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Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says
US Markets

Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says

Take-Two Interactive Software's (TTWO) "Grand Theft Auto VI" pre-order tracking suggests "robust" demand for the highly anticipated video game ahead of its commercial launch in November, B. Riley Securities said Friday.Two-week tracking of digital storefronts and retail websites showed GTA VI was the top-selling item across all monitored platforms last month, when pre-orders started, and among the top-ranked items in early July, according to the brokerage. The tracking covered Sony's (SONY) PlayStation Store, Microsoft's (MSFT) Xbox Live, Amazon.com (AMZN), Walmart (WMT), Best Buy (BBY), and GameStop (GME)."While this analysis was qualitative in nature, we believe findings suggest robust demand for the game," B. Riley Managing Director Drew Crum said in a note to clients. The analysis supports the brokerage's "positive fundamental outlook" for Take-Two's shares, according to Crum.B. Riley maintained its buy rating on the video game publisher's stock with a $300 price target.The company's shares were down 1% in Friday afternoon trade, bringing its year-to-date losses to 4.8%.The Ultimate Edition of the game, which is priced at $99.99, was the most popular version on PlayStation Store and Xbox Live, according to B. Riley."Pre-orders were heavily weighted to PS5 (stock keeping units), which is not surprising given Sony's console system has outsold Xbox Series X/S by more than 3-to-1 (by our estimation) during the current hardware cycle," Crum said. "We forecast GTA VI full game net bookings at $2.5 billion (37M units x $68 ASP), which spans (over four) months."Take-Two could provide updates on pre-order performance for the game with its latest quarterly financial results next month, potentially providing a lift for the company's stock, Crum said.B. Riley expects net bookings of $1.35 billion for the quarter, which it said is below Wall Street's estimate of $1.40 billion. The brokerage's non-GAAP earnings forecast of $0.34 a share exceeds consensus of $0.33, according to the note.Price: $243.89, Change: $-2.21, Percent Change: -0.90%

$AMZN$BBY$GME$MSFT$SONY$TTWO$WMT
Take-Two Interactive's 'GTA VI' Pricing Suggests Incremental Upside to Financials, B. Riley Says
US Markets

Take-Two Interactive's 'GTA VI' Pricing Suggests Incremental Upside to Financials, B. Riley Says

Take-Two Interactive Software's (TTWO) financials are poised to get a boost from the higher-than-expected pricing of the "Grand Theft Auto VI" video game, B. Riley Securities said in a note e-mailed Thursday.In a Wednesday update, the video game publisher's Rockstar Games said pre-orders for the highly anticipated title would begin Thursday, with the base edition introduced at $79.99. The game will be available on Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox platforms.B. Riley said the game's price is $10 higher than originally modeled and the industry standard for a new triple A game on current-generation console systems."We view this update favorably given it insinuates confidence in the quality of the game (and) suggests incremental upside to financials -- keeping unit volume unchanged implies an incremental ($300 million-plus) to net bookings in our model," B. Riley analyst Drew Crum said in a note to clients.The brokerage now projects Take-Two's non-GAAP earnings at $8 per share for 2027 and $9.75 for 2028, compared with its prior outlooks of $7.52 and $9.36, respectively. B. Riley's unit estimates for GTA VI are unchanged at 37 million and 28.9 million for 2027 and 2028, respectively, according to the note.The latest update from Rockstar also offers another data point that confirms the game's Nov. 19 launch date remains intact, Crum said.GTA VI was originally slated to come out in 2025, but was delayed first to May 26 this year and then to Nov. 19.B. Riley sees Rockstar's update favorably for Turtle Beach (TBCH) and the video game industry. It is neutral in terms of impact to Corsair Gaming (CRSR) and Roblox (RBLX), and "potentially negative for other parts of our universe as the game consumes mindshare and limited entertainment time," Crum wrote.Price: $233.81, Change: $-1.91, Percent Change: -0.81%

$CRSR$MSFT$RBLX$SONY$TBCH$TTWO
Wire

Take-Two Grand Theft Auto VI Delay Risk Largely Removed, Wedbush Says

Take-Two Interactive Software (TTWO) has largely removed uncertainty surrounding the launch of Grand Theft Auto VI after confirming pricing, pre-orders and a Nov. 19 release date, strengthening visibility into the company's earnings outlook, Wedbush said in a Thursday note.The firm said the announcement of an $80 standard edition, a $100 ultimate edition, pre-orders and the release date provides the confirmation investors had been seeking and substantially reduces concerns about another delay.Wedbush said the pricing structure could support higher average selling prices, while the premium edition and digital distribution mix may benefit margins.The firm also said the decision to launch the game initially as a single-player title should allow online revenue opportunities to build over subsequent years through Grand Theft Auto Online and subscription offerings.Wedbush maintained its outperform rating on Take-Two Interactive Software and a $300 price target.Price: $237.33, Change: $+1.60, Percent Change: +0.68%

$TTWO
Sectors

Sector Update: Consumer Stocks Advance Pre-Bell Wednesday

Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) marginally advancing and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.2%.Wendy's (WEN) named Steve Cirulis as chief financial officer, effective Tuesday, succeeding Ken Cook. Shares of Wendy's were up more than 30% premarket.Take-Two Interactive Software's (TTWO) Rockstar Games will open pre-orders for "Grand Theft Auto VI" on Thursday at midnight local time, the video game publisher said. Take-Two Interactive Software stock was up nearly 3% pre-bell.Nike (NKE) said David Denton will join as its chief financial officer and executive vice president on Aug. 17, replacing Matthew Friend, who will step down at that time and remain through Sept. 4 to support the transition. Nike shares were 0.8% lower premarket.

$NKE$TTWO$WEN$XLP$XLY
Wire

BofA Securities Lifts Price Target on Take-Two Interactive Software to $368 From $320, Maintains Buy Rating

Take-Two Interactive Software (TTWO) has an average rating of buy and mean price target of $283.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $244.07, Change: $+4.50, Percent Change: +1.88%

$TTWO
Equities

Social Buzz: Wallstreetbets Stocks Mixed Pre-Bell Monday; Sandisk to Advance, Space Exploration Technologies to Decline

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mixed hours before Monday's opening bell.Sandisk (SNDK) was up 3.9% pre-bell, following an 11.5% rise at Thursday's close.Intel (INTC) was 3.8% higher premarket, after a 10.6% increase from Thursday's session.Micron Technology (MU) rose by 3.6% in premarket activity, after an 8.7% increase from the previous session.Take-Two Interactive Software (TTWO) advanced by 3.1% in pre-bell hours, after closing Thursday with a 4.9% increase. Take-Two Interactive's Rockstar Games said pre-orders for its Grand Theft Auto VI video game will start on June 25 for both digital and physical retail locations.DTE Energy (DTE) was up 0.5% premarket, after a 0.3% increase from the previous session.Space Exploration Technologies (SPCX) fell by 4.7% hours before market open, following a 3.6% decline from Thursday's session.Nvidia (NVDA) declined by 0.5% pre-bell, after an increase of nearly 3% from the previous session.Microsoft (MSFT) was 0.1% lower premarket, swinging from a 0.1% increase at Thursday's close.

$DTE$INTC$MSFT$MU$NVDA$SNDK$SPCX$TTWO
Take-Two's Rockstar Says 'GTA VI' Pre-Orders to Start June 25; Shares Rise
US Markets

Take-Two's Rockstar Says 'GTA VI' Pre-Orders to Start June 25; Shares Rise

Take-Two Interactive Software's (TTWO) Rockstar Games said "Grand Theft Auto VI" pre-orders will open next week, sending the video game publisher's stock higher Thursday.Advance purchases for the highly anticipated video game will begin June 25 on digital platforms and at certain retailers. Customers can place the title on their wish lists through Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox storefronts, Rockstar said.Take-Two shares were up 6% in afternoon trade. So far this year, the stock has lost 5.6% in value.Last month, Take-Two said the latest game of the iconic series was on track to be released on its scheduled Nov. 19 date. The game was originally slated to come out in 2025, but was delayed first to May 26 this year and then to Nov. 19.Rockstar released GTA VI's official cover art Thursday, but didn't mention the price.In May, Take-Two reported a smaller-than-expected fiscal fourth-quarter loss.Oppenheimer said at the time it expected GTA VI to contribute $3.45 to the company's non-GAAP per-share earnings in fiscal 2027, assuming 40 million units are sold at a $70 base price. However, buyside estimates indicated that more than 50 million units may be sold, the brokerage's analyst, Martin Yang, said in a research note at the time.An incremental 10 million GTA VI sales would add $1 to 2027 estimates, according to Yang. "While we view (50 million) unit sales in (fiscal 2027) as possible, we believe management is unlikely to guide to such an optimistic goal initially," Yang said in the May report.Price: $240.76, Change: $+12.73, Percent Change: +5.58%

$MSFT$SONY$TTWO
Wire

Take-Two Interactive Sets June 25 Preorder Date For Grand Theft Auto VI

Take-Two Interactive's (TTWO) Rockstar Games said Thursday pre-orders for its Grand Theft Auto VI video game will start on June 25 for both digital and physical retail locations.Customers can currently place the title on their wish lists through the Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox storefronts, according to a statement.Shares of the company were up 3.6% in Thursday trading.Price: $236.76, Change: $+8.73, Percent Change: +3.83%

$MSFT$SONY$TTWO
Insider Trading

Take Two Interactive Software Insider Sold Shares Worth $950,515, According to a Recent SEC Filing

Daniel P Emerson, Chief Legal Officer, on June 15, 2026, sold 4,421 shares in Take Two Interactive Software (TTWO) for $950,515. Following the Form 4 filing with the SEC, Emerson has control over a total of 118,407 common shares of the company, with 118,407 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/946581/000094658126000055/xslF345X05/form4.xml

$TTWO
Insider Trading

Take Two Interactive Software Insider Sold Shares Worth $56,228,879, According to a Recent SEC Filing

Karl Slatoff, President, on June 01, 2026, sold 249,327 shares in Take Two Interactive Software (TTWO) for $56,228,879. Following the Form 4 filing with the SEC, Slatoff has control over a total of 1,126,165 common shares of the company, with 1,126,165 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/946581/000094658126000049/xslF345X05/form4.xml

$TTWO
Insider Trading

Take Two Interactive Software Insider Sold Shares Worth $6,821,087, According to a Recent SEC Filing

Lainie Goldstein, Chief Financial Officer, on June 01, 2026, sold 31,060 shares in Take Two Interactive Software (TTWO) for $6,821,087. Following the Form 4 filing with the SEC, Goldstein has control over a total of 283,374 common shares of the company, with 283,374 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/946581/000094658126000044/xslF345X05/form4.xml

$TTWO
Equities

S&P 500 Posts Eighth Consecutive Weekly Gain Led by Health Care, Utilities

The Standard & Poor's 500 index rose 0.9% this week, its eighth consecutive week of gains, amid upbeat trading heading into the holiday weekend.The S&P 500 ended Friday's session at 7,473.47, close to the record closing high it reached last week of 7,501.24.This marks the longest weekly winning streak since a nine-week run that ended in December 2023. The index is now up 3.7% for May and has climbed 9.2% in 2026.Government data this week showed US housing starts decreased less than estimated in April amid a jump in multi-family projects, while the single-unit component declined. Separate data from the National Association of Home Builders and Wells Fargo also showed US homebuilder confidence unexpectedly rose in May despite elevated mortgage rates, macro uncertainty and continued affordability challenges.US consumer sentiment, however, declined to a fresh record low in May amid fears that high gasoline prices could erode purchasing power, the University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.The health care and utilities sectors led the gainers this week, climbing 3.3% each, followed by a 3% boost in real estate, a 1.9% gain in consumer discretionary and a 1.6% rise in financials. Technology, industrials and materials also edged higher.DexCom (DXCM) had the largest percentage increase in health care, jumping 17% on the week. The company announced the launch of its Dexcom Flex, a continuous glucose monitoring system for adults with Type 2 diabetes who are not using intensive insulin therapy, in Germany.The utilities sector's top gainers included shares of Dominion Energy (D), which unveiled an agreement to merge with NextEra Energy (NEE) in an all-stock deal to create the largest regulated electric utility in the world. Dominion shareholders will receive a 25.5% stake in the combined entity, while NextEra's shareholders will own about 74.5% of the merged company. Dominion's stock climbed 9.6% while NextEra, the only weekly decliner in the sector, lost 5.2%.Communication services fell 1.9%, while consumer staples shed 1% and energy edged down 0.4%.The hardest-hit stocks in communication services included shares of Take-Two Interactive Software (TTWO), which fell 6.1% on the week. The company posted a narrower-than-expected fiscal Q4 loss on higher-than-expected revenue but its fiscal 2027 guidance came in below analysts' mean estimates.Next week will have just four trading days as the US stock market will be closed on Monday for Memorial Day.Earnings reports are expected from companies including Costco Wholesale (COST), Dell Technologies (DELL) and Salesforce (CRM).Economic data will include the April personal consumption expenditures index, which is the Federal Reserve's preferred inflation measure, on Friday. Other reports will include May consumer confidence, April new home sales, and the second revision to Q1 gross domestic product.

Dow JonesNasdaq CompositeS&P 500$COST$CRM$D$DELL$DXCM$NEE$TTWO
Asia Markets

US Equity Indexes Rise, Crude Oil Off Session Highs as Iran Peace Talks Press Ahead

US equity indexes rose as pressure on government bond yields eased and crude oil retreated from intraday highs amid intense diplomacy to reach a deal with Iran.The Nasdaq Composite rose 0.2% to 26,343.97, with the S&P 500 up 0.4% to 7,473.47 and the Dow Jones Industrial Average higher by 0.6% to 50,579.70. The Dow hit an all-time high of 50,830.24, according to data compiled by CNBC.Iran said peace negotiations with the US face "deep and significant" differences, and it's difficult to say if a deal can be reached over the next "weeks or months," Al Jazeera reported Friday.A Qatari negotiating team arrived in Tehran on Friday in coordination with the US to help secure a deal to end the war, Reuters reported, citing a source with knowledge of the matter. Pakistan's army chief Asim Munir is headed to Tehran to help mediate a settlement, Al Jazeera reported Friday.While there are "good signs" that an agreement to end the conflict is in sight, any deal would be "unfeasible" if Iran pursues measures to permanently control the Strait of Hormuz, US Secretary of State Marco Rubio said on Thursday, according to CNBC. The US plans to seize Tehran's stockpile of enriched uranium as part of peace negotiations, President Donald Trump reportedly said Thursday.West Texas Intermediate crude oil futures rose 0.1% to $96.44, and Brent crude futures climbed 0.9% to $103.54. The WTI and Brent futures traded more than 3% higher earlier in the day.US Treasury yields were mixed, with the 10-year down 2.6 basis points to 4.56% and the 30-year down 4.7 basis points to 5.06%. The two-year yield, however, rose 3.6 basis points to 4.12%.In economic news, the Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March.The University of Michigan consumer sentiment index was revised down to 44.8 for May from a preliminary reading of 48.2, compared with expectations for no revision in a Bloomberg-compiled survey and a drop from the final 49.8 in April.Respondents in the Michigan survey expected a 4.8% inflation rate over the next year and 3.9% annual inflation over the next five years, up from 4.7% and 3.5%, respectively, in April.In company news, Dell Technologies (DELL) shares jumped 17%, the top gainer on the S&P 500, after Wells Fargo raised its price target to $270 from $180.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares slumped 4.4%, the second-steepest decline on the Nasdaq.Merck (MRK) said Friday the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of Keytruda, in combination with Padcev, to treat a type of bladder cancer. Shares of Merck jumped 5.6%, the Dow's top performer.

Dow JonesNasdaq CompositeS&P 500$DELL$MRK$TTWO
Dow Reaches Fresh Peak as S&P 500 Logs Eighth Consecutive Weekly Jump
US Markets

Dow Reaches Fresh Peak as S&P 500 Logs Eighth Consecutive Weekly Jump

The Dow Jones Industrial Average hit a new record high on Friday, while the S&P 500 logged its eighth consecutive weekly advance.The Dow rose 0.6% to settle at 50,579.7, logging an all-time closing high for a second day in a row. The S&P 500 ended 0.4% higher at 7,473.5, while the Nasdaq Composite added 0.2% to 26,344. Barring communication services and consumer staples, all sectors were in the green, led by healthcare.US markets are closed on Monday for the Memorial Day holiday.This week, the Dow gained 2.1%, the S&P 500 advanced 0.9%, and the Nasdaq climbed 0.5%.Kevin Warsh formally assumed leadership of the Federal Reserve on Friday, replacing former Chair Jerome Powell amid growing signs of division at the central bank as inflation heats up.Warsh's nomination by US President Donald Trump had raised concerns about the central bank's independence."Markets increasingly believe that the (Federal Open Market Committee) -- and its new chair -- will act to burnish their inflation-fighting credentials and keep their independence intact," Scott Anderson, chief US economist at BMO, said in a report Friday. "This likely means holding policy rates higher for longer to prevent higher energy prices from feeding into longer-term inflation expectations."Fed officials flagged the possibility of raising interest rates if the Middle East conflict dragged on and kept inflation above the 2% goal, minutes from the central bank's April meeting showed Wednesday.Fed Governor Christopher Waller said Friday he is prepared to be patient in holding monetary policy at its current restrictive stance as the Middle East conflict continues to evolve."If I believe inflation expectations start to become unanchored, I would not hesitate to support an increase in the target range for the federal funds rate," Waller said. "But at this point, that action is premature."West Texas Intermediate crude oil was up 0.3% at $96.68 a barrel in Friday late-afternoon trade, while Brent rose 1.2% to $103.78. Both benchmarks were on track for weekly declines."Markets are still searching for signs of progress in a potential deal between the US and Iran," ING Bank said in a report Friday. "While there are signs of optimism, uncertainty reigns."A Qatari negotiating team arrived in Iran Friday to help secure a deal to end the conflict, Reuters reported, citing an unnamed source.US Treasury yields were mixed, with the 10-year rate last down one basis point at 4.56% and the two-year rate rising four basis points to 4.13%.In company news, Dell Technologies (DELL) shares soared nearly 17%, the top gainer on the S&P 500, as Wells Fargo raised its price target on the stock to $270 from $180.Take-Two Interactive Software (TTWO) shares fell 4.4%, the second worst performer on the S&P 500. Late Thursday, the video game publisher logged a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" Nov. 19.In economic news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, according to a survey by University of Michigan."Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Surveys of Consumers Director Joanne Hsu said. "The cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month."Gold was last down 0.7% at $4,509.10 per troy ounce, while silver lost 1% $75.96 per ounce.

Dow JonesNasdaq CompositeS&P 500$DELL$TTWO
Japan

US Equity Markets Close Higher as US-Iran Talks Progress, Oil Pulls Back

US equity indexes ended higher on Friday amid progress in US-Iran peace negotiations, and crude oil prices retreated from intraday highs.* A Qatari negotiating team arrived in Tehran on Friday in coordination with the US to help secure a deal to end the war, Reuters reported, citing a source with knowledge of the matter. Pakistan's army chief Asim Munir is headed to Tehran to help mediate a settlement, Al Jazeera reported.* The Conference Board's measure of leading indicators rose 0.1% in April following a 0.6% drop in March.* The University of Michigan consumer sentiment index was revised down to 44.8 for May from the preliminary reading of 48.2, compared with expectations for no revision in a Bloomberg survey and a drop from 49.8 in April.* July West Texas Intermediate crude oil fell $0.05 to settle at $96.30 per barrel, while July Brent crude, the global benchmark, was last seen up $0.79 at $103.37.* Dell Technologies (DELL) shares rose 17%, the top gainer on the S&P 500, after Wells Fargo raised its price target to $270 from $180.* Take-Two Interactive Software (TTWO) shares fell 4.4%, the steepest decline on the Nasdaq, after the company reported fiscal 2027 guidance below analyst expectations. Multiple investment firms also lowered their price targets on the stock.

Dow JonesNasdaq CompositeS&P 500$DELL$TTWO
Sectors

Sector Update: Tech Stocks Higher Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 3.8%.The Philadelphia Semiconductor index added 1.8%.In corporate news, Dell Technologies (DELL) shares surged 17% after Wells Fargo raised the company's price target to $270 from $180.Advanced Micro Devices (AMD) is working with Taiwan partners to boost production capacity as higher-than-expected demand limits the global CPU market, Reuters reported, citing AMD Chief Executive Lisa Su. AMD shares climbed 3.8%.Zoom Communications (ZM) appears poised for growth acceleration following a strong Q1, given sustained momentum in its AI products, RBC Capital Markets said in a note. Zoom shares jumped past 9%.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares were down 3.9%.

$AMD$DELL$TTWO$ZM
Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Take-two Interactive Software, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price at $279, 40.8x our FY 27 EPS estimate, in line with its five-year forward average P/E at 41.0x. We cut our FY 27 EPS estimate by $3.72 to $6.83 and set FY 28's at $10.14. TTWO anticipates a breakout year ahead, led by the upcoming release of Grand Theft Auto VI and a robust pipeline of new titles, with guidance for record net bookings and operating cash flow. Management projects continued strong performance and the ability to sustain higher scale, with improved operational leverage and cost efficiency, aided by margin improvements and increased use of technology, including AI. There was continued success and innovation in mobile, especially from Zynga, with both older and newer titles achieving growth. The mobile business benefited from strong execution, new features, and live service enhancements, and the direct-to-consumer channel was highlighted for driving both net bookings and margin growth.

$TTWO
Equities Rise Intraday, Oil Falls as Markets Monitor Middle East Peace Prospects
US Markets

Equities Rise Intraday, Oil Falls as Markets Monitor Middle East Peace Prospects

US benchmark equity indexes were higher intraday, while oil prices fell as traders awaited progress in diplomatic efforts to end the Middle East conflict.The Dow Jones Industrial Average was up 1% at 50,786.6 after midday Friday, after closing at a record high in the previous session. The S&P 500 and the Nasdaq Composite were up 0.7% each at 7,499.5 and 26,464.9, respectively, intraday. Barring communication services and consumer staples, all sectors were in the green, led by healthcare.West Texas Intermediate crude oil was down 0.6% at $95.74 a barrel, while Brent fell 0.2% to $102.37. Both benchmarks were on track for weekly declines."Markets are still searching for signs of progress in a potential deal between the US and Iran," ING Bank said in a report Friday. "While there are signs of optimism, uncertainty reigns."A Qatari negotiating team arrived in Iran Friday in coordination with Washington to help secure a deal to end the conflict, Reuters reported, citing an unnamed source.On Thursday, US Secretary of State Marco Rubio reportedly said there were "good signs" that a peace deal is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, news outlets reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."US Treasury yields were mixed intraday Friday, with the 10-year rate down 2.4 basis points at 4.56% and the two-year rate rising four basis points to 4.12%.Kevin Warsh took charge of the Federal Reserve Friday, replacing former Chair Jerome Powell amid growing signs of division at the central bank as inflation heats up.Fed Governor Christopher Waller said he is prepared to be patient in holding monetary policy at its current restrictive stance as the Middle East conflict continues to evolve."If I believe inflation expectations start to become unanchored, I would not hesitate to support an increase in the target range for the federal funds rate," Waller said. "But at this point, that action is premature."In company news, Dell Technologies (DELL) shares soared 16% intraday, the top gainer on the S&P 500, as Wells Fargo raised its price target on the stock to $270 from $180.Take-Two Interactive Software (TTWO) shares were down 3.6%, the worst performer on the S&P 500. Late Thursday, the video game publisher logged a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" Nov. 19.In economic news, US consumer sentiment declined to a fresh record low in May as people fear that high gasoline prices could erode their purchasing power, according to a survey by University of Michigan."Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Surveys of Consumers Director Joanne Hsu said. "The cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month."Gold was down 0.5% at $4,519.30 per troy ounce, while silver lost 0.1% $76.66 per ounce.

Dow JonesNasdaq CompositeS&P 500$DELL$TTWO
Sectors

Sector Update: Tech Stocks Rise Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.6%.The Philadelphia Semiconductor index added 2.6%.In corporate news, Dell Technologies (DELL) shares surged 16% after Wells Fargo raised the company's price target to $270 from $180.Zoom Communications (ZM) appears poised for growth acceleration following a strong Q1, given sustained momentum in its AI products, RBC Capital Markets said in a note. Zoom shares jumped past 10%.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares were down 3.6%.

$DELL$TTWO$ZM
Asia Markets

US Equity Indexes Rise as Momentum Builds to Secure Iran Peace Agreement

US equity indexes rose as pressure on government bond yields eased and crude oil retreated from intraday highs amid progress in Iran peace talks.The Nasdaq Composite rose 0.5% to 26,423.4, with the S&P 500 up 0.6% to 7,488.2 and the Dow Jones Industrial Average higher by 0.8% to 50,709.3 in Friday's midday trading. The Dow hit an all-time high of 50,746.25, according to data compiled by CNBC.A Qatari negotiating team arrived in Tehran on Friday in coordination with the US to help secure a deal to end the war, Reuters reported, citing a source with knowledge of the matter. Pakistan's army chief Asim Munir is headed to Tehran to help mediate a settlement, Al Jazeera reported Friday.While there are "good signs" that an agreement to end the conflict is in sight, any deal would be "unfeasible" if Iran pursues measures to permanently control the Strait of Hormuz, US Secretary of State Marco Rubio said on Thursday, according to CNBC. The US plans to seize Tehran's stockpile of enriched uranium as part of peace negotiations, President Donald Trump reportedly said Thursday.West Texas Intermediate crude oil futures rose 0.8% to $97.19, and Brent crude futures climbed 1.1% to $103.65. The WTI and Brent futures traded more than 3% higher earlier in the day.US Treasury yields were mixed, with the 10-year down 1.6 basis points to 4.57% and the 30-year down 3.4 basis points to 5.08%. The two-year yield, however, rose 3.8 basis points to 4.13%.In economic news, the Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March."Strong investment in AI infrastructure, data centers, and energy production likely will have a positive impact on growth and sustain business spending but may only partially offset weakness on the consumer side," said Justyna Zabinska-La Monica, Senior Manager for Business Cycle Indicators.The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for no revision in a Bloomberg-compiled survey and a drop from the final 49.8 in April. Respondents expected a 4.8% inflation rate over the next year and 3.9% annual inflation over the next five years, up from 4.7% and 3.5%, respectively, in April."Consumer sentiment fell for the third straight month as supply disruptions in the Strait of Hormuz continue to boost gasoline prices," Michigan said.In company news, Dell Technologies (DELL) shares jumped 17%, the top gainer on the S&P 500, after Wells Fargo raised its price target to $270 from $180.Take-Two Interactive Software (TTWO) reported a narrower fiscal Q4 net loss as revenue increased. MoffettNathanson adjusted its price target on the company's shares to $196 from $206 while maintaining its neutral rating. Take-Two shares slumped 4.3%, the steepest decline on the Nasdaq.Merck (MRK) said Friday the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of Keytruda, in combination with Padcev, to treat a type of bladder cancer. Shares of Merck jumped 5.4%, the Dow's top performer.

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