pay amid the rush driven by AI.
More broadly, questions are rising about whether businesses that are spending heavily on AI will end up seeing high-enough profits and productivity to make the investments worth it.
In the meantime, the companies serving customers with huge AI budgets are benefiting.
Equinix, for example, jumped 11.8% even though the digital infrastructure company’s results for the latest quarter fell short of analysts’ expectations. It gave financial forecasts for 2026 that topped analysts’ expectations, and CEO Adaire Fox-Martin said that “demand for our solutions has never been higher.”
The company’s data centers are helping to power the world’s move into AI.
Outside of tech, McDonald's rose 2% after reporting a stronger profit for the latest quarter than analysts expected. The restaurant chain credited moves to improve its value and affordability, including cutting prices on some U.S. combo meals in September.
Walmart's rally of 3.2%, meanwhile, was one of the strongest forces pushing upward on the S&P 500. It erased losses from earlier in the week after a report said spending at U.S. retailers overall stalled in December.
In the bond market, Treasury yields fell after a report said slightly more U.S. workers filed for unemployment benefits last week than economists expected.
The number was nevertheless lower than the prior week’s, which is a signal that the pace of layoffs may be improving. It also followed a surprisingly strong report on the job market from Wednesday, which said the nation’s unemployment rate improved last month.
A strengthening job market could push the Federal Reserve to keep its cuts to interest rates on pause, even if President Donald Trump has been loudly and aggressively calling for lower rates. That’s because lower rates can worsen inflation at the same time that it gives the economy a boost.
It all raises the stakes for Friday’s upcoming report on inflation at the U.S. consumer level. Economists expect it to show inflation slowed to 2.5% last month from 2.7% in December.
A separate report on Thursday said that sales of previously occupied homes slumped last month by more than economists expected, which also weighed on yields.
The yield on the 10-year Treasury fell to 4.12% from 4.18% late Wednesday.
In stock markets abroad, South Korea’s Kospi rushed 3.1% higher thanks to gains for Samsung Electronics, SK Hynix and other tech stocks. The moves were more modest in other Asian markets and in Europe.
Hong Kong's Hang Seng fell 0.9%, and France's CAC 40 rose 0.3%.
AP Business Writers Chan Ho-him and Matt Ott contributed.
James Conti works on the floor at the New York Stock Exchange in New York, Thursday, Feb. 12, 2026. (AP Photo/Seth Wenig)
Trader Edward McCarthy works on the floor of the New York Stock Exchange, Wednesday, Feb. 11, 2026. (AP Photo/Richard Drew)
Trader Robert Charmak, left, and Specialist Genarro Saporito work on the floor of the New York Stock Exchange, Wednesday, Feb. 11, 2026. (AP Photo/Richard Drew)
Trader John Romolo works on the floor of the New York Stock Exchange, Wednesday, Feb. 11, 2026. (AP Photo/Richard Drew)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Feb. 12, 2026. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, Feb. 12, 2026. (AP Photo/Ahn Young-joon)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Feb. 12, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Feb. 12, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Feb. 12, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
