OpenAI Financial Concerns Weigh on Tech Stocks

The major averages were mostly lower near noon, with the Dow marginally higher but the S&P 500 and Nasdaq slipping amid a report highlighting weakness in OpenAI as well as an increase in oil prices. Multiple tech stocks were slipping after the OpenAI report, which said CFO Sarah Friar told leadership she was concerned the ChatGPT maker may not be able to pay computing contracts in the future if it doesn't hit expansion goals quickly enough. The news comes amid a big week for corporate earnings, particularly with tech titans Alphabet, Amazon, Meta, Microsoft, and Apple set to report this week.Meanwhile, tensions between Washington and Tehran remain high as President Trump reportedly is unhappy with Iran's proposal to end the war. Such tensions combined with the UAE announcing it will leave OPEC and OPEC+ have impacted oil prices, which are back to hovering around the $100 per barrel mark.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has missed its internal targets for users and revenue,Coca-Colareportedand reiterated its FY26 revenue growth outlookUPSreportedand provided guidance for FY26 adjusted earnings growthGeneral Motorsprovided areport for Q1IACplans to change name toand said it will implement a workforce reduction2. WALL STREET CALLS:TFI Internationalto Buy at BofAOld Dominionto Neutral from Underperform at BairdTronoxto Sell at TruistRambusto Neutral at BairdDA DavidsonMicronat Buy on "longer-than-usual" memory cycle3. AROUND THE WEB:Metais preparing to undo its acquisition of AI startup Manus after China banned the transaction, WSJ saysThe Federal Communications Commission is moving toward a review of Disney'sbroadcast licenses amid the Trump administration's fight with Jimmy Kimmel, Semafor reportsFedExplans to return its MD-11 cargo jets to service next month, a move which will allow the company to cut back on expensive leased planes it has enlisted since regulators grounded all MD-11s following another carrier's crash in November, WSJ saysSalesforceand Slack are suing Microsoftat London's High Court over alleged anticompetitive practices utilized by the Teams app, Reuters reportsParamount Skydancefiled a petition to the Federal Communications Commission seeking permission for significant ownership by Middle East sovereign wealth funds, WSJ says4. MOVERS:Sanminagains afterand announcing the authorization of a $600M share buybackSolaris Energyincreases after, raising its guidance for Q2 and signing a third long-term power contractBridgeBioslips after Pfizerenteredfor VyndamaxErascalower after disclosing aafter withdrawing from its Phase 1 trial for ERAS-0015Celesticafalls in New York afterand providing guidance for Q25. EARNINGS/GUIDANCE:Ecolab, with EPS in-line with consensusKiniksaand raised its guidance for FY26S&P Globalwith CEO Martina Cheung commenting, "We are pleased with the results we achieved in the first quarter"Operaand provided guidance for Q2 and FY26Asbury Automotive, with EPS and revenue missing consensusINDEXES:Near midday, the Dow was up 0.13%, or 64.54, to 49,232.33, the Nasdaq was down 1.43%, or 356.21, to 24,530.90, and the S&P 500 was down 0.78%, or 56.00, to 7,117.91.