Morning Movers: Udemy and Coursera jump following merger agreement

Stock futures are trading with a positive lean this morning as markets try to stabilize after a run of mixed sessions. Traders are attempting to shake off recent headline-driven volatility and weigh the implications of softer U.S. jobs data and upcoming inflation readings. The mixed mood reflects continued debate about the Federal Reserve’s future policy path even as commodity prices, especially oil, are pushing higher due to geopolitical headlines.

Energy markets are notable, with oil climbing following a U.S. order to block sanctioned Venezuelan tankers, a development that has lifted energy stocks and contributed to broader risk-asset support. Silver and gold have also moved higher as precious metals benefit from expectations of easier monetary policy and ongoing economic uncertainty. 

In pre-market trading, S&P 500 futures rose 0.24%, Nasdaq futures rose 0.26% and Dow futures rose 0.20%.

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

HIGHER –

• Udemy (UDMY) and Coursera (COUR) up 28% and 12%, respectively, after the companies announced that they have entered into a definitive agreement to combine in an all-stock transaction
• Hut 8 (HUT) up 19% after announcing a partnership with Anthropic and Fluidstack to accelerate the deployment of hyperscale AI infrastructure in the United States
• Netflix (NFLX) up 1% after the Warner Bros. Discovery (WBD) board sent a letter to shareholders saying Netflix’s deal terms are superior to the bid from Paramount
• Amazon (AMZN) up 1% after Reuters reported that the company is in discussions with OpenAI to potentially invest about $10B in the ChatGPT maker

LOWER – 

• Paramount Skydance (PSKY) down 2% after the Warner board sent a letter to shareholders saying Netflix’s deal terms are superior to the bid from Paramount

UP AFTER EARNINGS –

• Jabil (JBL) up 6%
• Natuzzi (NTZ) up 4%
• ABM (ABM) up 2%
• General Mills (GIS) up 1%

DOWN AFTER EARNINGS –

• Spire Global (SPIR) down 22%
• Worthington (WOR) down 9%