Global Business Travel Shares Surge 57% on Acquisition Deal
Futures are mixed to lower this morning after a geopolitical flare-up tied to the Strait of Hormuz, with conflicting headlines around a potential U.S.-Iran incident driving volatility. Oil is back above $110 and that's pushing yields higher and reintroducing macro tension into what had been an earnings-driven rally. The S&P 500 is coming off a five-week winning streak and just printed another all-time high on Friday, with one of the lowest earnings miss rates in decades.Rates are grinding higher again, with the 10-year back into the mid-4% range. Oil is becoming a headwind and geopolitics are seemingly now active intraday drivers. There's also a growing sense of late-cycle behavior in pockets of the market. AI-linked names are still ripping, while other areas are far more sensitive to guidance.In pre-market trading, S&P 500 futures fell 0.08%, Nasdaq futures rose 0.09% and Dow futures fell 0.26%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Global Business Travelup 57% after entering into a definitive agreement to be acquired by Long Lake Management for $9.50 per share in an all-cash transaction valued at approximately $6.3BCelcuityup 14% after announcing the PIK3CA mutant cohort of the Phase 3 VIKTORIA-1 clinical trial achieved its primary endpointeBayup 7% after confirming that it has received an unsolicited, non-binding acquisition proposal from GameStopFG Nexusup 4% after announcing the formation of a special committee of the company's board of directors comprised solely of independent directors to evaluate strategic alternativesUP AFTER EARNINGS -Axsome Therapeuticsup 3%Tyson Foodsup 1%DOWN AFTER EARNINGS -Norwegian Cruise Linedown 5%Pinnacle Westdown 2%LOWER -GameStopdown 3% after the company submitted a non-binding proposal to acquire 100% of eBay at $125.00 per share in cash and stockAMDdown 1% after HSBC downgraded the stock to Holdwith a price target of $340, up from $335
