AVO News & Events

The major averages were mixed but mostly lower despite oil prices pulling back, as yesterday's surge in chip stocks failed to build on its momentum. The fresh pressure on companies in the AI space reflects the lingering skepticism that part of the rally for chips and datacenter suppliers in recent quarters may have been overblown. Oil prices have pulled back after reports of a ceasefire between Israel and Iran, easing concerns about a major supply disruption, though investors are largely in wait-and-see mode ahead of tomorrow's CPI inflation report, which could influence expectations for the Fed's path through the second half of the year. Also keeping the market on edge, President Trump said in a social media post that Iranians shot down a U.S. helicopter over the Strait of Hormuz and that "the United States must, of necessity, respond to this attack."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has confidentially filed for an IPO with the SEC,GSKNuvalentfor $10.6B, or $124 per shareJ.M. Smuckerreportedand provided FY27 guidanceBroadcom, Apollo Global, and BlackstoneAnthropic launchedand Claude Mythos 52. WALL STREET CALLS:FuelCellto Buy at CanaccordKeefe BruyetteToll Brothersto OutperformKeefe paired the upgrade of Toll with aof Lennarto UnderperformPrudentialto Hold at Argus on Japan issuesMagnitewith a Buy at BTIG3. AROUND THE WEB:Googleconvinced the Federal Circuit Court of Appeals to restore two smart-speaker patents that allegedly were infringed by audio equipment maker SonosAncora is pushing Ashlandto pursue a sale, Reuters saysThe U.K. is conducting a review of its National Health contract with Palantiramid growing pressure for the government to use a break clause at the end of the contract's initial term in 2027, Reuters reportsNuvei is in talks to acquire Payoneer Global, Reuters reportsWalmartplans to announce the departure of Diana Marshall, the chief experience officer at Sam's Club, WSJ reports4. MOVERS:Veecogains after announcing a follow-on order for itsMission Produceincreases after, providing guidance for Q3, and announcing a new $100M share repurchase programVNetand GDS Holdingshigher in New York after BloombergChina is preparing to spend $295B on building data centers across the countryUnited Natural Foodslower afterand narrowing its guidance for FY26Universal Technicalfalls after announcing a5. EARNINGS/GUIDANCE:SailPoint, with CEO Mark McClain saying "robust top- and bottom-line growth, underscores the critical market demand for comprehensive identity security"Land's Endand provided guidance for Q2 and FY26Titan Machinery, with EPS missing consensusDesigner Brandsand backed its guidance for FY26Academy Sportsand raised its guidance for FY26INDEXES:The Dow rose 86.10, or 0.17%, to 50,872.11, the Nasdaq lost 250.84, or 0.97%, to 25,678.82, and the S&P 500 declined 19.08, or 0.26%, to 7,386.65.

The major averages were broadly lower near noon despite oil prices pulling back, as yesterday's surge in chip stocks failed to build on its momentum. The fresh pressure on companies in the AI space reflects the lingering skepticism that part of the rally for chips and datacenter suppliers in recent quarters may have been overblown. Oil prices have pulled back after reports of a ceasefire between Israel and Iran, easing concerns about a major supply disruption, though investors are largely in wait-and-see mode ahead of tomorrow's CPI inflation report, which could influence expectations for the Fed's path through the second half of the year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has confidentially filed for an IPO with the SEC,GSKNuvalentfor $10.6B, or $124 per shareJ.M. Smuckerreportedand provided FY27 guidanceBroadcom, Apollo Global, and BlackstoneVail Resortsreportedand lowered its FY26 Resort Reported EBITDA guidance2. WALL STREET CALLS:FuelCellto Buy at CanaccordKeefe BruyetteToll Brothersto OutperformKeefe paired the upgrade of Toll with aof Lennarto UnderperformPrudentialto Hold at Argus on Japan issuesMagnitewith a Buy at BTIG3. AROUND THE WEB:The U.K. is conducting a review of its National Health contract with Palantiramid growing pressure for the government to use a break clause at the end of the contract's initial term in 2027, Reuters reportsNuvei in talks to acquire Payoneer Global, Reuters reportsVodafoneThree, formed by the merger between Vodafone UKand Three last year, has tabled a bid for the consumer operations of struggling rival TalkTalk, which has 1.75M customers, FT saysWalmartplans to announce the departure of Diana Marshall, the chief experience officer at Sam's Club, WSJ reportsA group of eight aerospace and defense companies led by Airbusis planning a collaboration to develop a German-led European alternative to the doomed Franco-German fighter jet, FT reports4. MOVERS:Veecogains after announcing a follow-on order for itsMission Produceincreases after, providing guidance for Q3, and announcing a new $100M share repurchase programVNetand GDS Holdingshigher in New York afterChina is preparing to spend $295B on building data centers across the countryUnited Natural Foodslower afterand narrowing its guidance for FY26Universal Technicalfalls after announcing a5. EARNINGS/GUIDANCE:SailPoint, with CEO Mark McClain saying "robust top- and bottom-line growth, underscores the critical market demand for comprehensive identity security"Land's Endand provided guidance for Q2 and FY26Titan Machinery, with EPS missing consensusDesigner Brandsand backed its guidance for FY26Academy Sportsand raised its guidance for FY26INDEXES:Near midday, the Dow was down 0.46%, or 235.06, to 50,550.95, the Nasdaq was down 1.79%, or 463.17, to 25,466.50, and the S&P 500 was down 1.06%, or 78.74, to 7,326.99.

Stock futures are pointing higher this morning as investors continue to rotate back into AI and semiconductor names after last week's sharp selloff. Chip stocks have led the rebound, helping Nasdaq futures outperform while the broader market remains more cautious.Oil prices have pulled back after reports of a ceasefire between Israel and Iran, easing concerns about a major supply disruption and helping improve risk sentiment across global markets. Investors are largely in wait-and-see mode ahead of tomorrow's CPI inflation report, which could influence expectations for the Fed's path through the second half of the year.In pre-market trading, S&P 500 futures rose 0.45%, Nasdaq futures rose 0.83% and Dow futures rose 0.34%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Nuvalentup 38% after GSKannounced an agreement to acquire the company for $10.6BApplied Digitalup 11% after entering into a new long-term lease agreement at Delta Forge 2, a purpose-built AI Factory campus located in a new southern stateCeco Environmentalup 1% after raising its full-year outlook to add Thermon to the balance of the year following the acquisition completion.UP AFTER EARNINGS -J.M. Smuckerup 3%Academy Sportsup 2%DOWN AFTER EARNINGS -United Natural Foodsdown 15%Designer Brandsdown 14%SailPointdown 14%Vail Resortsdown 4%Mission Producedown 3%LOWER -Perrigodown 1% after CEO Patrick Lockwood-Taylor resigned as president and CEO

Tech and Energy sectors in the S&P 500 have rarely tracked together over the past few months, with headlines related to Middle East tensions driving up inflation fears, which were then felt through upward pressure in Treasury yields while discouraging inflows into higher-beta areas of the market.  On Monday, however, Energy and Tech were the best two sectors in the S&P 500 amid sustained escalation between US and Iran as well as a bounce-back in Semiconductors and Computer Hardware names following Friday's rout.   In turn, the less-cyclical Utilities was the worst performing sector today and also bears the distinction of the biggest loser since the U.S.-Iran war began in early March, as yield-seeking funds opted for higher fixed income allocations.In the opening hour of the evening session, NASDAQ 100 contract and S&P E-minis are both down by a decimal.  In commodities, WTI crude oil remains above $91 per barrel despite comments from President Trump in a press interview promising the end of Iran war in two weeks.  Metals have also remained under pressure following Friday's sell-off - gold trades at $4,350 and silver is staying well below $70 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Gloo Holdingsup 5.1%ALSO HIGHER -Applied Digitalup 8.4% after announcing new long-term lease agreement at Delta Forge 2DOWN AFTER EARNINGS -Mission Producedown 5.0%Vail Resortsdown 4.2%ALSO LOWER -IDEAYA Biosciencesdown 7.8% after equity offering