News & Updates
The latest news and updates from companies in the WLTH portfolio.
Dow Jones Top Company Headlines at 7 PM ET: Walmart Further Shuffles Top Executives | SpaceX ...
Walmart Further Shuffles Top Executives Kieran Shanahan, chief operating officer for Walmart U.S., will leave this week. ---- SpaceX in Talks to Provide Computing Power for Pentagon's AI Push Elon Musk's company would provide billions of dollars' worth of data-center capacity under the arrangement, people familiar with the matter said. ---- Nvidia, Challenged by Apple, Narrowly Retains Wall Street's Crown The iPhone maker briefly became the U.S.'s most valuable publicly traded company on Friday. ---- China's Moonshot AI Releases Model to Challenge Top U.S. Systems The company says its model outperforms some cutting-edge U.S. systems, the latest sign that Chinese labs can rival American counterparts. ---- Taylor Farms Is Recalling Its Mexican-Grown Iceberg Lettuce From U.S. U.S. authorities have linked the lettuce to a parasitic outbreak across more than 30 states. ---- Travelers Scored an Earnings Beat. Were the Downgrades All Wrong? The insurer defied Wall Street's expectations, posting adjusted per-share earnings that were nearly double of what analysts projected. ---- Fifth Third Profit Boosted by Comerica Acquisition The Fifth Third Bank parent posted a profit of $763 million, or 83 cents a share, in the second quarter. ---- Truist Financial Earnings Beat Estimates but Eyes Are on Bank's Next Chapter Truist Financial delivered strong second-quarter earnings Friday, but investors may be more focused on what the leadership transition to incoming CEO Michael Lyons could mean for the bank's strategy. ---- GSK Shares Slide After Drugmaker Drops Chronic Cough Treatment GSK shares fell after the U.K. drugmaker said it would stop working on an experimental treatment for chronic cough after mixed results showed limited efficacy in late-stage clinical studies. ---- Volvo Car Expects Sales to Strengthen on European Growth, U.S. Recovery Volvo Car expects growth in Europe and a recovery in the U.S. to spur significantly stronger sales in the second half of the year, despite continued challenges in China. ---- Meta Plans to Hire Top Amazon Computing Executive as It Weighs Cloud Push Dave Brown, one of the most senior executives at Amazon Web Services, will bring his nearly two decades of experience to the social-media giant. ---- Burberry Reports Sales Growth as It Moves Forward With Turnaround Plan Burberry posted flat sales growth for its first quarter, but noted that it saw growth across divisions for the first time in three years. ---- Verizon to Cut About 3,000 Jobs, Divest Itself of Some Retail Stores The company plans to divest itself of 274 of its retail stores to franchise owners. Most of Verizon's layoffs would come from the retail-store divestiture. ---- Databricks Set to Hit $188 Billion Valuation With New Investment From Coatue The startup's valuation jumps 40% as the AI boom has driven demand for its data-analytics software. ---- Sweden's EQT Expects Strong Fundraising Momentum as It Posts Higher Net Profit The buyout group reported rises in net profit and revenue for the first half aided by higher fee-generating assets. (END) Dow Jones Newswires July 17, 2026 19:15 ET (23:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
SpaceX postponed a crucial launch - and its stock went on to close below IPO price for a second day
SpaceX's planned 13th Starship V3 rocket launch was scrubbed during its 90-minute window. Shares in SpaceX fell further below their initial-public-offering price Friday after the spacecraft manufacturer aborted an attempt to launch its Starship rocket. The Texas-headquartered company's stock (SPCX) fell more than 5% on Friday, on the heels of a 3% slide on Thursday, bringing its price more than $10 below where it launched on the Nasdaq on June 12. The stock is has lost steam for five days in a row. SpaceX shares ended at $131.11 a share on Thursday, closing below the $135-per-share IPO price for the first time. SpaceX had been set to execute its first launch since the IPO on Thursday, with a Starship take-off scrapped after its launch window opened at 6:45 p.m. Eastern time. CEO Elon Musk then confirmed the mission had been postponed, following an announcement during a livestream of the event that it had been cut short. "Some of the engines didn't start, triggering an automatic launch abort. Now offloading propellant. Next launch attempt hopefully in a few days," Musk wrote in a post on X. Musk later added: "To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week." The plan for Starship's 13th flight was to address problems seen during its previous flight and to carry and deploy 20 Starlink "Version 3" (V3) satellites. The Federal Aviation Administration gave SpaceX the go-ahead for its launch on Monday after closing an investigation into the company's 12th flight, which following a safe lift-off saw its Super Heavy booster crash into the Gulf of Mexico. The regulatory body ordered SpaceX to carry out an investigation that concluded with four actions, including software and hardware updates, to be completed. Analysts at Bernstein led by Douglas Harned wrote in a note on Friday that they viewed Starlink as "the key enabler" of SpaceX's growth in the future, but that it also represents a point of risk. They expect 3,543 launches of the 400-foot rocket in 2031, with about nine in 10 for the purpose of Musk's proposed orbital data centers. -Nora Redmond This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-17-26 1855ET Copyright (c) 2026 Dow Jones & Company, Inc.
SpaceX postponed a crucial launch - now its stock is set to slide even further below the IPO price
SpaceX's planned 13th Starship V3 rocket launch was scrubbed during its 90-minute take-off window. Shares in SpaceX were set to slide further below their initial public offering price after the spacecraft manufacturer aborted an attempt to launch its Starship rocket. The Texas-headquartered company's stock (SPCX) declined just over 3% in premarket trading on Friday, on the heels of a 3% slide on Thursday, bringing its price down to $126.58 - almost $9 lower than when it launched on the Nasdaq on June 12. The stock is set to lose steam for the fifth day in a row in what was to be the first flight since going public. SpaceX shares ended at $131.11 a share on Thursday, closing the $135 per-share IPO price for the first time. SpaceX's Starship was due for take-off 90 minutes after its launch window opened at 6:45 p.m. Eastern on Thursday. Ten minutes later, CEO Elon Musk confirmed the mission was postponed, following an announcement during a livestream of the event that it had been cut short. "Some of the engines didn't start, triggering an automatic launch abort. Now offloading propellant. Next launch attempt hopefully in a few days," he wrote in a post on X. Musk later added: "To be confident of a good flight, 2 Raptors will be removed & replaced. Most probable launch timing is early next week." The plan for Starship's 13th flight was to address problems seen during its previous flight, and to carry and deploy 20 Starlink "Version 3" (V3) satellites. The Federal Aviation Administration gave SpaceX the go-ahead for its launch on Monday after closing an investigation into the company's 12th flight, which following a safe lift-off, saw its Super Heavy booster crash into the Gulf of Mexico. The body ordered SpaceX to carry out an investigation that concluded with four actions, including software and hardware updates, to be completed. Analysts at Bernstein, led by Douglas Harned, wrote in a note on Friday that they view Starlink as "the key enabler" of SpaceX's growth in the future, but that it also represents a point of risk. They expect 3,543 launches of the 400-foot rocket in 2031, with about nine in 10 for the purpose of Musk's proposed orbital data centers. -Nora Redmond This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-17-26 0605ET Copyright (c) 2026 Dow Jones & Company, Inc.
Dow Jones Top Company Headlines at 9 PM ET: United Airlines Lifts Outlook as Higher Fares Blunt Turbulent Fuel Prices | SpaceX ...
United Airlines Lifts Outlook as Higher Fares Blunt Turbulent Fuel Prices The carrier said that adjusted earnings should hit $9 to $11 a share in 2026, lifting the low-end of its previous target by $2 a share. ---- SpaceX Shares Fall Below IPO Price for the First Time The rocket maker's stock slipped below $135 as the tech-heavy Nasdaq composite dropped. ---- BHP Annual Copper Production Falls; Iron Ore Output Notches Record High BHP Group said it produced a record amount of iron ore but less copper over the past year, and forecast a further drop in copper output in the year ahead as grades fall at a giant mine in northern Chile. ---- QVC Defeats Shareholder Challenge to $5 Billion Debt-Cutting Plan A Houston bankruptcy judge approved a disputed intercompany settlement that clears the retail network to exit chapter 11. ---- J.B. Hunt Reports Higher Profit As Revenue Grows Across Most Segments The logistics company reported a profit of $181 million, with its largest business segment reporting a 22% increase in revenue and a 10% increase in volume. ---- Conagra's 'Show-Me' CEO Says Every Product Needs to Earn Its Keep John Brase, who took over the company in June, is plotting a turnaround for the food giant. ---- Mira Murati's AI Startup Releases First Model in Bid to Loosen AI Giants' Grip Thinking Machines Lab CEO Mira Murati is betting on more customizable artificial-intelligence models to chip away at the lead of frontier labs such OpenAI and Anthropic. ---- Kalshi to Offer Contracts Predicting Flight Cancellations The contracts will allow users to predict the percentages of flights canceled at an airport within a given timeframe. ---- Patrick Drahi's Altice International Accused of Debt Default Lenders holding about $9 billion in bonds claim Patrick Drahi's telecom empire stripped away collateral through intercompany deals, sources said. ---- Stripe and Private-Equity Firm Advent Offer to Buy PayPal The deal would value the fintech company at around $53 billion. ---- BlackRock Shares Rally After Assets Soar Past $15 Trillion BlackRock reported profits rose 20% from a year earlier, and shares rallied almost 7%. ---- Conagra Swings to Loss, Cuts Dividend Under New CEO The maker of Orville Redenbacher's popcorn and Slim Jim swung to a loss in the fiscal fourth quarter and cut its dividend, as its new chief executive aims to strengthen the company with a more conservative spending strategy. ---- JPMorgan, BlackRock and Goldman to Tokenize Stocks, Treasurys Trade processor DTCC is launching a trial run with Wall Street firms to convert assets into digital tokens. ---- Morgan Stanley Posts Blowout Quarter Thanks to Blockbuster IPOs, Newly Minted Millionaires The bank reported adjusted second-quarter earnings of $3.46 a share, blowing past Wall Street forecasts thanks to a surge in investment banking revenue. (END) Dow Jones Newswires July 15, 2026 21:15 ET (01:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
SpaceX ushered in a 'new era' for investing in space. Why the stock is now cratering.
2026 has already broken records for investment in the so-called 'space economy' with half a year left to go Rocket-launch businesses can enable companies like SpaceX or Rocket Lab to pursue more lucrative markets, experts say. SpaceX has paved the way for the space industry to flourish, and its initial public offering drove investment to new heights. Space Capital, a venture-capital firm, reported Wednesday that some $31.6 billion had been invested in 129 companies in what it calls the "space economy" in the second quarter of 2026. That includes companies developing space-related infrastructure and those making hardware and software connecting and using space-based assets, as well as ventures that benefit from those assets. In just six months, 2026 is already a record-breaking year for investment in the sector, according to Space Capital. Both the first and second quarters of 2026 are the top periods ever tracked by the firm, which declared a "new era" for the space economy marked by the SpaceX (SPCX) IPO. Much of that investment is tied to dozens of infrastructure-related funding rounds. That includes the orbital-data-center startup Cowboy Space's $275 million fundraise and orbital-transfer-vehicle maker Impulse Space's $500 million fundraise. Prometheus, the Jeff Bezos-backed physical artificial-intelligence startup, raised $12 billion last month in the biggest round tracked by Space Capital for the quarter. It's reportedly pursuing technology for aerospace activities; Bezos' Blue Origin is also raising outside cash to fund its own space business. Space investing has grown over the last few decades, largely thanks to SpaceX, according to Space Capital's Chad Anderson. The company "made the space economy an investible category," he told MarketWatch, when it began flying the Falcon 9 rocket. Leading up to SpaceX's record-breaking IPO in June, space stocks surged. But those gains were sharply reversed last month, and losses have continued this month. After soaring 26.5% in May, the Procure Space exchange-traded fund UFO fell 22.4% in June and has so far shed 9.7% in July, according to FactSet. The Tema Space Innovators ETF NASA has shown comparatively steeper losses of 24% in June and 17% so far in July, per FactSet, after running up 36.7% in May. Anderson and others chalk the recent selloff to a case of "FOMO," which stands for "fear of missing out." First, that drove investment in public space companies while SpaceX lingered in the private market, then sold those stocks to buy SpaceX's newly minted shares. One expert previously told MarketWatch that space ETFs are feeling an "investment coma" as investors grapple with owning volatile space stocks. "People wanted access to SpaceX and they couldn't get it, and so they got similar exposure to other companies playing in the space," Anderson said. While there's "a lot of opportunity" with some of those companies, he said, some investors probably sold their shares to buy SpaceX, which has been volatile since its IPO. On both Monday and Tuesday, SpaceX nearly retreated to its IPO price of $135 a share, which valued the company at more than $1.7 trillion. The stock closed on Tuesday at $136.08 a share, down 32.6% from its June 16 closing price of $201.80. On Wednesday, the stock bounced 0.7% to get back to the $137 level in premarket trading. Don't miss: SpaceX's stock threatens to fall below the IPO price. Do investors face a 'crisis' if it does? "There's going to be even more volatility," Anderson said, citing the immense demand around the IPO and interest in SpaceX, the "apex player" in the space economy. Thanks to SpaceX's complicated lockup schedule, a large portion of insider-held shares is set to be released for trading next month. But if investors can stick it out, they could reap the rewards, analysts say. The average target price for SpaceX stock is $241.80 a share, according to the FactSet consensus, implying about 78% upside to Tuesday's closing price. And some analysts see potential in its rivals as well. KeyBanc analyst Michael Leshock sees room for Rocket Lab (RKLB) and Firefly Aerospace (FLY) to compete in "niche" markets for rocket launches, according to a note to clients last month. Both companies are currently working on new vehicles. Rocket Lab has also agreed to buy Iridium Communications (IRDM), its latest acquisition - one it called a "shortcut" to offering space-based applications. It somewhat mimics Amazon's purchase of Globalstar (GSAT) in April, which includes valuable spectrum licenses. Anderson said his firm expects to see more mergers and acquisitions in this quarter as space companies expand their offerings in search of profits. "Launch alone doesn't make a great business," he said. Most of SpaceX's revenue comes from its Starlink internet business, which comes from its rockets that send satellites into orbit. SpaceX has also agreed to buy an AI-coding startup to boost its Grok models. It also plans to eventually give its AI offerings a boost with space-based data centers. -William Gavin This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-15-26 0758ET Copyright (c) 2026 Dow Jones & Company, Inc.
The 179 ETFs That Own SpaceX
This article mentions funds that have an issuer-initiated rating and/or track a Morningstar Index. For full disclosure information, please refer to the specific funds, which are demarcated with a * symbol, listed below. Space Exploration Technologies Corp. SPCX made its public market debut on June 12 to much fanfare. There was more demand than shares available, helping the stock open $15 higher than its $135 IPO price and end its first day as a public company above $160. It quickly rose to a high of $225 on June 16, then fell back to earth, dipping near its IPO price the week of July 13. Hundreds of exchange-traded funds and mutual funds bought shares of Elon Musk's space and artificial intelligence company for the first time amid these fluctuations. SpaceX is now the cornerstone of a few ETF portfolios and a satellite position in many others. Some ETFs that own the stock might surprise you. While space-themed, technology sector, or growth ETFs are expected landing places for the $2 trillion company, it also found its way into several value ETFs, one quality ETF, a Jewish advocacy ETF, and numerous broad market index ETFs. In total, US ETFs own around $16 billion worth of the stock across 179 products. Here are the categories where those owners are concentrated. Expected Buyers of SpaceX Two ETFs account for almost half of that $16 billion. Invesco QQQ Trust QQQ and its cheaper sibling, Invesco Nasdaq 100 ETF QQQM, held a 1.21% stake in SpaceX on July 10. That amounts to over 48 million shares worth over $7 billion. As one of the largest stocks listed on the Nasdaq exchange, it makes sense for these Nasdaq-100 tracking index ETFs to own sizable positions. How they got that weighting, however, is another story, which is covered in more detail here and touched on later. Other ETFs like ARK Innovation ETF ARKK and Baron First Principles ETF RONB own sizable chunks. The managers of these active ETFs prize innovative companies, and the inclusion of SpaceX in their lineups was mostly a foregone conclusion. In fact, Baron Funds owned SpaceX in Baron First Principles ETF and other funds before it was a public company. Elsewhere, SpaceX stock makes appearances in several ETFs covering themes from space to artificial intelligence to innovative technology. It makes the cut in a number of growth-oriented ETFs and a handful of options income ETFs, too. Across all 179, Baron First Principles ETF carries the highest weighting at over 30%, as of July 10. Unexpected Buyers of SpaceX Companies like SpaceX test the rules of portfolio construction. And sometimes those rules don't yield the portfolio you'd expect. Recently, Micron MU unexpectedly became a 25% position in a value ETF, for example. SpaceX also found its way into several value ETFs. The stock claims small positions in each, but its presence is surprising, given concerns with the stock's lofty market cap relative to its total sales and negative net earnings. Negative earnings do funny things to price ratios commonly used by index funds to distinguish value stocks from growth stocks. Indexes usually employ several measures of value to avoid one outlier from bringing an otherwise growth stock into a value index, and vice versa. SpaceX seems to have slipped through some cracks. Stocks without a clear style distinction can be partially allocated between both the Russell 1000 Value and Growth indexes. As a brand-new public company, the stock doesn't have enough data to be firmly categorized as growth or value yet, so it lands near the midpoint for now. IShares Russell 1000 Growth ETF IWF holds a 0.22% stake. Schwab US Large-Cap Value ETF SCHV is a little different. Unlike most, the Dow Jones index it tracks uses a stock's price/earnings ratio as a component in its value scoring system. SpaceX's negative earnings skews its P/E ratio far to the value side of the board, likely resulting in its inclusion here. Other index families use the inverse, earnings/price, to sidestep this peculiarity. As an actively managed ETF, Fidelity Enhanced Large Cap Value ETF FELV doesn't have to adhere to an index's binary rules. If its managers don't think a stock belongs in the Russell 1000 Value Index, they can remove it. Fidelity's managers haven't yet removed SpaceX from its value portfolio. How Big Is SpaceX in Major Indexes? Even a small position in SpaceX means a large stake in the largest index funds. Vanguard Total Stock Market ETF's VTI total fund size of nearly $2.3 trillion means that it owns over $3.2 billion worth of SpaceX shares despite its 0.14% weighting at the end of June. In total, US index ETFs hold roughly 14% of SpaceX's outstanding free-float shares, or $13.3 billion of $93.6 billion free float. Several major broad market indexes tweaked their rules earlier this year to allow SpaceX early entry. Much ink has been spilled on the purpose and validity of these changes (including from me), but now that the dust has settled, SpaceX is a component in 82 broad market index ETFs. Still, the stock carries a very small position in most and no weight in a couple of notable bogies. Nasdaq's relatively narrow portfolio and unique weighting scheme give the stock much more attention than other widely followed index ETFs.
SpaceX's two lead underwriters have a $1 trillion chasm in their valuation as quiet period ends
Morgan Stanley sets $300 price target on Space as Goldman Sachs arrives at $205 What's SpaceX worth? Analysts at underwriters now have their say. The two lead underwriters on SpaceX's initial public offering, Goldman Sachs and Morgan Stanley, have a valuation gap of more than $1 trillion as they both initiated coverage at the equivalent of buy. Goldman Sachs analysts led by Eric Sheridan set a price target of $205 on the rocket-launching company, while Morgan Stanley analysts led by Adam Jonas set a $300 target, as the 25-day quiet period expired for SpaceX's underwriters. SpaceX (SPCX)closed Monday at $160.42, more than 25% below the post-IPO high of $225.64 but still above the IPO valuation of $135. The ironic aspect is that Goldman actually is forecasting better financial performance than Morgan Stanley. SpaceX won't become free-cash-flow positive until 2031 on Goldman's numbers, but is forecast to double revenue this year with adjusted earnings before interest, tax, depreciation and amortization reaching $352 billion, from last year's $6.58 billion, by the end of the decade. The Morgan Stanley team have a more conservative approach to the near term - they see SpaceX's adjusted EBITDA to be $162 billion by 2029, and they don't expect SpaceX to become free cash flow positive until 2035. The difference, then, is how they translate those estimates into a price target. Morgan Stanley discounts cash flow by each division over 15 years "with triangulation/support through multiples," while Goldman's valuation is based on 2029 numbers. Each team does acknowledge the gap between their numbers and the current reality. "Space is hard," say Jonas and team, as they say the outlook depends on several technologies not yet proven at commercial scale, like fully reusable Starships capable of hitting thousands of launches a year and orbital compute. Sheridan makes a similar point. "In many ways, SpaceX presents a track record of building toward solutions which many industry experts had previously viewed to be implausible (albeit with this execution not being as linear as public market investors typically desire), particularly with regard to their ability to be the low cost provider of various infrastructure as a service offerings," says the Goldman note. -Steve Goldstein This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 07-07-26 0420ET Copyright (c) 2026 Dow Jones & Company, Inc.