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Stock Market Live June 22, 2026: S&P 500 (SPY) Little Changed as Markets Wait on Iran Progress
Live Coverage Has Ended

B.Riley Starts Roblox at Buy

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By Rich Smith Published

Live Blog Update #2 Published

← Back to Full Coverage: Stock Market Live December 10: S&P 500 (VOO) Flat As Investors Await Interest Rate News

B.Riley analyst Drew Crum initiated coverage of Roblox (NYSE: RBLX | RBLX Price Prediction) stock with a buy rating and a $125 price target this morning. “Roblox has built arguably one of the premier next-generation entertainment platforms,” writes Crum, and is “benefiting from two mutually reinforcing network effects, content and social, often drawing parallels to YouTube.”

Unimpressive Q3 earnings and “tepid near-term guidance” have depressed Roblox stock, but Crum insists Roblox should be “a core holding,” and he recommends “initiating or adding to positions following a -30% correction.” Over time, Crum expects Roblox to capture 10% or more of the global videogaming market. As that happens, he predicts 20% annualized growth in bookings (that’s sales of Robux, which convert to revenue and profit as they’re spent).

Roblox stock opened 0.4% lower despite the report, and still falling, already down more than 2%. Really, the whole market looks kind of depressed this morning, as investors await news of the Fed’s next interest rate move. The Vanguard S&P 500 ETF is still basically at 0.0% change from yesterday’s close.

 

All Updates from Live Coverage

Eaton Dines on Data Center Demand

| Rich Smith
Live
S&P 500 component company Eaton (NYSE: ETN) will open a new manufacturing facility in Henrico County, Virginia in 2027.
“More than 50 new data centers [have been] permitted in Virginia this year,” says Eaton, and the company will double its capacity in Richmond for the producing static transfer switches, power distribution units, and remote power panels that these data centers need.
Eaton stock is up 1.5% on the news. The Voo is now in positive territory, up 0.1%.

Chewy's News

| Joel South
Live

Continuing with earnings news, popular pet food e-tailer Chewy’s (NYSE: CHWY) beat earnings by a couple cents this morning. Q3 profit was $0.32 per share and sales edged out forecasts at just over $3.1 billion.

CEO Sumit Singh said: “Chewy continues to outperform the pet category and expand market share, with profits once again growing faster than sales,” and momentum is building.

Management raised the floor on its sales and earnings guidance for the full year. Previously expecting $12.5 billion to $12.6 billion in sales, and an EBITDA margin between 5.4% and 5.7%, Chewy now says sales will be at least $12.58 billion, and margins at least 5.6%.

Chewy stock is up about 6.5% premarket.

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