Morning Movers: Warner Bros. rises, Netflix falls after acquisition deal

Stock futures are trading modestly lower following inflation readings that could shape the outlook for Federal Reserve policy. Investor optimism appears rooted in growing expectations that the Fed will cut interest rates later this month as futures markets indicate the odds of a rate cut are seen as high.

Globally, risk sentiment seems relatively stable: European stocks were edging up today as investors anticipated U.S. inflation data and other global markets are tracking cautiously.

In pre-market trading, S&P 500 futures fell 0.10%, Nasdaq futures fell 0.10% and Dow futures fell 0.16%.

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

HIGHER –

• Warner Bros. Discovery (WBD) up 3% after Netflix (NFLX) and the company announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros. following the separation of Discovery

UP AFTER EARNINGS –

• Rubrik (RBRK) up 18%
• Victoria’s Secret (VSCO) up 16%
• Ulta Beauty (ULTA) up 7%
• Cooper Companies (COO) up 1%

DOWN AFTER EARNINGS –

• HP Enterprise (HPE) down 9% after
• SentinelOne (S) down 9% after

LOWER –

• SoFi Technologies (SOFI) down 7% after 54.5M share secondary offering priced at $27.50
• Netflix (NFLX) down 3% after the company and Warner Bros. Discovery announced they have entered into a buyout agreement
• ITT (ITT) down 1% after announcing it has entered into an agreement with Lone Star Funds to acquire SPX Flow for a total consideration of $4.775B in cash and equity