Caricature illustration depicting three French bulls in a field. 'Le Rire' magazine 1902.

Three bulls in a field (Universal History Archive/Getty Images)

Stocks gain and oil dips as traders evaluate US-Iran deal progress

Stocks managed to eke out a gain while the price of oil dipped as traders evaluated the progress on a deal with Iran.

51m

Stocks finished the day in the green after wavering as traders digested war updates, with US Secretary of State Marco Rubio telling reporters there had been “some good signs” in talks.

Utilities was the best-performing sector while consumer staples was the worst, dragged down by Walmart.

Stocks that moved higher:

Rigetti Computing, IonQ, D-Wave Quantum, Quantum Computing, and Infleqtion soared after the Commerce Department awarded $2 billion in grants in deals that include government equity stakes.
IBM also soared after winning a $1 billion grant from the US Commerce Department as part of the same quantum computing initiative.
GlobalFoundries jumped after winning a $375 million grant from the US government.
Spotify soared after announcing upbeat revenue guidance and a new AI remix tool.
SoftBank ADRs rallied on OpenAI and SB Energy IPO plans, with the Japanese-traded stock notching its biggest one-day gain since 2000.
Nebius soared on a Bloom Energy deal and rumors of price hikes, while Bloom Energy ticked up on the same news.
Applied Digital skyrocketed after yesterday’s news of a long-term lease agreement with the same “investment-grade” hyperscaler it struck a similar deal with in April.
Birkenstock leaped after announcing a $250 million share buyback.
Advance Auto Parts climbed after reporting better-than-expected Q1 earnings and sales.

Stocks that moved lower:

Nvidia dipped after reporting Q1 results that included a corporate makeover and a $1 trillion revenue target, prompting a wave of Wall Street price target increases.
Walmart dropped after it reported Q1 earnings results that hit Wall Street estimates but gave lukewarm guidance for the current quarter.
Intuit plummeted after reporting slowing revenue growth.

Paige Oamek14m

Workday jumps on positive Q1 earnings under returning CEO

Workday spiked as much as 10% after-hours on Thursday as the B2B software-as-a-service company announced first-quarter results.

Here are the numbers:

Q1 revenue of $2.54 billion (compared to analyst estimates of $2.51 billion).
Q1 adjusted earnings per share of $2.66 (estimate: $2.51).
Q1 subscription revenue of $2.35 billion (estimate: $2.33 billion).

This was Workday’s first quarter with its returning CEO, cofounder Aneel Bhusri, who retook the reigns in February of this year. It was also a test to see how the company’s ongoing AI pivot has been going, as AI investment often comes with steep costs that may not initially be fully counterbalanced by savings through efficiency.

Workday has been trading down 40% since the beginning of 2026.

In February, the company also cut about 2% of its global workforce (~400 positions) — which follows larger-scale layoffs last year as the company leaned into AI.

The software company is also still litigating a nationwide class-action lawsuit that alleges it uses said AI to algorithmically discriminate against certain job seekers based on age, race, and disability (which the company disputes).

Looking ahead, the company said it projects 2027 subscription revenue outlook of $9.925 billion to $9.950 billion, on par with analyst estimates.

“Our focus remains on executing on our agentic AI roadmap while driving operational efficiencies as we scale,” said CFO Zane Rowe. The company said in a Q4 earnings call that AI was involved in roughly half of all customer base transactions.

Two screen display gameplay in Grand Theft Auto

Take-Two reaffirms November release for “GTA 6,” reports better-than-expected Q4 net bookings

Take-Two said Rockstar will kick off its “GTA 6” marketing campaign this summer.

Max Knoblauch34m

Saleah Blancaflor3h

US gas prices rise again, sitting at their highest levels in 4 years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices has risen from a week earlier, sitting at the highest they’ve been in four years.

The price is currently $4.56 a gallon, up $0.03 from last week and $1.38 higher than this time last year, according to the American Automobile Association. Today’s prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend, and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy’s Patrick De Haan predicts that gas prices could soon hit $4.80 a gallon soon amid the strait’s closure.

Oil prices ticked up slightly on Thursday, with West Texas Intermediate sitting around $100 a barrel, after plunging on Wednesday.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Memorial Day Weekend Gas Prices Reach Four-Year Highs

Oil prices ticked up slightly on Thursday, with West Texas Intermediate sitting around $100 a barrel, after plunging on Wednesday.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Luke Kawa

What Wall Street’s saying about Nvidia’s Q1 results

A makeover beautifies the growth outlook; so does the CPU opportunity.

Jensen Huang in front of Vera Rubin at CES 2026

Helena Cheng8h

SoftBank rallies on OpenAI and SB Energy IPO plans; its Japanese-traded stock notches best day since 2000

SoftBank shares skyrocketed in Tokyo trading, notching their biggest daily gain since 2000, boosted by news about planned IPOs at OpenAI, in which SoftBank has a sizable stake, and SoftBank’s own SB Energy unit. ADRs of SoftBank traded in the US rallied, too.

OpenAI is accelerating the timeline to its public debut, preparing to confidentially file its IPO prospectus with regulators as early as Friday, according to The Wall Street Journal. That could set the stage for a highly anticipated public listing as early as September.

SoftBank has systematically expanded its financial exposure to OpenAI, securing a highly valuable stake in the company. As of the fiscal year-end, SoftBank’s cumulative investment in OpenAI totaled $34.6 billion, with a fair value of $79.6 billion, and cumulative investment gains totaled $45 billion, according to a SoftBank filing.

For SoftBank, a successful public debut is critical to demonstrating that OpenAI can protect its market position amid intense industry pressure. Investors have grown increasingly anxious that OpenAI is losing ground to competitors like Anthropic, which is currently in talks for a funding round that could push its own valuation past that of OpenAI.

Adding to the upward momentum, SB Energy, the digital infrastructure and clean energy development firm co-owned by SoftBank and Ares Management, confirmed its own confidential draft registration filing for a major US public listing.

This multipronged IPO pipeline has boosted investors’ confidence in billionaire founder Masayoshi Son’s high-conviction AI thesis, showcasing a road map for SoftBank to transition its paper gains into potential liquidity. SoftBank’s stock is up 37% so far this year.