Major Averages Mixed as Tech Stocks Face Pressure
The major averages were mixed near noon following the long weekend, reflecting renewed concerns about artificial intelligence-related disruption after last week's weakness in tech and software stocks. Stocks experiencing weakness amid such concerns include software names like ServiceNow, Autodesk, and Salesforce.Looking to commodities, gold was sharply lower, reversing some of last week's gains, while oil was also trading lower.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Warner Bros. Discoverywillwith Paramount Skydance, though Netflixretains its matching rightsDanaherMasimofor $180 per share in cash, or a total consideration of $9.9BActivist investor Elliott has built a more than 10% stake in Norwegian Cruise Line,Meanwhile, Jana Partners has built a stake in Fiserv,Medtronicreportedand reiterated its FY26 earnings guidance2. WALL STREET CALLS:Dollar Treeto Buy at Rothschild & Co RedburnRothschildDollar Generalto Sell on valuationShopifyto Buy at Truist amid market dislocationRivianto Underperform at DA Davidson on R2 ramp risksBitGocoverage wasaround the Street with mainly Buy and equivalent ratings3. AROUND THE WEB:Gemini'sCOO Marshall Beard, CFO Dan Chen, and chief legal officer Tyler Meade have all left the company, Bloomberg saysVolkswagenintends to cut costs by 20% across its brands by the end of 2028, Reuters reportsEli Lillyintends to turn India into a hub for its global supply chain, Reuters saysBayeris preparing a $10.5B settlement plan to address ongoing and future cancer claims tied to Roundup, Bloomberg says4. MOVERS:Compass Pathwaysincreases in New York after announcing itsachieved its primary endpointZIM Integratedgains in New York after announcing it will be(HLAGF) for $35 per share in casheTorohigher in New York afterand approving a $100M increase to its share repurchase programOcular Therapeutixfalls after reporting results from the SOL-1of AxpaxliNeoGenomicslower afterand providing guidance for FY265. EARNINGS/GUIDANCESomnigroupand provided guidance for FY26, with CEO Scott Thompson commenting, "These results mark a continuation of the strength we displayed throughout the year"Itronand provided guidance for Q1 and FY26LGI Homes, with EPS beating consensusValmont, with EPS and revenue missing consensusLeidos, with CEO Tom Bell commenting, "Our performance this quarter and throughout the year underscores the incredible resilience of our team"INDEXES:Near midday, the Dow was up 0.13%, or 63.60, to 49,564.53, the Nasdaq was down 0.07%, or 16.05, to 22,530.62, and the S&P 500 was up 0.04%, or 2.41, to 6,838.58.
About the author




