LZB News & Events

The major averages closed lower after the Federal Reserve, now under new chair Kevin Warsh, voted 12-0 to keep the target range for the federal funds rate unchanged at 3.5%-3.75%. Of note, in the committee's quarterly summary of economic projections, half of the respondents indicated they expect at least one rate hike this year, with some committee members projecting two or three. In a dramatically shorter post-meeting statement, the Fed said that inflation remains elevated, but committed that the committee will "deliver price stability."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Jabilprovided areport for Q3La-Z-Boyreportedand announced a new $300M share repurchase programCarMaxreportedDiana Shippingraised itsGenco Shippingto $27.34 per shareThe U.S. Federal Reserve kept the target for theat 3.50%-3.75%2. WALL STREET CALLS:RothschildLyftto Buy on autonomous vehicle upsideLeidosto Neutral at BofA on increasing healthcare pressureCiti highlights AI ramp incoverage of Figmawith a BuyCarter'sto Equal Weight from Underweight at Wells FargoResMedto Equal Weight at Morgan Stanley3. AROUND THE WEB:Activist investor Toms Capital is targeting Devon Energy, FT reportsNew DiageoCEO Dave Lewis has launched a "significant" restructuring efforts, FT saysMetaCTO Andrew Bosworth acknowledged that the company handled its recent AI reorganization poorly, describing the rollout as "atrocious" in an internal memo, Wired saysPayPalis winding down its decade-old venture investing arm as part of a broader corporate restructuring, with the team shrinking from more than 10 employees in late 2025 to just two and public visibility into the unit's staff largely removed, Fortune reportsOraclesaid on Tuesday that details in a Business Insider report on the collapse of its discussions with Microsoftover a potential leasing deal were inaccurate, according to Reuters4. MOVERS:uniQuregained in New York after announcingfor AMT-130SharonAIwas higher afterBitGoincreased after announcing aLionsgate Studioswas lower in New York afterNetflixhas no plans to pursue a takeover of the companyCME Groupfell after announcingand Lynne Fitzpatrick will succeed5. EARNINGS/GUIDANCE:Deswell Industries, with EPS lower year-over-yearSmith & Wesson Brandson June 17, 2026Accentureon June 18, 2026Krogeron June 18, 2026Safe Bulkerson June 18, 2026INDEXES:The Dow fell 507.12, or 0.98%, to 51,492.55, the Nasdaq lost 354.69, or 1.34%, to 26,021.66, and the S&P 500 declined 91.25, or 1.21%, to 7,420.10.

The major averages were mildly higher near noon, with tech attempting to rebound after weakness in semiconductors and AI names earlier in the week. When the Fed concludes its rate setting meeting later today, markets broadly expect rates to stay unchanged, but will be listening to the tone of the Fed statement and new Fed Chair Kevin Warsh's press conference. Investors are looking for clues on whether policy remains biased toward eventual easing or whether sticky inflation and energy-related concerns push the Fed toward a more cautious stance.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Jabilprovided areport for Q3La-Z-Boyreportedand announced a new $300M share repurchase programCarMaxreportedDiana ShippingGenco Shippingto $27.34 per shareAST SpaceMobileannounced theof BlueBirds 8, 9, and 102. WALL STREET CALLS:RothschildLyftto Buy on autonomous vehicle upsideLeidosto Neutral at BofA on increasing healthcare pressureCiti highlights AI ramp inof Figmawith a BuyCarter'sto Equal Weight from Underweight at Wells FargoResMedto Equal Weight at Morgan Stanley3. AROUND THE WEB:Microsoftis shifting Copilot Cowork to usage-based pricing as enterprise AI workloads become more compute-intensive and expensive to support, Axios saysMetaCTO Andrew Bosworth acknowledged that the company handled its recent AI reorganization poorly, describing the rollout as "atrocious" in an internal memo, Wired saysPayPalis winding down its decade-old venture investing arm as part of a broader corporate restructuring, with the team shrinking from more than 10 employees in late 2025 to just two and public visibility into the unit's staff largely removed, Fortune reportsOraclesaid on Tuesday that details in a Business Insider report on the collapse of its discussions with Microsoftover a potential leasing deal were inaccurate, according to ReutersVolkswagenis using sealed-bid submissions and supervisory board recusals to manage potential conflicts of interest in the planned $10B sale of its engine unit, FT reports4. MOVERS:uniQuregains in New York after announcing plans for afor AMT-130SharonAIhigher after announcing aBitGoincreases after announcing aLionsgate Studioslower in New York afterNetflixhas no plans to pursue a takeover of the companyCME Groupfalls after announcing CEO Terryand Lynne Fitzpatrick will succeed5. EARNINGS/GUIDANCE:Deswell Industries (DSWL), with EPS lower year-over-yearSmith & Wesson Brands (SWBI)on June 17, 2026Accentureon June 18, 2026Krogeron June 18, 2026Safe Bulkerson June 18, 2026INDEXES:Near midday, the Dow was up 0.48%, or 247.82, to 52,247.49, the Nasdaq was flat at 26,378.68, and the S&P 500 was up 0.10%, or 7.81, to 7,519.16.

Stock futures are modestly higher this morning, with tech attempting to rebound after weakness in semiconductors and AI names earlier in the week.  The main focus today is not whether rates move, as markets broadly expect rates to stay unchanged, but rather the tone of the Fed statement and new Fed Chair Kevin Warsh's press conference. Investors are looking for clues on whether policy remains biased toward eventual easing or whether sticky inflation and energy-related concerns push the Fed toward a more cautious stance.  Hopes surrounding a U.S.-Iran agreement have pressured oil prices lower from recent highs, easing some inflation concerns and helping sentiment recover after recent volatility.In pre-market trading, S&P 500 futures rose 0.10%, Nasdaq futures rose 0.57% and Dow futures fell 0.01%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Aehr Test Systemsup 8% after announcing follow-on production order for a wafer-level burn-in systemAST SpaceMobileup 7% after launching three new satellites into orbitGenco Shippingand Dianna Shippingup 5% and 1%, respectively, after Dianna issued an increased buyout proposal to GencoFigmaup 3% after Citi initiated coverage of the stock with a Buy rating and $36 price targetUP AFTER EARNINGS -La-Z-Boyup 17%Jabilup 6%CarMaxup 1%LOWER -Lionsgate Studiosdown 7% after a report pushed back on the idea that Netflixwas interested in buying the company