Oracle reports Q4 beat, BioNTech to acquire CureVac: Morning Buzz

The major averages were mixed near noon with the Dow the laggard as a pullback in Boeing weighs on the Industrials index. U.S. initial jobless claims were unchanged at 248,000 in the week ended June 7, above expectations and holding at an eight-month high.

Geopolitical concerns have also resurfaced; escalating tensions in the Middle East led to a sharp rise in oil prices and triggered safe-haven flows, which weighed on equities and the U.S. dollar. Meanwhile, U.S.-China trade progress continues to evolve as framework agreements on rare-earths and other areas are offering cautious optimism, though a lack of detailed commitments keeps investors wary.

Looking to commodities, gold prices are sharply higher, hovering around the $3,400 mark amid continued global trade uncertainty. Additionally, oil prices are mostly flat following multiple days of gains. 

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• An Air India flight on a Boeing (BA) 787 aircraft crashed shortly after take-off from Ahmedabad, sending Boeing’s shares lower along witht suppliers GE Aerospace (GE) and Spirit Aerosystems (SPR)
• Oracle (ORCL) provided a “beat and raise” report for Q4
• BioNTech (BNTX) agreed to acquire CureVac (CVAC) in an all-stock transaction
• Micron (MU) and the Trump administration announced Micron’s plans to expand its U.S. investments to roughly $150B in domestic memory manufacturing and $50B in R&D
• Chime (CHYM) is indicated to open at $45 after its IPO was priced at $27 per share

2. WALL STREET CALLS:

• Conagra Brands (CAG) downgraded to Underperform at BofA on protein cost headwinds
• TD upgraded Tapestry (TPR) to Buy on continued Coach momentum
• Ouster (OUST) downgraded to Neutral at Cantor Fitzgerald
• Wolfe upgraded Datadog (DDOG) to Outperform on AI growth opportunity
• Joby Aviation (JOBY) downgraded to Neutral at Cantor Fitzgerald on valuation

3. AROUND THE WEB:

• AWS (AMZN) is preparing to revamp its AI cloud service, Bedrock, making it easier for businesses to use a wider array of AI models, The Information says
• Moderna (MRNA) is in discussions with large drugmakers and financial firms to get funding for some late-stage vaccine trials as it works to develop its product portfolio while cutting costs, Bloomberg reports
• Roche (RHHBY) CEO Thomas Schinecker says that President Trump’s executive order seeking to tie U.S. drug prices to those abroad could impact future investment in America, WSJ reports
• Tesla (TSLA) has filed a lawsuit against former Optimus engineer Zhongjie “Jay” Li, who worked at Tesla from 2022 to 2024, accusing him of stealing humanoid robot information and setting up a rival startup, Bloomberg says
• Airbus (EADSY) is “cautiously hopeful” it can hit its 2025 target of 820 deliveries despite bottlenecks that have led to 40 completed airframes parked at factories waiting for engines, Reuters says

4. MOVERS:

• Telus Digital Experience (TIXT) gains in New York after Telus (TU) submitted an indication of interest to buy the company for $3.40 per share
• Applied Optoelectronics (AAOI) higher after announcing the first volume shipment of high-speed data center transceivers
• Fortrea (FTRE) increases after naming Anshul Thakral as CEO and announcing a limited-duration stockholder rights plan
• Perpetua Resources (PPTA) lower after announcing a $300M bought deal and $100M private placement
• GameStop (GME) falls after announcing a $1.75B senior notes offering

5. EARNINGS/GUIDANCE:

• Lovesac (LOVE) reported Q1 results and provided guidance Q2 and FY26
• Hooker Furniture (HOFT) reported Q1 results, with EPS higher year-over-year
• Cardinal Health (CAH) raised its outlook for FY25 and provided guidance for FY26
• Prenetics (PRE) reported Q1 results, with CEO Danny Yeung commenting, “The first quarter of 2025 marked an exceptionally strong start for Prenetics”
• HomesToLife (HTLM) reported Q1 results and provided guidance for FY25

INDEXES:

Near midday, the Dow was down 0.05%, or 22.85, to 42,842.92, the Nasdaq was up 0.12%, or 23.04, to 19,638.92, and the S&P 500 was up 0.18%, or 10.78, to 6,033.02.