--- title: "Dow Jones Top Company Headlines at 7 PM ET: SpaceX Eyeing Roughly $1.75 Trillion Valuation in IPO Next Week | Palo ..." type: "News" locale: "en" url: "https://longbridge.com/en/news/288489743.md" description: "SpaceX targets a $1.75 trillion IPO valuation next week. GameStop reported higher profits and launched a $2 billion buyback, while GitLab cuts 14% of staff for an AI pivot. Palo Alto Networks saw revenue growth, countering SaaS fears. Victoria's Secret swung to profit, boosting shares. Nvidia's Huang predicts Marvell may join the $1 trillion club. UniCredit cleared a threshold in its Commerzbank takeover bid, and GM faces strikes affecting truck production." datetime: "2026-06-02T23:30:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288489743.md) - [en](https://longbridge.com/en/news/288489743.md) - [zh-HK](https://longbridge.com/zh-HK/news/288489743.md) --- # Dow Jones Top Company Headlines at 7 PM ET: SpaceX Eyeing Roughly $1.75 Trillion Valuation in IPO Next Week | Palo ... SpaceX Eyeing Roughly $1.75 Trillion Valuation in IPO Next Week Banks are in line to make hundreds of millions of dollars from the offering; JPM has an additional role as party planner. \---- Palo Alto Networks Revenue Rises as Customers Beef Up Cyber Defenses Chief Executive Officer Nikesh Arora said the results should demonstrate that fears of a so-called "SaaS-Pocalypse," in which AI-native firms will come to displace legacy software incumbents, are misplaced as applied to the cybersecurity industry. \---- GameStop Posts Higher Profit, Launches $2 Billion Buyback Program The videogame retailer said sales rose to $835.3 million, driven by collectibles. \---- GitLab to Cut 14% of Workforce as Part of AI Pivot The maker of software-development tools is cutting 350 full-time employees and exiting 22 countries as part of a restructuring it floated in May. \---- Dollar General Is Winning Over Value-Seeking, Stressed Shoppers Dollar General's customers are feeling stressed, increasingly reining in spending on household expenses such as groceries as they face higher prices at the gas pump. \---- Bra Sales Power Victoria's Secret Turnaround and Shares Soar The lingerie and apparel retailer swung to a $47.7 million profit in the first quarter from a loss a year earlier, and raised its full-year outlook. \---- Ulta Beauty Revenue Rises on Growth Across Channels, Major Categories The cosmetics and fragrances retailer's sales rose 11% in the fiscal first quarter. \---- Nvidia's Huang Says Marvell May Join $1 Trillion Club Jensen Huang says Marvell Technology could be the next chip firm to join the trillion-dollar club, predicting a surge in demand for AI hardware fueled by the emergence of autonomous models. \---- UniCredit Clears Key 30% Threshold in Commerzbank Takeover Bid The lender said Tuesday that shares representing around 7.6% of Commerzbank's share capital have been tendered as part of its roughly $28 billion takeover attempt. \---- GM's Profitable Trucks Targeted in Latest UAW Strike The dispute at a Michigan parts supplier imperils GM's Chevrolet Silverado and GMC Sierra pickups as well as midsize trucks. \---- Shake Shack Cuts Guidance Due to Uncertainty, Competition Shake Shack scaled back its financial guidance as the burger chain continues to face a tough environment. \---- Coinbase Founder's Longevity Startup Triples in Value Now worth $3.1 billion, NewLimit plans to test its RNA therapy in alcohol-related liver-disease patients next year. \---- British American Tobacco Cuts Cigarette Outlook But Expects Lift in New-Category Revenue The company said global industry volumes in its traditional cigarette market would likely be lower than previously expected this year. \---- Philip Morris to Post $500 Million Impairment on Canada Affiliate Philip Morris International said it is booking a roughly $500 million impairment charge in the second quarter to reduce the carrying value of its investment in Canadian affiliate Rothmans Benson & Hedges, or RBH. \---- STMicroelectronics Shares Rally After Chip Maker Raises Data-Center Revenue Target Paris-listed shares jumped 8.2%, adding to a rally that has led the stock to nearly triple its value since the start of the year. \---- Genco Board Unanimously Rejects Diana Shipping's Latest Buyout Offer Dry-bulk shipping company Genco said its board reached the decision after thoroughly reviewing the offer with external advisers and determining its value was below its net asset value and didn't include a control premium. (END) Dow Jones Newswires June 02, 2026 19:15 ET (23:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### Related Stocks - [CBK.DE](https://longbridge.com/en/quote/CBK.DE.md) - [PANW.US](https://longbridge.com/en/quote/PANW.US.md) - [GTLB.US](https://longbridge.com/en/quote/GTLB.US.md) - [VSCO.US](https://longbridge.com/en/quote/VSCO.US.md) - [GME.US](https://longbridge.com/en/quote/GME.US.md) - [GM.US](https://longbridge.com/en/quote/GM.US.md) - [MRVL.US](https://longbridge.com/en/quote/MRVL.US.md) - [ASTS.US](https://longbridge.com/en/quote/ASTS.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [DG.US](https://longbridge.com/en/quote/DG.US.md) - [ULTA.US](https://longbridge.com/en/quote/ULTA.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [SHAK.US](https://longbridge.com/en/quote/SHAK.US.md) - [BTI.US](https://longbridge.com/en/quote/BTI.US.md) - [PM.US](https://longbridge.com/en/quote/PM.US.md) - [STM.US](https://longbridge.com/en/quote/STM.US.md) - [GNK.US](https://longbridge.com/en/quote/GNK.US.md) - [DSX.US](https://longbridge.com/en/quote/DSX.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) - [GME+.US](https://longbridge.com/en/quote/GME+.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [BATS.UK](https://longbridge.com/en/quote/BATS.UK.md) - [STMEF.US](https://longbridge.com/en/quote/STMEF.US.md) - [DSX+.US](https://longbridge.com/en/quote/DSX+.US.md) - [DSX-B.US](https://longbridge.com/en/quote/DSX-B.US.md) ## Related News & Research - [Trump visits GM Milford Proving Grounds in Michigan for manufacturing event](https://longbridge.com/en/news/293983445.md) - [Major automaker could be banned from operating in the US under new Senate measure](https://longbridge.com/en/news/294074837.md) - [SpaceX lockup expiry: Morgan Stanley believes 'largely unchanged' fundamentals create attractive entry point at current levels](https://longbridge.com/en/news/293785215.md) - [Nvidia Just Launched a Product That Will Drive Future AI Factories. 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