Morning Movers: TripAdvisor jumps after Starboard discloses stake, seeks talks

U.S. stock index futures are moving up a bit after June’s jobs report, which showed that U.S. payrolls increased by a better-than-expected 147,000 last month. Meanwhile, President Trump’s tax megabill, which finally passed the Senate on Tuesday, has returned to the House, where negotiations among Republican lawmakers remain heated.

In pre-market trading, S&P 500 futures were up 0.24%, Nasdaq 100 futures were up 0.29% and Dow futures were up 0.19%.

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

HIGHER – 

• Meta Platforms (META) up 1% after Needham upgraded shares of the Facebook and Instagram parent to Hold
• TripAdvisor (TRIP) up 9% after Starboard Value disclosed a 9% stake and said it plans talks with the company’s management
• Datadog (DDOG) up 10% as the company will replace Juniper Networks (JNPR) in the S&P 500, effective prior to the opening of trading on July 9
• FedEx (FDX) up 2% after being double-upgraded to Outperform at BNP Paribas Exane
• Synopsys (SNPS) up 4% and Cadence Design (CDNS) up 5% after the U.S. lifted export license requirements for chip design software sales in China
• Xponential Fitness (XPOF) up 21% after saying that after cooperating with an SEC probe, the regulator concluded its investigation without action

LOWER – 

• ASML (ASML) down 2% after Nikkei Asia said Samsung (SSNLF) is delaying completion of a semiconductor factory in Texas as the company struggles to find customers for the plant’s output
• Robinhood (HOOD) down 2% after OpenAI said “OpenAI tokens” are not OpenAI equity