markets

Tom Jones5/28/26

Google worker charged with using inside information to make $1.2 million on Polymarket

Polymarket trader “AlphaRaccoon” wasn’t just feeling lucky when he took positions related to Google’s year-end top search results late last year, but was instead using confidential data from his position inside the company, according to a criminal complaint filed in New York that was unsealed yesterday.

Michele Spagnuolo, a staff information security engineer at Google Zurich, per his LinkedIn profile, has been charged with money laundering, commodities fraud, and wire fraud, with the account reported to have made $1.2 million across various trades.

The complaint alleges that Spagnuolo used nonpublic information to place trades such as the rapper and alleged murderer D4vd being the No. 1 search on Google in 2025. When it was placed, Polymarket had assigned a “a near-zero probability” to that position.

As we noted late last year, the stakes involved and the volume of activity around this one specific subject aroused suspicion at the time, and the AlphaRaccoon (a username that was then changed to 0xafEe) account page now lies dormant as a key part of one of the first insider trading cases in the prediction market arena.

Google Employee Charged With Insider Trading

Google Employee Charged With Insider Trading

Michele Spagnuolo, a staff information security engineer at Google Zurich, per his LinkedIn profile, has been charged with money laundering, commodities fraud, and wire fraud, with the account reported to have made $1.2 million across various trades.

The complaint alleges that Spagnuolo used nonpublic information to place trades such as the rapper and alleged murderer D4vd being the No. 1 search on Google in 2025. When it was placed, Polymarket had assigned a “a near-zero probability” to that position.

As we noted late last year, the stakes involved and the volume of activity around this one specific subject aroused suspicion at the time, and the AlphaRaccoon (a username that was then changed to 0xafEe) account page now lies dormant as a key part of one of the first insider trading cases in the prediction market arena.

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markets

J. Edward Moreno7/7/26

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.

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

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

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.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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.”

markets

Helena Cheng6/29/26

Rocket Lab deal lifts space stocks

Shares of Rocket Lab are surging after announcing an $8 billion acquisition of satellite communications operator Iridium Communications, helping lift a broader basket of space-related stocks as investors piled back into the sector.

Planet Labs, AST SpaceMobile and Redwire all traded higher alongside Rocket Lab, extending gains in an industry that has drawn enhanced investor attention in recent months in light of the strategic importance that governments place on space and satellite communications infrastructure.

In a presentation, Rocket Lab’s management called the purchase “a shortcut” for its satellite communications business.

Under the terms of the agreement, Iridium shareholders will receive $27 in cash and Rocket Lab stock, valuing Iridium at $54 per share. Backed by a $3.6 billion bridge loan committed by Deutsche Bank and Wells Fargo, Rocket Lab absorbs Iridium’s globally licensed spectrum and an active base of 2.5 million subscribers.

Rocket Lab has also remained one of the most active launch providers in the sector. The company completed its 12th launch of the year last week, maintaining one of the highest launch cadences among commercial space companies.

Today's rally helps offset a brutal stretch for the group. Rocket Lab shares had fallen over 35% over the prior month, while Planet Labs stock was down more than 40% and AST SpaceMobile stock was down around 30% over the same window.

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