Rocket Lab rises 2.24% after Q2 revenue beat and stronger Q3 outlook

Rocket Lab Corporation shares moved higher Wednesday after the company topped second-quarter revenue expectations and issued third-quarter revenue guidance above Wall Street estimates. The company posted a second-quarter loss of 8 cents per share, wider than the consensus estimate for a 7-cent loss, while revenue came in at $234.07 million versus expectations of $231.35 million. For the third quarter, Rocket Lab guided for revenue of $250 million to $265 million, ahead of the $238.53 million consensus estimate, and projected an adjusted EBITDA loss of $17 million to $23 million. Analysts remained constructive but not uniformly bullish. Cantor Fitzgerald's Andres Sheppard reaffirmed an Overweight rating and raised his price target to $122 from $96, saying Neutron could become the only viable alternative and closest competitor to Falcon 9 once operational, potentially improving unit economics and accelerating profitability. BofA Securities analyst Ronald Epstein maintained a Buy rating and a $115 price target, while BTIG analyst Andre Madrid reiterated a Neutral rating. BTIG said stronger-than-expected results reflected major wins across Launch and Space Systems and pointed to progress toward becoming a fully integrated space company following the planned Iridium Communications Inc acquisition. Technical indicators in the report were mixed: the stock stood at $79.85, 1.9% above its 200-day simple moving average (SMA, average closing price over a period) of $78.15 but 9.4% below its 50-day SMA of $87.92. The RSI (relative strength index, a momentum gauge) was 51.08 and the MACD (moving average convergence divergence, a trend indicator) was neutral. Benzinga said key resistance was $93.00 and support was $64.00. ETF holdings may also affect trading because Rocket Lab has meaningful weights in ARKQ, ARKX and UFOX, meaning fund inflows or outflows could trigger automatic buying or selling of the stock.

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