FGNX News & Events

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

FG Nexus announced the formation of a special committee of the company's board of directors comprised solely of independent directors to evaluate strategic alternatives. Initially, the special committee will evaluate the previously announced potential business combination with FG Communities. The proposed transaction is considered a related party transaction because FG Communities was founded by FG Nexus' chairman and CEO and is controlled by several persons, including Kyle Cerminara, who are affiliated with the company. The special committee has retained an independent financial advisor to assist in its and the board's evaluation and negotiation of the potential transaction and/or other strategic alternatives and, if pursued, to provide a fairness opinion for the potential transaction. The board's discussions with respect to the potential transaction are preliminary in nature and no decisions or agreements have been reached. There can be no assurance that the potential transaction will be pursued or consummated.

FG Nexus files to sell 8M shares of common stock for holders