AI mega-deals are so last week. Arm $ARM ( ▼ 3.0% ) and Meta $META ( ▼ 0.19% ) unveiled a partnership to — stop me if you’ve heard this one before — scale AI efforts. The market shrugged. In fact, both stocks ultimately finished the day lower. If there’s one thing you can count on Zuckerberg to do, it’s show up late to the party.

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Western Alliance $WAL ( ▲ 2.06% ), Zions $ZION ( ▲ 3.67% ), and other regional banks fell in sympathy with Jefferies on fears of loose lending practices in private credit.

Micron Technology $MU ( ▼ 1.63% ) will benefit from a memory chip shortage, per UBS.

United Airlines $UAL ( ▲ 0.41% ) reported Q3 revenue below expectations.

JB Hunt $JBHT ( ▼ 2.35% ) delivered an impressive beat, bringing other truckers higher with it.

Hewlett Packard Enterprise $HPE ( ▲ 1.24% ) projected a lackluster fiscal year ending October 2026.

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📈 Upgrades

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Baird just ignited a fresh rally in Rocket Lab $RKLB ( ▼ 2.25% ).

The bank initiated coverage with an Outperform rating and an $83 price target — implying 24% upside from current levels. Analyst Peter Arment went even further, saying the stock could soar above $200 over the long run if its launch cadence and reusable rocket program develop as expected.

“SpaceX 2.0 primed for liftoff,” Arment wrote, noting that Rocket Lab’s growing position in the global launch market could make it a major player in the decade ahead. Is it time for Space Race 2: Electric Boogaloo?

Global space launches have grown roughly 22% annually since 2020 and are projected to keep climbing at a mid-teens pace through 2030. That growth is fueling demand for reliable and affordable launch providers — an area where Rocket Lab has already proven itself.

The company boasts a 94% mission success rate and a clean balance sheet, both of which Baird views as key strategic advantages. The company’s smaller Electron rockets already dominate the small-lift segment, while its upcoming Neutron model aims directly at SpaceX’s Falcon 9 in the mid-lift market.

Arment believes Rocket Lab’s $50 million Neutron rocket, scheduled for its first flight in late 2025 or early 2026, could meaningfully expand market share and drive long-term revenue growth.

Beyond launch services, Rocket Lab is vertically expanding through its Space Systems business, having completed five acquisitions since 2020. Baird says the company’s net cash position gives it flexibility for additional bolt-on deals.

We’re still far from mission accomplished. But if Baird’s projection holds true, Rocket Lab could soon move from small payloads to heavyweight returns — and investors may want to buckle up before liftoff.

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CNBC: United Airlines’ CEO warned the ongoing government shutdown could hurt bookings if it persists, though current impacts remain limited.

Axios: The Energy Department finalized a $1.6B loan guarantee for AEP $AEP ( ▼ 0.11% ) to rebuild 5,000 miles of power lines across five states and boost grid capacity.

CBS News: More than 3,000 UK claimants filed a £1B lawsuit against Johnson & Johnson $JNJ ( ▲ 0.42% ), alleging its baby powder contained carcinogenic asbestos.

Bloomberg: Warner Bros Discovery $WBD ( ▲ 0.38% ) will launch CNN’s new digital subscription service, All Access, on Oct. 28 for $7 a month.

TechCrunch: Waymo $GOOGL ( ▲ 0.32% ) partnered with DoorDash $DASH ( ▼ 1.74% ) to launch autonomous deliveries for food and groceries in Phoenix.

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The market’s scared. Should you be?

It is spooky season, after all. But according to Carson Group’s Chief Market Strategist, there’s more treat than tricks in store for Q4.

Are you bullish or bearish on Logitech $LOGI ( ▲ 0.7% ) over the next 12 months?

▇▇▇▇▇ 🐂 Bullish

▇▇▇▇▇ 🐻 Bearish

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