Rocket Lab-iQPS partnership, Confluent, Joby: Trending Tickers

Market Catalysts host Julie Hyman tracks several of the day's top trending stock tickers, including Rocket Lab's (RKLB) new partnership to launch more satellites for Japanese company iQPS, Confluent (CFLT) shares moving higher on reports of an acquisition interest, and Joby Aviation (JOBY) falling on a stock sales announcement.

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Video Transcript

00:09 Speaker A

Now time for some of today's trending tickers. We are watching Rocket Labs, Confluent and Joby Aviation. First up Rocket Lab, those shares are jumping after the company said it signed a contract with IQPS to launch three more satellites for the Japanese company.

00:23 Speaker A

The deal makes Rocket Lab the primary launch provider to deploy the company's commercial Earth imaging constellation. These three additional missions bring the total number of upcoming launches for IQPS to seven. The multi-launch contract includes three dedicated electron missions that will launch no earlier than 2026 from Rocket Lab's launch complex in New Zealand.

00:44 Speaker A

Next, Confluent, those shares jumping after Warters reported that the data infrastructure company is exploring a sale after receiving acquisition interest. Company said to be working with an investment bank on the sale process, which is in its early stages. Confluent shares sank in July after second quarter results were underwhelming.

01:00 Speaker A

Sales attributed to the company's Confluent Cloud subscription business, one of its biggest moneymakers, saw 28% growth in the quarter that fell below 30% for the first time in company history. The shares up 10% today.

01:12 Speaker A

And finally Joby Aviation, those shares are falling after the electric Air taxi company announced a new sizable stock offering. Company said it will sell just above 30 million shares of common stock at an offering price of 16.85. That would result in gross proceeds of about $500 million.

01:29 Speaker A

They'll be used to help fund certification and manufacturing efforts and to prepare for commercial operations according to the company, but more shares out there means pressure on the stock. It's down 11%.

01:41 Speaker A

As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page.

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