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Claire Yubin Oh5/19/26

ServiceNow rises after Bank of America analysts reinstate as a “buy” with a $130 price target

ServiceNow is up 4% in early trading on Tuesday, after Bank of America analysts reinstated coverage of the stock with a “buy” rating and a $130 price objective.

Now seeing the company as an “AI beneficiary given its entrenched workflow position,” Bank of America analysts led by Tal Liani wrote that “AI increases the need for governance, positioning ServiceNow at the center of workflow orchestration and control.” Replacing NOW with new AI tools, which has been the primary concern for many investors who have dumped the stock this year (the company’s earnings being the latest example), will be “costly and complex,” considering the company’s “deeply embedded mission-critical position” within existing enterprise workflows, according to BofA’s analysts.

The threat of AI agents, which can autonomously do tasks once set up, might actually lead to more demand for ServiceNow’s products, with Liani writing that agentic AI deployments “would elevate the need for orchestration, permissions, approvals, policy enforcement and auditability, aligning directly with ServiceNow’s core capabilities and making it the orchestration layer in an AI-driven cycle.”

The team also highlighted how ServiceNow’s recent initiatives would benefit from AI, rather than being threatened:

“...we see the company capturing incremental value as AI adoption scales: AI Control Tower defines the strategic role; Action Fabric provides the connective layer into workflows; hybrid pricing creates the monetization model; and the Armis/Veza acquisitions strengthen the security and identity context.”

That’s a much-needed vote of confidence for NOW, which has seen its shares drop more than 40% in 2026 until the past week’s uptick. Other software peers like Workday, Atlassian, HubSpot, and Intuit are also in the green before the bell on Tuesday.

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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%

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

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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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