Stocks

Rubrik reported a 48% increase in total revenue, reaching $350.2 million, and a 52% increase in subscription revenue, reaching $336.4 million for the third quarter of fiscal year 2026. The company also saw a substantial increase in cash flow, with free cash flow reaching $76.9 million, up from $15.6 million in the previous year. These impressive financial results underscored the company's growth potential and validated its strategic shift toward AI solutions.

The most significant catalyst for EchoStar's stock surge was the news of SpaceX's impending secondary share sale, which valued the rocket manufacturer at approximately $800 billion. This valuation is nearly double SpaceX's previous valuation of around $400 billion. Such a valuation would make SpaceX the most valuable private company in the United States, surpassing OpenAI's valuation. EchoStar's stake in SpaceX, acquired through spectrum deals, is a major asset on EchoStar's balance sheet. With SpaceX's valuation likely doubling on paper, this strengthens EchoStar's balance sheet and presents a lucrative opportunity for public-market investors to gain indirect exposure to SpaceX.

The most significant development was the announcement of Netflix's $72 billion acquisition of WBD's film and TV studios, HBO Max, and HBO. This deal is a significant milestone in the streaming industry and has contributed to the stock's rise.

The most significant event was the announcement of positive results from the EMBOLD study evaluating relutrigine for SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs). The study's independent Data Monitoring Committee recommended stopping the trial early due to efficacy, which is a strong signal in rare disease trials. Praxis plans to present the topline results at the American Epilepsy Society Annual Meeting on December 6, 2025. The potential for an FDA approval and the addressing of an unmet medical need for these devastating conditions contributed to the stock's rise.