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Wire

Virgin Galactic Receives Final Approval to Settle Derivative Claims

Virgin Galactic (SPCE) said Tuesday it has been granted final approval by the U.S. District Court for the Eastern District of New York to resolve all claims pending in shareholder derivative actions in two lawsuits.As part of the settlement, Virgin's insurers will pay about $2.8 million to the company, with half to be retained by Virgin and the other half to be paid to plaintiffs' counsel for attorneys' fees and costs, according to a statement.Virgin said there was no finding of wrongdoing by the company or any of its directors or officers in relation to the settlement. All claims in the actions, as well as related claims based on their allegations, have been released.Price: $3.08, Change: $-0.04, Percent Change: -1.28%

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Wire

Top Midday Decliners

SL Science (SLBT) reported a 2025 net loss late Thursday that was wider than a year earlier amid a decline in revenue. The US equity market was closed on Friday for the Juneteenth public holiday.Shares slumped 18% on Monday, with intraday trading volume exceeding 266,000 versus a daily average of roughly 660,000.Virgin Galactic (SPCE) said in a regulatory filing Monday that it has entered into a private agreement with a holder of its 2.50% convertible senior notes due 2027 to exchange around $52.5 million in principal for shares.Shares dropped 11%, with intraday trading volume at more than 18.9 million from the stock's daily average of about 29.7 million.Alphabet (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday.Class A shares of Alphabet declined 5.6%, with intraday trading volume at nearly 31.4 million from a daily average of over 29.8 million.Price: $4.74, Change: $-1.05, Percent Change: -18.08%

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Research

Research Alert: Virgin Galactic Revenue Drops; Continues To Focus On First Commercial Flights

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Virgin Galactic reported a Q1 2026 net loss of $65M, improving from $84M in the prior year, with a $0.81 loss per share beating consensus estimates of $0.94. Operating expenses declined 26% to $66M, reflecting disciplined cost management as the company transitions from design to spacecraft manufacturing. The firm achieved a key milestone by transferring its first spaceship to the test facility, with ground validation testing underway. Management maintains Q3 2026 aerial testing and Q4 2026 commercial launch targets, while opening sales for 50 expeditions at $750k each. We believe the upcoming flight testing campaign will be crucial in determining whether Virgin Galactic can meet its commercial timeline and generate meaningful cash flow. The company holds $251M in cash but faces a $93M free cash flow deficit, though improved from $122M last year. Recent debt optimization reduced obligations to $202M maturing in 2028, positioning the firm for its expected transition to revenue generation in Q4 2026.

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