markets

Max Knoblauch3/2/26

Archer reports deeper-than-expected Q4 loss

Air taxi maker Archer Aviation reported its fourth-quarter earnings results after the bell on Monday. Its shares fell 2.4% after-hours, eating into some of the gains the stock made in the regular session.

The company posted a loss of $0.26 per share, compared to the $0.24 loss per share expected by analysts polled by FactSet.

Archer ended 2025 with $1.96 billion in cash and cash equivalents, up from Q3’s $1.64 billion and up from $834.5 million in the same quarter the year prior.

Looking ahead to the first quarter, Archer said it expects adjusted earnings before interest, taxes, depreciation, and amortization of between -$160 million and -$180 million. Wall Street expected EBITDA of -$104.7 million in Q1.

Last week, Archer announced that it would partner with SpaceX’s Starlink to bring satellite internet into its Midnight aircraft. In its fourth-quarter shareholder letter, the company said it is targeting its first passenger flights this year, mirroring rival Joby’s timeline.

In a sign that investors, like CEO Adam Goldstein, see Archer’s most promising near-term opportunity in its defense business, its shares closed up more than 5% on Monday as investors scooped up defense contractor stocks. Goldstein told Sherwood News last year that he sees defense, with a focus on the autonomous and attritable industry, as the company’s “front and center” division for the next decade. Per the company’s shareholder letter:

“Our partnership with Anduril is at the core of our defense strategy, and it continues to accelerate. We are designing an autonomous, hybrid-electric VTOL aircraft built for dual use. For defense, it will fly alongside armed reconnaissance attack helicopters as a loyal wingman. The aircraft is designed to meet the needs of the U.S. and its allies for decades to come.”

Electric aircraft rivals Beta Technologies and Joby Aviation also ended the day higher.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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