Dayforce said in talks to be acquired, Soho House to go private: Morning Buzz

The major indexes were trending lower near noon as investors lean into a busy week headlined by Jackson Hole central bank speeches and earnings from major retailers. Geopolitical developments are adding weight as markets are monitoring the potential implications of President Trump’s meeting with Ukraine’s president and European leaders as Washington seeks support for a Ukraine–Russia peace initiative.

Looking to commodities, gold was little changed, while oil prices were marginally higher.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists, and subscribe to the Fly By if you want to know how the markets will open, which stocks will be moving and why.

1. STOCK NEWS:

• Thoma Bravo is in talks to acquire Dayforce (DAY), Bloomberg reports
• Novo Nordisk (NVO) said the FDA has approved an additional indication for Wegovy and the company made a deal with GoodRx (GDRX) to expands access to weight-loss drugs Ozempic and Wegovy 
• Meta (META) may debut its “Hypernova” glasses in September, Bloomberg says
• Soho House (SHCO) signed a definitive agreement to go private
• Tonix Pharmaceuticals (TNXP) announced FDA approval of Tonmya for the treatment o fibromyalgia

2. WALL STREET CALLS:

• CVS Health (CVS) upgraded to Buy from Neutral at UBS
• Wells Fargo double upgraded Cogent (CCOI) on revenue inflection point
• Occidental (OXY) downgraded at Morgan Stanley, here’s why
• Nano Nuclear Energy (NNE) double downgraded to Sell at Ladenburg after Q3 update
• BofA sees Redwire (RDW) as less attractive than space peers, starts at Underperform

3. AROUND THE WEB:

• Spruce Point says it is short iRhythm Technologies (IRTC), believing that risks related to an ongoing DOJ investigation into product deficiencies that jeopardize lives are underappreciated
• British motorists can lease a Tesla (TSLA) EV for about half the cost it was a year ago, as the company attempts to boost its faltering sales in the U.K., The Times reports
• Citigroup’s (C) Vis Raghavan, Head of Banking, has accelerated a hiring spree of former JPMorgan Chase (JPM) colleagues, FT reports
• Foxconn (HNHPF) plans to manufacture data center equipment with Softbank (SFTBY) at the company’s former EV factory in Ohio, Reuters reports
• Six Flags (FUN) has had a “nightmare” of a summer following its merger with Cedar Fun due to severe thunderstorms and excessive heat, new rides being delayed, competition from new rivals, quality issues and economic uncertainty, WSJ says

4. MOVERS:

• TeraWulf (WULF) gains after announcing Fluidstack exercised its option to expand at the company’s Lake Mariner data center campus in Western New York
• Yext (YEXT) higher after CEO Michael Walrath submitted a proposal to acquire all outstanding shares of the company for $9 per share in cash
• Sunrun (RUN) increases after RBC Capital upgraded the stock to Outperform
• Bitmine Immersion (BMNR) lower after announcing its crypto holdings exceeded $6.612B
• Critical Metals (CRML) falls in New York after publishing assay results from its Tanbreez Project in Greenland

5. EARNINGS/GUIDANCE:

• Riskified (RSKD) reported Q2 results and provided guidance for FY25
• Freighthos (CRGO) reported Q2 results, with EPS in-line with expectations
• SUNation Energy (SUNE) reported Q2 results, with EPS higher year-over-year
• High Tide (HITI) provided guidance for Q3
• Bitdeer (BTDR) reported Q2 results, with CEO Matt Kong commenting, “Q2 marked a key inflection point”

INDEXES:

Near midday, the Dow was down 0.03%, or 14.98, to 44,931.14, the Nasdaq was down 0.18%, or 38.91, to 21,584.06, and the S&P 500 was down 0.10%, or 6.73, to 6,443.07.