Morning Movers: LiveRamp jumps following pact to be acquired by Publicis

Stock futures have been bouncing between slightly lower and higher as surging oil prices, rising bond yields and renewed geopolitical tension in the Middle East weigh on the AI-driven rally that has dominated the year so far.

The 30-year Treasury yield climbed above 5.15%, its highest level since before the 2008 financial crisis, while the 10-year Treasury yield rose toward 4.65%. Investors are increasingly worried that inflation is becoming entrenched due to energy prices, persistent fiscal deficits and resilient economic demand. Markets are now pricing in a meaningful possibility that the Federal Reserve could raise rates again later this year instead of cutting them.

Brent crude traded above $110 a barrel after fresh drone attacks reportedly struck infrastructure tied to a UAE nuclear facility, intensifying fears about broader disruption in the Strait of Hormuz. Traders are increasingly concerned about the risk of sustained supply constraints at a time when global inventories are already tight.

Semiconductor and mega-cap tech stocks remain the market’s leadership group, but investors are becoming more sensitive to valuations as borrowing costs rise. Analysts are increasingly debating whether AI enthusiasm has become excessive, particularly given the massive capital spending required to sustain the boom. Investors are closely watching results from Nvidia for insight into AI infrastructure demand, while reports from Walmart and Home Depot will offer a read on the health of the consumer amid rising gasoline and borrowing costs.

In pre-market trading, S&P 500 futures rose 0.25%, Nasdaq futures gained 0.55% and Dow futures advanced 0.12%.

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

HIGHER –

• LiveRamp (RAMP) up 27% after Publicis (PUBGY) entered into an agreement to acquire the company for a total enterprise value of $2.2B
• Dominion (D) up 14% after NextEra Energy and the company announced that they have entered into a definitive agreement to combine in an all-stock transaction
• Bio-Rad Laboratories (BIO) up 8% after The Wall Street Journal reported activist investor Elliot Investment Management has built a big stake in the company
• Ford (F) up 6% after the company and EDF Group announced the signing of a five-year framework agreement under which EDF power solutions will have the ability to procure up to four gigawatt hours of DC Block battery energy storage systems annually, representing a total potential volume of up to 20 GWh over the term of the agreement
• Macy’s (M) and Delta Air Lines (DAL) up 3% and 2%, respectively, after Berkshire Hathaway disclosed new positions in the companies

UP AFTER EARNINGS –

• Baidu (BIDU) up 5%
• Brady (BRC) up 5%

DOWN AFTER EARNINGS –

• Gossamer Bio (GOSS) down 16%
• Pioneer Power (PPSI) down 7%
• iQiyi (IQ) down 2%
• Soluna Holdings (SLNH) down 2%

LOWER –

• Regeneron (REGN) down 11% after reporting its fianlimab trial did not meet the primary endpoint
• NextEra Energy (NEE) down 1% after the company and Dominion (D) announced that they have entered into a definitive agreement to combine in an all-stock transaction