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Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish
US Markets

Stocks Rise Pre-Bell as Markets Head for Strong Second-Quarter Finish

The benchmark US stock measures rose before the bell Tuesday as markets head toward a strong finish to the second quarter.The S&P 500 and the Nasdaq edged up 0.1% each in premarket activity, while the Dow Jones Industrial Average added 0.2%. The indexes finished the previous trading session in the green, with the Dow hitting a fresh all-time high.The S&P 500 and the Nasdaq Composite were headed for their best quarter in six years, while the Dow was on track for its best quarterly gain since 2022, Reuters reported.US markets will be closed on Friday in observance of the Independence Day holiday, which falls on a Saturday this year.Markets were buoyed after the US Supreme Court on Monday rejected President Donald Trump's request to overturn a lower court's ruling that prevented him from firing Federal Reserve Governor Lisa Cook.In August 2025, Trump attempted to fire Cook over mortgage fraud allegations. Cook challenged the decision in a federal court, which issued a temporary restraining order that blocked the attempted removal.Iran reportedly said Monday that no talks were scheduled with the US in the coming days, despite Trump saying Washington will meet with Tehran in Qatar on Tuesday. Both sides recently engaged in attacks in and around the Strait of Hormuz, but agreed to pause hostilities to continue talks on a peace deal reached earlier in the month.West Texas Intermediate crude oil rose 0.3% to $70.97 a barrel before the opening bell, while Brent ticked up 0.1% to $73.22.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for April, at 9 am ET. The Chicago purchasing managers' index for June posts at 9:45 am, followed by the consumer confidence report for the same month at 10 am.The Job Openings and Labor Turnover Survey for May is also out at 10 am. Cleveland Fed President Beth Hammack is scheduled to speak at 10:40 am.Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 4.1% and the 10-year rate off 0.7 basis point to 4.37%.Shares of AeroVironment (AVAV) jumped 24% pre-bell as the drone maker reported stronger-than-expected fiscal fourth-quarter results and issued an upbeat full-year revenue outlook at the midpoint. Super Micro Computer (SMCI) rebounded 1.9% following an 8.1% drop at the close of Monday.Rocket Lab (RKLB) rose 3.3% after closing the previous session up 16%. The company recently agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company.Sportswear giant Nike (NKE) and beer and wine company Constellation Brands (STZ) are expected to release their latest quarterly results after the markets close.Gold inched higher at $4,040 per troy ounce, while bitcoin fell 1.7% to $59,275.

Dow JonesNasdaq CompositeS&P 500$AVAV$IRDM$NKE$RKLB$SMCI$STZ
Asia Markets

Update: Communication Services Helps Boost US Equity Indexes; Crude Oil Advances Amid Mixed Messaging on Iran Meeting

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose amid standout gains in communication services and consumer discretionary, and as crude oil advanced amid mixed messaging regarding a meeting to be held on Tuesday between Washington and Tehran in Doha, Qatar.The Nasdaq Composite jumped 2.1% to 25,820.14, the S&P 500 advanced 1.2% to 7,440.43, and the Dow Jones Industrial Average rose 0.6% to 52,182.74 on Monday.Technology was among the top three gainers, while materials led the decliners. Tesla (TSLA) and Alphabet (GOOG, GOOGL) were among the top 20 gainers in a category with a market capitalization of over $200 billion. The group's and the S&P 500 index's leader remained Corning (GLW), trading up 16% at the close.In geopolitical news, the United States and Iran on Monday separately announced they will send delegations to Qatar this week, though Tehran insisted it has not agreed to meet with the US "at any level" after attacks across the Persian Gulf over the weekend challenged negotiations to end the war, the Associated Press reported.Iran's foreign minister, Abbas Araghchi, reiterated that "Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank said in a note. Marine traffic through the strait has modestly picked up in the last 36 hours, CNN cited ship tracking data."Disputes over key provisions of the memorandum of understanding -- particularly around control and potential costs for transit through Hormuz -- mean the situation remains fragile and risks to regional stability persist," Jim Reid, global head of macro research at Deutsche Bank, said in the note.Meanwhile, fighting between Hezbollah and Israel continued in Lebanon over the weekend despite a recent agreement between the countries, CNN reported Monday. Iran has demanded a full withdrawal of Israeli forces from Lebanon as part of a final deal with the US.The front-month global benchmark North Sea Brent rose 1.1% to $72.78 per barrel, and the US West Texas Intermediate climbed 1.8% to $70.47 per barrel.Most US Treasury yields rose, with the two-year up 1.9 basis points to 4.11%. The 10-year rate was slightly higher at 4.38%.Gold futures slumped 1.6% to $4,029.5, and silver futures dropped 1.5% to $58.31.In economic news, the Dallas Fed's monthly manufacturing index fell to zero in June from 0.4 in May, missing expectations for an increase to 1.0. The other manufacturing readings already released indicate expansion.In company news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal valued at about $8 billion to create a vertically integrated space company. Shares of Rocket Lab soared almost 16%, making it the Nasdaq's second-biggest gainer.Meanwhile, UBS adjusted Astera Labs' (ALAB) price target to $400 from $205 while maintaining its neutral stock rating. Astera's shares were up more than 16%, the top gainer on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$ALAB$GLW$GOOG$GOOGL$IRDM$RKLB$TSLA
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.9%.The Philadelphia Semiconductor Index gained 3.4%.In corporate news, Astera Labs (ALAB) shares jumped 15% after UBS adjusted the company's price target to $400 from $205 while maintaining its neutral stock rating.Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company. Rocket Lab shares climbed 16%, and Iridium surged 24%.Meta Platforms (META) is strictly limiting the use of Anthropic's Claude code and OpenAI's Codex by its engineers in its applied AI engineering division, The Information reported, citing internal guidelines it reviewed. Meta shares were up 2.9%.Sen. Mark Warner (D-Va.) plans to unveil a discussion draft of a bill that seeks to address the rapid rise of AI agents and the impact on the confidentiality of users' private information, The Information reported Monday, citing the draft, which it viewed. The legislation draft also seeks to determine whether massive platforms like Meta Platforms and Alphabet's (GOOGL) Google can throttle other services' agents, the report said. Alphabet shares were up 4.9%.

$ALAB$GOOGL$IRDM$META$RKLB
Sectors

Sector Update: Tech Stocks Rise Monday Afternoon

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3%.The Philadelphia Semiconductor index gained 3.1%.In corporate news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company. Rocket Lab shares jumped 14%, and Iridium surged 23%.Sen. Mark Warner (D-Va.) plans to unveil a discussion draft of a bill that seeks to address the rapid rise of AI agents and the impact on the confidentiality of users' private information, The Information reported Monday, citing the draft, which it viewed. The legislation draft also seeks to determine whether massive platforms like Meta Platforms (META) and Alphabet's (GOOGL) Google can throttle other services' agents, the report said. Meta shares were up 2.7%, and Alphabet was rising 4.5%.Apple (AAPL) is seeking White House approval to buy memory chips from CXMT, a blacklisted Chinese firm with alleged ties to the People's Liberation Army, Bloomberg reported Saturday. The company is seeking to reduce costs amid soaring memory chip prices, the report said. Apple shares were down 0.8%.

$AAPL$GOOGL$IRDM$META$RKLB
Asia Markets

Update: US Equity Indexes Rise as Communication Services Tops Sector Charts, Trump Sends Envoys to Qatar for Iran Talks

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose amid standout gains in communication services and consumer discretionary in midday trading on Monday, and as a meeting was announced between Washington and Tehran in Doha, Qatar, after both warring sides agreed to halt strikes over the weekend.The Nasdaq Composite jumped 1.8% to 25,754.6, the S&P 500 rose 1% to 7,425.1, and the Dow Jones Industrial Average advanced 0.5% to 52,157.4.Technology was among the top three gainers intraday. Tesla (TSLA), Alphabet (GOOG, GOOGL), and Meta Platforms (META) were among the top 20 gainers in a category with a market capitalization of over $200 billion. The group's leader was Corning (GLW), trading up 14%.Materials and real estate led the decliners.In geopolitical news, President Donald Trump said the US will meet with Iran in Doha, Qatar, on Tuesday, after US officials said both sides agreed to "stand down for now" and that negotiations remained on track following strikes over the weekend, CNN reported Monday, adding that Iran has not confirmed that talks will take place.Iran's foreign minister, Abbas Araghchi, reiterated that "Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank said in a note.The front-month global benchmark North Sea Brent rose 1.9% to $74.01 per barrel, and the US West Texas Intermediate climbed 2.4% to $70.86 per barrel.Most US Treasury yields rose, with the two-year up 2.5 basis points to 4.11%. The 10-year rate was slightly higher at 4.38%.Gold futures slumped 1.4% to $4,038.9, and silver futures dropped 1.8% to $58.18.In economic news, the Dallas Fed's monthly manufacturing index fell to 0.0 in June from 0.4 in May, missing expectations for an increase to 1.0. The other manufacturing readings already released indicate expansion.In company news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal valued at about $8 billion to create a vertically integrated space company. Shares of Rocket Lab climbed past 15%, making it among the Nasdaq's top gainers.Meanwhile, UBS adjusted Astera Labs' (ALAB) price target to $400 from $205 while maintaining its neutral stock rating. Astera's shares were up 14%, the top gainer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$ALAB$GLW$GOOG$GOOGL$IRDM$META$RKLB$TSLA
Sectors

Sector Update: Tech

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.3%.The Philadelphia Semiconductor index gained 3.1%.In corporate news, Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company. Rocket Lab shares jumped 12%, and Iridium surged 22%.

$IRDM$RKLB
Wire

Top Midday Stories: Comcast Plans to Separate Into Two Publicly Traded Companies; Rocket Lab to Acquire Iridium in $8 Billion Deal

All three major US stock indexes were up in late-morning trading Monday, as the US and Iran once again reportedly agreed to pause hostilities on Sunday.The US Supreme Court on Monday upheld a federal courts injunction preventing President Donald Trump from firing Federal Reserve Governor Lisa Cook before the conclusion of litigation.In company news, Comcast (CMCSA) plans to separate into two publicly traded companies through a tax-free spin-off of its NBCUniversal and Sky Businesses, the company said Monday. The separation, which is expected to be completed in about a year, would leave Comcast focused on its broadband and wireless operations, while NBCUniversal would include the Sky business along with its media, entertainment, streaming, studio, theme park, film and television assets, the company said. Comcast shares were up 7% around midday.Rocket Lab (RKLB) said Monday it has agreed to acquire Iridium Communications (IRDM) in a cash-and-stock deal with an enterprise value of about $8 billion. Under the agreement, Iridium shareholders will receive $27 in cash plus Rocket Lab stock. The deal is expected to close in mid-2027, pending regulatory and shareholder approvals, the company said. Rocket Lab shares were up 8.7%, while Iridium shares were up 22.1%.Martin Marietta Materials (MLM) said Monday it has entered into a definitive agreement to combine with Lhoist Group subsidiary Lhoist North America for $13.5 billion in cash and shares of Martin Marietta common stock. The deal is expected to close in H2, subject to regulatory approvals, the company said. Martin Marietta shares were down 6%.Amazon's (AMZN) Prime Day discounts generated over $26.4 billion in sales from June 23-26, a 9.3% year-over-year increase, Reuters reported over the weekend, citing Adobe (ADBE) Analytics data. Amazon shares were up about 4%.Price: $24.79, Change: $+1.62, Percent Change: +6.97%

$AMZN$CMCSA$IRDM$MLM$RKLB
Rocket Lab to Acquire Iridium Communications in $8 Billion Cash-And-Stock Deal
US Markets

Rocket Lab to Acquire Iridium Communications in $8 Billion Cash-And-Stock Deal

Rocket Lab (RKLB) agreed to acquire satellite communications provider Iridium Communications (IRDM) in a cash-and-stock deal worth about $8 billion to create a vertically-integrated space company.Shareholders of Iridium will receive $27 in cash for each share owned, along with Rocket Lab's stock, valuing the transaction at about $54 per share, the companies said in a joint statement on Monday.The transaction combines Rocket Lab's launch capabilities and satellite manufacturing with Iridium's satellite communications network and spectrum holdings to establish a space company that designs, builds, launches and operates its own constellations, the companies said.Iridium's stock jumped 21% in Monday trading, while Rocket Lab climbed 7.4%."This is a defining moment for the space industry and the start of a new era of strategic, accelerated growth for Rocket Lab and Iridium," Rocket Lab Chief Executive Peter Beck said in the statement. The deal is expected to allow the companies to "unlock entirely new markets," according to Beck.The acquisition offers Rocket Lab immediate access to a constellation of low Earth orbit satellites, in line with its vision to expand beyond launch services and spacecraft manufacturing.The company estimates the deal to be "significantly" accretive to its profitability and cash flow generation.The transaction, which requires approval from Iridium's investors and clearance from regulators, is expected to complete in the middle of next year."As the worlds of space and terrestrial communications continue to converge, more critical services will depend on space-based capabilities," Iridium CEO Matt Desch said. "We're excited about being able to accelerate the next generation of (Internet of Things), aviation, maritime, (positioning, navigation, and timing), and national security capabilities, and pursue new innovative applications as part of Rocket Lab."Rocket Lab said it has secured commitments for a $3.6 billion loan facility for the deal.In May, Rocket Lab reported a first-quarter net loss that narrowed from the year before, while revenue increased to $200.3 million from $122.6 million. A month earlier, Iridium recorded an annual decline in its first-quarter net income, while revenue grew.Price: $91.50, Change: $+6.96, Percent Change: +8.23%

$IRDM$RKLB
Research

William Blair Downgrades Iridium Communications to Market Perform From Outperform

Iridium Communications (IRDM) has an average rating of overweight and mean price target of $38.86, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $52.88, Change: $+9.36, Percent Change: +21.51%

$IRDM
Research

New Street Initiates Iridium Communications at Neutral

Iridium Communications (IRDM) has an average rating of overweight and mean price target of $36.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$IRDM
Research

Raymond James Downgrades Iridium Communications to Market Perform From Outperform

Iridium Communications (IRDM) has an average rating of overweight and mean price target of $35.62, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$IRDM
Wire

Iridium Communications Q1 Net Income Declines, Revenue Increases

Iridium Communications (IRDM) reported Q1 net income Thursday of $0.20 per diluted share, down from $0.27 a year earlier.Analysts polled by FactSet expected $0.33.Revenue for the quarter ended March 31 was $219.1 million, up from $214.9 million a year earlier.Revenue for the quarter ended March 31 was $219.1 million, up from $214.9 million a year earlier.Analysts surveyed by FactSet expected $218.4 million.Shares of the company were down more than 4% in recent premarket activity Thursday.Price: $38.61, Change: $-1.79, Percent Change: -4.43%

$IRDM

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