Rivian Automotive IncCompleted US$1.16 billion follow-on equity offering dilutes shares
US stock futures are mixed with S&P 500 contracts slightly in the red and Dow futures modestly higher as investors weigh climbing oil prices, rising UK government bond yields above 4.8%, and a 50% chance of a September US rate hike. The ISM Services PMI came in at 54.0, showing the economy still expanding while price pressures ease. Among top movers, Cloudflare jumped 8.60% after a Scotiabank upgrade, Venture Global surged 6.82%, and Occidental Petroleum climbed 5.88%, while Rivian Automotive fell 18.12% after completing a US$1.16 billion follow-on equity offering, Astera Labs declined 11.52%, and Rocket Lab dropped 10.40%. Earnings from PepsiCo and Delta Air Lines are on the radar for the next few sessions.
Rivian Automotive IncCompleted US$1.16 billion follow-on equity offering dilutes shares
Cloudflare IncScotiabank upgrade
Occidental Petroleum CorporationClimbing oil prices benefit oil producer
Rocket Lab USA Inc.Stock dropped 10.40% but no specific cause given in article
Venture Global, Inc.Stock surged 6.82% but no specific cause given in article
Astera Labs, Inc.
Delta Air Lines Inc
PepsiCo Inc