Midday Fly By: CoreWeave inks Anthropic, TSMC reports March sales bump

The major averages were mixed near noon, with the Dow Jones Industrial Average in the red, the Nasdaq higher and the S&P little changed. Markets are ending the week in a cautious holding pattern, with momentum from earlier in the week fading.

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Oil is creeping higher again, hovering near the $100 per barrel level, as doubts grow around the durability of the Iran ceasefire as disruptions in the Strait of Hormuz persist. Meanwhile, the CPI report showed the sharpest year-over-year price increases for consumers in nearly four years, largely driven by the recent energy shock. Even with a pause in fighting, oil flows remain constrained and supply chains are still disrupted, meaning inflation pressure doesn’t immediately disappear.

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

1. STOCK NEWS:

• CoreWeave (CRWV) entered into a multi-year agreement with Anthropic
• Meanwhile, Anthropic is exploring designing its own AI chips, (TSM) reported a year-over-year increase in March net revenue
• Mumbai-based Sun Pharmaceutical Industries has decided to proceed with a binding offer of $12 B for Organon (OGN), Economic Times reports
• March’s consumer inflation rate accelerated to 3.3% compared to last year, with the consensus expecting 3.4%.

2. WALL STREET CALLS:

• Nike (NKE) downgraded to Neutral at Piper Sandler
• Shake Shack (SHAK) upgraded to Outperform at Mizuho
• ServiceNow (NOW) downgraded to Neutral at UBS
• Citi is “turning more selective” in the application software group with six downgrades, including Autodesk (ADSK) and DocuSign (DOCU)
• IBM (IBM) initiated with a Buy at Citi

3. AROUND THE WEB:

• A rumor of a potential takeover approach regarding CommVault (CVLT) was highlighted in Ben Harrington’s buyout-focused Betaville blog
• YouTube (GOOG) has raised prices for YouTube Premium and Music subscriptions, Variety reports
• Apple (AAPL) plans to shut down its first unionized store in Maryland, Reuters reports
• Conocophillips (COP) will evaluate oil prospects in Venezuela, Bloomberg reports
• Italy is replacing Leonardo (FINMY) chief Roberto Cingolani, Reuters says

4. MOVERS:

• Spire Global (SPIR) rises after Canaccord raised its price target on the shares
• Cars.com (CARS) higher after announcing an increase to its buyback program and an 11% reduction in full-time roles
• Zentalis Pharmaceuticals (ZNTL) gains after Guggenheim raised its price target on the shares
• Fair Isaac (FICO) lower after Barclays cut its price target on the shares
• ProPetro (PUMP) falls after Goldman Sachs initiated coverage of the stock with a Neutral rating

5. EARNINGS/GUIDANCE:

• WD-40 (WDFC) reported upbeat Q2 results and reiterated its FY26 guidance
• Tecnoglasss (TGLS) cut its FY26 adjusted EBITDA outlook
• Beam Global (BEEM) reported FY25 earnings results
• Simulations Plus (SLP) reported upbeat Q2 results and cut its FY26 earnings guidance
• Lotus Technology (LOT) reported a year-over-year decline in Q4 revenue

INDEXES:

Near midday, the Dow was down 0.46%, or 221.08, to 47,964.72, the Nasdaq was up 0.29%, or 65.34, to 22,887.76, and the S&P 500 was down 0.09%, or 5.87, to 6,818.79.