Markets
Luke Kawa

US stocks jump as drama-free session spurs rebound

A day largely bereft of immediate tariff threats was music to traders’ ears, with the S&P 500, Nasdaq 100, and Russell 2000 all booking strong gains on Tuesday.

Energy was the best-performing S&P 500 sector ETF, as the lack of immediate supply distributions from Canada buoyed the group despite a downdraft in the price of crude oil. Tech and consumer discretionary were also up more than 1%, while the defensive consumer staples and utilities sectors suffered declines and were at the bottom of the sector leaderboard.

Palantir skyrocketed on the heels of blowout revenue growth and guidance that suggests more of the same is in the offing. Some bears are admitting the error of their ways, while bulls rejoice and look for further gains.

Nvidia rebounded from Monday’s tumble as traders showed persistent demand to buy the dip, and Bank of America doubled down on the stock as its top pick in the industry.

Embattled server company Super Micro Computer surged after saying it would provide a “business update” next week, which has spurred hopes that the company will get its corporate filings in order in time to avoid delisting from the Nasdaq.

Fox jumped on top- and bottom-line results that surpassed every analysts’ expectation and plans to launch its first streaming service this year.

Merck got slammed after pausing shipments of one of its key drugs to China on poor demand.

PayPal had its worst day since February 2022 as analysts fret that the payments company is losing market share.

North America has not been kind to PepsiCo, with its lackluster results for the region prompting a large retreat in the stock.

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markets
Helena Cheng

Figma rises on Citi’s Buy rating and $36 price target

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.

Tasha Matsumoto
19h
Semiconductors slump, dragging down stocks

The S&P 500 and Nasdaq 100 fell as chip stocks and AI-linked names lost steam. Oil prices slid on the prospect of the Strait of Hormuz reopening.

Grizzly bear growling USA.
markets
Paige Oamek

Lionsgate closes higher on Netflix acquisition rumor, streaming giant denies report

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.

markets
Helena Cheng

Oil tumbles below $80 to 3-month low on US-Iran deal

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:

markets
Helena Cheng

Eos Energy surges on commercial launch of second battery production line

Eos Energy Enterprises is surging in early trading after announcing the official start of commercial production at its second automated battery manufacturing line.

In a statement, the company said this milestone positions it to scale production of its proprietary zinc-based long-duration energy storage systems to meet rising commercial demand.

Management touted the enhanced efficiency of this facility, with design upgrades slashing raw material travel by 86% and shortening the physical production line length by 40% compared to Line 1.

“Battery Line 2 demonstrates our ability to continuously improve as we scale,” said John Mahaz, Chief Operating Officer of Eos. “It validates that our manufacturing system can be replicated and scaled with discipline.”

The battery energy storage company confirmed that while subassemblies will continue coming online through the early third quarter, full production capacity is targeted for the fourth quarter of 2026. The ultimate goal is to hit an aggregate 4 gigawatt-hours of annual manufacturing capacity by the end of 2026. Management also highlighted that Battery Line 1 already surpassed its full-year 2025 output within the first 164 days of 2026.

Today’s announcement builds on recent operational momentum for Eos, which posted better-than-expected Q1 sales and announced a joint venture with Cerberus Capital Management in May. However, shares are still down 37% year to date.

For the full year, Eos still expects to achieve revenues between $300 million and $400 million, in line with its previously provided guidance.

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