US Rate Hike Worries Persist
Wall Street is preparing for a major launch. While SpaceX moves toward its own IPO, other firms connected to the burgeoning space sector are already seeing significant market movement. Innio (INIO) jumped 23.33% following the completion of a US$2.43b initial public offering consisting of 90,000,000 common shares.
Reddit (RDDT) rose 8.51% after analysts at Loop Capital reaffirmed a Buy rating and established a price target of US$260.
Blackstone (BX) shares increased by 7.50% as the market weighed the firm’s involvement in the US$36b debt financing package for Anthropic.
Ciena (CIEN) dropped 13.66% as the company released earnings and guidance following a period of strong performance earlier this year.
Broadcom (AVGO) fell 12.59% as shareholders responded to inconsistent AI projections and a downgrade related to Google chip production.
Micron Technology (MU) saw its stock price decline by 7.74%.
