Virgin Galactic's stock surged after a U.S. federal court granted preliminary approval for a settlement resolving two long-running shareholder derivative lawsuits. The settlement involves a $2.75 million payment from the company's insurers, with Virgin Galactic retaining half. This legal clarity has lifted a major overhang, attracting momentum buyers and pushing the stock up over 19% in regular trading and an additional 14.5% after hours. The resolution is expected to dismiss all related claims once final approval is given, with current and former company officers denying any wrongdoing.
US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflatio...
The FAA has approved SpaceX to resume Starship prototype flights after identifying the cause of a booster failure in May. The next launch, planned for July 16, will be the second flight of the Starship V3 and will carry the first third-generation Sta...
