Morning Movers: Nexstar and Tegna jump following merger deal

Stock futures are mostly softer as traders await signals from the upcoming Jackson Hole symposium and fresh retail earnings.

Global markets reflected cautious optimism as European equities ticked higher, oil prices declined amid hopes for diplomatic progress in Ukraine, and gold gained as the dollar and Treasury yields softened.

In pre-market trading, S&P 500 futures fell 0.06%, Nasdaq futures fell 0.16% and Dow futures rose 0.18%.

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

HIGHER –

• Nexstar (NXST) and Tegna (TGNA) up 7% and 4%, respectively, after announcing that they entered into a definitive agreement whereby, subject to regulatory approvals, Nexstar will acquire all outstanding shares of Tegna for $22.00 per share
• Intel (INTC) up 6% after announcing an agreement under which SoftBank will make a $2B investment in Intel common stock

UP AFTER EARNINGS –

• Home Depot (HD) up 2%
  
• Opera (OPRA) up 4%
• XPeng (XPEV) up 4%

DOWN AFTER EARNINGS –

• Viking Holdings (VIK) down 5%
• Ituran (ITRN) down 4%
• Medtronic (MDT) down 4%
• Amer Sports (AS) down 1%
• Premier (PINC) down 1%

LOWER –

• Viking Therapeutics (VKTX) down 33% after reporting results from the company’s Phase 2 clinical trial of the oral tablet formulation of VK2735