Midday Fly By: Boeing, AT&T report Q1 beats

The major averages were broadly higher near noon following the announcement that the U.S. will extend its ceasefire with Iran indefinitely. Traders even appear to be shrugging of comments from President Trump that Iran’s government is “seriously fractured,” along with news that Vice President JD Vance has paused his trip to Pakistan for peace talks. As equities rise, there are already reports of renewed tensions in the Strait of Hormuz and continued disruptions to shipping, which is keeping oil prices elevated.

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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:

• Boeing (BA) reported better-than-expected Q1 earnings and revenue
• AT&T (T) reported upbeat Q1 results and reiterated its FY26 earnings guidance
• Alibaba (BABA) and Tencent (TCEHY) are in talks to invest in DeepSeek, The Information reports
• Elon Musk’s SpaceX said it has the (PLTR) and the USDA signed a $300M blanket purchase agreement

2. WALL STREET CALLS:

• Wells Fargo (ABNB) to Overweight on “significant business inflection”
• BofA (TWLO) to Buy from Underperform
• Biogen (BIIB) upgraded to Buy at UBS
• Zscaler (ZS) downgraded to Equal Weight at Morgan Stanley
• Barclays (PRU) to a sell-equivalent rating amid “too many headwinds”

3. AROUND THE WEB:

• Callisto Research says it is short Sportradar (SRAD), “a self-styled ‘Sports Integrity’ leader with ties to illegal gambling, sanctioned parties, criminals, and a completely fake regulator.”
• Robinhood’s (HOOD) venture fund is investing $75M in OpenAI, signaling a reconciliation after last year’s dispute over Robinhood’s tokenized “access” to OpenAI shares, which OpenAI publicly disavowed, NY Times says
• Inhibrx Biosciences’ (INBX) INBRX-106 cancer drug is drawing interest from Merck (MRK) and Japan’s Ono Pharmaceuticals, Reuters reports
• After Bloomberg reported yesterday, citing sources, that Deutsche Telekom (DTEGY) is considering a full combination with T-Mobile (TMUS), CNBC’s David Faber said his sources call such speculation “way ahead of itself” and that there is “nothing imminent at all” regarding any type of such deal
• Micron (MU) is pushing U.S. lawmakers to pass the “MATCH Act,” which would tighten export restrictions on chipmaking equipment used by Chinese semiconductor firms and close gaps in existing controls, Reuters says

4. MOVERS:

• GE Vernova (GEV) increases after reporting Q1 results and raising its guidance for FY26
• Kopin (KOPN) higher after being awarded a $3.2M initial order for optic modules
• Rogers Communications (RCI) gains in New York after reporting Q1 results, backing its guidance for FY26, and declaring a C$0.50 per share quarterly dividend
• Calix (CALX) lower after reporting Q1 results and providing guidance for FY26
• Sonoco (SON) and TE Connectivity (TEL) fall in New York after reporting quarterly results

5. EARNINGS/GUIDANCE:

• NVR (NVR) reported Q1 results, with EPS and revenue missing consensus
• Stifel (SF) reported Q1 results, with EPS beating consensus
• Moody (MCO) reported Q1 results and reaffirmed its guidance for FY26
• Masco (MAS) reported Q1 results, with CEO Jon Nudi commenting on “strong first quarter operating results in an extremely dynamic environment”
• Teledyne (TDY) reported Q1 results and raised its guidance for FY26

INDEXES:

Near midday, the Dow was up 0.68%, or 333.97, to 49,483.35, the Nasdaq was up 1.27%, or 307.88, to 24,567.84, and the S&P 500 was up 0.81%, or 57.01, to 7,121.02.