US markets rallied Monday, with the Dow Jones Industrial Average closing above 52,000 for the first time ever. The S&P 500 gained 1.2% while the Nasdaq led with a 2% advance. The rally was fueled by easing US-Iran tensions, a recovery in big tech, and a surge in Comcast shares on media spin-off updates.

On the earnings front, Monday was relatively light, but two reports stood out.

AeroVironment: A Transformational Quarter

The drone maker reported Q4 fiscal 2026 results after the close. Revenue surged 133% to $641.6 million from $275.1 million a year ago, driven by the acquisitions of BlueHalo and Empirical Systems Aerospace, which collectively contributed $282.3 million.

Net income jumped to $63.2 million ($1.25 per diluted share) from $16.7 million a year earlier. Non-GAAP EPS came in at $1.84. Full-year bookings hit $2.7 billion with a book-to-bill ratio of 1.4, and funded backlog grew to $1.2 billion.

For fiscal 2027, AVAV guided revenue of $2.125–$2.225 billion and non-GAAP EPS of $3.02–$3.34. The stock may see positive momentum in Tuesday trading.

Concentrix: A Narrow Miss

Customer experience and tech services firm Concentrix reported Q2 revenue of $2.46 billion, up just 1.9% year-over-year. Non-GAAP diluted EPS was $2.63, slightly below the $2.64 consensus estimate.

The company trimmed its full-year 2026 guidance to $9.925–$10.025 billion in revenue and non-GAAP EPS of $10.83–$11.18. Shares declined after the print as investors focused on the anemic top-line growth and margin erosion.

SpaceX Recovers Some Ground

SpaceX (SPCX) shares traded around $164, up about 7% on the day, continuing a recovery from the post-IPO correction that saw the stock drop from its $225 peak. At current levels, SPCX is still up roughly 22% from its $135 IPO price, though well below the euphoric highs of its debut week.

IPO Pipeline: A Busy July Ahead

Several sizable IPOs are lining up for early July:

Bending Spoons (BSP), the Italian tech acquirer behind Vimeo, WeTransfer, and Eventbrite, is targeting a ~$19 billion valuation with a $26–28 range, raising up to $1.6 billion.

ITG (ITG), a broadband and utility engineering firm, aims to raise ~$400 million at $19–22 per share, backed by double-digit revenue growth and a strong backlog.

CopperTech Metals (CUX), Vedanta's copper and cobalt spin-off, targets a $3.6 billion valuation with a $423 million raise at $16–18 per share.

Lime (LIME), the Uber-backed e-scooter and bike rental company, is seeking up to $182 million at $24–26 per share, with a valuation up to $1.66 billion.

Looking Ahead

Nike (NKE) reports quarterly results on Tuesday, providing the next major test of US consumer spending power.