6/12/25

Stocks push higher as inflation eases

Stocks continued to come back Thursday as Wall Street digested upbeat economic data and a few strong earnings results. May’s Producer Price Index rose just 0.1% for the month, softer than the 0.2% economists expected. Markets also brushed off recent unilateral tariff threats from President Trump.

The S&P 500 was up 0.38% and the tech-heavy Nasdaq 100 rose 0.24%, while the Russell 2000 sank 0.38%.

Healthcare and utilities led sector gains while communication services lagged.

Oracle topped S&P 500 performers, rising 13% after topping Q4 estimates as the company’s cloud infrastructure revenue soared. On the flip side, Boeing shares sank nearly 5% following the tragic crash of a Boeing 787 Dreamliner.

Elsewhere…

Electric vehicle makers Rivian, Lucid, and Tesla dipped after Trump signed congressional resolutions to revoke California’s ability to set its own emissions standard.

Shares of air taxi maker Joby Aviation fell 8% after Cantor Fitzgerald downgraded the stock to neutral, warning that the company has the highest cash burn rate in the sector.

GameStop shares sank 17% after the company announced yesterday after market close that it plans to raise more debt with a $1.3 billion private offering of convertible senior notes.

Mattel shares jumped as much as 2% before closing flat after the toymaker struck a deal with OpenAI to bring AI-powered toys and games to market.

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markets

1h

Plug Power jumps on elevated call demand

Plug Power is up today amid a wave of bullish options action.

As of 11:40 a.m. ET, 28,819 calls have traded, nearly double the 20-day average of 14,527.

The two contracts seeing the most activity are calls with a strike price of $2 that expire on October 17 and on this Friday.

The put/call ratio is below 0.13 as of 11:40 a.m., versus a 20-day average of 0.32.

markets

2h

Warner Bros. Discovery dips after TD Cowen downgrade cools deal frenzy

Warner Bros. Discovery shares were down over 8% after TD Cowen downgraded the stock from “buy” to “hold,” even as it kept its $14 price target.

The dip comes on the heels of a sharp rally sparked by reports that Paramount Skydance may bid for the media giant. TD says that while a successful bid could send WBD north of $20, the current risk-reward feels lopsided. If nothing materializes, shares could slip back toward $11 to $12.

Analysts noted that much of the upside from deal chatter is already priced in. TD also flagged limited potential buyers if Paramount Skydance fell though and the lack of concrete details around a bid. In short: the rumor mill has been driving the stock, but fundamentals haven’t clearly caught up.

Reaction has been mixed: last week, Wells Fargo reiterated an equal-weight rating on the stock and hiked its price target to $14 from $13.

Even with today’s dip, WBD shares are still up 67% year to date.

J. Edward Moreno

Hims falls after FDA posts warning letter

The agency’s letter took issue with the claims made in Hims’ marketing materials.

Hims & Hers Big Game commercial

One mother’s LinkedIn post inspired GameStop CEO Ryan Cohen to give a surprise gift to a new employee

The GameStop CEO gave James, a teenage employee an Irving, Texas, an e-bike so he could get to work easier.

James poses with his new e-bike outside a GameStop store

RALPH LAUREN

Ralph Lauren falls as Wall Street digests the luxury brand’s modest growth plans

The high-end retailer delivered a solid revenue outlook, but warned that tariffs and inflation could squeeze margins.

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