SURG News & Events

The major averages had a mixed day before the long holiday weekend, with the Dow rising to a record high as traders considered the weaker-than-expected U.S. nonfarm payrolls for June and what it might mean for the path of rates. Meanwhile, the Nasdaq fell amid continued pressure on technology and semiconductor names. Chip stocks have experienced a notable pullback to begin the second half of the year, suggesting traders are taking profits after a strong run.Looking to the jobs report, the U.S. economy added 57,000 jobs in June, well below forecasts of 110,000 and a downwardly revised 129,000 in May. The unemployment rate dropped to 4.2% in June, down from 4.3% in May, as many people left the workforce.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has discussed giving the U.S. government a 5% stake in the company,Alphabethasof a EUR4.1B Android fine in EuropeTeslareported, beating expectationsRivianand raised its FY26 vehicle delivery forecastAppleis preparing a new iPad Pro and redesigned entry-level MacBook Pro for 2027,2. WALL STREET CALLS:DAPalantirto Buy, sees "gift" at current levelsAdobeto Buy at HSBCWolfeChevronto Outperform, sees "opportunistic" entry pointSkyWestto Neutral at Goldman SachsCanaccordInfleqtionat Buy, sees 70% upside3. AROUND THE WEB:Microsoftis merging its consumer and enterprise versions of its Copilot AI chatbot, The Information reportsAmazonwill begin internet services this year after its latest satellite launch, Bloomberg reportsSoftBankhas resumed discussions with lenders for a $10B loan backed by its stake in OpenAI, offering a repayment guarantee to address concerns over valuing private-company shares and reduce lenders' collateral risk, Reuters saysThe U.S. National Highway Traffic Safety Administration, NHTSA, closed a 2022 preliminary evaluation of 695,000 Teslavehicles over unexpected deceleration, citing less incidents and low hazard to drivers, Reuters saysAnthropic has started early-stage work on its own AI chip and has held talks with Samsungas a potential manufacturing partner, The Information says4. MOVERS:SurgePayssoared afterwith one of its wholesale wireless network providersAeroVironmentgained afterKratos Defensewas higher after beingfor a new air defense missile systemOusterwas lower after filing anArbor Realtyfell after Piper Sandlerits price target on the stock5. EARNINGS/GUIDANCE:APi Groupraised itsLindsay, with EPS and revenue beating consensusNational Beveragereported, with EPS and revenue lower year-over-yearGreenbrierand narrowed its guidance for FY26American Eaglebacked itsand FY26INDEXES:The Dow rose 594.83, or 1.14%, to 52,900.07, the Nasdaq lost 207.36, or 0.80%, to 25,832.67, and the S&P 500 advanced 0.010, or 0.00013%, to 7,483.24.

Stock futures were mostly lower, continuing Wednesday's declines as markets gauged the likelihood of a Fed rate hike this year and how much room is left on the AI trade. Markets kicked off the second half of 2026 with a bit of a cautious tone after a powerful second-quarter rally. Semiconductor names such as Micron, SanDisk, Nvidia, and Broadcom slid to start the quarter after their massive year-to-date rallies as investors took some profits and rotated to other areas.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -National Beverageup 6.1%ALSO HIGHER -SurgePaysup 58.7% after it amended a pact with a wholesale wireless network providerLOWER AFTER EARNINGS -Franklin Coveydown 18.8%ALSO LOWER -American Eagledown 1.2% after naming Ravi Thanawala its next CFO and reiterating its guidance for Q2 and FY26

SurgePays announced an amended agreement with one of its wholesale wireless network providers. The company said the amendment modernizes the company's wholesale pricing structure and enhances the economics of subscriber growth. Going forward, the amendment is expected to reduce both customer acquisition and recurring subscriber costs through improved wholesale pricing. Additionally, the amendment removes the company's previous minimum purchase commitments an aggregate minimum spend of $50M over the initial three-year term resulting in the elimination of the related contingent liability from the company's balance sheet. As part of the amendment, the network provider has also adjusted previously invoiced non-usage based amounts. This adjustment is expected to reduce the company's accounts payable by approximately $10.3M and result in a corresponding gain of approximately $8.5M relating to expenses previously reported for the three months ended March 31 with a favorable impact on the company's net income and stockholders' equity in the period the modification takes effect.

SurgePays has engaged BrandRap, a Irvine, California-based artificial intelligence and operations consultancy, to build a real-time AI decisioning engine to drive higher revenue per subscriber on ProgramBenefits.com. The company said, "The Company expects Phase 1 production delivery of the build-out for July 2026 with key technology features: Multi-product monetization per session - eligibility, conversion probability, and ranked next-best-action returned across multiple verticals in a single consumer session. Reduced customer acquisition cost - incremental revenue from existing ProgramBenefits.com traffic, not additional acquisition spend. Fed by ProgramBenefits.com intake - the engine scores verified subprime consumer intent data captured at the top of the ProgramBenefits.com funnel, where SurgePays already owns the customer relationship. Ranked next-best-action - the engine prioritizes the highest-probability, highest-margin offer per session rather than a static funnel. Verified intent data as the input - scoring is built on verified subprime consumer intent data already flowing through the SurgePays stack."