Markets
Nia Warfield, Luke Kawa

US stocks go nowhere with big week of earnings on tap

The grind higher continued on Monday, but at a snail’s pace ahead of earnings from megacap tech companies Microsoft, Apple, Amazon, and Meta this week.

The S&P 500 opened higher on the heels of this weekend’s trade deal with the European Union and hopes for an extension of the quasi-truce for cross-border commerce with China. The benchmark index gave back those gains throughout the day before creeping back into the green for another record close just before the end of trading.

The Nasdaq 100 rose 0.4% while the Russell 2000 ended 0.2% lower.

A Bloomberg index that tracks the Magnificent 7 closed at a record high for the first time since December 17.

Energy, technology, and consumer discretionary were the only S&P 500 sector ETFs to finish positive on the day, while real estate, materials, utilities, and consumer staples all fell at least 1%. The number of stocks that declined in the S&P 500 outnumbered those that advanced by 220.

The day’s paltry gains in the index were led by Super Micro Computer, which rose double digits, as well as Nike, which popped nearly 4% after JPMorgan analysts upgraded the stock to “overweight” and hiked their price target. Declines were led by Albemarle, which fell nearly 11%, as well as Revvity, which sank 8% after the medical equipment maker topped Q2 estimates but slashed its full-year profit forecast.

Meanwhile…

Shares of Samsung Electronics had their best day of the year, rising 6.8% during trading in South Korea after the electronics giant announced a $16.5 billion chip manufacturing deal that Elon Musk said was with Tesla. Tesla shares were up 3% on the news.

Energy companies including Cheniere Energy, Venture Global, APA Corporation, EOG Resources, and Diamondback Energy all jumped after the EU said it would purchase $750 billion in US energy products over the next three years as part of a trade agreement with the US.

Celcuity rose more than 150% after the biotech company reported positive results in late-stage trials for its breast cancer combination treatment.

Duolingo shares sank 6.5% after the language learning company got its price target cut to $450 from $475 by Citizens JMP as user engagement growth slows.

Opendoor shares initially popped after the real estate tech company (and retail favorite) postponed a shareholder vote relating to a planned reverse stock split, but gave all that back and then some to finish down 8%.

ChargePoint plunged nearly 19% after the EV charging company announced a 20-for-1 reverse stock split in an effort to stave off delisting from the New York Stock Exchange.

Shares of Centene slumped 5% after Cantor cut its rating on the stock to “neutral” and slashed its price target, citing uncertainty in the company’s key Medicaid and ACA exchange businesses. 

Palantir shares fell as much as 3% before closing down just 0.6% following a new report from The Information that federal agencies (like the Department of Defense) are testing AI to reduce reliance on contractors.

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markets
Helena Cheng

Regeneron sinks as Phase 3 skin cancer treatment trial fails

Regeneron is sinking in premarket trading after announcing its late-stage skin cancer treatment failed to meet its primary goal in a Phase 3 trial.

The pharma giant reported no statistically significant improvement in progression-free survival for patients with advanced melanoma. This late-stage trial failure could be a blow to Regeneron’s oncology expansion strategy, where it hoped to challenge competing treatments like Merck’s Keytruda.

The clinical setback is triggering immediate price target cuts across Wall Street from the likes of BMO Capital, Citi, RBC Capital, Evercore ISI, and Leerink Partners.

“This was to be the defining catalyst of 1H26, with share sentiment inextricably tied to this release,” BMO Capital analyst Evan David Seigerman commented in a note, per Bloomberg.

Seeking to shift investor sentiment, Regeneron announced a major collaboration with Parabilis Medicines, paying $125 million up front with the potential for up to $2.2 billion in milestone payments to combine its antibody platform with Parabilis’ peptide technology.

markets
Helena Cheng

LiveRamp surges on $2.54 billion all-cash buyout by Publicis Groupe and Q4 earnings results

LiveRamp’s shares are surging in premarket trading following an announcement over the weekend that French advertising company Publicis Groupe will acquire the data collaboration platform for $38.50 per share in an all-cash deal. The transaction values LiveRamp at a total equity value of $2.167 billion.

The buyout marks a massive consolidation in the advertising technology space. Under the terms of the agreement, Publicis will fund the acquisition using cash on hand and debt. The transaction has been unanimously approved by both boards of directors and is expected to officially close by the end of calendar year 2026, subject to regulatory and shareholder approvals.

“This transaction reflects the strength of our business, the value of our platform and the strategic role LiveRamp plays in an AI-driven market,” Scott Howe, CEO of LiveRamp, commented in the statement.

Following the news, LiveRamp also delivered Q4 results for its fiscal year 2026. Total revenue for the quarter rose 9% year over year to $206 million. Growth was driven primarily by subscription revenue, which also jumped 9% to $158 million.

For full fiscal year 2026, net cash provided by operating activities reached a record $168 million. LiveRamp repurchased approximately 7.1 million shares for $194 million during fiscal 2026, leaving $262 million in remaining capacity under its current share authorization program.

markets
Max Knoblauch

Ford’s energy rally revs up again on 5-year supply deal with EDF

Ford’s energy rally — which last week saw it log its best trading day since March 2020 and add about $10 billion in market cap before paring gains on Friday — appears to be kicking off again.

On Monday, the company’s energy business announced a five-year supply deal with a subsidiary of EDF.

Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.

Ford shares were up 6.8% in recent premarket trading on the announcement.

Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”

Ford Energy and EDF power solutions North America Announce Five-Year Framework Agreement

Ford Energy and EDF power solutions North America Announce Five-Year Framework Agreement

Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.

Ford shares were up 6.8% in recent premarket trading on the announcement.

Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”

markets
Hyunsoo Rim

UnitedHealth falls after Berkshire dumps its stake while picking up Macy’s and Delta

UnitedHealth fell more than 5% in premarket trading Monday after Berkshire Hathaway disclosed Friday that it had fully exited its stake in the health insurer.

According to Berkshire’s latest 13F filing, which shows holdings as of March 31, the conglomerate sold its entire ~5 million-share stake in UnitedHealth — less than a year after first buying the stock in the second quarter of 2025 — as part of a broader portfolio overhaul under Greg Abel, who succeeded Warren Buffett as CEO on January 1.

UnitedHealth shares have been volatile over the past year amid concerns over rising medical costs and DOJ scrutiny of its billing practices — though its latest earnings report showed signs of stabilization, with the company beating Q1 earnings estimates and raising its full-year profit outlook.

Berkshire also fully exited positions in a number of other stocks in the first quarter, including Amazon, Domino’s, Pool Corp, Mastercard, and Visa, all of which were mildly in the red in early trading.

Meanwhile, Berkshire added Delta Air Lines and Macy’s to its equity portfolio, while boosting stakes in Alphabet and The New York Times.

markets
Claire Yubin Oh

NextEra reportedly in talks to acquire Dominion, valuing the company at around $66 billion

Dominion Energy soared 12% in premarket trading on Monday on reports that NextEra Energy is in advanced talks to acquire the company in a deal that would create a more than $400 billion utility giant (including debt), as suppliers race to meet growing demand to power AI data centers.

The mostly stock deal would value Dominion at about $76 per share, or around $66 billion, and see NextEra exchange about 0.8 per share for each outstanding share of Dominion, Bloomberg reported, citing people familiar with the matter. The arrangement, which requires federal and local approvals but could be announced as soon as today, would leave NextEra shareholders with about 75% of the combined company as well as a small additional cash component.

Including debt, the deal values Dominion at ~$116 billion and would land as the largest power tie-up on record — underscoring the scale and scope of today’s energy businesses in the age of AI.

NextEra Energy, America’s biggest utility company, with an enterprise value of more than $300 billion, has seen its valuation lead over its rivals narrow in recent years. Buying Dominion, which is worth ~$111 billion including debt, would allow NextEra to reach deeper in PJM Interconnection. Importantly, PJM is the country’s largest electric grid and covers Virginia, which has America’s biggest concentration of data centers.

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