Instacart pops as it beats on top and bottom lines

Instacart shares jumped as the company posted better-than-expected results for the second quarter and gave a rosy outlook for third-quarter profitability.

The stock was up 7.3% in recent after-hours trading.

The grocery delivery platform reported earnings of $0.41 a share on revenue of $914 million, topping analysts’ expectations of $0.38 in EPS and revenue of $896 million, according to FactSet.

Total orders were up 17% from a year earlier and gross transaction value was $9.08 billion, up 11%.

The company also forecast Q3 adjusted EBITDA of $260 million to $270 million, compared to analysts’ expectations for $247 million.

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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.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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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.

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