markets

Helena Cheng6/16/26

Eos Energy surges on commercial launch of second battery production line

Eos Energy Enterprises is surging in early trading after announcing the official start of commercial production at its second automated battery manufacturing line.

In a statement, the company said this milestone positions it to scale production of its proprietary zinc-based long-duration energy storage systems to meet rising commercial demand.

Management touted the enhanced efficiency of this facility, with design upgrades slashing raw material travel by 86% and shortening the physical production line length by 40% compared to Line 1.

“Battery Line 2 demonstrates our ability to continuously improve as we scale,” said John Mahaz, Chief Operating Officer of Eos. “It validates that our manufacturing system can be replicated and scaled with discipline.”

The battery energy storage company confirmed that while subassemblies will continue coming online through the early third quarter, full production capacity is targeted for the fourth quarter of 2026. The ultimate goal is to hit an aggregate 4 gigawatt-hours of annual manufacturing capacity by the end of 2026. Management also highlighted that Battery Line 1 already surpassed its full-year 2025 output within the first 164 days of 2026.

Today’s announcement builds on recent operational momentum for Eos, which posted better-than-expected Q1 sales and announced a joint venture with Cerberus Capital Management in May. However, shares are still down 37% year to date.

For the full year, Eos still expects to achieve revenues between $300 million and $400 million, in line with its previously provided guidance.

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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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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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