Markets
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Matt Phillips

Talen Energy up on addition to S&P MidCap 400

Talen Energy jumped Tuesday after it was tapped to take the place of Interactive Brokers in the S&P MidCap 400 Index as a result of the options trader being calling up to the blue-chip big leagues.

Talen is a Texas-based power producer and distributor best known for signing a deal to provide nuclear power for Amazon data centers in Pennsylvania.

The stock has been a cornerstone of the AI power trade. But more recently, the relentless demand for power to feed data centers shows signs of pushing consumer prices up more broadly.

That’s putting power producers — especially those like Talen with growing footprints in data-center-heavy parts of the country — in the catbird seat from a pricing perspective, which the market seems to love. (Other AI power plays include Vistra, Constellation Energy, NRG, and GE Vernova, a maker of turbines for power plants that’s up almost 90% this year.)

For their part, Talen shares are also up nearly 90% so far in 2025 and have gained more than 600% over the last two years.

That two-year run has created some $15 billion in market wealth, giving Talen a market cap of more than $17 billion. It’s this expansion that qualifies Talen for inclusion in the S&P MidCap 400, which requires companies to be worth between $8 billion and $23 billion to be added.

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Luke Kawa
7/13/26
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J. Edward Moreno

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.

Luke Kawa
7/2/26
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.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets
Paige Oamek

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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