TTAN News & Events

The major movers were broadly lower near noon, with the weakness concentrated in semiconductor and AI-related stocks following yesterday's sharp selloff in Broadcom, which raised concerns that expectations for the AI trade may have become too aggressive. The U.S. economy added 172,000 jobs in May, well above forecasts of 85,000, and the stronger-than-expected jobs report appears to be reinforcing the "higher-for-longer" interest-rate narrative.Meanwhile, reports indicate that efforts to ease tensions involving Iran have stalled, while uncertainty remains around shipping activity through the Strait of Hormuz. Oil prices have pulled back from their recent peaks, but are still on track for a weekly gain.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:The S&P Dow Jones Indicesproposed a new change to the S&P 500 that would deny SpaceXLululemoncut its, citing "headwinds" and additional actions to reposition where neededDocuSignprovided areport for Q1Guidewirealso provided areport for Q3U.S. nonfarm payrolls rose a better-than-forecast 172,000 in May as the2. WALL STREET CALLS:Teslato Neutral at JPMorgan and to Hold at Erste GroupChipotleto Overweight at JPMorganCrowdStriketo Hold at BerenbergLululemonto Underperform at BNP Paribas and to Neutral at BTIGCraig-Hallum bullish on Aurora Innovation,with a Buy3. AROUND THE WEB:Apollo Global Managementno longer intends to make a takeover offer for Bodycote, ending discussions for the over $2.04B proposal, WSJ saysAppleis expected to introduce a modern version of its chatbot, Siri, that will look more like ChatGPT when the company hosts its annual developer conference next week, WSJ reportsAirbusis falling behind on deliveries of the A321XLR, Bloomberg saysSingapore Airlines is in discussions with Airbus and Boeingto potentially purchase at least 50 jets, Reuters reportsSpaceX'swebsite and IPO marketing documents were inaccessible in Hong Kong and mainland China on Friday, Reuters says4. MOVERS:Concrete Pumpinggains afterand raising its guidance for FY26Merlinup after completing thefor its C-130J autonomy program with the U.S. Special Operations CommandServiceTitanhigher afterKeel Infrastructurelower after announcing aPlanet Labsfalls afterand providing guidance for Q25. EARNINGS/GUIDANCE:G-III Appareland raised its guidance for FY27ABMand backed its guidance for FY26Cooper Companieswith CEO Al White commenting, "We delivered a strong second quarter"Torridwith EPS and revenue beating consensusSamsaraand raised its guidance for FY27INDEXES:Near midday, the Dow was down 0.54%, or 277.66, to 51,284.27, the Nasdaq was down 2.33%, or 624.54, to 26,206.41, and the S&P 500 was down 1.36%, or 103.28, to 7,481.03.

ServiceTitan is up 8.4%, or $6.27 to $80.60.

Stock futures are mixed this morning, with the weakness concentrated in semiconductor and AI-related stocks following yesterday's sharp selloff in Broadcom, which raised concerns that expectations for the AI trade may have become too aggressive.The U.S. economy added 172,000 jobs in May, well above forecasts of 85,000, and the stronger-than-expected jobs report appears to be reinforcing the "higher-for-longer" interest-rate narrative.Reports indicate that efforts to ease tensions involving Iran have stalled, while uncertainty remains around shipping activity through the Strait of Hormuz. Oil prices have pulled back from their recent peaks, but are still on track for a weekly gain.In pre-market trading, S&P 500 futures fell 0.52%, Nasdaq futures fell 1.17% and Dow futures rose 0.18%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Chipotleup 2% after JPMorgan upgraded the stock to Overweight with a price target of $35 after meeting with managementUP AFTER EARNINGS -Concrete Pumpingup 29%ServiceTitanup 13%G-III Apparelup 6%ABMup 1%Cooper Companiesup 1%DOWN AFTER EARNINGS -Guidewiredown 12%Lululemondown 11%DocuSigndown 4%Samsaradown 3%