SpaceX Surpasses Amazon and Microsoft in Market Cap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
The major averages were mixed near noon, with the Dow on track for its fourth straight day of gains while the Nasdaq was in decline. Elon Musk's SpaceX continues to build on its massive post-IPO rally, overtaking Amazon and Microsoft to become the fourth-biggest company in the world in terms of market capitalization. Meanwhile, investors are beginning to shift attention from geopolitical headlines toward tomorrow's Federal Reserve decision and commentary from new Fed Chair Kevin Warsh.In commodity news, oil prices continue to drop, slipping below $80 per barrel. Markets have been encouraged by reports surrounding a preliminary U.S.-Iran agreement that could ease concerns over the Strait of Hormuz and reduce energy-related inflation pressure.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXwith Cursor in a deal valued at $60BYum! Brandsentered into agreements tofor $2.7B in the aggregateHuntsmanand Olinin an all-stock merger of equalsRobinhoodannounced aand will incur $10M of chargesGeneral Motorsis considering partnering with Lockheed Martinon weapons parts,2. WALL STREET CALLS:Exxon Mobilto Buy from Neutral at BofAWolfePalantirto Peer Perform after resuming coverageKilroy Realtyto Buy at BofA on AI-driven leasing momentumBTIGFannie Maeand Freddie Macon conservatorship release uncertaintyDomoto Hold from Buy at TD Cowen3. AROUND THE WEB:Nvidiaraised $25B in high-grade bonds, up from a $20B target, amid strong $85B investor demand, marking its first debt issuance since 2021 and reflecting intense appetite for AI-linked credit as proceeds are expected to be used for refinancing and other corporate purposes, Bloomberg saysDozens of hotel owners are pressuring Marriottto share more revenue from its Bonvoy loyalty program, which is expected to generate nearly $1B in fee revenue this year, WSJ saysBlackRockwill be eliminating 1% of its workforce, or about 200 employees, Bloomberg reportsJPMorganChase is planning for its digital bank to operate in at least five European countries within the next five years, FT reportsJehoshaphat Research is short Gildan Activewear, saying the company "got addicted to a growth narrative, and like many addicts it has done unsavory things to feed its addiction."4. MOVERS:Open Lendinggains after announcing it will befor $3.15 per share in cashRackspaceincreases afterwith Rackspace Technology for the phased deployment of an initial 30 MW footprintLionsgate Studiosincreases in New York afterNetflixis interested in purchasing the companyEricssonlower after appointing Per Narvinger as CEO as Borje Ekholm has decided to step downBraskemfalls in New York afterthe company was named as a defendant in a criminal case over the ground subsidence in five neighborhoods of Maceio, a Brazilian state in Alagoas5. EARNINGS/GUIDANCE:Vince Holdingand provided guidance for Q2 and FY26Wiley, with EPS and revenue beating consensusDave & Buster's, with EPS missing consensusDomoRF Industries, with CEO Robert Dawson lauding the company "translating solid demand and disciplined execution into both revenue growth and meaningful margin expansion"INDEXES:Near midday, the Dow was up 0.80%, or 413.48, to 52,084.51, the Nasdaq was down 0.70%, or 185.82, to 26,498.12, and the S&P 500 was up 1.65%, or 122.83, to 7,554.29.
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Analyst Views on JPM
Wall Street analysts forecast JPM stock price to rise
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 333.460
Low
260.00
Averages
341.38
High
400.00
Current: 333.460
Low
260.00
Averages
341.38
High
400.00
About JPM
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The Company operates through three segments: Consumer & Community Banking (CCB), Commercial & Investment Bank (CIB), and Asset & Wealth Management (AWM). Its CCB segment offers products and services to consumers and small businesses through bank branches, ATMs, digital and telephone banking. Its CIB segment consists of banking and payments and markets and securities services, and offers a suite of investment banking, lending, payments, market-making, financing, custody and securities products and services to a global base of corporate and institutional clients. AWM segment offers investment and wealth management solutions. It offers multi-asset investment management solutions, retirement products and services, brokerage, custody, estate planning, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
JPMorgan Chase to Host Q2 2026 Earnings Call
- Earnings Call Schedule: JPMorgan Chase is set to host a conference call on July 14, 2026, at 8:30 a.m. (ET) to review its Q2 2026 financial results, with results released at 7:00 a.m., reflecting the firm's commitment to transparency and timely communication.
- Investor Information Access: The earnings report will be disseminated via the firm's Investor Relations website and social media channels, ensuring investors receive timely updates and enhancing interaction between the company and its stakeholders.
- Conference Call Access: The public can join the call by dialing 1 (888) 324 3618 in the U.S. and Canada or +1 (312) 470 7119 for international callers, demonstrating the firm's openness to global investors and encouraging broad participation.
- Financial Health Overview: As of March 31, 2026, JPMorgan Chase reported total assets of $4.9 trillion and stockholders' equity of $364 billion, indicating the firm's robust strength and leadership position in the financial services sector.
See More
JPMorgan Chase Plans Expansion into European Markets
- Market Expansion Plans: JPMorgan Chase aims to launch digital banking services in three new European markets—Italy, Spain, and France—within the next five years, enhancing its market presence to complement existing operations in the U.K. and Germany.
- Stock Performance: Following the management's announcement of expansion plans, JPMorgan's stock rose nearly 4%, significantly outperforming the S&P 500's 0.6% decline, indicating a positive market reaction to its strategic direction.
- Digital Banking Trend: As a next-generation lender, JPMorgan seeks to innovate in digital banking while leveraging its strong brand presence to meet the demand for digital-first banking solutions in Europe.
- Regulatory Challenges: Although five years may seem lengthy, the stringent regulations in the European financial sector present complex compliance challenges for JPMorgan, suggesting that the rollout may proceed at a slower pace.
See More
U.S. Justice Department Investigates Wall Street Banks' Ties to Iran
- Investigation Background: The U.S. Justice Department is probing Wall Street banks, including JPMorgan Chase and Citigroup, for their involvement in Iran's Supreme Leader Khamenei's global investment portfolio, amid allegations of money laundering and corruption, highlighting significant compliance concerns for financial institutions.
- Funds Movement Scrutiny: Investigators are examining the role of American financial institutions in facilitating large money transfers between firms overseen by Khamenei, aiming to identify potential gaps in due diligence procedures, thereby enhancing regulatory oversight of financial transactions.
- International Bank Focus: European and Middle Eastern lenders have particularly attracted the DOJ's attention, indicating an expansion of scrutiny over international financial networks to ensure they are not used for illicit activities.
- Brand Payment Investigation: The inquiry also encompasses property-related payments made by Khamenei's network to global brands, including Hilton, which could reveal broader financial compliance issues, potentially impacting the reputation and business of the involved brands.
See More
U.S. DOJ Investigates Iran's Supreme Leader's Global Investment Portfolio
- Investigation Context: The U.S. Department of Justice is investigating how Iran's Supreme Leader Khamenei built a global investment portfolio linked to Wall Street banks, as part of a broader probe into allegations of money laundering and corruption.
- Transaction Scrutiny: Investigators are reviewing transactions involving firms overseen by Khamenei, particularly focusing on the role of U.S. banks, including JPMorgan Chase and Citigroup, in these dealings.
- Bank Responses: JPMorgan and the DOJ have not responded to Reuters' requests for comments, while Citigroup declined to comment, indicating a cautious stance from the banks involved in the investigation.
- Power Dynamics: Khamenei became Iran's Supreme Leader after his father was killed in a U.S.-Israeli airstrike, and as the ultimate decision-maker on state matters, he holds significant influence over foreign policy and Iran's nuclear program.
See More
Iran Peace Deal Framework Drives Oil Prices Down
- Oil Price Volatility: Following the announcement of a framework for a long-term peace deal between Iran and the U.S., oil prices have dropped 30% from their nearly $113 peak on April 7, indicating market optimism about future supply, which could further impact global energy market stability.
- Positive Market Reaction: The Dow Jones Industrial Average surged above 52,000 for the first time, although it later retreated, reflecting investor expectations surrounding the peace deal, which may boost related energy stocks and enhance market confidence.
- Supply Chain Recovery: JPMorgan reports that oil flows through the Strait of Hormuz increased from 2.9 million barrels per day in May to 5.1 million barrels per day in June, although still at only 25% of pre-war levels, this recovery speed could accelerate global market supply and subsequently affect oil prices.
- Gasoline Price Decrease: The national average gasoline price is expected to fall below $3.50 per gallon within two weeks, with 11 states already below $3.65, providing tangible benefits to consumers and reflecting the positive economic impact of declining oil prices.
See More
Fiserv CEO Resignation Raises Market Concerns
- Executive Change Impact: Fiserv's CEO Michael Lyons has resigned to become the CEO of Truist, a move that occurs amidst significant turnaround challenges for the company, potentially heightening investor anxiety about its future direction.
- Performance Decline Warning: In its third-quarter earnings report, Fiserv missed earnings estimates by 23% and cut its full-year forecast by 16%, leading to a stock price drop of over 40% post-report, indicating a decline in competitiveness in core banking processing technology.
- Management Confidence Shaken: Lyons' departure raises concerns about Fiserv's future, especially after he was incentivized with a $70 million pay package, prompting investors to question whether he believed he could achieve performance targets at Fiserv.
- New CEO Outlook: Takis Georgakopoulos has been appointed as the new CEO, bringing extensive experience in the payments sector and a successful track record from JPMorgan, which may offer new hope for Fiserv, although the market remains cautious about the implications of Lyons' exit.
See More
JPMorgan Chase to Host Q2 2026 Earnings Call
- Earnings Call Schedule: JPMorgan Chase is set to host a conference call on July 14, 2026, at 8:30 a.m. (ET) to review its Q2 2026 financial results, with results released at 7:00 a.m., reflecting the firm's commitment to transparency and timely communication.
- Investor Information Access: The earnings report will be disseminated via the firm's Investor Relations website and social media channels, ensuring investors receive timely updates and enhancing interaction between the company and its stakeholders.
- Conference Call Access: The public can join the call by dialing 1 (888) 324 3618 in the U.S. and Canada or +1 (312) 470 7119 for international callers, demonstrating the firm's openness to global investors and encouraging broad participation.
- Financial Health Overview: As of March 31, 2026, JPMorgan Chase reported total assets of $4.9 trillion and stockholders' equity of $364 billion, indicating the firm's robust strength and leadership position in the financial services sector.
See More
JPMorgan Chase Plans Expansion into European Markets
- Market Expansion Plans: JPMorgan Chase aims to launch digital banking services in three new European markets—Italy, Spain, and France—within the next five years, enhancing its market presence to complement existing operations in the U.K. and Germany.
- Stock Performance: Following the management's announcement of expansion plans, JPMorgan's stock rose nearly 4%, significantly outperforming the S&P 500's 0.6% decline, indicating a positive market reaction to its strategic direction.
- Digital Banking Trend: As a next-generation lender, JPMorgan seeks to innovate in digital banking while leveraging its strong brand presence to meet the demand for digital-first banking solutions in Europe.
- Regulatory Challenges: Although five years may seem lengthy, the stringent regulations in the European financial sector present complex compliance challenges for JPMorgan, suggesting that the rollout may proceed at a slower pace.
See More
U.S. Justice Department Investigates Wall Street Banks' Ties to Iran
- Investigation Background: The U.S. Justice Department is probing Wall Street banks, including JPMorgan Chase and Citigroup, for their involvement in Iran's Supreme Leader Khamenei's global investment portfolio, amid allegations of money laundering and corruption, highlighting significant compliance concerns for financial institutions.
- Funds Movement Scrutiny: Investigators are examining the role of American financial institutions in facilitating large money transfers between firms overseen by Khamenei, aiming to identify potential gaps in due diligence procedures, thereby enhancing regulatory oversight of financial transactions.
- International Bank Focus: European and Middle Eastern lenders have particularly attracted the DOJ's attention, indicating an expansion of scrutiny over international financial networks to ensure they are not used for illicit activities.
- Brand Payment Investigation: The inquiry also encompasses property-related payments made by Khamenei's network to global brands, including Hilton, which could reveal broader financial compliance issues, potentially impacting the reputation and business of the involved brands.
See More
U.S. DOJ Investigates Iran's Supreme Leader's Global Investment Portfolio
- Investigation Context: The U.S. Department of Justice is investigating how Iran's Supreme Leader Khamenei built a global investment portfolio linked to Wall Street banks, as part of a broader probe into allegations of money laundering and corruption.
- Transaction Scrutiny: Investigators are reviewing transactions involving firms overseen by Khamenei, particularly focusing on the role of U.S. banks, including JPMorgan Chase and Citigroup, in these dealings.
- Bank Responses: JPMorgan and the DOJ have not responded to Reuters' requests for comments, while Citigroup declined to comment, indicating a cautious stance from the banks involved in the investigation.
- Power Dynamics: Khamenei became Iran's Supreme Leader after his father was killed in a U.S.-Israeli airstrike, and as the ultimate decision-maker on state matters, he holds significant influence over foreign policy and Iran's nuclear program.
See More
Iran Peace Deal Framework Drives Oil Prices Down
- Oil Price Volatility: Following the announcement of a framework for a long-term peace deal between Iran and the U.S., oil prices have dropped 30% from their nearly $113 peak on April 7, indicating market optimism about future supply, which could further impact global energy market stability.
- Positive Market Reaction: The Dow Jones Industrial Average surged above 52,000 for the first time, although it later retreated, reflecting investor expectations surrounding the peace deal, which may boost related energy stocks and enhance market confidence.
- Supply Chain Recovery: JPMorgan reports that oil flows through the Strait of Hormuz increased from 2.9 million barrels per day in May to 5.1 million barrels per day in June, although still at only 25% of pre-war levels, this recovery speed could accelerate global market supply and subsequently affect oil prices.
- Gasoline Price Decrease: The national average gasoline price is expected to fall below $3.50 per gallon within two weeks, with 11 states already below $3.65, providing tangible benefits to consumers and reflecting the positive economic impact of declining oil prices.
See More
Fiserv CEO Resignation Raises Market Concerns
- Executive Change Impact: Fiserv's CEO Michael Lyons has resigned to become the CEO of Truist, a move that occurs amidst significant turnaround challenges for the company, potentially heightening investor anxiety about its future direction.
- Performance Decline Warning: In its third-quarter earnings report, Fiserv missed earnings estimates by 23% and cut its full-year forecast by 16%, leading to a stock price drop of over 40% post-report, indicating a decline in competitiveness in core banking processing technology.
- Management Confidence Shaken: Lyons' departure raises concerns about Fiserv's future, especially after he was incentivized with a $70 million pay package, prompting investors to question whether he believed he could achieve performance targets at Fiserv.
- New CEO Outlook: Takis Georgakopoulos has been appointed as the new CEO, bringing extensive experience in the payments sector and a successful track record from JPMorgan, which may offer new hope for Fiserv, although the market remains cautious about the implications of Lyons' exit.
See More
