EchoStar was among the stocks drawing attention on November 2 after news that Elon Musk’s SpaceX is considering launching a wireless service with the company. The development supported gains in EchoStar shares.
Lumentum also moved after Marvell Technology reached an agreement to acquire the optical technology company at an enterprise value of $115 billion. Lumentum produces lasers and other optical components used to transmit very large amounts of data at high speeds, technology described as supporting the expansion of artificial intelligence.
Apple shares were active ahead of the company’s earnings report. The stock has risen 25% from a low reached in late June, increasing Apple’s market value by approximately $1 trillion. Steady revenue growth and higher free cash flow have helped make the company a refuge for investors.
Sources: Bloomberg Markets.