去年12月太空经济板块可以说是中美共振了，美股太空经济几家主力基本上都翻倍了。心头好小火箭RKLB表现也很亮眼。过去一个月对RKLB来说绝对是业务上的超级月：1、拿到了美国太空发展局超过8亿美金，18颗卫星订单。这些卫星还配备卫星配备Rocket Lab的StarLite防护传感器（可防御定向能量威胁），并扩展到向其他承包商供应传感器； 2、同时还拿到加拿大、日本航天机构的新合同； 3、25年全年完成21次Electron火箭发射，年度100%任务成功率（全球小型火箭最活跃）。包括12月为iQPS发射SAR卫星（这是iQPS的第7颗，未来计划5次更多）。 4、中性火箭中子星Neutron进展：首飞仍目标2026年中（Q1运抵Wallops发射台，资格测试中）。Hungry Hippo可重复使用整流罩已完成资格测试； 拿到太空发展局的合同意味着RKLB正式跻身为最大的国防太空承包商之一；如果26年中中子星发射成功，意味着RKLB成功从小型火箭发射升级到中性火箭发射。 美股太空经济股票，有好几只在链上美股平台@MSX_CN 上都能交易，可以关注起来https://t.co/SwrikLq3oN

中美太空资源争夺白热化，这两天一条新闻值得关注，中国在去年12月正式向国际电信联盟（ITU）提交20.3万颗低轨卫星申报，涵盖14个星座，仅两大核心星座CTC-1与CTC-2就各达9.6万余颗，规模相当于美国星链申报总量的近5倍。 本次申报主体包括无线电创新院、中国移动、垣信卫星等机构。无线电创新院于2025年12月29日提交两个近10万颗卫星的巨型星座申请，并于次日（12月30日）完成河北雄安新区注册登记，成为中国无线电管理技术领域首家新型研发机构。 战略意图： 国际电信联盟（ITU）是太空的“规则制定者”，核心规矩就一条：“先申报、先发射、先占用”。低轨（距离地球300-2000公里）是太空里的“黄金地段”，信号快、延迟低，未来6G通信、军事指挥都离不开它，就像城市里的核心停车位，占一个少一个。 老马的星链动手更早：截至2025年底，在轨卫星快到1万颗，占了全球低轨卫星的2/3，还申报了4.2万颗，把好位置占得差不多了 中国此举旨在抢占低轨卫星频轨资源，应对国际竞争。目前全球低轨资源遵循“先占先得”规则，中国通过大规模申报锁定资源。 当然ITU审批通过后并不是一劳永逸，根据ITU规则，申报单位需在7年内发射首颗卫星，第9年完成10%部署，第12年完成50%部署，第14年完成全部部署。 中国现在大规模申报意味着从卫星制造到火箭发射，全产业链都已准备就绪，这是有明确路线图的国家工程，绝不是虚张声势。 所以说太空资源争夺已是白热化

MORNING RECAP Dollar Tree ( $DLTR) Q3: ╌Adjusted EPS: $1.12 (beat by $0.04) ╌Revenue: $7.56B (beat by $120M) ╌Same-store sales growth: Dollar Tree +1.8%, Family Dollar +1.9%, Enterprise +1.8% ╌Q4 Guidance: EPS $2.10-$2.30, Revenue $8.1B-$8.3B ╌Continues strategic review of Family Dollar segment Foot Locker ( $FL) Q3: ╌Adjusted EPS: $0.33 (missed by $0.08) ╌Sales: $1.96B (missed by $60M) ╌Comp sales: +2.4% (below estimate) ╌FY25 adjusted EPS forecast lowered to $1.20-$1.30 from $1.50-$1.70 ╌FY25 comp sales growth narrowed to 1%-1.5% ╌Gross margin now expected at 28.7%-28.8% General Motors ( $GM): ╌To record over $5B in non-cash charges for China JV: ╌Restructuring: $2.6B-$2.9B ╌Reduced value: $2.7B Torrid Holdings ( $CURV) Q3: ╌EPS: ($0.01) (missed by $0.04) ╌Adj EBITDA: $19.584M (missed by $7.2M) ╌Revenue: $263.766M (missed by $22M) ╌Q4 Guidance: Sales $255M-$270M, Adj EBITDA $9M-$15M ╌FY25 Guidance: Sales $1.083B-$1.098B, Adj EBITDA $101M-$107M Volkswagen ( $VWAGY): ╌Recalls 4,616 vehicles in the US due to potential battery overheating/fire risk. Crescent Energy ( $CRGY): ╌Acquires Eagle Ford assets from Ridgemar Energy for $905M upfront, with additional oil price-based payments. Intuitive Machines ( $LUNR): ╌Offers 9.523 million shares at $10.50 each. Old Dominion ( $ODFL) November Performance: ╌LTL tons/day: -8% ╌LTL shipments/day: -6.8% ╌LTL weight/shipment: -1.2% XPO, Inc. ( $XPO) November Metrics: ╌LTL tonnage/day down 4.0% from last year. ╌Shipments/day down 4.2%. ╌Weight/shipment up by 0.2%. Goldman Sachs ( $GS): ╌CEO David Solomon sold 6,550 shares at $610.91/share. Iris Energy ( $IREN): ╌Issues $300M in convertible senior notes due 2030. Raymond James Financial Inc ( $RJF): ╌Authorizes $1.5B share repurchase. ╌Increases dividend to $0.50. Royal Bank of Canada ( $RY) Q4: ╌Adjusted EPS: C$3.07 (up from C$2.65) ╌Revenue: C$15.07B (up from C$12.69B) ╌Dividend raised by 4.2%. Eli Lilly ( $LLY) vs. Novo Nordisk ( $NVO): ╌Zepbound outperforms Wegovy with 20% vs. 14% body weight loss. Novavax ( $NVAX): ╌Sells Czech manufacturing facility to Novo Nordisk for $200M, aiming for $80M annual cost reduction. Revolution Medicines ( $RVMD): ╌Secondary offering of 14.13M shares at $46.00 each. Salesforce Inc. ( $CRM) Q3: ╌Adjusted EPS: $2.41 (vs. est. $2.44) ╌Revenue: $9.44B (vs. est. $9.348B) ╌Q4 Revenue Guidance: $9.9B-$10.1B (vs. est. $10.05B) ╌FY Revenue Guidance: Raised to $37.8B-$38.0B ╌Q4 Adj EPS Guidance: $2.57-$2.62 (vs. est. $2.65) ╌FY Adj EPS Guidance: $9.98-$10.03 (vs. est. $10.11) Box Inc. ( $BOX) Q3: ╌EPS: $0.45 (vs. est. $0.42) ╌Revenue: $275.9M (up 5% y/y, vs. est. $275.1M) ╌RPO: $1.282B, up 13% q/q ╌FY25 EPS Guidance Raised to $1.70 ╌FY25 Revenue Guidance Narrows to $1.09B Couchbase Inc. ( $BASE) Q3: ╌EPS: ($0.35) (vs. est. ($0.08)) ╌Revenue: $51.628M (vs. est. $50.78M) ╌Q4 Revenue Guidance: $52.7M-$53.5M (vs. est. $54.05M) ╌Q4 ARR: $236.5M-$239.5M Marvell Technologies ( $MRVL) Q3: ╌Adjusted EPS: $0.43 (vs. est. $0.41) ╌Revenue: $1.52B (up 6.9% y/y, vs. est. $1.45B) ╌Q4 Adjusted EPS Guidance: $0.59±$0.05 ╌Q4 Revenue Guidance: $1.8B±5% (vs. est. $1.65B) Okta Inc. ( $OKTA): ╌Q3 Adjusted EPS: $0.67 (vs. est. $0.58) ╌Revenue: $665M (vs. est. $649.7M) ╌Q4 Revenue Guidance: $667M-$669M ╌Q4 Adjusted EPS Guidance: $0.73-$0.74 ╌FY Revenue Guidance: $2.595B-$2.597B ╌FY Adjusted EPS Guidance: $2.75-$2.76 Pure Storage ( $PSTG): ╌Q3 Adjusted EPS: $0.50 (vs. est. $0.42) ╌Revenue: $831.1M (vs. est. $814.88M) ╌Q4 Revenue Guidance: $867M ╌Q4 Adjusted Operating Income: $135M NXP Semiconductors ( $NXPI) & Taiwan Semiconductor ( $TSM): ╌Discussing $8B Singapore venture expansion amid U.S.-China tech tensions.