Stock Market News — page 27

FedEx reports fiscal Q4 results on June 23, its first quarter after spinning off its freight division on June 1; analysts expect adjusted EPS near $5.80-$5.90 on about $24 billion in revenue, with cost cuts and the network overhaul in focus against an uncertain economic backdrop.

Robinhood is cutting about 290 jobs, roughly 10% of its workforce, to flatten management layers — a move CEO Vlad Tenev framed as proactive given record June trading volumes, with about $28 million in Q2 restructuring charges, even as the brokerage keeps hiring selectively.

Knight-Swift Transportation shares fell roughly 10% this week, retreating from near 52-week highs after Citigroup downgraded the trucking giant to Neutral on valuation following a ~50% year-to-date run — a sharp pullback that tests how much of an anticipated 2026 freight-cycle recovery is already priced in.

Berkshire Hathaway has agreed to buy national homebuilder Taylor Morrison for $72.50 a share, about $8.5 billion including debt and a 24% premium — one of the first major deals under new CEO Greg Abel, deepening the conglomerate's long-term bet on US housing. The all-cash deal is expected to close in late 2026.

Fox Corporation shares fell about 25% this week after it agreed to buy streaming-platform maker Roku for $160 a share, or roughly $22 billion, in cash and stock — a deal that pairs Fox's live sports and news with Roku's connected-TV reach but has rattled investors wary of the price, debt and dilution.

Nio is under renewed pressure as China's car market contracts and an EV price war grinds on; CEO William Li warned 2026 retail sales could fall 15-20%, with NEV sales down 8% in early June and 15% year-to-date even as penetration hits records — leaving the BEV-only, export-light maker exposed.

A filing shows Stellantis owns a 9.5% stake in solid-state battery developer Factorial Energy, acquired by converting earlier investments at Factorial's June 5 public-market debut, with a board seat — deepening its bet on next-gen EV batteries days after road tests began in a Dodge Charger Daytona.

Nasdaq reports Elon Musk’s SpaceX targets $1 trillion in revenue by 2030, while CNBC notes the company’s post-debut stock activity and the scale of Musk’s stake

Canadian space technology group MDA Space to purchase Blue Canyon Technologies from Raytheon Technologies for $620 million in cash, broadening its spacecraft capabilities.

European and Asian shares turned cautious and US futures eased as uncertainty around US-Iran peace talks and a US holiday reduced trading conviction.

Indian technology shares fell sharply after Accenture lowered its revenue guidance, renewing concerns about demand and growth in the sector.

Pfizer fell after a CFO transition announcement prompted investors to reassess leadership continuity and the company’s visibility into its 2026 outlook.

Shares of SpaceX fell after an initial surge following the company’s IPO, signaling that the early rush of investor demand is easing.

Nasdaq said SpaceX has joined a small group of mega-cap names valued at $2 trillion or more, while CNBC reports the stock was also among the names drawing analyst attention and premarket movement.

HIVE Digital’s stock climbed after the company announced a $220 million GPU cloud agreement tied to Canada’s AI infrastructure buildout.

KBW upgraded CME Group after reports it will sue the CFTC over bitcoin perpetual futures, arguing concerns around the products are overstated.

Pfizer said finance chief Dave Denton will leave on August 15 for an opportunity outside pharmaceuticals, with Cecile Guegan set to serve as interim CFO.

Commerce Department data showed U.S. business inventories increased in April as expected, while sales growth moderated and the inventory-to-sales ratio edged lower.

A National Association of Realtors report showed U.S. pending home sales increased sharply in May, outpacing expectations after April’s reading was revised lower.

The footwear company is moving further away from shoes and into AI infrastructure, while naming a former AWS executive as chief executive and sending shares sharply higher.

BitGo’s stock climbed after the company announced a $50 million share repurchase program, even as the shares remained about 65% below their IPO price amid weaker crypto sentiment.

U.S. retail sales rose far more than expected in May, with broad measures of spending also beating forecasts in a Commerce Department report.

Diana Shipping raised its offer for the rest of Genco Shipping, sparking a jump in Genco shares as investors weighed the revised acquisition proposal.

BMW’s lowered profit outlook rattled European auto shares, with investors also focusing on weaker demand in China and the fallout from the Middle East war.

BMW lowered its fiscal outlook after citing softer demand in China, the impact of Middle East conflict and a one-time charge, sending its shares lower in trading.

Snap fell sharply after unveiling its $2,195 SPECS augmented-reality glasses, as investors assessed the company’s push beyond smartphones.

Reports said Elon Musk’s SpaceX has agreed to acquire Anysphere, the maker of Cursor, in a $60 billion all-stock transaction that would fold the AI startup into the company.

SpaceX has agreed to buy Cursor, an AI coding startup, in a deal reported at $60 billion after a prior agreement gave it the option to do so.

Asian equities traded unevenly on Tuesday as investors weighed disappointing China data, a fading relief rally tied to the U.S.-Iran preliminary deal, and caution ahead of central bank meetings.

Dave & Buster’s Entertainment reported first-quarter earnings that showed lower profit than a year earlier, and the stock moved lower after the release.