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Matt Phillips

AST SpaceMobile rises on launch plans for new satellite

AST SpaceMobile rose after announcing launch plans for the first of its next-generation satellites next month, as it tries to execute its plan to offer satellite-based broadband service directly to consumers.

The services-from-space trade has been a popular market theme this year, with companies like AST SpaceMobile, EchoStar, Rocket Lab, and Planet Labs all periodically soaring on updates related to their partnerships and launch plans that might allow them to offer broadband and mobile telephone coverage directly to consumers from space.

AST SpaceMobile’s new satellite, the Bluebird 6, is larger than its predecessor, enabling larger amounts of data transmission and bringing the the services-from-space business closer to reality, the company says.

“Our next-generation satellites will soon enable ubiquitous cellular broadband coverage direct to everyday smartphones from space,” Abel Avellan, founder, chairman, and CEO of AST SpaceMobile, said in a statement.

The company, like competitors Rocket Lab and Planet Lab, remains unprofitable and is expected to post quarterly losses for the next two years, at least.

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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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Meta surges on report it’s starting a cloud business to sell excess AI compute

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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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