🪂 Firefly’s earnings debut is a fail

Good evening. After a record-setting run, U.S. stocks pulled back as Fed Chair Jerome Powell warned that more rate cuts will come slowly and noted that stock prices are “fairly highly valued.”

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Market data: today’s market close

WINNERS

⬆︎7.34% Halliburton

Trump used a UN speech to call for a return to fossil fuels, arguing that renewable energy policies are hurting Western economies. Halliburton, the oilfield services giant, saw the sharpest reaction as analysts pointed to its exposure to the North American market and possible short covering. Exxon Mobil and Chevron also benefited. [Read more]

⬆︎4.47% Sempra

The electric and gas utility is making two big moves: selling a 45% stake in its Sempra Infrastructure Partners unit to KKR and Canada’s CPP Investments for $10B, and greenlighting a $14B expansion of its Port Arthur LNG project in Texas. The sale will help Sempra focus more on its core utilities, which are set to drive 95% of future earnings. [Read more]

⬆︎2.00% Boeing

The American planemaker just landed a $8B order from Uzbekistan Airways. The deal adds to Boeing’s backlog of aircraft and shows airlines in fast-growing regions still see its jets as reliable and efficient despite the company’s recent struggles. International wins like this aren’t just about sales, they’re proof it’s holding ground against Airbus. [Read more]

MORE WINNERS

⬆︎12.18% AST SpaceMobile
⬆︎11.61% Virgin Galactic
⬆︎1.59% Kenvue

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Market data: today’s market close

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LOSERS

⬇︎6.28% Vistra

The power producer got downgraded by Jefferies from Buy to Hold, with its price target cut to $230 from $241. The analyst still likes Vistra’s core business but flagged political risks in Texas and regulatory hurdles that could delay a long-awaited data center deal. [Read more]

⬇︎15.31% Firefly

🔔 Earnings report - Fresh off its IPO, the rocket startup is already facing turbulence. The company’s first earnings report showed widening losses, while its Alpha rocket program was grounded after a failed April launch that ended in the ocean. Regulators have since cleared Alpha to fly again, and management says fixes are in place as they prepare for the next mission. [Read more]

MORE LOSERS

⬇︎3.04% Amazon
⬇︎4.36% Oracle
⬇︎8.09% Baidu
⬇︎15.39% Opendoor

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Market data: today’s market close

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