Gap Up

With a handful of satellites now in orbit, Amazon.com (Nasdaq: AMZN) has renamed its new “Project Kuiper” satellite communications constellation “Amazon Leo” instead — LEO referring to the satellites’ location in “Low Earth Orbit.”

Amazon just announced it will launch its next batch of satellites December 15, aboard a United Launch Alliance Atlas V rocket, and still aims to have “more than 3,000 spacecraft” in orbit eventually, competing with SpaceX Starlink. A successful launch will bring Leo’s status to 180 satellites in orbit. The company expects it will need to launch a total of at least 80 times to complete the constellation.

Amazon stock is up a modest 0.2% today, but the Voo is now gaining strength again, and up 0.5%.

In other earnings news this morning, BJ’s Wholesale Club (NYSE: BJ) just reported six cents better earnings than expected for its fiscal Q3 2026. Earnings per share were $1.16, while revenue for the quarter nailed the analyst forecast of $5.35 billion.

BJ’s then proceeded to give strong guidance for the rest of fiscal 2026, saying earnings will range from $4.30 to $4.40. Taken at the midpoint, that’s two cents better than analysts had expected. Still, the beat appears to have been not quite big enough to please investors, and BJ’s stock is down about 2% this morning.

The Voo, however, is still up 0.4%.