NCSM News & Events

The major averages were mixed near noon as investors weigh escalating U.S.-Iran tensions against continued strength in the AI trade. Oil prices surged following weekend developments involving Iran, raising concerns that energy costs could once again become a source of inflation pressure. Of note, Iranian state media reported that the country's negotiators are ceasing communication with the U.S. and that Iran will completely close off the Strait of Hormuz because of Israel's attacks on Lebanon.Meanwhile, Nvidia led technology stocks higher following the launch of a new chip for PCs. The news comes as traders continue to funnel money into AI-related names, semiconductors, data-center infrastructure, and power-generation plays.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiadeveloped in partnership with Microsoftthat will be incorporated into a new RTX Spark chip for PCsTaylor Morrisonby Berkshire Hathawayfor $72.50 per share in cashPeople IncorporatedMGM Resortsfor $48.30 per share in cashWeatherfordNCS Multistagein a cash and stock transactionYum! Brandsis in exclusive talks to sell its Pizza Hut business to LongRange Capital,2. WALL STREET CALLS:Dell Technologiesto Equal Weight at Morgan StanleyCampbell'sto Equal Weight at StephensKohl'sto Buy at CitiRedwireto Hold at Jefferies following 223% advanceHawkEye 360with mostly Buy and equivalent ratings3. AROUND THE WEB:Inteland 3DGS Inc. USA will invest about $3.3B to build a semiconductor substrate manufacturing plant in the Odisha's Bhubaneswar-Khurda region, Reuters reportsApproximately 1,000 workers at the American Axle plant in Three Rivers, Michigan are set to strike, which will stall production of key parts for certain General Motorstrucks, WSJ saysMetahas agreed to pay about $27M to settle a lawsuit filed by a Kentucky school district, Bloomberg saysAppleis delaying iPhone-connected smart glasses to late 2027, aiming to disrupt the mid-tier $200-$500 eyewear market the way it disrupted the watch market, Bloomberg reportsSoftBankhas become Japan's largest company in market value, driven by AI demand and rising global investor interest in the sector, FT says4. MOVERS:Optimum Communicationshigher afterfor shares of stockREalloysincreases after announcing it will be included in theAMCgains after recording itssince 2019Immuneeringfalls afterfrom its Phase 2a trial evaluating atebimetinib in combination with modified gemcitabine/nab-paclitaxelBlackSkylower after Jefferiesthe stock to Hold from Buy5. EARNINGS/GUIDANCE:Rapid7for Q2 and FY26SAICand raised its guidance for FY27Humanafor FY26Cango, with EPS and revenue lower year-over-yearBroadcomon June 3, 2026INDEXES:Near midday, the Dow was down 0.22%, or 111.40, to 50,921.06, the Nasdaq was up 0.23%, or 61.30, to 27,033.92, and the S&P 500 was up 0.05%, or 4.09, to 7,584.15.

Stock futures are modestly higher to start the month of June as investors weigh escalating U.S.-Iran tensions against continued strength in the AI trade. Treasury yields are ticking higher ahead of a busy week of economic data. The market's immediate focus is on Friday's employment report, which could significantly influence expectations for Federal Reserve policy over the second half of the year.The biggest story beneath the surface remains the divergence between macro concerns and equity performance. Geopolitical tensions, elevated oil prices and persistent inflation pressures would typically weigh much more heavily on stocks. Instead, investors continue to funnel money into AI-related names, semiconductors, data-center infrastructure, and power-generation plays. That concentration has kept the major indexes near all-time highs even as broader market participation has been uneven.Crude prices moved higher following weekend developments involving Iran, raising concerns that energy costs could once again become a source of inflation pressure. If oil stays elevated, it could complicate the Fed's path and reinforce the market's view that rate cuts may be limited this year.In pre-market trading, S&P 500 futures rose 0.22%, Nasdaq futures rose 0.25% and Dow futures rose 0.33%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Taylor Morrisonup 22% after announcing a definitive agreement for Berkshire Hathawayto acquire the homebuilder for $72.50 per common share in cashMGM Resortsup 13% after CNBCBarry Diller's People plans to make an $18B bid for MGM, offering $48.30 per share in cashNCS Multistage (NCSM) up 12% after Weatherfordentered into a definitive agreement to acquire the companyMicrosoftand Nvidiaup 3% and 2%, respectively, after Nvidia unveiled a new N1X processor developed in partnership with Microsoft that will be incorporated into a new RTX Spark chip for PCsYum! Brandsup 1% after Bloomberg reported Yum is in exclusive discussions to sell its Pizza Hut business to LongRange CapitalUP AFTER EARNINGS -SAICup 12%LOWER -Qualcomm, Inteland AMDdown 7%, 6% and 4%, respectively, after the launch of Nvidia's new PC chip

Weatherford (WFRD) and NCS Multistage (NCSM) announced that Weatherford has entered into a definitive agreement to acquire NCS Multistage. Under the terms of the agreement, NCS Multistage stockholders have an election to receive either Weatherford common stock or a combination of Weatherford common stock and cash. On a blended basis, this is expected to be the equivalent of 0.463 shares of Weatherford common stock for each NCS Multistage share with up to 19.99% of this payable in cash. Annual cost synergies are expected to be at least $15M and be realized within 18 months of closing. The deal is expected to be immediately accretive to adjusted free cash flow per share. The transaction has been approved by the board of directors of Weatherford, the board of directors of NCS Multistage, and the controlling stockholder of NCS Multistage that owns more than 50% of NCS Multistage's outstanding common stock. The transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026. Until the transaction closes, Weatherford and NCS Multistage will continue to operate as separate, independent companies. Under the terms of the agreement, NCS Multistage stockholders can elect to receive either 0.554 shares of Weatherford common stock at closing, or a combination of 0.239 shares of Weatherford common stock and a cash amount equal to 0.137 shares of Weatherford common stock at closing, subject to proration and certain limitations and adjustments. On a blended basis, this is expected to be the equivalent of 0.463 shares of Weatherford common stock with up to 19.99% of the total equity consideration payable in cash.

Reports Q1 revenue $45.64M, consensus $51.22M. NCS's Chief Executive Officer, Ryan Hummer, commented, "Solid execution and momentum in the United States in the first quarter, including the contribution from ResMetrics, partially offset the impact of lower year-over-year industry activity levels in North America, customer-specific job deferrals in Canada in March, and other timing-related delays in certain international projects."