markets

Helena Cheng5/13/26

Eos Energy Enterprises soars on joint venture with Cerberus for energy storage and Q1 revenue beat

Eos Energy Enterprises is surging in premarket trading after the company reported better-than-expected Q1 sales and unveiled a joint venture with a major alternative investment firm for battery energy storage projects.

The key Q1 numbers:

Revenue of $57 million (compared to analyst estimates of $54.27 million).
Adjusted earnings per share of $0.12 (estimate: a $0.20 loss), which was juiced by a noncash change in fair value based on the change in EOSE’s share price.

Concurrently with earnings, Eos and Cerberus Capital Management announced the formation of a joint venture called Frontier Power USA, which will be a stand-alone, purpose-built Independent Power Producer to be supplied through a 2-gigawatt-hour capacity reservation agreement with Eos.

“Frontier Power USA is expected to deploy this capacity across commercial and industrial applications, AI data centers, and utility-scale projects, drawing from a multi GWh project pipeline which is under active development,” per the press release.

To support the platform’s launch, Cerberus has committed $100 million in equity, and, to underscore its confidence in Eos, extended its stock lockup agreement through the end of 2026. Eos plans to launch a rights offering to raise $150 million to support this JV.

“The market is telling us what it needs: long-duration storage that is safe, American-made, and financeable at scale,” said Joe Mastrangelo, CEO of Eos. “We have the technology, the manufacturing, the controls, and now, with Frontier Power USA, the planned capital to accelerate project deployment.”

Last month, Eos also announced a joint development agreement with Turbine-X Energy. The partnership focuses on deploying zinc-based battery storage solutions for AI hyperscale data centers, with a target capacity of up to 2 gigawatt-hours beginning in 2027.

For the full year in 2026, Eos expects to achieve revenue between $300 million and $400 million, in line with its previously provided guidance.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

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.

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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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

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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