BlackBerry tumbles on ugly sales outlook

BlackBerry, the Canadian smartphone turned cybersecurity and software company, is tumbling double digits in premarket trading despite posting slightly better-than-expected fourth-quarter earnings per share and revenues.

The culprit: lackluster full-year guidance, with management looking for revenues of $504 million and $534 million, compared to Wall Street’s call for a little over $550 million in sales. In fact, the high end of BlackBerry’s projected revenue range was only $2 million higher than the lowest analyst forecast for sales.

Shares of BlackBerry had been up as much as 60% before US stocks peaked in February, but erased all their gains ahead of this report amid a punishing pullback in the broad market, especially for tech stocks.

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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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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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