Matthew Anderson is leaving Roku after serving as its chief marketing officer for seven years — and he’s joining James Murdoch’s Lupa Systems investment company as a strategic adviser.

Anderson, a former News Corp and Sky exec, announced Monday that he will exit Roku effective in December. A Roku rep confirmed his departure but declined to comment. At this point, Roku has not identified a replacement for Anderson as CMO.

According to Anderson, who announced his new role with Lupa in a LinkedIn post, he first worked with James Murdoch when the latter became CEO of Star TV (then owned by News Corp) in 2000.

“I am thrilled to be joining Lupa Systems as Strategic Advisor in December, co-investing with James Murdoch and his exceptional team to scale businesses shaping media, security, sustainability and India/East Asia for years to come,” Anderson wrote. “I’ll be joining long-standing colleagues to support inspiring and disruptive companies and deploy Lupa’s playbook.”

Murdoch formed Lupa Systems last year, after he left as CEO of 21st Century Fox following Disney’s acquisition of major pieces of the 21CF empire. Since then, Lupa has acquired stakes in Vice Media Group and location-based VR startup the Void. Lupa also teamed with Attention Capital, led by former 21st Century Fox exec Joe Marchese, to acquire a controlling stake in Tribeca Enterprises.

Anderson joined Roku in 2012 as a strategic adviser and was named Roku’s first chief marketing officer in 2013. In his LinkedIn post, he said his professional vision at the time “was to become CMO of an engineering-led company; to help take it public; and work at the disruptive edge of media.”

Anderson called Roku CEO Anthony Wood “an inventor, entrepreneur and critical thinker who creates products that make TV better for everyone.”

At Roku, “we’ve scaled in the

Our indicative theme on Expensive Performers – which includes companies trading at increasingly higher valuation multiples but are executing well, with consistently expanding Operating Margins and Revenues – is up by about 39% year-to-date on an equally weighted basis. This compares to the S&P 500 which is up by just about 5% over the same period. We believe that companies in this theme are likely building a competitive advantage in the businesses they are operating in, implying that earnings growth could be stronger going forward. Veeva Systems (VEEV), up 96% year-to-date, is the biggest driver of the theme’s return this year. On the other side, Heico (HEI) stock is down by about -7% year to date. Below is a quick rundown of some of the stocks and their performance over the past year.

See our theme on Expensive Performers for detailed criteria for picking the stocks in the theme.

Veeva Systems (VEEV) is a cloud-computing company focused on applications for the pharmaceutical and life sciences industry. The stock is up by 96% year-to-date. (related: Veeva Systems & Ansys – Two Software Stocks You May Have Overlooked)

VEEV

ServiceNow (NOW) develops a cloud computing platform to help companies manage digital workflows for enterprise operations, The stock is up by 75% year-to-date.

Pool Corporation (POOL) is a wholesale distributor of swimming pool supplies and equipment.  The stock is up by 53% year-to-date.

IDEXX Laboratories (IDXX) sells products and services catering to the companion animal veterinary, livestock and poultry, water testing, and dairy markets. The stock is up by 47% year-to-date.

MSCI (MSCI) is a financial data provider that is best known for its financial indices, which money managers use to benchmark investment performance. The stock has gained 35% year-to-date.

Heico Corporation (HEI) is an aerospace and electronics company that focuses

Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.

Other trading exchanges also could be involved in the discussions, both sources said.

Nasdaq is planning a visit to Texas to meet with the governor, according to one of the sources. Leaders of the exchange have had “a great dialogue” with Abbott, the source said.

The exchange, which lists about 176 Texas companies and has 87 employees in the state, is intrigued by an opportunity touted by Abbott to power its electronic infrastructure with renewable energy from wind farms in the state, according to one of the sources. Nasdaq is the trading platform for many of the nation’s environmentally conscious companies.

When Facebook invested $1 billion in building its massive data center at AllianceTexas north of Fort Worth, it struck a deal to buy its electricity from a 17,000-acre wind farm under construction at the time. Facebook, which trades on Nasdaq, is now planning to add to its 150-acre campus, which opened in 2017.

Dallas-Fort Worth isn’t alone in wooing the stock exchanges. Officials in Virginia, North Carolina and Illinois have also had discussions with Nasdaq, one of the sources said.

In a statement to The Dallas Morning News, Nasdaq vice president of communications Joe Christinat said: “We are assessing all options, but our No. 1 priority is protecting the U.S. capital markets and its investors.”

A spokesman for the New York Stock Exchange’s parent company, the Intercontinental Exchange, couldn’t be immediately reached for comment.

A potential tax on financial transactions in New Jersey, where Nasdaq and other exchanges house the data systems that power Wall Street’s daily trades, is what’s driving the talks.

NYSE, Nasdaq and

This year has been rather disappointing for shareholders in British-based defense firm BAE Systems (OTCPK:BAESY). Year to date, the stock has lost nearly 17% of its value, despite resilient growth in its order intake during the first half of 2020.

Looking ahead, however, there are three key reasons investors should consider buying BAE Systems.

1. Defense Spending Provides Stability

The defense sector is traditionally seen as a reliable safe haven for uncertain times. But fewer and fewer major defense firms are pure plays in the sector these days. In pursuit of what had been perceived as faster-growing markets, many in the sector increasingly earn revenues from commercial and other non-defense markets. Those firms with heavy commercial market exposure now face unprecedented economic headwinds.

Unlike many of its peers, BAE still earns nearly all of its revenues producing military equipment and providing military services. This contrasts with Airbus (OTCPK:EADSY) and Boeing (BA), both of which earn less than a third of their revenues from defense contracts. Raytheon Technologies (RTX), following its merger with United Technologies’ aerospace business, now also earns a substantial majority of revenues from its commercial aerospace divisions.

Companies that focus overwhelmingly on military markets have fared much better, benefiting from the long-term nature of military contracts and the relative stability of defense budgets. What’s more, amid rising geopolitical tensions, maintaining and modernizing defense capabilities remains a top priority for many governments.

BAE’s order intake for the first six months of 2020 reflects this – new orders was actually higher than the same period last year, at £9.34 billion, compared to £8.42 billion for the six months to June 30, 2019. Underlying sales rose 4%, although underlying EBITA decreased by 11% to £895 million on higher costs.

ChartData by YCharts

BAE’s share price and valuations appear to be lagging