Good afternoon. Today is Monday, July 28th, and I'm your host for today, Rena Sherble,

filling in for Kim Khan. Our top story so far, Space startup Firefly Aerospace is looking to raise around

$600 million. The company kicked off its roadshow, saying it plans to offer 16.2 million shares

of common stock, pricing the offering between $35 and $39 per share. That would raise $599 million at the midpoint of the range.

The Texas-based company aims to list its shares on the NASDAQ global market under the ticker

symbol, FLY. It was valued at $2 billion in its last funding round in November 2024.

Firefly intends to grant underwriters a 30-day option to purchase up to an

additional 2.43 million shares at the IPO price, excluding underwriting discounts and commissions.

Firefly Aerospace competes with other small and medium lift launch vehicle and lunar services

markets. Among active stocks today, J.P. Morgan upgraded

Nike to overweight from neutral. Analyst Matthew Boss sees the Nike model at an inflection for

revenue growth to re-accelerate into the second half of 2026 and fiscal year 2027, following

several quarters of franchise product life cycle management and

inventory liquidation headwinds evercore downgraded Cisco systems to in line from outperform

but maintained its $72 price target on the stock analysts said we think the management team has done a

solid job in gaining traction

in cloud AI markets, and the overall company's strategy remains solid, but we think the upside

is largely priced in, creating a more balanced risk reward over the next 12 months.

And shares of liquefied natural gas producers are rallying after the European Union committed to

purchase 750 billion worth of LNG over the next three years as part of the recent sweeping trade pact.

Looking to the broader market, stocks have given up nearly all of the gains seen overnight after the

U.S. EU trade deal was announced.

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