CAR News & Events

Stock futures have weakened ahead of the open, with Nasdaq futures under the most pressure as large-cap growth names and semiconductor stocks remain under strain. Markets are setting up for a risk-off session as investors digest a broad technology selloff, rising concern around AI spending levels and a more hawkish interest-rate backdrop. Investors appear increasingly focused on whether enormous capital spending commitments across AI infrastructure, data centers and chips can justify current valuations.Interest rates are also back in focus. Markets have become more sensitive to the possibility of tighter monetary policy expectations, which tends to hit long-duration growth assets the hardest. Higher rates reduce the present value of future earnings, making richly valued technology stocks especially vulnerable to sentiment shifts.Outside of tech, oil prices have eased as Middle East supply concerns moderated, reducing one of the market's major recent inflation fears. That could potentially provide some support to cyclicals, industrials and consumer sectors if lower energy costs persist.In pre-market trading, S&P 500 futures fell 1.47%, Nasdaq futures fell 3.02% and Dow futures fell 0.49%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Edgewell Personal Careup 10% after Bloombergthe company has rejected an unsolicited acquisition bid from private equity firm Yellow Wood PartnersIBMup 4% after JPMorgan upgraded the stock to Overweight with a price target of $291, up from $270Avis Budgetup 3% after disclosing a settlement and release agreement with Pentwater Capital Management and certain affiliated persons to settle its pending lawsuit against Pentwater for the recovery of short-swing profitsUP AFTER EARNINGS -Korn Ferryup 3%DOWN AFTER EARNINGS -Sunbelt Rentalsdown 5%LOWER -Primorisdown 35% after axing its FY26 outlook and announcing the departure of its COO Jeremy KinchQualcommdown 6% after Bloombergthat the company is in advanced discussions to acquire Modular in a deal valuing the AI chip startup at roughly $4BOracle (ORCL) down 3% after Reutersthe company has reduced its workforce by 21,000 employees as part of a restructuring effortNvidiadown 2% amid broader tech selloffEnergy Fuelsdown 2% after entering a definitive agreement to acquire 100% of Vacuumschmelze, Ara VAC and their respective consolidated subsidiaries from Ara Partners for a total cash-and-stock consideration of approximately $1.9B

Turmoil in the mega-cap tech space and higher interest rates weighed on investor sentiment on Monday as markets returned from an extended weekend.  Six of the seven MAG-7 stocks were down, and even Tesla- the sole gainer - scrambled amid headlines of fatal FSD crashes.  Double-digit decline in SpaceXshares following the company's announcement of a debt offering this morning further weighed on tech-heavy Nasdaq, which finished the day down over 1%.In the opening hours of the evening session, investor sentiment is muted, with S&P 500 futures down to 10 and Nasdaq 100 down 0.3%.  In addition to the headline roulette regarding negotiations over the cost of a safe passage through the Strait of Hormuz, earnings out of Micronon Wednesday evening and PCE inflation data expected out Thursday morning are the key risk events for the week.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Avis Budget Groupup 6.5% after settlement agreement with Pentwater CapitalMurphy Oilup 1.0% after disclosing oil discovery offshore Côte d'IvoireLOWER -Primoris Servicesdown 33.4% after cutting FY26 guidanceDefinium Therapeuticsdown 4.6% after equity offeringMoonLake Immunotherapeuticsdown 3.8% after equity offeringGloo Holdingsdown 2.6% after equity offering

In a regulatory filing, the company said, "On June 19, Avis Budget Group entered into a Settlement and Release Agreement with Pentwater Capital Management LP and certain affiliated persons to settle its pending lawsuit against Pentwater for the recovery of short-swing profits under Section 16(b) of the Securities Exchange Act of 1934. Under the Settlement Agreement, the settlement amount is $650,000,000 in cash. The Settlement Agreement and payment to the company of the Settlement Amount is subject to court approval, including the issuance of an order approving the terms of the settlement agreement and making a finding that, among other things, the company has diligently pursued the claims raised in the Section 16(b) Action and that the Settlement Amount is fair, reasonable and adequate, and other customary conditions."