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The major averages closed fractionally lower as escalating tensions with Iran, including the seizure of an Iranian-flagged cargo ship and renewed threats from President Trump, raised concerns ahead of an expiring ceasefire. Iran's refusal to participate in peace talks further heightened geopolitical uncertainty and weighed on market sentiment, though the pullback was fairly muted. Of note, Trump said in a phone interview with Bloomberg that it is "highly unlikely" the two week ceasefire with Iran will be extended if a deal is not reached before it ends on Wednesday.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:QXOTopBuildfor $17B in a cash and stock transactionEli LillyKelonia Therapeutics, with Kelonia to receive up to $7B in cashAmerican Airlinessaid it isin any merger talks with United AirlinesAST SpaceMobileslipped after Blue Origin's flagship New Glenn rocket failed to place one of its satellitesPresident Trump signed an executive order toto the substances used outside the U.S to treat post-traumatic stress disorder2. WALL STREET CALLS:Wells FargoBiogento Overweight on pipeline outside Alzheimer'sBarclaysAvis Budgetto sell after "sharp short squeeze"Ulta Beautyto Buy at JefferiesMizuhoQorvoto Underperform on handset weaknessOktato Overweight at Barclays3. AROUND THE WEB:A tornado damaged part of Rivian's (RIVN) central Illinois plant over the weekend, CNBC reportsJersey Mike's Subs, Blackstone-backedsandwich chain with more than 3,000 locations, submitted a confidential filing with the U.S. Securities and Exchange Commission for its initial public offering, Bloomberg saysThe family that owns Brown-Forman, the maker of Jack Daniel's whiskey, favors a potential sale to the French distiller Pernod Ricardover an alternative proposal from privately-held American rival Sazerac, Bloomberg reportsThe National Security Agency is using Anthropic's advanced "Mythos Preview" model even as Department of Defense officials have labeled the company a potential supply chain risk, highlighting internal tensions over AI adoption and security concerns, Axios saysPeruvian officials looking to purchase new fighter jets concluded buying aircraft from Lockheed Martinwould be in the nation's best interest due to its price and in hopes the U.S. could become a major defense ally, Bloomberg reports4. MOVERS:Nektargained afterfrom its Phase 2b REZOLVE-AA studySila Realty Trustrose after announcing it will befor $30.38 per shareUSA Rare Earthincreased after announcing an agreement toAgiosfell after Novo NordiskreportedFermiclosed lower after announcing the exits of its CEO and CFO5. EARNINGS/GUIDANCE:Nano-X Imagingand reaffirmed its guidance for FY26Dynex Capital, with EPS missing consensusBank of Hawaii, with CEO Jim Polk commenting that the bank "began the year on firm footing"Cleveland-Cliffs, with EPS and revenue beating consensusSurf Air Mobilityreaffirmed itsINDEXES:The Dow fell 4.87, or 0.0098%, to 49,442.56, the Nasdaq lost 64.09, or 0.26%, to 24,404.39, and the S&P 500 declined 16.92, or 0.24%, to 7,109.14.

The major averages were broadly lower near noon as escalating tensions with Iran, including the seizure of an Iranian-flagged cargo ship and renewed threats from President Trump, raised concerns ahead of an expiring ceasefire. Iran's refusal to participate in peace talks further heightened geopolitical uncertainty and weighed on market sentiment, though the pullback has been fairly muted so far.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:QXOTopBuildfor $17B in a cash and stock transactionEli LillyKelonia Therapeutics, with Kelonia to receive up to $7B in cashAmerican Airlinessaid it isin any merger talks with United AirlinesAST SpaceMobilewas slipping after Blue Origin's flagship New Glenn rocket failed to place one of its satellitesPresident Trump signed an executive order toto the substances used outside the U.S to treat post-traumatic stress disorder2. WALL STREET CALLS:Wells FargoBiogento Overweight on pipeline outside Alzheimer'sBarclaysAvis Budgetto sell after "sharp short squeeze"Ulta Beautyto Buy at JefferiesMizuhoQorvoto Underperform on handset weaknessOktato Overweight at Barclays3. AROUND THE WEB:Jersey Mike's Subs, Blackstone-backedsandwich chain with more than 3,000 locations, submitted a confidential filing with the U.S. Securities and Exchange Commission for its initial public offering, Bloomberg saysThe family that owns Brown-Forman, the maker of Jack Daniel's whiskey, favors a potential sale to the French distiller Pernod Ricardover an alternative proposal from privately-held American rival Sazerac, Bloomberg reportsGooglehas formed a specialized team of researchers and engineers to enhance its AI coding models, aiming to increase automation in software development and AI research, The Information saysThe National Security Agency is using Anthropic's advanced "Mythos Preview" model even as Department of Defense officials have labeled the company a potential supply chain risk, highlighting internal tensions over AI adoption and security concerns, Axios saysPeruvian officials looking to purchase new fighter jets concluded buying aircraft from Lockheed Martinwould be in the nation's best interest due to its price and in hopes the U.S. could become a major defense ally, Bloomberg reports4. MOVERS:Nektarhigher afterfrom its Phase 2b REZOLVE-AA studySila Realty Trustgains after announcing it will beaffiliates for $30.38 per shareUSA Rare Earthincreases after announcing an100% of Serra Verde GroupAgiosfalls after Novo Nordiskin sickle cell diseaseFermilower afterit was short on the company5. EARNINGS/GUIDANCE:Nano-X Imagingand reaffirmed its guidance for FY26Dynex Capital, with EPS missing consensusBank of Hawaii, with CEO Jim Polk commenting that the bank "began the year on firm footing"Cleveland-Cliffs, with EPS and revenue beating consensusSurf Air Mobility (SRFM)for FY26INDEXES:Near midday, the Dow was down 0.12%, or 57.71, to 49,389.72, the Nasdaq was down 0.68%, or 165.54, to 24,302.94, and the S&P 500 was down 0.42%, or 29.79, to 7,096.27.

Stock futures declined Monday as escalating tensions with Iran, including the seizure of an Iranian-flagged cargo ship and renewed threats from President Trump, raised concerns ahead of an expiring ceasefire. Iran's refusal to participate in peace talks further heightened geopolitical uncertainty and weighed on market sentiment.In pre-market trading, S&P 500 futures declined 0.37%, Nasdaq 100 futures lost 0.32% and Dow futures fell 0.42%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Energy stocks moved higher as U.S.-Iran tensions flared up over the weekend, with Chevronup 1%Marvellup 6% after The Information said that Googleis in talks with the company to develop two new chips that will focus on running AI models more efficientlyTopBuildup 20% after QXOannounced plans to buy the company for $17B, or $505 per shareUSA Rare Earthup 8% after agreeing to buy Brazil's Serra Verde Group in a cash-and-stock transactionMP Materialsup 3% after Wedbush initiated the stock with an Outperform ratingNektar Therapeuticsup 17% after results from a blinded 16-week treatment extension period showed positive response in its Phase 2b Rezolve-AA studyPsychedelic-related stocks rose after President Donald Trump signed an executive order to expedite research and access to the substances used outside the U.S to treat post-traumatic stress disorder, with AtaiBeckleyup 25%DOWN AFTER EARNINGS -Cleveland-Cliffsdown 1%Dynex Capitaldown 2%Nano-X Imaging, down 11%LOWER -AST SpaceMobiledown 13% after Blue Origin's flagship New Glenn rocket failed to correctly place a satellite made by the company in its intended orbitAmerican Airlinesand Carnivalled airline and cruise operators lower, down 3% and 2%, as the prospects of fuel prices staying at elevated levels weigh on sentimentAvis Budgetdown 3% after Barclays downgraded the stock to UnderweightFermidown 20% after the company said its CEO and CFO have stepped downDoximitydown 3% after Truist downgraded the stock to Hold