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Morning Movers: Solar stocks slip after Executive Order to end subsidies

Stock futures are little changed this morning as traders digest mixed signals from Washington amid a push for progress in trade negotiations. President Trump issued new tariff letters to 14 countries, including Japan and South Korea, with rates scheduled for August 1, but the move comes with a window for talks and cautious optimism is helping stabilize sentiment

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In commodities, oil has held steady amid global supply discipline, while the dollar remains firm, weighing on international earnings.

In pre-market trading, S&P 500 futures rose 0.05%, Nasdaq futures rose 0.19% and Dow futures fell 0.16%.

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

HIGHER –

  • Capital One (COF) up 1% after TD Cowen upgraded the stock to Buy with a price target of $258, up from $184
  • Coinbase (COIN) up 1% after announcing Kulr Technology Group secured a $20M credit facility with Coinbase Credit
  • Merit Medical (MMSI) up 3% after Q2 pre-announcement and CEO departure

LOWER –

  • Sunrun (RUN), First Solar (FSLR) and Enphase Energy (ENPH) down 8%, 5% and 4%, respectively, after The White House announced President Donald Trump signed an Executive Order to eliminate subsidies for “unreliable green” energy sources like wind and solar in furtherance of the One Big Beautiful Bill Act
  • Ciena (CIEN) down 4% after Morgan Stanley downgraded shares to Underweight with a price target of $70, down from $73
  • Circle (CRCL) down 3% after Mizuho initiated coverage of the stock with an Underperform rating and $85 price target
  • Datadog (DDOG) down 3% after Guggenheim downgraded shares to Sell with a $105 price target, citing the risk of potential significant optimization by OpenAI

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

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