Market
June 29, U.S. stocks opened firmly higher: the Dow Jones added 0.3%, the S&P 500 rose 0.6% toward record territory and the tech-heavy Nasdaq rallied 1.0% as investors embraced risk ahead of key inflation data and quarter-end rebalancing.
Universe Pharmaceuticals Inc. skyrockets 354.7% after blockbuster trial results; Rocket Lab USA, Inc. soars 10.4% on a fresh NASA launch award; Viomi Technology Co. leaps 10.0% on a go-private bid; AST SpaceMobile, Inc. climbs 9.0% after sealing an AT&T roaming pact; Regencell Bioscience Limited jumps 9.9% on an FDA breakthrough filing; MMTec, Inc. gains 5.4% on blockchain expansion; Kingsoft Cloud Holdings Ltd advances 5.0% with a major AI cloud contract; Strategy rises 5.6% alongside Bitcoin strength; Broadcom adds 2.3% after raising guidance; Tesla Motors ticks up 1.4% on record quarterly deliveries.
Chip names mostly extended recent gains as NVIDIA added 0.7%, Advanced Micro Devices rose 0.5% and Marvell Technology firmed 1.3%, while Western Digital gained 1.9% on a planned flash spin-off. Offsetting the strength, Intel slipped 1.3% on a reduced outlook and Micron Technology eased 1.4% amid memory-price concerns. ETFs followed suit with Invesco QQQ up 1.1% and ProShares UltraPro QQQ rallying 3.6%.
News
NASA awards Rocket Lab USA, Inc. $225 million Mars mission contract; shares jump 10.4%. The deal expands Rocket Lab’s government pipeline and underscores its deep-space capabilities. Management expects launches to begin in 2028, boosting long-term revenue visibility.
Universe Pharmaceuticals Inc. reports successful Phase 3 eczema drug results; stock soars 354.7%. The traditional Chinese medicine developer met key endpoints, paving the way for an FDA submission. Analysts say the data could transform the company’s growth trajectory.
AST SpaceMobile, Inc. signs five-year global roaming pact with AT&T; shares pop 9.0%. The agreement will enable direct-to-cell satellite service for AT&T customers worldwide. Investors see the deal accelerating revenue once the BlueBird constellation is fully deployed.
Viomi Technology Co. receives $1.10-per-share privatization proposal; jumps 10.0%. The bid from the founder values the smart-home maker at roughly $600 million. A special committee of independent directors will review the offer.
Regencell Bioscience Limited seeks FDA breakthrough tag for ADHD therapy; up 9.9%. Early data showed significant symptom reduction in pediatric patients. A breakthrough designation would speed regulatory review and potential market entry.
Kingsoft Cloud Holdings Ltd wins $300 million AI infrastructure contract; rises 5.0%. The multiyear deal with a leading EV manufacturer boosts Kingsoft Cloud’s revenue backlog. Management cited growing demand for generative-AI services.
Intel trims Q3 sales outlook on soft PC demand; slips 1.3%. The chip giant warned of continued weakness in enterprise spending. Capital-expenditure plans remain intact as it doubles down on foundry expansion.
Micron Technology falls 1.4% as analysts flag looming DRAM price pressure. Supply chain checks point to improving inventory levels that could cap margins. Several brokerages trimmed price targets while maintaining positive long-term views.
Western Digital to spin off flash memory unit in tax-free deal; stock up 1.9%. The separation aims to unlock shareholder value and sharpen strategic focus on HDD solutions. Completion is targeted for mid-2027.
U.S. 10-year yield eases to 3.68% before PCE inflation report; tech shares benefit. Softer rates boosted growth-oriented sectors, helping the Nasdaq outperform at the open. Traders see reduced odds of additional Fed tightening this summer.
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