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Iridium Communications (NASDAQ: IRDM) shares surged 25% to close near their 52-week high after Rocket Lab (NASDAQ: RKLB) announced a definitive agreement to acquire the company for $54 per share.
Wedbush began coverage of Space Exploration Technologies (NASDAQ: SPCX) with an Outperform rating, setting a $190 price target that implies significant upside from current trading levels.
Nasdaq confirmed that Space Exploration Technologies (NASDAQ: SPCX) will join the Nasdaq-100 index on July 7, formalizing one of the most anticipated index additions of the year.
Reports that Space Exploration Technologies (NASDAQ: SPCX) is exploring a direct-to-consumer mobile service have unsettled investors across the wireless sector.
T-Mobile US (NASDAQ: TMUS) shares are rising sharply, outperforming the broader Communication Services sector after a brutal multi-day selloff tied to SpaceX and Starlink competition fears.
TD Cowen has raised speculation around a potential SpaceX acquisition of T-Mobile US (NASDAQ: TMUS), adding a new layer to an already volatile stock narrative.
Space Exploration Technologies (NASDAQ: SPCX) fell more than 6% as Nasdaq 100 futures slid at triple the pace of the S&P 500, dragged lower by rising Treasury yields and a soft ADP jobs report.
• Micron Technology and General Motors have signed a Strategic Customer Agreement covering long-term memory and storage supply.
• Roth Capital Raises Target to $130: The firm increased its price target from $100 while maintaining a Buy rating, citing the transformative Iridium acquisition.
• Wedbush Initiates at Outperform: Analyst Sam Brandeis started coverage with a $190 price target, calling SpaceX "one of the most differentiated assets" in tech.
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