Morning Movers: Informatica and Salesforce gain after $8B transaction

Stock market futures are rallying as investor sentiment improves following a delay in U.S. tariffs on European Union imports. President Donald Trump postponed the planned 50% tariffs until July 9, providing a temporary reprieve that has helped reverse some of last week’s losses, which had been driven by credit rating concerns and rising fiscal anxiety. U.S. futures opened the pre-market trading session higher coming off the long holiday weekend and have continued to climb throughout the morning.

The Federal Reserve’s meeting minutes, due later this week, will be closely watched for clues about the central bank’s approach to inflation and interest rates in the face of geopolitical uncertainty. Overall, the market appears cautiously optimistic, with relief over trade news tempering concerns about the country’s longer-term economic trajectory.

In pre-market trading, S&P 500 futures rose 1.28%, Nasdaq futures rose 1.40% and Dow futures rose 1.15%.

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

HIGHER –

• Informatica (INFA) and Salesforce (CRM) up 6% and 1%, respectively, after the companies announced an agreement for Salesforce to acquire Informatica for approximately $8B in equity value, or $25 in cash per share

UP AFTER EARNINGS –

• Evaxion Biotech (EVAX) up 1%

DOWN AFTER EARNINGS –

• PDD Holdings (PDD) down 18%
• Champion Homes (SKY) down 7%
• BioLineRx (BLRX) down 4%
• AutoZone (AZO) down 1%
• Scotiabank (BNS) down 1%

LOWER –

• Rocket Pharmaceuticals (RCKT) down 63% after announcing a patient participating in the Phase 2 pivotal trial of RP-A501 experienced an unexpected serious adverse event