Owner of T.J. Maxx, HomeGoods rings up record sales as consumers keep bargain hunting

Figma shares are rising moderately in pre-market trading after Citigroup initiated coverage with a Buy rating, saying demand tied to AI could help fuel the design software company’s next phase of growth, according to the note provided by Bloomberg.

Citi set a $36 price target on the stock and said Figma is well-positioned to offset AI disruption concerns through its own AI-driven consumption growth.

"Our proprietary customer and go-to-market (GTM) checks with hyperscalers and large financial services (FS) firms suggest strong seat upgrades & credit pack utilization, which offer positive reads on AI-monetization strategy," analyst Tyler Radke commented.

The company has been moving to roll out AI-native features in recent months, including developer-focused tools and in-house Figma agent aimed at making Figma a more central operating layer between product teams, engineers and AI systems.

Citi also pointed to upcoming product launches and potential monetization tied to Figma’s Model Context Protocol server which is an emerging framework that could allow AI systems to interact more directly with design environments.

Figma’s most recent earnings posted stronger-than-expected revenue growth while management raised its full-year guidance, saying that AI-related products were seeing encouraging adoption.

Still, the company that went public in 2025 has faced intense pressure with stock tumbling more than 50% this year-to-date over fears that automated AI code-generation tools and design alternatives from competitors like Anthropic might squeeze the need for seat-based design software.

Shares for the film production company Lionsgate soared on Tuesday following rumors of a potential buyout.

According to a person familiar with the possible merger and acquisitions deal, streaming giant Netflix is one of the companies that may be interested in buying Lionsgate Studios, per reporting by Semafor. A Netflix spokesperson denied the rumor to Deadline.

Neither Lionsgate nor Netflix confirmed the news, but nevertheless the stock climbed, closing up 14%. The stock fell 4.6% in premarket trading after Netflix denied the rumor.

Netflix closed lower on news that Fox will acquire Roku in an approximately $22 billion deal after it was also rumored that the streaming company was interested in that acquisition. “Netflix did not make a bid for Roku,” a spokesperson told Semafor. This comes after Netflix withdrew its buyout bid for Warner Bros. Discovery earlier this year.

Lionsgate’s shares are up 77% since January. Lionsgate owns massive franchises like “John Wick” and “The Hunger Games.” The film company has a market cap of approximately $4.7 billion, making it roughly 5x smaller than Roku and 13x smaller than Warner Bros.

Oil prices slid to their lowest levels in more than three months today after a preliminary ceasefire agreement between the US and Iran raised expectations that more crude could return to global markets and key shipping routes through the Strait of Hormuz could reopen.

Brent crude fell below $78 a barrel while West Texas Intermediate dropped to $73.31, extending losses as traders priced in lower geopolitical risk premiums tied to Middle East supply disruptions.

The preliminary pact announced by President Donald Trump and Iranian leaders establishes a 60-day ceasefire to end the active hostilities that have choked the Middle East since late February. A formal memorandum of understanding is scheduled to be officially signed in Switzerland this Friday, according to Bloomberg report.

Trump said on Sunday that the Strait of Hormuz would be opened when the agreement is signed in Switzerland on Friday, writing on Truth Social, “Ships of the World, start your engines. Let the oil flow!”

US Energy Department data, meanwhile, showed that America’s strategic oil stockpiles sank last week to their lowest level since 1983, indicating sustained demand to rebuild them even if the Mideast conflict ends.

Stocks that moved lower:

• Devon Energy, Chevron, Occidental Petroleum, and Phillips 66 fell as oil prices dropped.