24H | Rocket Lab Rises 7%; AST SpaceMobile Gains 5%; Adobe Slides 5%

US Overnight06-13

Dow Futures rose 0.70%, S&P 500 Futures rose 0.54%, Nasdaq Futures rose 0.72%, reflecting a broadly risk-on tone.

Virgin Galactic climbed 11.17%. The company disclosed a new director’s initial beneficial ownership statement in a Form 3 filing.

Rocket Lab USA, Inc. (RKLB) jumped 7.16%. The move followed reports of a sectorwide selloff Friday as capital rotated to SpaceX’s record IPO.

Redwire Corp. advanced 6.61%. A major holder exercised 2,000,000 warrants cashlessly, netting 929,435 shares, per a Form 4.

AST SpaceMobile, Inc. (ASTS) gained 5.47%. The CFO and CLO sold 45,809 shares for roughly $4.3 million in a June 11 filing.

Firefly Aerospace Inc. (FLY) rose 4.42%. Coverage noted the stock plunged 19% Friday amid investor rotation around SpaceX’s debut.

CoreWeave, Inc. increased 4.35%. The CSO Brian M. Venturo disclosed selling 75,330 Class A shares for $6.03 million and converting Class B to Class A.

EchoStar rallied 4.17%. Barron’s and others highlighted the stock’s prior weakness as SpaceX surged.

Adobe slid 5.21%. Its finance chief Dan Durn is departing to become Marvell Technology’s CFO.

Marvell Technology (MRVL) declined 2.12%. The company named Adobe’s Dan Durn as CFO, while a B. Riley analyst raised the price target.

SUPER MICRO COMPUTER INC (SMCI) slipped 1.60%. The company launched a major equity financing via a new underwriting agreement.

Chip stocks was mixed, with STMicroelectronics NV (STM) falling 2.87%, Astera Labs, Inc. (ALAB) rising 2.63%, ASML Holding NV falling 2.31%, Direxion Daily Semiconductors Bull 3x Shares (SOXL) falling 2.02%, United Microelectronics (UMC) rising 1.35%, Navitas Semiconductor Corp (NVTS) rising 1.13%, Applied Materials (AMAT) falling 1.01%, Lam Research falling 1.00%.

Memory chip stocks fell, with Roundhill Memory ETF (DRAM) falling 3.06%, Micron Technology (MU) falling 1.97%, Seagate Technology PLC (STX) falling 1.03%.

Space stocks rose, with Destiny Tech100 Inc (DXYZ) rising 5.12%, Tema Space Innovators ETF (NASA) rising 4.28%.

Among other individual movers, NEBIUS rose 5.31%, Li Auto rose 5.15%, NuScale Power rose 3.13%, Kratos Defense & Security Solutions (KTOS) rose 2.48%, JD.com rose 2.32%.

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