Morning Movers: E.W. Scripps surges after report of Sinclair takeover interest

Stock futures decreased modestly this morning as investors turned somewhat more optimistic after recent turbulence.

Nvidia is due to report earnings mid-week, viewed as a barometer for the broader AI and semiconductor rally. That said, the rebound comes with caveats. While the shutdown resolution reduces a major overhang, analysts note that several crucial labor and inflation data points remain missing, leaving the Federal Reserve’s outlook less clear and markets more reliant on company reports and private-sector signals.

Meanwhile, precious metals like gold and silver opened lower, reflecting less refuge buying and hinting that some of last week’s surge in risk assets may be undergoing a consolidation phase.

In pre-market trading, S&P 500 futures fell 0.02%, Nasdaq futures rose 0.04% and Dow futures fell 0.09%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Zymeworks (ZYME) up 36% after reporting topline results from the Phase 3 HERIZON-GEA-01 trial evaluating Ziihera in combination with chemotherapy
• E.W. Scripps (SSP) up 23% after The Wall Street Journal reported Sinclair (SBGI) has accumulated about an 8% stake in the company and is pursuing an acquisition of the local TV broadcaster
• WPP (WPP) up 7% after Bloomberg wrote Havas N.V. has expressed interest in the company
• Alphabet (GOOGL) up 3% after Berkshire Hathaway (BRK.A) revealed a $4.3B stake in the company
• Distribution Solutions (DSGR) up 2% after announcing a $30M increase to its share repurchase program
• Gibraltar Industries (ROCK) up 1% after reaching an agreement to acquire OmniMax International from funds managed by Strategic Value Partners and its affiliates for a cash purchase price of $1.34B

UP AFTER EARNINGS –

• Arbe Robotics (ARBE) up 2%

DOWN AFTER EARNINGS –

• Aramark (ARMK) down 11%
• Immatics (IMTX) down 1%

LOWER –

• Sealed Air (SEE) down 3% after announcing that it has entered into a definitive agreement to be acquired by funds affiliated with CD&R in an all-cash transaction with an enterprise value of $10.3B