Morning Movers: MeridianLink jumps after pact to be acquired by Centerbridge

Stock futures are largely steady this morning, reflecting a cautious mood ahead of key economic releases and geopolitical developments. The markets appear to be pausing after a strong rally, with focus now shifting to inflation data, trade policy decisions, and tech earnings.

Semiconductor giants Nvidia (NVDA) and AMD (AMD) are slipping in early trading after news that both will remit 15% of their AI chip sales revenue from China to the U.S. government in exchange for export licenses. Micron (MU), by contrast, jumped 5.6% premarket after raising its quarterly outlook, buoyed by improving DRAM pricing and solid execution.

Tech-heavy indexes remain resilient, with the Nasdaq notching its 18th record closing high of the year despite concerns over lofty valuations. Tech now makes up a record share of the S&P 500, triggering debate over whether current gains are sustainable or echo bubble-like patterns.

Looking ahead, markets are bracing for Tuesday’s CPI release, which could sway Federal Reserve expectations. In addition, U.S.-China trade talks and this week’s summit between President Trump and President Putin will likely shape both policy and market narratives.

In pre-market trading, S&P 500 futures rose 0.11%, Nasdaq futures rose 0.02% and Dow futures rose 0.19%

Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe to the Fly By if you want to know how the markets will open, which stocks will be moving and why.

HIGHER –

• MeridianLink (MLNK) up 24% after entering into a definitive agreement to be acquired by Centerbridge Partners in a $2B all-cash transaction
• Sapiens (SPNS) up 21% after Calcalist reported the company is in advanced talks with U.S. investment funds over the sale of a controlling stake in the company in a deal valuing the company between $2B and $2.2B
• Rumble (RUM) up 11% after the company informed Northern Data (NDTAF) of its interest in pursuing a potential exchange offer

UP AFTER EARNINGS –

• Sphere Entertainment (SPHR) up 11%
• WW (WW) up 9%
• Perion Network (PERI) up 6%
• Dole (DOLE) up 2%
• Excelerate Energy (EE) up 2%
• AMC Entertainment (AMC) up 1%

DOWN AFTER EARNINGS –

• Aaon (AAON) down 19%
• Monday.com (MNDY) down 18%
• Owens & Minor (OMI) down 5%
• 4D Molecular (FDMT) down 4%
• Barrick Mining (B) down 3%