These are the stocks posting the largest moves before the bell.Market Insiderread more
Target beats second-quarter earnings expectations thanks to an increase in traffic and sales. The retailer also boosts its full-year estimates.Retailread more
Bank of America CEO Brian Moynihan is not worried about an economic slowdown as the U.S. consumer is still in a strong place.Banksread more
Fitbit is hoping to shift its business model from relying on hardware sales to selling health plans and governments on software and services.Technologyread more
Lowe's also tops rival Home Depot on same-store sales growth in the U.S.Retailread more
"As long as the trade situation remains fluid, it will present an additional layer of uncertainty and complexity as we plan our business," Target CEO Brian Cornell said.Retailread more
Hedge funds are steering away from battered tech and semiconductor stocks, while bottom-fishing in health care names, according to Goldman Sachs.Marketsread more
Dow to open higher; strong retail earnings; Gundlach says Fed lost control; negative-yielding corporate debt soars; and Trump on payroll tax cutMarketsread more
(Adds comments from LinkSpace CEO on next-generation rocket)
BEIJING, Aug 10 (Reuters) - Chinese startup LinkSpace on Saturday completed its third test of a reusable rocket in five months, stepping up the pace in China's race to develop a technology key to cheap space launches in an expected global boom in satellite deployment.
LinkSpace's RLV-T5 rocket blasted off in a desert in western Qinghai province at 0230 GMT. It flew as high as 300 metres (984 feet) before returning to the launchpad on its own after 50 seconds, CEO Hu Zhenyu, 26, told Reuters.
The Beijing-based company aims to launch its next-generation RLV-T16 next year that will be capable of reaching an altitude of up to 150 kilometres, Hu said.
The RLV-T5 previously hovered 20 metres and 40 metres above the ground in two tests in March and April respectively.
China envisions constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft and rural areas to tracking coal shipments and commuter traffic.
Reliable, low-cost and frequent launches will be key, with recoverable or partially recoverable rockets like the Falcon 9 from Elon Musk's SpaceX one pathway to eventually affordable satellite deployment missions.
SpaceX has already used recoverable rockets on a number of orbital missions since a historic launch early in 2017, spurring Europe, Russia, Japan and China to speed up their own research into the technology or at least consider studying it.
LinkSpace's test flight on Saturday came on the heels of a historic delivery of a satellite into orbit last month by privately owned Chinese firm iSpace.
Beijing-based iSpace told Reuters last week that it was also planning to launch a recoverable rocket, in 2021.
The reusable design of its next-generation rocket could lead to a predicted cost reduction of 70%, iSpace estimated.
LinkSpace previously told Reuters it hoped to charge no more than 30 million yuan ($4.25 million) per reusable launch.
That's a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-altitude aircraft and is not reusable. ($1 = 7.0613 Chinese yuan renminbi) (Reporting by Ryan Woo; Editing by Joseph Radford and Stephen Powell)