Stocks Lower at Midday as Oil Prices Hit New Highs
Stocks are lower at midday as traders keep an eye on rising oil prices. U.S. crude oil prices rose to their highest level since last June after Iran said it hit an oil tanker with a missile, with West Texas Intermediate crude futures trading above $77 per barrel during the session.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Broadcomrallied after the company said it expects artificial intelligence chip sales toin 2027OpenAI toppedas of end of last month, The Information reportsKrogerreported better-than-expected Q4 adjusted EPS, but gave arange that missed consensus at the midpointAmerican Eagle (AEO) reported what Telsey Advisory said wereStubHubreported Q4 GMS and revenue about 7% below consensus estimates, while the FY26 outlook for GMS and EBITDA came in2. WALL STREET CALLS:Meta Platformsto Neutral from Buy at AreteScotiabankMongoDBto Outperform following its post-earnings selloffPenn Entertainmentto Buy at BenchmarkBernsteinCoreWeaveat Underperform on hyperscaler competition riskJPMorgan and WedbushStubHubto Neutral after its earnings miss and guidance reset3. AROUND THE WEB:UniQure'sgene therapy for Huntington's disease has shown promising early results, but the FDA is requiring a new trial with a sham-surgery placebo group to prove its effectiveness, Bloomberg saysAlibabasaid it would set up a new task force to accelerate foundation model development, following the resignation of its Qwen AI division head Lin Junyang, Reuters reportsTencent'sSupercell is cooperating with a U.S. government security probe investigating its parent company's data practices, Bloomberg saysNvidiahas stopped production of its second-most advanced artificial intelligence chips, known as H200 chips, intended for the Chinese market, FT reportsSonyno longer plans to release its big single-player PlayStation 5 games on PC, a major strategy shift that sees it returning to console exclusivity, Bloomberg says4. MOVERS:Tango Therapeuticsgains after reportingand entering a clinical collaboration agreement with ErascaPalladyne AIincreases afterits guidance for FY26Alto Ingredientsand Ampriushigher afterquarterly resultsGrocery Outletfalls afterquarterly results and providing an update on its restructuring planPepGenlower afterquarterly results and announcing the FDA placed a partial clinical hold on Phase 2 trial of PGN-EDODM15. EARNINGS/GUIDANCE:BJ's WholesaleQ4 results, with EPS and revenue beating consensusJD.comQ4 results, with CEO Sandy Xu commenting, "We were pleased to close out 2026 with fourth quarter results in line with expectations"TeadsQ4 results and provided guidance for Q1 and FY26Victoria's SecretQ4 results, with CEO Hillary Super commenting, "We delivered an exceptional fourth quarter and a standout year"CienaQ4 results and provided guidance for Q2INDEXES:Near midday, the Dow was down 1.58%, or 768.33, to 47,971.08, the Nasdaq was down 0.39%, or 85.62, to 22,718.75, and the S&P 500 was down 0.71%, or 49.08, to 6,820.42.
