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Wire

GameStop Seeks Shareholder Approval to Increase Authorized Shares to 2.5 Billion

GameStop (GME) is asking shareholders to approve during the July annual meeting an amendment to its charter that would increase the number of authorized class A common shares to 2.5 billion from 1 billion currently, according to a securities filing Friday.Total authorized shares across all classes would rise to 2.505 billion, including 5 million preferred shares, the company said in the filing with the US Securities and Exchange Commission.The company said it last increased its authorized shares in 2022 to support a stock split. If approved at the annual meeting set for July 7, the change would take effect after filing with Delaware authorities, GameStop said.As of Wednesday, GameStop had nearly 448.7 million shares outstanding and about 269 million shares available for future issuance, according to the filing.Additionally, the company is asking shareholders to approve the performance-based stock option award granted by the board in January to Chief Executive Ryan Cohen.Shares of GameStop were down 1.9% in Friday trading.Price: $22.08, Change: $-0.41, Percent Change: -1.85%

$GME
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.3%.In corporate news, GameStop (GME) increased its stake in eBay (EBAY) to about 6.6%, according to a Schedule 13D filed with the Securities and Exchange Commission. GameStop shares rose 2.6%, and eBay gained 3.9%.TJX (TJX) raised its full-year outlook Wednesday after posting stronger-than-expected fiscal Q1 results, with comparable sales rising across all segments. Its shares popped 5.6%.Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.9%.Hasbro (HAS) shares dropped past 9%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.

$EBAY$GME$HAS$LOW$TJX
Sectors

Sector Update: Consumer

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.3%.In corporate news, GameStop (GME) increased its stake in eBay (EBAY) to about 6.6%, according to a Schedule 13D filed with the Securities and Exchange Commission. GameStop shares rose 2.5%, and eBay gained 3.9%.

$EBAY$GME
Wire

GameStop Increases Stake in eBay to About 6.6%

GameStop (GME) increased its stake in eBay (EBAY) to about 6.6%, according to a Schedule 13D filed with the Securities and Exchange Commission."Together, the 25,000 shares of Common Stock beneficially owned directly and the shares of Common Stock underlying Put/Call Pairs constitute approximately 6.55% of the outstanding shares of Common Stock, based on the 444 million shares of Common Stock stated by the Issuer as being outstanding as of April 24, 2026, in the Issuer's 2026 Q1 10-Q," GameStop said in the Tuesday filing.Earlier in May, eBay's board of directors rejected an unsolicited, non-binding buyout offer from GameStop.eBay didn't immediately reply to a request for comment from.Price: $22.72, Change: $+0.61, Percent Change: +2.78%

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Wire

GameStop Increases Stake in eBay to About 6.6% From Around 5%, Reuters Reports

GameStop Increases Stake in eBay to About 6.6% From Around 5%, Reuters Reports

$EBAY$GME
Nasdaq, S&P 500 Retreat From Record Highs Amid Losses in Tech Sector
US Markets

Nasdaq, S&P 500 Retreat From Record Highs Amid Losses in Tech Sector

The Nasdaq Composite and the S&P 500 fell Tuesday as technology shares slid, with traders apparently spooked by a hotter-than-anticipated inflation report and higher oil prices.The Nasdaq shed 0.7% to 26,088.2, while the S&P 500 lost 0.2% to 7,401, following their back-to-back record closing highs. The Dow Jones Industrial Average added 0.1% to 49,760.6, rising for a third consecutive session. Most sectors ended in the green, led by healthcare, while consumer discretionary saw the steepest decline.Shares of several big tech names tumbled with Qualcomm (QCOM) sliding nearly 12%, the worst performer on the S&P 500. Intel (INTC) followed Qualcomm on the index, down 6.8%. Salesforce (CRM) dropped 3.5%, the steepest decline on the Dow, followed by IBM (IBM), which fell 1.9%.Micron Technology (MU), Oracle (ORCL), Advanced Micro Devices (AMD), Dell Technologies (DELL), Microsoft (MSFT) and Amazon.com (AMZN) also logged declines.In economic news, US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz. Core inflation, which excludes the volatile food and energy components, hit a seven-month high, official data showed."The unfavorable and larger-than-expected jump in core prices shows pressures are now spreading beyond energy, transportation, and food, into larger categories such as services and housing," Scott Anderson, chief US economist at BMO, said in a report. "If the energy price shock doesn't subside soon, we can expect more of the same in the months ahead."Energy prices surged nearly 18% annually last month, marking the biggest jump since September 2022, official data showed."The closure of the Strait of Hormuz is doing significant damage to the (Federal Reserve's) ability to hold the line on inflation," Anderson said. "At a minimum, this inflation report will keep the Fed on hold longer and may facilitate a move toward a more neutral policy stance at upcoming meetings -- removing the (Federal Open Market Committee's) implicit rate cut bias."The Fed, which late last month kept its policy rate steady for a third consecutive meeting, is widely expected to stay put again next month, according to the CME FedWatch tool. Its latest policy statement include an easing bias, which was opposed by three regional presidents.Chicago Fed President Austan Goolsbee said inflation data on the services side was "unexpectedly disappointing," Reuters reported.Inflation is "going the wrong way, and it's going the wrong way not just in oil-related things and not just in tariff-related things," Goolsbee was quoted as saying at an event in Rockford, Illinois.US Treasury yields were higher, with the 10-year rate up five basis points at 4.46% and the two-year rate rising 3.2 basis points to 4%.West Texas Intermediate crude was last up 4.4% at $102.39 per barrel, while Brent rose 3.5% to $107.86.US President Donald Trump recently rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the crucial Strait of Hormuz.Trump is now more seriously considering restarting military operations against Iran than he has in recent weeks, CNN reported, citing his aides. Trump, who will fly to Beijing this week, reportedly said he will have a "long talk" about the Iran war with Chinese leader Xi Jinping, though he downplayed the idea he would want China to play a role in ending the conflict."The global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz," Saxo Bank said in a report.In company news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. EBAY shares rose 2.1%, while GameStop fell 3.5%.Gold was last down 0.2% at $4,721.20 per troy ounce, while silver gained 1.6% to $87.30 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CRM$DELL$EBAY$GME$IBM$INTC$MSFT$MU$ORCL$QCOM
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

$EBAY$GME$SE$UAA$WEN
Equities Fall Intraday Amid Tech Sell-Off
US Markets

Equities Fall Intraday Amid Tech Sell-Off

US benchmark equity indexes were mostly lower intraday, weighed down by a technology sell-off, as investors assessed the latest consumer inflation report.The Nasdaq Composite was down 1.5% at 25,886.7 after midday Tuesday, while the S&P 500 fell 0.6% to 7,368.1. Both indexes hit new peaks in the previous session. The Dow Jones Industrial Average was little changed at 49,708.5.Among sectors, tech saw the steepest decline, shedding 2%, while healthcare paced the gainers.Shares of several big tech names were down intraday Tuesday, with Qualcomm (QCOM) sliding 13%, the worst performer on the S&P 500. Intel (INTC) followed Qualcomm on the index, down 9.3%. Salesforce (CRM) declined 2.9%, the steepest decline on the Dow.Oracle (ORCL), Advanced Micro Devices (AMD) and Dell Technologies (DELL) fell about 5% each. Amazon.com (AMZN) and IBM (IBM) also logged declines, with Microsoft (MSFT) and Nvidia (NVDA) marginally lower.In economic news, US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz. Core inflation, which excludes the volatile food and energy components, accelerated to the fastest since September, official data showed."A hotter-than-expected CPI report underscores the ongoing impact of higher energy prices seeping further into the economy with the core jumping to a seven-month high," Stifel Chief Economist Lindsey Piegza said in a note emailed to.Energy prices surged nearly 18% annually last month, marking the biggest jump since September 2022, official data showed."This morning's numbers reinforce why the (Federal Reserve) needs to remain patient," Thomas Feltmate, senior economist at TD Economics, said in a report. "With secondary price effects from higher energy prices likely to intensify in the months ahead, we're likely to see core measures of inflation drift a bit higher and hover around 3% through year-end."The Fed, which late last month kept its policy rate steady for a third consecutive meeting, is widely expected to stay put again next month, according to the CME FedWatch tool.US Treasury yields were higher intraday Tuesday, with the 10-year rate up 4.9 basis points at 4.46% and the two-year rate rising 4.4 basis points to 4.01%.West Texas Intermediate crude was up 3.7% at $101.67 per barrel intraday Tuesday, while Brent rose 3.3% to $107.66.US President Donald Trump recently rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the crucial Strait of Hormuz.Trump is now more seriously considering restarting military operations against Iran than he has in recent weeks, CNN reported, citing his aides."The global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz." Saxo Bank said in a report.In company news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. EBAY shares were up 0.8% intraday, while GameStop fell 0.7%.Gold was down 0.9% at $4,688.10 per troy ounce, while silver lost 0.4% to $85.60 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CRM$DELL$EBAY$GME$IBM$INTC$MSFT$NVDA$ORCL$QCOM
Sectors

Sector Update: Consumer Stocks Mixed Tuesday Afternoon

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.In sector news, Redbook US same-store sales rose by 9.6% from a year earlier in the week ended May 9 after a 7.8% year-over-year increase in the previous week. Redbook noted higher sales of seasonal products including clothing, footwear and outdoor goods due to rising temperature and graduation sales.In corporate news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares were down 0.7%, and EBay rose 1.1%.Wendy's (WEN) shares jumped 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) on Tuesday reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. Its shares climbed 13%.

$EBAY$GME$SE$WEN
Asia Markets

US Equity Indexes Fall Amid Hot Inflation Print, Deadlocked Iran Peace Efforts

US equity indexes dropped in Tuesday's midday trading as a hotter-than-anticipated inflation print amid soaring gas prices hit growth sectors, while a stalemate continued in Iran peace talks.The Nasdaq slumped 2% to 25,753.1, with the S&P 500 down 1% to 7,340.4 and the Dow Jones Industrial Average lower by 0.2% to 49,604.2.The US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.Gasoline prices rose a further 5.4% in April following a gain of more than 21% in March because of the ongoing closure of the Strait of Hormuz, the choke point for about a fifth of global crude oil flows, according to a Jefferies note.Federal Reserve Bank of Chicago President Austan Goolsbee said inflation readings show pervasive price pressures in the US economy and may even indicate overheating, Bloomberg cited NPR."If you look at the components that are not energy, like services, if that is an indication that the underlying economy is overheating then the Fed has got to be thinking about how do we break the chain of escalating inflation," Goolsbee was cited as saying Tuesday.The probability of a 25 basis-point increase in interest rates to 3.75% to 4% jumped for each of the last three meetings of this year out of the remaining five, according to data compiled by the CME FedWatch tool. The likelihood of an increase in September is in high single digits, over a fifth in October, and almost a third in December.US Treasury yields jumped, with the 10-year up 4.7 basis points to 4.46%, the highest since about July. The two-year rate jumped 5.1 basis points to almost 4%, the strongest since June.In post-midday trading, technology and consumer discretionary sectors led the decliners in a broadly negative tape. Healthcare and consumer staples were among the gainers.Meanwhile, oil prices jumped as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed, continuing the largest-ever energy supply shock.West Texas Intermediate crude oil futures surged 3.9% to $101.88, and Brent crude futures increased 3.4% to $107.70."Oil prices climbed ... as the global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz," Saxo Bank wrote in a note. "The move followed Trump casting doubt over a ceasefire with Israel signalling the war is not over."In precious metals, gold futures slid 1.1% to $4,675.3, and silver futures declined 1.2% to $84.92 amid concerns that higher crude oil prices will boost inflationary pressures.In company news, eBay (EBAY) rejected GameStop's (GME) proposal to acquire the e-commerce company for about $55.5 billion.

Dow JonesNasdaq CompositeS&P 500$EBAY$GME
Sectors

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.In corporate news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 1.4%, and EBay increased 0.6%.

$EBAY$GME
Wire

Top Midday Stories: April CPI Rises 3.8% YoY, Highest Level Since May 2023; EBay Board Rejects GameStop's Acquisition Proposal

All three major US stock indexes were down in late-morning trading after April inflation data came in hotter than expected.The US seasonally adjusted consumer price index rose by 0.6% in April, as expected and following a 0.9% increase in March, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate of a 0.3% increase. Core CPI rose by 0.2% in March. Year over year rates for overall and core CPI rose to 3.8% and 2.8%, respectively from 3.3% and 2.6% in March. The overall year-over-year figure was the highest recorded since May 2023.In company news, eBay (EBAY) said Tuesday its board rejected GameStop's (GME) unsolicited, non-binding $55.5 billion buyout offer. The board concluded the company is better positioned to generate growth and shareholder value as a standalone business under its existing management, eBay said. Shares of eBay were up 0.2%, while GameStop shares were down 1.9% around midday.On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.37 Swiss francs ($0.47) per diluted share, up from 0.21 francs a year earlier and above the FactSet consensus analyst estimate of 0.27 francs. Net sales were 831.9 million francs, up from 726.6 million francs a year ago and above the FactSet consensus of 818.5 million francs. For full-year 2026, the company said it expects net sales to grow by at least 23% year over year on a constant-currency basis, implying reported sales of at least 3.51 billion francs at current spot rates, it said. On Holding shares were down 4.6%.Under Armour (UAA) reported a fiscal Q4 adjusted loss Tuesday of $0.03 per diluted share, narrowing from a loss of $0.08 a year earlier but below the FactSet consensus of a loss of $0.02. Fiscal Q4 net revenue was $1.17 billion, down from $1.18 billion a year ago but matching the FactSet consensus. For fiscal 2027, the company said it expects adjusted EPS of $0.08 to $0.12 on a slight decline in revenue. Analysts polled by FactSet expect adjusted EPS of $0.23 on revenue of $5.05 billion. Under Armour shares were down 17%.Wendy's (WEN) faces a potential take-private bid from Trian Fund Management, which is seeking investor backing for a takeover, the Financial Times reported Tuesday, citing people familiar with the matter. Wendy's shares were up 15%.Alphabet's (GOOG, GOOGL) Waymo is recalling 3,791 robotaxis in the US due to a software issue that could likely cause the vehicles to drive onto flooded roads, Reuters reported Tuesday, citing the National Highway Traffic Safety Administration. The recall pertains to certain fifth- and sixth-generation automated driving systems in the robotaxis, the report said. Alphabet's Class C and Class A shares were down 0.5% and 0.4%, respectively.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 0.5%.Price: $108.27, Change: $+0.14, Percent Change: +0.13%

$EBAY$GME$GOOG$GOOGL$JPM$ONON$UAA$WEN
EBay Turns Down GameStop's $55.5 Billion Takeover Bid
US Markets

EBay Turns Down GameStop's $55.5 Billion Takeover Bid

EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal.The takeover proposal is "neither credible nor attractive," eBay Chairman Paul Pressler said in a letter to GameStop Chief Executive Ryan Cohen. That letter was contained in a company press release dated Tuesday."The board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it," Pressler said.GameStop did not respond to' request for comment.In making the decision, eBay considered factors including operational risks of a combined company and uncertainty regarding GameStop's financing proposal, according to the letter."EBay's board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders," Pressler added.GameStop, which holds a 5% stake in eBay, offered to purchase the company for $125 a share last week. The offer was structured as an equal mix of cash and stock.A potential merger would cut $2 billion from eBay's annual costs within a year, Cohen said in a letter sent to Pressler at the time.Last month, eBay reported first-quarter adjusted earnings of $1.66 per share on revenue of $3.09 billion, compared with $1.37 and $2.59 billion a year earlier. The company expected second-quarter adjusted EPS between $1.46 and $1.51, with revenue ranging from $2.97 billion to $3.03 billion.Price: $107.80, Change: $-0.33, Percent Change: -0.31%

$EBAY$GME
Commodities

Exchange-Traded Funds, Equity Futures Fall Pre-Bell Tuesday Amid Consumer Inflation Report Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 1% lower in Tuesday's premarket activity amid the consumer price date report for April.US stock futures were also lower, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures falling 0.9% before the start of regular trading.The NFIB Small Business Optimism Index edged up to 95.9 in April from 95.8 in March, while expectations for business conditions weakened, according to National Federation of Independent Business data on Tuesday.The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.6% in April, as expected and following a 0.9% increase in March, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.In premarket activity, bitcoin was down by 1.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% lower, Ether ETF (EETH) retreated 2.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost by 1.5%.Power Play:EnergyThe iShares US Energy ETF (IYE) was up 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) gained by 1.2%.Venture Global (VG) stock was up more than 11% before the opening bell after the company reported higher Q1 earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.4%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) gained 0.04%.Hub Group (HUBG) stock was down more than 5% before the opening bell after the company said it filed a Form 12b-25 with the US Securities and Exchange Commission to delay its Q1 2026 Form 10-Q filing as it continues work on previously disclosed financial restatements.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) decreased by 0.5%.GameStop's (GME) shares were down more than 4% pre-bell after eBay (EBAY) said its board has rejected an unsolicited, non-binding buyout offer from GameStop.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.Figure Technology Solutions (FIGR) shares were up more than 4% pre-bell after the company swung to a Q1 net income and higher revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.2%, and the iShares US Technology ETF (IYW) was 1.5% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 1.1%, while the iShares Semiconductor ETF (SOXX) lost 2.2%.Qnity Electronics (Q) shares were up more than 3% in premarket activity after the company reported higher Q1 adjusted earnings and net sales.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) gained by 0.5%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was flat.Novo Nordisk (NVO) stock was up more than 2% premarket after the company said the higher dose of Wegovy helped people with obesity lose "significant amounts" of weight irrespective of how quickly their body responds to the treatment, based on a new sub-analysis from a clinical trial.CommoditiesFront-month US West Texas Intermediate crude oil rose 3.6% to $101.55 per barrel on the New York Mercantile Exchange. Natural gas was down 0.4% at $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced 3.3%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Gold futures for May declined by 0.4% to $4,709.30 an ounce on the Comex. Silver futures fell 1.8% to $84.37 an ounce. SPDR Gold Shares (GLD) was 0.7% lower, and the iShares Silver Trust (SLV) fell by 2.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EBAY$EEM$EETH$EXI$FAS$FAZ$FIGR$GLD$GME$HUBG$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$Q$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VG$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Wire

Market Chatter: EBay's Board to Meet This Week to Discuss GameStop Bid

EBay's (EBAY) board is meeting this week to review the unsolicited $55.5 billion acquisition offer from GameStop (GME) Chief Executive Ryan Cohen, Semafor reported Tuesday, citing sources familiar with the matter.Cohen failed to convince serious shareholders to back his move during an interview on CNBC on Monday, according to the report.EBay and GameStop did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $105.62, Change: $-3.71, Percent Change: -3.39%

$EBAY$GME
Asia Markets

US Equity Indexes Fall, Crude Oil Futures Advance as Iran Ceasefire at Risk of Falling Apart

US equity indexes fell while crude oil futures jumped amid reports of strikes in the Strait of Hormuz and the United Arab Emirates on Monday, fueling concern that the Iran ceasefire could fall apart.The Dow Jones Industrial Average dropped 1.1% to 48,941.90, with the S&P 500 down 0.4% to 7,200.75 and the Nasdaq Composite lower by 0.2% to 25,067.80 at the close. All sectors except energy retreated, with materials and industrials leading the decliners.The US and Iran exchanged fire in the Persian Gulf in a flareup of violence on Monday that also drew in the UAE, prompting calls for renewed strikes on Iranian targets, Bloomberg reported. The US military fought off attacks from Iranian drones, missiles, and armed small boats as it facilitated the passage of two US-flagged vessels through the Hormuz, US Central Command chief Admiral Brad Cooper was cited as telling reporters in a briefing on Monday.President Donald Trump warned Iran will be "blown off the face of the earth" if it targets US ships that are protecting commercial vessels transiting the crucial waterway, CNBC cited Trump's interview on Fox News.US envoy to the United Nations Mike Waltz told reporters Monday that the US will co-draft a Security Council resolution with Bahrain and its Gulf allies that would "hold Iran to account" for its months-long chokehold over crude oil transit in Hormuz, according to a report from Associated Press.West Texas Intermediate crude oil futures jumped 2.9% to $104.89, and Brent crude futures surged 5% to $113.60.Most US Treasury yields rose, with the 10-year up 5.4 basis points to 4.43%, the highest in more than a month on an intraday basis. Two-year yield jumped six basis points to 3.95%.In precious metals, gold futures dropped 2.6% to $4,525.1, and silver futures slumped 4.3% to $73.13.In economic news, new orders for US factory goods rose by 1.5% in March, above expectations for a 0.6% gain in a Bloomberg-compiled survey, following a revised 0.3% increase in February. Excluding a 0.8% rebound in transportation orders, new orders would have been up 1.6%, above a 1.3% gain expected and the same as in February.In company news, Video game retailer GameStop (GME) proposed acquiring eBay (EBAY) in a cash-and-stock deal valued at about $55.5 billion. Shares of eBay jumped 5.1%, among the top gainers on the S&P 500.Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook amid higher fuel costs and weak consumer demand due to the war in the Middle East. The cruise operator's first-quarter revenue also fell short of market expectations. Its shares slumped 8.6%, among the steepest decliners in the S&P 500.United Parcel Service (UPS) maintained its 2026 sales outlook while flagging a potential demand impact from the Middle East conflict. Shares of the package delivery giant sank 10%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$EBAY$GME$NCLH$UPSE
US Markets

S&P 500, Nasdaq Retreat From Record, Oil Jumps Amid Renewed US-Iran Tensions

The S&P 500 and the Nasdaq retreated from record highs as oil prices jumped amid signs that the Middle East conflict could intensify again.The S&P 500 lost 0.4% to close at 7,200.8, while the Nasdaq fell 0.2% to 25,067.8. The Dow Jones Industrial Average ended 1.1% lower at 48,941.9. Barring energy, all sectors were in the red, led by materials.Brent crude jumped 5.3% to $113.87 per barrel, while West Texas Intermediate crude rose 3.1% to $105.12.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command.A senior Iranian military official disputed that claim, Fox News reported, citing Iranian media. US President Donald Trump told news agency that Iran will be "blown off the face of the Earth" if they attack US vessels that support Trump's initiative to escort commercial ships through the Strait of HormuzTehran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X earlier in the day.Two US-flagged vessels passed through the strait, the Central Command said Monday, denying claims from Iran that a US ship had been hit. Iran's Islamic Revolutionary Guard Corps said no commercial vessels or oil tankers had transited the narrow waterway, CNN reported.Meanwhile, the Israeli military reportedly issued an evacuation order for 10 villages in southern Lebanon.The broader conflict paused following two separate ceasefires; one between Washington and Tehran and the other involving Israel and Lebanon. However, a framework for a permanent truce is yet to be reached.The cumulative supply disruption due to the conflict has now reached an estimated 600 million barrels by early May, Wells Fargo Investment Institute said in a note."Absent a reopening of the strait within the next several weeks, the global oil market, in our view, is likely to enter a period of explicit demand rationing within the current quarter," Wells Fargo Investment Institute Chief Investment Officer Darrell Cronk said. "Rationing on the order of four million to five million barrels per day would be required within weeks to rebalance the system, with a typical 30-day lag before flow disruptions fully translate into end-market shortages."US Treasury yields were higher, with the 10-year rate up 6.3 basis points at 4.44% and the two-year rate rising 6.6 basis points to 3.96%."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a report. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."On the monetary policy front, New York Fed President John Williams said Monday that the Middle East conflict could keep inflation elevated for some time.Switching to quarterly results, S&P 500 companies' earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER), Shopify (SHOP), Pfizer (PFE) and McDonald's (MCD) are among major companies that are scheduled to release quarterly financials this week.Traders will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively."Focus shifts from Big Tech to consumer-facing earnings and macro validation," Saxo Bank said in a report. "US earnings from Disney, Airbnb (ABNB), and McDonald's will test demand resilience, while the US jobs report will determine whether strong growth can sustain current equity levels."In company-specific news, Tyson Foods' (TSN) shares jumped 8%, the best performer on the S&P 500. The meat producer's fiscal second-quarter results surpassed Wall Street's expectations, lifted by price and volume gains in the chicken and prepared foods segments.Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while the cruise operator's first-quarter revenue fell short of market estimates. The stock fell 8.6%, among the worst performers on the S&P 500.EBay (EBAY) shares advanced 5.1%, among the best performers on the S&P 500, after video game retailer GameStop (GME) proposed to acquire the e-commerce company in a cash-and-stock deal worth about $55.5 billion. Shares of GME slumped 10%.Gold fell 2.6% to $4,524.40 per troy ounce, while silver declined 4% to $73.42 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$AMD$DIS$EBAY$GME$MCD$NCLH$PFE$SHOP$UBER
International

US Equity Markets End Lower Amid Growing Tensions in Middle East, Rising Crude Oil Prices

US equity indexes ended lower on Monday after an escalation in the Middle East, with strikes on ships in the Strait of Hormuz, sending crude oil prices higher.* The US military "blew up" six Iranian boats in Hormuz on Monday after Tehran launched "multiple cruise missiles, drones and small boats" at American Navy ships and commercial vessels, CNN reported, citing the US Central Command.* New orders for US factory goods rose by 1.5% in March, above expectations for a 0.6% gain in a Bloomberg-compiled survey, following a revised 0.3% increase in February* June West Texas Intermediate crude oil rose $3.32 to settle at $105.26 per barrel, while July Brent crude, the global benchmark, was last seen up $5.85 at $114.02.* GameStop (GME) has proposed to acquire eBay (EBAY) in a cash-and-stock deal worth about $55.5 billion. eBay shares were up about 5%, among the top gainers on the S&P 500, while GameStop fell more than 10%.* Norwegian Cruise Line (NCLH) shares were down nearly 9%, the biggest decliner on the S&P 500, after the company lowered its full-year earnings outlook amid higher fuel costs and weak consumer demand due to the war in the Middle East, and its Q1 revenue fell short of market expectations.

Dow JonesNasdaq CompositeS&P 500$EBAY$GME$NCLH
US Markets

Equities Fall Intraday, Oil Prices Climb as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday and oil prices jumped as fighting in the Iran war flared up again.The Dow Jones Industrial Average was down 1% at 49,011.4 after midday Monday, while the S&P 500 lost 0.5% to 7,196.7. The Nasdaq Composite fell 0.3% to 25,038.8. The Nasdaq and the S&P 500 reached new peaks in the previous session.Barring energy, all sectors were in the red, led by materials.Brent crude jumped 6.1% to $114.79 per barrel, while West Texas Intermediate crude rose 4% to $106.13.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command.Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defence Ministry said in a post on X earlier in the day.US President Donald Trump's initiative to escort commercial ships through the Strait of Hormuz began on Monday. Two US-flagged vessels passed through the strait, the Central Command said Monday, after denying claims from Iran that a US ship had been hit.Iran's Islamic Revolutionary Guard Corps said no commercial vessels or oil tankers had transited the narrow waterway, CNN reported.Meanwhile, the Israeli military reportedly issued an evacuation order for 10 villages in southern Lebanon."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a report. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."S&P 500 companies' quarterly earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.In company news, Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while the cruise operator's first-quarter revenue fell short of market estimates. The stock was down 8.9% intraday, the second-worst performer on the S&P 500.EBay (EBAY) shares were up 5.6%, among the best performers on the S&P 500, after video game retailer GameStop (GME) proposed to acquire the e-commerce company in a cash-and-stock deal worth about $55.5 billion. Shares of GME slumped 7.7%.Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER), Shopify (SHOP), Pfizer (PFE) and McDonald's (MCD) are among major companies that are scheduled to release quarterly financials this week.Traders will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively."Focus shifts from Big Tech to consumer-facing earnings and macro validation," Saxo Bank said in a report. "US earnings from Disney, Airbnb (ABNB), and McDonald's will test demand resilience, while the US jobs report will determine whether strong growth can sustain current equity levels."US Treasury yields were higher intraday, with the 10-year rate up seven basis points at 4.45% and the two-year rate rising 8.5 basis points to 3.98%.Gold fell 2.2% to $4,540.50 per troy ounce, while silver declined 3.7% to $73.62 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$AMD$DIS$EBAY$GME$MCD$NCLH$PFE$PLTR$SHOP$UBER
Asia Markets

US Equity Indexes Fall as Strikes on United Arab Emirates, Ships in Hormuz Send Crude Oil Prices Soaring

US equity indexes fell in midday trading on Monday amid reports that fighting escalated in the Middle East, with strikes on ships in the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows, and the United Arab Emirates.The Nasdaq Composite fell 0.4% to 25,028.2, the S&P 500 slid 0.5% to 7,197.5, and the Dow Jones Industrial Average declined 1% to 49,028.8. All sectors except energy retreated, with materials leading the decliners.The US military "blew up" six Iranian boats in Hormuz on Monday after Tehran launched "multiple cruise missiles, drones and small boats" at American Navy ships and commercial vessels, CNN reported, citing the US Central Command. This came about as the US launched an effort to help vessels transit the crucial waterway, The Wall Street Journal reported, citing Adm. Brad Cooper, head of US Central Command.The UAE, which has backed tougher action against Iran, sounded alerts for the first time since early April, saying four missiles and several drones targeted the country, the WSJ reported. It confirmed that a drone strike sparked a fire at an oil hub in Fujairah.West Texas Intermediate crude oil futures jumped 4.2% to $106.18, and Brent crude futures surged 6.2% to $114.87.Most US Treasury yields rose, with the 10-year soaring 7.6 basis points to 4.45%, the highest in more than a month on an intraday basis. Two-year yield catapulted 8.7 basis points to 3.98%.In precious metals, gold futures dropped 2.5% to $4,523.6, and silver futures slumped 3.9% to $73.45.In economic news, new orders for US factory goods rose by 1.5% in March, above expectations for a 0.6% gain in a Bloomberg-compiled survey, following a revised 0.3% increase in February. Excluding a 0.8% rebound in transportation orders, new orders would have been up 1.6%, above a 1.3% gain expected and the same as in February.In company news, video game retailer GameStop (GME) proposed acquiring eBay (EBAY) in a cash-and-stock deal valued at about $55.5 billion. Shares of eBay jumped 4.7%, among the top gainers on the S&P 500.Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook amid higher fuel costs and weak consumer demand due to the war in the Middle East. The cruise operator's Q1 revenue also fell short of market expectations. Its shares slumped 8%, among the steepest decliners in the S&P 500.United Parcel Service (UPS) maintained its 2026 sales outlook while flagging a potential demand impact from the Middle East conflict. Shares of the package delivery giant sank 9.5%, the worst performer on the S&P 500.

Dow JonesNasdaq CompositeS&P 500$EBAY$GME$NCLH$UPS

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