Research
Raymond James Initiates Coverage on Rocket Lab With Outperform Rating, $80 Price Target
Rocket Lab (RKLB) has an average rating of overweight and mean price target of $113.77, according to analysts polled by FactSet.
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Insider Trading
Rocket Lab Insider Sold Shares Worth $8,777,721, According to a Recent SEC Filing
Adam C. Spice, Chief Financial Officer, on September 02, 2026, sold 140,157 shares in Rocket Lab (RKLB) for $8,777,721. Following the Form 4 filing with the SEC, Spice has control over a total of 1,405,967 common shares of the company, with 1,155,967 shares held directly and 250,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1819994/000200101126000136/xslF345X05/edgardoc.xml
$RKLB
Research
Berenberg Initiates Rocket Lab at Buy With $83 Price Target
Rocket Lab (RKLB) has an average rating of overweight and mean price target of $113.77, according to analysts polled by FactSet.
$RKLB
Asia Markets
Update: US Equity Futures Mostly Flat Pre-Bell as US-Iran Stalemate Persists
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Tuesday as the US and Iran remained at a stalemate regarding negotiations to reopen the Strait of Hormuz.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.3% higher.In response to Iran's conditions for reopening the waterway, US President Donald Trump said Monday that the Middle Eastern nation should pay reparations of its own for damage done over the past 50 years. "If there's damages to be paid, I think Iran should pay those damages," multiple reports quoted Trump as saying.Iranian Foreign Minister Abbas Araghchi had earlier said that reopening the strait would be partly conditional on the US paying for damage caused during the conflict between the two countries.Traders took note of the latest round of earnings, with Sea (SE) posting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $87.93 per barrel and US West Texas Intermediate crude 0.4% higher at $82.48 per barrel.The existing home sales report, scheduled for release at 10 am ET, is expected to show a decrease of 1% for July after a 2.4% fall in the prior month.In other world markets, Hong Kong's Hang Seng ended 1.1% lower and China's Shanghai Composite finished 0.8% lower, while Japan's Nikkei was closed for a public holiday. Meanwhile, the UK's FTSE 100 was 0.1% higher, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Sea stock was up more than 10% after the company reported its Q2 financial results. Nvidia (NVDA) shares rose 1.6% after the chipmaker said it partnered with six major financial institutions to raise more than $500 billion in third-party capital for the development of artificial intelligence infrastructure. SK Hynix (SKHY) stock was 2.1% higher after a Seoul Economic Daily report that the company plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%.On the losing side, Rocket Lab's (RKLB) shares fell 3.7% after the company's Q2 loss narrowed less than analysts' consensus. Hims & Hers Health (HIMS) was down 6.9% after the company reported late Monday it swung to a Q2 loss.
Dow JonesNasdaq CompositeS&P 500$HIMS$NVDA$RKLB$SE$SKHY
Wire
Update: Rocket Lab Q2 Loss Decelerates Slower Than Forecast While Sales Jump; Shares Drop Pre-Bell
(Updates with the stock move in the headline and the first paragraph.)Rocket Lab's (RKLB) shares dropped about 10% in Tuesday's premarket activity after the company reported its Q2 loss narrowed less than forecast, taking the shine off its sales beat.The company reported a Q2 loss late Monday of $0.08 per diluted share, narrower than a loss of $0.13 a year earlier.Analysts polled by FactSet expected a loss of $0.06.Revenue for the quarter ended June 30 was $234.1 million, up from $144.5 million a year earlier.Analysts expected $231.6 million.The company said it expects Q3 revenue of $250 million to $265 million. Analysts expect $238.5 million.Price: $72.13, Change: $-7.91, Percent Change: -9.95%
$RKLB
US Markets
Stocks Mostly Up Pre-Bell as Traders Assess Middle East Developments, Await Key Inflation Data
The benchmark US stock measures were mostly pointing higher before the opening bell Monday as traders monitor the latest developments in the Middle East and await key inflation data later in the week.The S&P 500 edged up 0.1% and the Nasdaq increased 0.4% in premarket activity, while the Dow Jones Industrial Average slipped 0.2%. The indexes finished Friday trading in the green, with the S&P 500 notching a new closing high.Iranian Foreign Minister Abbas Araghchi said Sunday that Tehran isn't in direct talks with Washington to end their war and reopen the Strait of Hormuz, CNBC reported, citing state media. Araghchi noted that the US will still have to meet Iran's conditions to open the strait, even if a deal is finalized with Oman on the crucial waterway.West Texas Intermediate crude oil inclined 0.9% to $78.85 a barrel before the open, while Brent gained nearly 1% to $84.38.President Donald Trump has signaled that he's prepared to let economic pressure take its toll on Iran instead of mounting another military attack, Axios reported Sunday."We are low-keying it," Trump reportedly said in a phone call, according to Axios. "We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money."With no major economic data scheduled for Monday, traders await the consumer price index for July on Wednesday, followed by wholesale prices and retail sales for the same month on Thursday and Friday, respectively.US Treasury yields were mixed in premarket action, with the two-year rate nudging 0.6 basis points higher to 4.21% while the 10-year rate retreated 0.4 basis points to 4.66%.Last week, official data showed that nonfarm payrolls unexpectedly fell in July, marking the first decline since February. The unemployment rate decreased to 4.1%, the lowest since June 2025 when it stood at the same level.Ferguson Enterprises (FERG), Axsome Therapeutics (AXSM) and monday.com (MNDY) report their latest financial results before the bell, among others. Rocket Lab (RKLB) and Hims & Hers Health (HIMS) post their earnings after the markets close.Shares of Plug Power (PLUG) advanced 5% pre-bell while Palantir Technologies (PLTR) was off 1.4% following a 10% jump at the close of Friday. Super Micro Computer (SMCI) climbed 3.2%.Gold inched up 0.1% to $4,402 per troy ounce, while bitcoin slipped 0.3% to $64,972.
Dow JonesNasdaq CompositeS&P 500$AXSM$FERG$HIMS$MNDY$PLTR$PLUG$RKLB$SMCI
Asia Markets
US Equity Investors to Focus on Inflation, Iran Geopolitics, Quarterly Earnings This Week
US equity investors are expected to focus on inflation and Fed speak this week while keeping a close watch on geopolitical developments related to Iran and quarterly earnings.* Consumer and wholesale price inflation data is due Wednesday and Thursday, respectively. Retail sales will be out Friday while existing home sales are scheduled for Tuesday.* Cleveland Fed President Beth Hammack, who was one of the three dissenters at the July Federal Open Market Committee meeting seeking a quarter of a percentage point increase in interest rates, and Richmond Fed President Tom Barkin will be delivering speeches on Thursday, a day after the CPI is due for release.* Currently, there is a 56% probability that the Fed will leave the target rate unchanged at 3.5% to 3.75% at its upcoming September policy meeting, up from 33% a week ago, due to a decline in July's nonfarm payrolls released late last week.* "I buy that near-term inflation risk remains elevated and an overly data-dependent FOMC may well react by raising rates," a Scotiabank note said late Friday. "In the context of lagging effects of monetary tightening, however, I don't see this as appropriate in the face of how inflation risk is likely to evolve in a medium-term sense."* Cisco (CSCO), Applied Materials (AMAT), CoreWeave (CRWV), Rocket Lab (RKLB) and Simon Property Group (SPG) are among the companies reporting quarterly results.* Iranian Foreign Minister Abbas Araqchi said on Sunday an agreement with Oman on the strait was in its "final stages" but reiterated comments made on Saturday that Tehran would not reopen the channel unless the US met certain demands made by Tehran, Reuters reported. These include compensation and an end to sanctions and military threats, before the strategic waterway is reopened, the news report said.* President Donald Trump has signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, according to CNN.
Dow JonesNasdaq CompositeS&P 500$AMAT$CRWV$CSCO$RKLB$SPG
Equities
Social Buzz: Wallstreetbets Stocks Mostly Higher Premarket Monday; Rocket Lab, SpaceX to Advance
The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly advancing hours before Monday's opening bell.Rocket Lab (RKLB) rose by 3.6% premarket, following a 3.4% increase from Friday's sessionSpaceX (SPCX) advanced by 2.5% in pre-bell activity, after closing Friday with a 15.8% increase.AST Spacemobile (ASTS) was up 0.6% in premarket hours, following a 6.8% rise from Friday's session.Nebius Group (NBIS) rose by 0.5% pre-bell, swinging from a 1% fall at Friday's close.Sandisk (SNDK) advanced by 0.6% premarket, following a 3.7% decline from Friday's session.Hertz Global Holdings (HTZ) was 0.4% higher hours before market open, after a 12.4% rise from the previous session.Micron Technology (MU) was flat premarket, swinging from a 0.4% decline at Friday's close.DTE Energy (DTE) was marginally advancing pre-bell, after a 0.1% decline from the previous session.
$ASTS$DTE$HTZ$MU$NBIS$RKLB$SNDK$SPCX
Equities
S&P 500 Posts Weekly Gain as Tech Giants Surge
The Standard & Poor's 500 index rose 3.6% this week after technology heavyweights jumped and optimism increased that the Strait of Hormuz will reopen following a deal between Iran and Oman.The market benchmark ended the week at 7,757.64. The index is now up 3.4% quarter to date and 13% this year.Palantir Technologies (PLTR) jumped 40% this week after Q2 sales and adjusted earnings surpassed estimates and the company boosted its full-year 2026 sales outlook.Nvidia (NVDA) jumped 12% this week.An Iranian official said a framework on the Strait of Hormuz has been agreed with Oman, with "a final decision to be made at higher levels," Al Jazeera reported, citing Iranian state media.The information technology sector had the largest percentage gain of the week, up 7.2%, followed by a 5.6% advance in materials and a 3% rise in industrials.Zebra Technologies (ZBRA) reported fiscal Q2 non-GAAP earnings and sales above market expectations, and also lifted its full-year 2026 outlook. Shares jumped 28% this week.Albemarle (ALB) reported Q2 adjusted earnings and sales growth that beat consensus, and raised revenue guidance for the specialties segment to $1.4 billion to $1.6 billion for the full year. Shares advanced 11% this week.The three S&P 500 sectors that declined the most this week were energy, utilities, and real estate, down 3.3%, 1.7% and 0.1%, respectively.NRG Energy (NRG) reported a steeper-than-expected slide in Q2 adjusted earnings. The shares fell 12% in the week.Cisco Systems (CSCO), Applied Materials (AMAT), CoreWeave (CRWV), Rocket Lab (RKLB) and Simon Property Group (SPG) are among the companies reporting quarterly results next week.Economic data due next week include consumer and wholesale price inflation, retail sales, Michigan consumer sentiment and existing home sales.
S&P 500$ALB$AMAT$CRWV$CSCO$NRG$NVDA$PLTR$RKLB$SPG$ZBRA
Wire
Rocket Lab Secures Three-Launch Deal With Japan-Based iQPS; Shares Rise
Rocket Lab (RKLB) said Thursday it signed an agreement with Japan-based iQPS, or Institute for Q-shu Pioneers of Space, for three launches on its orbital rocket Electron.Financial terms were not disclosed.The missions are scheduled to begin in late 2027, with each launch deploying one QPS-SAR satellite into a 575-kilometer low Earth orbit that will continue the build out of iQPS' constellation.Rocket Lab shares were more than 7% higher in Thursday trading.Price: $62.85, Change: $+4.25, Percent Change: +7.25%
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Wire
Update: Rocket Lab Shares Rise After Winning $266 Million Air Force Contract for Suborbital Launch
(Updates with the latest stock price movement in the headline and first paragraph.)Rocket Lab (RKLB) shares rose 1.5% in Wednesday trading, a day after the company won an Air Force contract.The company was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said Tuesday.Work for the Air Force project is expected to be completed by Dec.31, 2028, according to a statement.Price: $70.12, Change: $+1.00, Percent Change: +1.45%
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Wire
Top Midday Stories: Trump Threatens Retaliation for Attacks in Strait of Hormuz; AMD to Supply MI450 GPUs to Anthropic
The Dow Jones Industrial Average and the S&P 500 Index were up, while the Nasdaq Composite were down in late-morning trading Wednesday as the US and Iran continued to exchange attacks and threats in the Middle East.President Trump issued another warning against Iran, threatening to retaliate against every attack on ships in the Strait of Hormuz. "From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran," Trump said in a post on Wednesday. Meanwhile, Iran-backed Houthi militants in Yemen are prepared to attack vessels transiting the Red Sea's southern access point, which is an alternative route to the Strait of Hormuz, according to a CNBC report citing the Joint Maritime Information Center.In company news, Advanced Micro Devices (AMD) and Anthropic are collaborating deploy up to 2 gigawatts of AMD Instinct MI450 Series GPUs in AMD Helios rack-scale systems, with the first deployment planned for the first half of next year, AMD said Wednesday. The companies have also launched a multi-year engineering collaboration to use Anthropic's Claude models to optimize workloads for AMD Instinct GPUs and accelerate development of AMD's ROCm software. AMD shares were up 2.1% around midday.Philip Morris International (PM) reported Q2 adjusted earnings Wednesday of $2.20 per diluted share, up from $1.91 a year earlier and above the FactSet consensus analyst estimate of $2.03. Q2 net revenue was $11.19 billion, up from $10.14 billion a year ago and above the FactSet consensus of $10.60 billion. For Q3, the company said it expects adjusted EPS of $2.20 to $2.25. Analysts expect $2.42. For full-year 2026, Philip Morris updated its adjusted EPS guidance to a range of $8.26 to $8.41, down from its previous guidance of $8.36 to $8.51. Analysts expect $8.36. The company's total shipment volume for the quarter increased by 2.5% to 205.2 billion units, buoyed by growth of 7.5% in smoke-free products. Shipment volume for cigarettes was up 1.1%, while electronic vapor jumped 55%. Heated tobacco unit shipment volume climbed 7.6% to 41.8 billion units. "With a robust first half under our belt, including continued momentum and strong results in our smoke-free business, we are well positioned to deliver on our full-year targets while investing for future growth," Chief Executive Jacek Olczak said. Philip Morris shares were up 2.7%.GE Vernova (GEV) reported Q2 earnings Wednesday of $2.47 per diluted share, up from $1.86 a year earlier and below the FactSet consensus analyst estimate of $3.18. Q2 total revenue was $11.10 billion, up from $9.11 billion a year ago and above the FactSet consensus of $10.80 billion. For 2026, the company increased its 2026 revenue guidance to a range of $45.5 billion to $46.5 billion, up from the previous outlook of $44.5 billion to $45.5 billion. Analysts expect $45.43 billion. GE Vernova shares were down 6.6%.Rocket Lab (RKLB) was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said late Tuesday. Work for the Air Force project is expected to be completed by Dec. 31, 2028. Rocket Lab shares were up 5%.AT&T (T) reported Q2 adjusted earnings Wednesday of $0.65 per diluted share, up from $0.54 a year earlier and above the FactSet consensus analyst estimate of $0.59. Q2 operating revenue was $31.56 billion, up from $30.85 billion a year ago and below the FactSet consensus of $31.80 billion. For full-year 2026, the company said it continues to expect adjusted EPS of $2.25 to $2.35. Analysts polled by FactSet are looking for $2.32. The company said it "delivered a record quarter for combined fiber and fixed wireless net adds and its strongest consumer postpaid wireless account growth in more than three years." AT&T added 432,000 net postpaid phone subscribers in the quarter, higher than the consensus on FactSet for 338,500 additions. Further, revenue in the advanced connectivity segment rose 4.1% to $28.62 billion, driven by a gain of 5.1% in services, while wireless service revenue grew 3.3%, buoyed by retail subscribers in underpenetrated categories and converged accounts, as well as pricing actions. AT&T shares were up 3.2%.Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at $1.5 billion, the companies said Wednesday. BioLife shareholders will receive $11.25 per share in cash and 0.1442 Repligen shares, valuing BioLife at $31 per share, or about $1.5 billion, representing a 24% premium to its 90-day volume-weighted average share price, under the agreement. Repligen said the deal is expected to be accretive to revenue growth, adjusted margins and adjusted earnings per share, with at least $20 million in cost synergies in the first year. The transaction is expected to close in Q4. Repligen shares were up 3.5%, while BioLife shares were up 7.5%.Price: $555.06, Change: $+10.63, Percent Change: +1.95%
$AMD$BLFS$GEV$PM$RGEN$RKLB$T
US Markets
Stocks Fall Pre-Bell Ahead of Alphabet, Tesla Earnings
The main US stock measures were pointing lower in Wednesday's premarket activity as investors await the latest financial results of technology giants Alphabet (GOOG, GOOGL) and Tesla (TSLA) and monitor the ongoing Middle East conflict.The S&P 500 declined 0.3%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.7% before the opening bell. The indexes ended Tuesday trading higher following a three-day slump.Google parent Alphabet and electric vehicle manufacturer Tesla are scheduled to report their quarterly earnings after the markets close, along with Texas Instruments (TXN), IBM (IBM), ServiceNow (NOW) and CSX (CSX).Philip Morris International (PM), GE Vernova (GE), AT&T (T), Northern Trust (NTRS) and RPM International (RPM) are expected to post their results before the bell, among others.West Texas Intermediate crude oil gained 4.2% to $87.91 a barrel in premarket action, while Brent increased 4.1% to $94.76.The US Central Command said Tuesday its forces completed another round of strikes against Iran as part of attempts to degrade its ability to threaten commercial ships in the Strait of Hormuz.At the ASEAN foreign ministers' meeting in the Philippines on Wednesday, US Secretary of State Marco Rubio accused Iran of not being serious about peace talks with the US, CNBC reported.Rubio reportedly said a key sticking point in talks with Iran was Tehran's demand for the right to control traffic through the Strait of Hormuz, arguing that allowing any country to control an international waterway would set a dangerous precedent.Treasury yields were mixed before the open, with the two-year rate down 0.1 basis points to 4.26% while the 10-year rate inclined 0.2 basis points to 4.63%.In a social media post on Tuesday, President Donald Trump said the import of all generic drugs into the US will be subject to zero tariffs for a two-year period, effective Aug. 1. Tariffs on the drugs would then rise to 100% for one year before increasing to 200% thereafter, according to Trump."This is done in order to reshore generic pharmaceutical production into America, with a penalty to those companies that decide not to build plant and equipment within the stated period of time given to them," Trump said.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Shares of Super Micro Computer (SMCI) jumped 17% before the bell after the company said it received more than $60 billion in new orders during its fiscal fourth quarter and raised its gross margin outlook. Dell Technologies gained 4.6% after closing the previous session up 6%.Alaska Air (ALK) decreased 1.3% as the airline issued a downbeat third-quarter earnings outlook and swung to a second-quarter loss. Rocket Lab (RKLB) advanced 4.5%.Gold traded up 1.2% at $4,124 per troy ounce, while bitcoin was down 0.7% at $65,922.
Dow JonesNasdaq CompositeS&P 500$ALK$CSX$DELL$GE$GOOG$GOOGL$IBM$NOW$NTRS$PM$RKLB$RPM$SMCI$T$TSLA$TXN
Wire
Rocket Lab Wins $266 Million Air Force Contract for Suborbital Launch
Rocket Lab (RKLB) was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said Tuesday.Work for the Air Force project is expected to be completed by Dec.31, 2028, according to a statement.
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Research
Piper Sandler Initiates Rocket Lab at Neutral With $83 Price Target
Rocket Lab (RKLB) has an average rating of buy and mean price target of $119.07, according to analysts polled by FactSet.
$RKLB
Insider Trading
Rocket Lab Insider Sold Shares Worth $286,410,196, According to a Recent SEC Filing
Peter Beck, Director, Chief Executive Officer, on July 06, 2026, sold 3,275,779 shares in Rocket Lab (RKLB) for $286,410,196. Following the Form 4 filing with the SEC, Beck has control over a total of 2,216,151 common shares of the company, with 491,930 shares held directly and 1,724,221 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1819994/000200101126000109/xslF345X05/edgardoc.xml
$RKLB
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
Wire
Top Midday Gainers
Universe Pharmaceuticals (UPC) said late Friday it agreed to acquire Best Praise International for about $10.8 million.Shares of Universe Pharmaceuticals almost quadrupled as intraday trading volume catapulted to over 47.6 million from a daily average of about 362,000.Decoy Therapeutics (DCOY) agreed to a private placement of about $3.5 million with a single healthcare-focused institutional investor, according to its statement late Friday.Shares soared 87% amid a surge in intraday trading volume to over 11.7 million from a daily average of roughly 19,000.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, the companies said in a joint statement on Monday.Shares of Rocket Lab jumped 15% following an increase in intraday trading volume to over 28 million from a daily average of about 27.5 million.Price: $12.10, Change: $+9.14, Percent Change: +308.78%
$DCOY$RKLB$UPC
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