Major Averages Decline for Second Day, Tech Stocks Lead
The major averages were broadly lower near noon for the second day in a row, with weakness in semiconductors and high-growth technology names leading the declines. Meanwhile, investors are keeping an eye on the oil market following President Trump's cancellations of planned strikes in Iran. Crude oil prices pulled back a little after the news, but remain elevated amid continued tensions in the region.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Home Depotreportedand reiterated its FY26 outlookBlackstonewill invest $5B in awith GoogleAmer Sportsprovided areport for Q1Agilysysreportedand provided guidance for FY27Shake Shackdisclosed that its CEO Robert Lynch and director Daniel Meyeron May 152. WALL STREET CALLS:GuggenheimStubHubwith growth picking up in Q2Jazz Pharmaceuticalsto Buy at UBSX-energy, a developer of advanced small modular nuclear reactors, saw Wall Streetwith a mix of Buy and Hold ratingsBofA"miscast" Zeta Globalwith a BuyBofAof Lightspeedand ZoomInfowith Underperform ratings3. AROUND THE WEB:AI chip startup Tenstorrent is drawing early takeover interest from prospective buyers, including Inteland Qualcomm, as it looks to challenge Nvidiaand AMD, Bloomberg reportsTapestryexpects roughly 70% of its growth over the next several years to come from international markets, with expansion led by its Coach brand and focused primarily on China and Europe, Reuters saysAnalog Devicesis in advanced talks to acquire artificial intelligence chip company Empower Semiconductor for about $1.5B in cash, Bloomberg reportsThe New York Timeshas sued the U.S. Department of Defense, alleging that a new Pentagon policy requiring reporters to be escorted at all times while inside the building violates the First Amendment and unlawfully restricts press access to military officials and facilities, Wemple reportsMexican President Claudia Sheinbaum has conditioned Royal Caribbean'splanned "Perfect Day" water park in Mahahual, Quintana Roo, on the preservation of the local ecosystem, RMN says4. MOVERS:Bakkthigher after Director MichaelRelay Therapeuticsincreases after announcing zovegalisib showedin vascular anomaliesKE Holdingsgains in New York after, with EPS and revenue beating consensusT1 Energy (TE) lower aftersaid it was short on the companyCanadian Solarfalls after Freedom Brokerthe stock to Hold5. EARNINGS/GUIDANCE:Driven Brands, with CEO Danny Rivera commenting, "Driven Brands delivered a solid fourth quarter and full year"Eagle Materials, with EPS and revenue beating consensusBally'swith CEO Robeson Reeves commenting, "We delivered solid first quarter results across the enterprise"Bilibili, with EPS beating consensusAntalphaand provided guidance for Q2INDEXES:Near midday, the Dow was down 0.47%, or 232.99, to 49,453.13, the Nasdaq was down 1.17%, or 306.21, to 25,784.53, and the S&P 500 was down 0.76%, or 56.19, to 7,346.86.
