WS #10988
The dominant narrative in this window is a series of transformative M&A and corporate actions, headlined by Rocket Lab's $8B acquisition of Iridium and Martin Marietta's $13.5B combination with Lhoist North America. These deals signal continued strategic consolidation in aerospace and infrastructure. The US-Iran peace talks remain fragile after weekend attacks in the Gulf, with oil prices climbing and Strait of Hormuz traffic still reduced, though a diplomatic meeting is possible by July 3. European earnings are poised for double-digit growth driven by energy sector windfalls from the Iran war, but ex-energy growth is only 3%. Volkswagen faces deepening cost pressures as the works council says current job cuts are insufficient, sending shares to 16-year lows. Bitcoin hovers below $60,000 with bearish derivatives positioning, while AWS is raising GPU rental prices by ~20% from July 1, benefiting Nvidia's pricing power. The Comcast spin-off of NBCUniversal and Sky continues to drive Charter Communications stock up 14%.
Topics
Key developments
- Rocket Lab to acquire Iridium for ~$8B in transformative space deal
- Martin Marietta to combine with Lhoist North America in $13.5B transaction
- US-Iran peace talks in question after weekend Gulf attacks; oil climbs
- Volkswagen works council says current job cuts insufficient; shares at 16-year lows
- AWS to raise GPU rental prices ~20% from July 1 for Blackwell, H100, H200 instances
- Bitcoin hovers below $60,000; derivatives data points to continued downside risk
- European Q2 earnings expected to grow 12% YoY, driven by energy sector (+84% YoY)
- Comcast spin-off of NBCUniversal and Sky drives Charter Communications stock up 14%