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JOHANNESBURG, July 15 (Reuters) - Amazon's low-earth orbit satellite internet venture Amazon Leo has signed an agreement with South Africa's Herotel ‌to launch a new broadband service aimed at connecting underserved ‌rural communities, it said on Wednesday. Under the agreement, Herotel, South Africa's largest fixed internet service provider, ​will use Amazon Leo's satellite technology to offer a new service called evry, which is expected to launch commercially in 2027 for residential customers.

Shares in Elon Musk’s SpaceX have fallen below their initial public offering (IPO) price for the first time since the rocket company went public.

The tech giant’s historic one-day stock drop wiped out hundreds of millions in employee wealth.

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SpaceX has fallen about 37% from its peak, but Wall Street still sees big upside. Here's why the story may not be over.

SpaceX shares dropped below their initial public offering price on Wednesday, a first for the company, just over a month after a frenzy over the rockets-to-AI firm powered the biggest IPO ever and made Elon ‌Musk the world's first trillionaire. Its shares slid 1.9% to $133.5, falling below the $135 apiece IPO price and well below the all-time ‌high of $225.64 that had propelled the company's market valuation briefly above those of Silicon Valley giants Microsoft and Amazon. The decline leaves investors who bought into the company ​at the IPO price sitting on paper losses for the first time, potentially testing confidence in the stock.

(Bloomberg) -- Wall Street banks, scouring every corner of the capital markets to finance the artificial intelligence buildout, have landed on a new pool of funds: US leveraged loans, which are clamoring for the transactions amid a dearth of buyout deals.Most Read from BloombergThailand Scraps Plan to End Visa-Free Entry for Indian TouristsOpenAI’s First Device Will Be Movable, Screenless Speaker Built as AI CompanionTrump Drops 20% Fee for Hormuz Cargo After Gulf PressureUS Hits Iran With Strik

Morgan Stanley (MS) reported second quarter earnings, with blowout results and record revenue. Yahoo Finance Senior Reporter David Hollerith takes a closer look.

(Updates to specify revenue beat in the headline.) Morgan Stanley's (MS) second-quarter revenue s

Morgan Stanley's (MS) second-quarter revenue surpassed Wall Street's projections, with robust invest

SpaceX stock slid on Wednesday, breaching a crucial price level.

SpaceX (SPCX) shares slid on Wednesday, breaching a crucial price level.

SpaceX shares are on watch Wednesday morning after another down day for the stock, and a crucial level almost breached.

SpaceX just pulled off one of the biggest IPOs in history, but credit investors are quietly pricing its debt as if the investment-grade label were a polite fiction. The bond market has been right before when ratings and spreads told different stories.

Shares closed just $1 above the IPO price as Wall Street remains broadly bullish despite continued selling pressure.

SPCX is overtaking TSLA as Elon Musk's biggest value creator, powered by reusable rockets, Starlink growth and a growing push into AI infrastructure.

Words of wisdom from an OG in tech.

The bank hauled in $148 billion of net new assets in its wealth-management business in the second quarter, over half of which were tied to IPOs.

Raymond James just slapped a jaw-dropping price target on SpaceX that implies a valuation larger than any company in history, and the bull case hinges on whether Elon Musk can pull off something that seems to defy the laws of physics.

A $5,000 investment in SpaceX today could sink by more than half in 10 years -- or grow tenfold.

The historic SpaceX initial public offering was good for Morgan Stanley’s investment banking division. The firm’s wealth division also got a boost from IPOs. Morgan Stanley’s wealth division raked in $148 billion in net new assets in the second quarter, over half of which the firm said was related to IPOs of companies that use the firm’s workplace investing platform.

SpaceX stock hovers near its record low, but a falling wedge and RSI divergence point to a 15% rebound to $158.

(Bloomberg) -- It’s not just Morgan Stanley’s IPO bankers that are benefiting from the frenzy of companies going public in recent weeks.The bank hauled in $148 billion of net new assets in its wealth-management business in the second quarter, over half of which were tied to IPOs, according to a statement Wednesday. SpaceX’s record-breaking listing earlier this year proved to be a field day for Morgan Stanley and its Wall Street peers that helped take it public. Elon Musk’s space and artificial-i

SpaceX stock is dangerously close to breaking its $135 IPO price. SpaceX is set to test its huge, fully-reusable Starship for the thirteenth time. Starship promises to dramatically lower the cost of reaching space while dramatically increasing SpaceX’s capacity to put things into orbit.

The bank reported adjusted second-quarter earnings of $3.46 a share, blowing past Wall Street forecasts thanks to a surge in investment banking revenue.

Morgan Stanley’s profit jumped 58% in the second quarter, echoing bumper results at other big banks from strong trading and dealmaking activity. The report follows a slug of big bank earnings yesterday, which together pointed to how market turmoil and artificial intelligence-driven investment have supercharged Wall Street’s biggest moneymakers. Morgan Stanley’s investment banking revenue increased 58% from the prior year to $2.44 billion.

CIBC Capital Markets lowered its price target on MDA Space (MDA.TO) to C$59 from C$67. Analyst Er

Stocks look set to build on their recent gains as investors try to make sense of another batch of quarterly earnings reports.

Getting into the smartphone market could be part of SpaceX's broader growth strategy.

Verizon shares have dipped on fears that SpaceX could compete against it in the mobile space.