All articles tagged with #wall street
SK Hynix’s US Nasdaq listing aims to raise about $28bn, with underwriters set to collect roughly $140m in fees, potentially making it one of Wall Street’s largest public-offering windfalls as demand for memory chips from AI data-centres drives the market.
SpaceX’s IPO has sparked a wave of bullish analyst coverage, with average targets around $236.45—about 58% above SPCX’s close—driven by bets on Starship reusability, higher payloads, and SpaceX’s broader space infrastructure ambitions. Underwriters from leading banks are optimistic, but valuations hinge on executing ambitious milestones and the scale of future capital needs.
SpaceX’s SPCX stock has slid to about $149 per share after roughly three weeks of trading, dipping below its IPO opening price even as a wave of bullish ratings from major banks (e.g., JPMorgan, Morgan Stanley, Goldman Sachs and others) arrive, with targets that signal upside as SpaceX enters the Nasdaq 100.
SpaceX's SPCX has traded for about three weeks and sits roughly at its debut price, even after a roughly 5% drop today. A wave of bullish initiations from major banks (JPMorgan, Morgan Stanley, Goldman Sachs, Bernstein, RBC, Macquarie and others) with targets up to $300 per share signals strong confidence in SpaceX’s multi-segment moat—launch economics, a large LEO satellite network, and AI compute opportunities—across launch, connectivity, and orbital data centers.
SpaceX’s historic IPO propelled the rocket company onto the Nasdaq 100, triggering fresh, highly optimistic analyst coverage after the quiet period ended. Morgan Stanley started with an overweight rating and a $300 target, while RBC ($225), UBS ($210), BTG Pactual ($225), and Stifel ($190) issued bullish notes. Analysts project multi-trillion-dollar revenue potential by 2030–2040 driven by space, Starlink, and AI ventures, even as the company still posts losses; SpaceX briefly hit a $2.9 trillion valuation before retreating to below $2 trillion after the debut, with the stock opening around $159.
U.S. stock indexes’ futures edged higher on Monday after a holiday week, with S&P 500 futures up about 0.4% and Nasdaq-100 futures up roughly 1%, while Dow futures were little changed. Last week’s gains—Dow around 2%, S&P 500 about 1.8%, Nasdaq around 2.1%—came as softer June payroll data eased near-term rate-hike fears, even as AI-name valuations continue to attract scrutiny. Traders are awaiting the Fed’s June meeting minutes on Wednesday and monitoring early second-quarter earnings from Levi Strauss, PepsiCo and Delta Air Lines, while oil prices drift lower following another OPEC+ output boost.
SpaceX’s June 12 IPO priced at $135 and opened around $150, briefly vaulted toward $226 intraday, and closed near $202, unleashing one of the busiest and most volatile trading days in recent memory. Retail investors led net buying, with firms like Charles Schwab noting it as among their most active IPOs, and SpaceX’s market value briefly topping Amazon and Microsoft. The stock is joining the Russell 1000 and Nasdaq 100, fueling ETFs and options trading while Elon Musk’s public persona amplifies enthusiasm. Analysts caution volatility may persist as investors bet on SpaceX’s long‑term growth (rockets, Starlink, AI) and profitability, even as it remains outside the S&P 500 for at least a year.
JPMorgan’s CEO succession is shaping up as a merit-based contest, with Rohrbaugh and Petno installed as co-presidents and Marianne Lake sidelined, despite past DEI emphasis; while a woman could still lead in the future, the board’s pick remains unsettled and long-time leaders like Mary Erdoes and Piepszak are being retained with large incentives.
U.S. equities advanced on Friday amid broad gains, but a sharp slide in AI-related stocks kept the week’s performance negative for many indices. Apple flagged price hikes on laptops and other memory-heavy products to offset higher memory costs, while ON Semiconductor slid about 23.6% after announcing a Synaptics deal. Bond yields eased as inflation expectations cooled, and Asian markets weakened on AI-related headwinds, highlighting the uneven rhythm of the AI-driven rally.
U.S. stock futures slipped after a weak session as investors weigh ongoing US-Iran talks and AI-trade dynamics: Dow futures down about 0.5%, S&P 500 futures around 1.2% lower, and Nasdaq-100 futures roughly 2.1% lower. SpaceX (SPCX) slid for a third day amid broad tech weakness, while earnings are on tap this week from FedEx and Cerebras; Micron (MU) earnings and May PCE inflation data loom later in the week.
Federal Reserve Chair Kevin Warsh delivered a hawkish message that inflation remains the top concern, prompting markets to abandon bets on rate cuts and price in possible hikes later this year, with analysts flagging September as a likely window for action and warning of higher borrowing costs for consumers and the government.
SoFi, led by Anthony Noto, grew from a student-loan startup into a tech-forward bank with a broad product lineup and a near $40 billion valuation, but its stock slump and a scathing Muddy Waters report have investors questioning its accounting and profitability, blurring the line between a high-growth fintech and a traditional lender.
Wall Street opened mixed as investors awaited details of the U.S.–Iran interim peace deal: the S&P 500 slipped about 0.2%, the Nasdaq fell around 0.5%, while the Dow rose to a record above 52,000; SpaceX extended its rally after last week’s debut, pushing its valuation toward that of Alphabet, Apple and Nvidia. Brent crude slid below 80 as oil cooled, while traders geared up for the Federal Reserve’s two‑day meeting and other central‑bank moves.
A Bloomberg feature argues that after years of shrinking public float, the U.S. stock market may soon see a surge in equity issuance—IPOs, secondary offerings and other share sales could add about $1.5 trillion to the market over the next two years, potentially reversing a long-standing tailwind. SpaceX, OpenAI, and Anthropic are highlighted as leading controllers of this AI-driven funding wave as companies look to equities rather than buybacks or private funding to finance growth.
JPMorgan is staging a space-themed, invite-only celebration for about 250 SpaceX employees at its Park Avenue headquarters to mark SpaceX's blockbuster IPO, featuring a top‑floor light show, a space-inspired dinner, and an opportunity for the bank to deepen relationships with potential wealthy clients as it runs the IPO books.