markets

Luke Kawa11/10/25

Plug Power soars on planned collaboration with US data center developer, highlighting its “growing presence in the rapidly expanding” sector

Shares of Plug Power are jumping double digits as of 7:30 a.m. ET after the hydrogen fuel cell company announced that it “has signed a non-binding Letter of Intent to monetize its electricity rights in New York and one other location and collaborate with a US data center developer.”

Access to energy has emerged as the key bottleneck in the US AI boom, as recently highlighted by Nvidia CEO Jensen Huang and Microsoft CEO Satya Nadella.

Management highlighted that expanding Plug’s footprint in the “rapidly expanding data center sector” by offering backup power solutions is a priority for the company.

In October, HC Wainwright analyst Amit Dayal spotlighted Plug’s potential role in providing power to data centers, upping his price target to $7 from $3, the highest on Wall Street, which set off record call activity in the stock.

Amid rising energy demand, Plug’s offerings begin to look “increasingly price-competitive and case for adoption becomes stronger,” he wrote. Peer Bloom Energy has also cashed in on the AI boom, striking a deal to deliver power to some of Oracle’s data centers, which accelerated the stock’s surge.

In the press release, Plug also noted that it expects to generate more than $275 million in “liquidity improvement” through monetizing assets (like the aforementioned electricity rights in New York and elsewhere), the release of restricted cash, and lower maintenance expenses. Management added that they are suspending activities related to the Department of Energy loan program (which was going to be used to increase hydrogen production), saying that its July announcement for hydrogen supply reduced its need to produce more itself.

The company is slated to deliver its Q3 results today.

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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.”

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.

markets

Jake Lahut6/29/26

Comcast shares rise on news of NBCUniversal spinoff deal

Comcast rose on the news that the telecom behemoth is spinning off NBCUniversal and Sky from its cable portfolio.

Comcast initially jumped up to 17% in early trading, with the deal leaving management to focus on its core verticals of cable, wireless, and business services.

NBCUniversal and Sky will form a new publicly traded company, similar to Versant Media, the holding company of CNBC and MS NOW that Comcast officially spun off in January. Bravo, one of the most lucrative properties that remained at Comcast, will remain part of NBCUniversal in the deal. The Universal theme parks and studios will also come with the new spinoff entity, along with Telemundo and Peacock.

Mike Cavanagh, the co-CEO of Comcast, will become the CEO for NBCUniversal, according to CNBC.

The spinoff will be completed in about a year, according to a Comcast company statement. Its shareholders will also own shares in NBCUniversal, according to the same statement.

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