Midday Fly By: Amazon to buy Globalstar, J&J posts ‘beat and raise’ report

The major averages were broadly higher near noon following a session yesterday in which investors mostly shrugged off the failed peace talks between the U.S. and Iran. Markets are stabilizing and leaning cautiously higher as investors shift from escalation fears to tentative optimism around renewed U.S.-Iran diplomacy. Crude has slipped back below the $100 level as signals emerge that both sides are considering another round of negotiations, easing immediate supply fears tied to the Strait of Hormuz. 

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Amazon (AMZN)(GSAT) for $90 per share in cash or shares
• Wells Fargo (WFC) reported(C) and JPMorgan (JPM) both reported upbeat quarterly earnings and revenue
• Johnson & Johnson (JNJ) provided a “beat and raise” report for Q1 and raised its quarterly dividend 3.1%
• CarMax (KMX) reported upbeat Q4 results, noting it plans to open four new stores in FY27
• United Airlines (UAL) CEO Scott Kirby has floated the idea of a possible tie-up witht American Airlines (AAL), Bloomberg reports

2. WALL STREET CALLS:

• Tesla (TSLA) upgraded to Neutral from Sell at UBS
• Deutsche Bank (GM) to Buy following pullback
• Ford (F) upgraded to Buy from Neutral at UBS
• GFL Environmental (GFL) downgraded to Underweight at JPMorgan
• Craig-Hallum (FSLY) to Hold

3. AROUND THE WEB:

• Delta Airlines (DAL) has removed a pair of key environmental sustainability targets from its web page, deleting its pledge to use sustainable aviation fuel for 10% of its jet fuel by 2030 and rephrased its quest to achieve net-zero emissions by 2050 as an “aspiration,” not a goal, Bloomberg reports
• Anthropic hired Ballard Partners, a lobbying firm with strong ties to the Trump administration days after the DOD designated the startup a supply chain risk, Bloomberg says
• Microsoft (MSFT) is exploring the potential of technologies like OpenClaw in an enterprise context, including a team of always-on agents within Microsoft 365, The Information says
• Netflix’s (NFLX) hostility to cinematic releases has long since damaged its relationships with theater owners, but co-CEO Ted Sarandos is trying to recover them, NY Times says
• U.S. President Donald Trump is pitching the idea of a U.S. naval blockade of the Strait of Hormuz as an opportunity for American oil-and-gas exporters, but the squeeze on supplies will likely poorly impact gas prices at the pump, WSJ says

4. MOVERS:

• Avanos (AVNS) higher after announcing it will be acquired by American Industrial Partners for $25.00 per share
• Travere Therapeutics (TVTX) increases after announcing full FDA approval of Filspari
• Bloom Energy (BE) gains after announcing an expanded partnership with Oracle (ORCL)
• Lucid (LCID) lower after naming Silvio Napoli as the next CEO, providing guidance for Q1, and announcing $300M stock offering
• Dow Inc. (DOW) falls after naming Karen Carter will become CEO

5. EARNINGS/GUIDANCE:

• Rent The Runway (RENT) reported Q4 results and provided guidance for Q1 and FY26
• Albertsons (ACI) reported Q4 results, with EPS beating consensus
• Unity Bancorp (UNTY) reported Q1 results, with CEO James Hughes commenting, “We are pleased to report another strong quarter for Unity Bancorp, highlighted by solid profitability”
• BlackRock (BLK) reported Q1 results, with EPS and revenue beating consensus
• Blaize (BZAI) provided guidance for Q1 and backed its guidance for FY26

INDEXES:

Near midday, the Dow was up 0.64%, or 307.40, to 48,525.65, the Nasdaq was up 1.66%, or 385.56, to 23,569.30, and the S&P 500 was up 1.02%, or 70.35, to 6,956.59.