Nasdaq 100 adds SpaceX as Samsung slide and deal activity reshape market focus

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Nasdaq 100, SpaceX & market shifts

Highlights

SpaceX joins the Nasdaq 100 via fast-track entry, likely attracting billions in passive investment flows and expanding analyst coverage with 18 buy ratings.
Vertex Pharmaceuticals acquires Crinetics Pharmaceuticals for about $10 billion, with Crinetics shares nearly doubling and the deal expected to close in Q3, fueling biotech consolidation expectations.
Samsung Electronics shares fall 7% following preliminary Q2 results showing over 1,800% profit growth, as investors lock in gains amid broader tech sector shifts.

Index changes, earnings moves and analyst calls

As reported by CNBC, SpaceX officially joins the Nasdaq 100 on Tuesday under the index's fast-track entry process, a move that is expected to bring billions of dollars in passive investment flows into the stock. Analyst coverage is also widening after the end of quiet periods tied to last month's IPO, with at least 18 buy ratings cited, including from Goldman Sachs and Morgan Stanley, while MoffettNathanson starts with a hold because of valuation and orbital data center concerns.

Elsewhere in technology, Samsung Electronics shares fall 7% in South Korea after the company's preliminary second-quarter results show operating profit growth of more than 1,800% and more than doubled sales, even as investors appear to lock in gains after the stock's run-up. Reuters also reports that China's DeepSeek is working on a custom AI processor aimed at inference workloads, a development seen as part of a broader effort to reduce reliance on chips from Nvidia and Huawei.

The day also brings notable stock-specific calls in U.S. equities. Canaccord Genuity argues the bearish view on Meta Platforms' heavy AI spending has become excessive, pointing to the company's plan to sell excess AI computing capacity, while JPMorgan raises its price target on Eli Lilly to $1,400 from $1,300 and keeps both a buy rating and top-pick status ahead of second-quarter results due Aug. 5.

Retail pricing, takeover activity and broader sector implications

Walmart says it is lowering prices on beef and other key summer grilling items, adding to signs of easing consumer inflation alongside lower gasoline prices. The move reinforces the appeal of discount-oriented retailers at a time when households remain price sensitive, and it comes after Walmart shares have retreated 18% from their mid-May peak.

In healthcare, Vertex Pharmaceuticals says it will buy Crinetics Pharmaceuticals for roughly $10 billion to expand in treatments for rare hormonal diseases, with the companies expecting the deal to close in the third quarter. Crinetics shares nearly double in morning trading while Vertex slips about 1%, and the transaction adds to expectations for further biotech consolidation after the sector strengthens following the FDA leadership shakeup in May.

Payments and housing names are also in focus. Fiserv rises more than 5% after The Wall Street Journal reports that the company has held talks with major banks about selling its debit card network, while D.R. Horton is upgraded to buy from hold by Zelman & Associates, reflecting improving sentiment toward homebuilders as the 30-year mortgage rate trends lower.

Our earlier coverage of SpaceX’s rapid Nasdaq 100 inclusion explained that the stock’s entry soon after its IPO could trigger significant passive buying as index-tracking funds rebalance. We also noted that the end of the IPO quiet period was set to bring the first wave of major Wall Street initiations and price targets, with upbeat ratings alongside debate over whether the valuation is justified by SpaceX’s space-and-AI ambitions.

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