HAPPY MONDAY TO THE STREET
Rupert Murdoch spent the '90s chasing the TV Guide of the future. His son Lachlan just bought it. Fox (FOX) is paying $22B for Roku (ROKU), the home screen 100 million households stream through. The hitch? In 2026, everybody's TV has its own guide, and Lachlan just paid up for one of many.
🟩 | US stocks popped today on news of a shaky truce between the US and Iran. The Dow notched a new record close, while the Nasdaq Composite surged more than 3%, its best day since March.
📈 | One Notable Gainer: SpaceX (SPCX) added nearly 20% in its first full day of trading after the largest IPO in history.
📉 | One Notable Decliner: Fox Corp sank after announcing the aforementioned acquisition of Roku.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WHEN WILL TRAFFIC AT THE STRAIT RETURN TO NORMAL?
A fifth of the world's oil sails through the Strait of Hormuz, and Iran just spent months proving it could turn off the tap. Now a shaky US-Iran deal promises to reopen the chokepoint toll-free, if it survives 60 days of nuclear talks and a still-smoldering Lebanon. Here’s how traders are pricing when the tankers roll again.
Market Movers
FERRARI, MARATHON, TRIPADVISOR
📉 | Marathon Petroleum (MPC) tumbled as oil prices dropped.
📉 | EOG Resources (EOG) also fell in the energy selloff.
📈 | Generac Holdings (GNRC) gained on plans to acquire an Illinois facility.
Tomorrow's Trade Idea, Today
RISING ROCKET LIFTS ALL SHIPS
Stock Spotlight
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Gift Wrapped
SpaceX’s fellow rocket makers sold off on the former’s sharp ascent. KeyBanc analyst Michael Leshock thinks that’s a gift.
He upgraded Rocket Lab to Overweight, betting the rocket maker rebounds after sliding when the IPO pulled cash out of smaller space names.
Apollo Energy
The analyst believes institutional money is pouring into commercial space, and the blockbuster debut only proved the appetite is real. Leshock favors well-capitalized names with growth tied to national security and NASA priorities.
He also argues NASA activity is accelerating at a pace not seen since the Apollo era, while launch supply stays structurally constrained. Add exploding demand for satellites, and Rocket Lab sits squarely in a multiyear tailwind.
Street Cred
Wall Street is largely aligned. Of the 22 analysts covering Rocket Lab, 17 rate it a Buy or Strong Buy.
Smaller rival Firefly Aerospace (FLY) drew a similar upgrade after falling harder on Friday, but both names bounced today. Every launch starts with a little turbulence.
Do you own any shares of Rocket Lab (RKLB)?
OVERHEARD ON THE STREET
🤝 | Vice President JD Vance said the US holds "all the cards" in the coming Iran negotiations, with the deal set for formal signing Friday in Geneva.
🚀 | SpaceX's IPO raised a total of $85.7B after underwriters exercised their "greenshoe" overallotment option.
⚖️ | The Justice Department closed its antitrust probe of Paramount Skydance's (PSKY) Warner Bros. Discovery (WBD) acquisition.
🤖 | A proposed class action accuses Anthropic of overselling usage limits on its $100 and $200 Max AI subscription plans.
FRIDAY’S POLL RESULTS
Did you buy any shares of SpaceX (SPCX) in today's debut?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐂 Yup, I’m holding — "Only got 4% of my offer but glad to be in. Will continue to buy more on dips."
🐻 Nope, not interested — “That valuation makes no sense and AI data centers in space is not going to happen in my lifetime.”
👀 No, but I’m interested — "Typically, for retail investors, buying on IPO day is a fool's errand. I'll be buying after the initial hype wears off in 2-4 weeks... because it always does. Most investors, institutional or not, have the patience of a pissant."
