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U.S. Stocks Rise as Middle East Tensions Ease, Oil Prices Drop 5%
The major averages began the week and the month with a winning session as easing tensions in the Middle East sent oil prices sharply lower. Oil prices dropped about 5% after President Trump said on Sunday that he canceled a planned attack on Iran, adding that negotiations between the two sides would resume Monday. The news follows U.S. media reports late last week that Trump was preparing a new wave of strikes on Iranian infrastructure.Meanwhile, earnings season remains a catalyst, with investors awaiting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AstraZenecais in talks to combine with Bristol Myersfor $400B,Sonyand Disney's"Spider-Man: Brand New Day" has reportedly generated thethis year and the second highest in Hollywood historyIntegerby KKRin a $5.7B transactionCuriumLantheusfor up to $114.50 per shareAmazonhit a new all-time high to start the week, with its2. WALL STREET CALLS:Circle Internetto Underweight at Morgan StanleyMeliusStarbucksto Hold following last week's earnings reportBest Buywith an Underperform at BofATruistCorningto Buy on recent share pullbackeBayto Underweight at Wells Fargo3. AROUND THE WEB:N-ableis urging customers to immediately patch an actively exploited N-central authentication bypass vulnerability, BleepingComputer reportsMicrosoftis raising prices of Xbox Series X/S consoles in the U.K. and Europe, Verge reportsChina's Alibabaon Monday unveiled its largest and most capable AI model to date, sending its shares surging, while a research firm said DeepSeek's latest product offers cut-throat pricing that is more than 100 times cheaper than Anthropic's Claude Fable 5, Reuters reportsAppleis facing an unusual MacBook Air supply shortage due to industrywide memory constraints, leading to longer delivery times, selective price increases, and efforts to secure additional memory supply while prioritizing other Mac models, Bloomberg saysChevronand Exxon Mobilhave warned high fuel prices will likely remain even as oil prices drop, since the wars in Russia and the Middle East have left global refining capacity short, Bloomberg reports4. MOVERS:Atkoreincreased afterand announcing it will be acquired by Prysmian for $95 per share in cashFergusonwas higher after beingElectronic Artsin the S&P 500 at open on August 5CNH Industrialgained in New York afterand providing guidance for FY26Sportsradarfell in New York afterand cutting its guidance for FY26GameStopwas lower after exchanging $1.4B of5. EARNINGS/GUIDANCE:Sally Beautyand narrowed its guidance for FY26Indiviorand raised its outlook for FY26 along with announcing its merger agreement with Supernus PharmaceuticalsMarriott, provided guidance for Q3, and raising its outlook for FY26Trane, with CEO Dave Regnery calling it "another outstanding quarter"Loews, with EPS and revenue higher year-over-yearINDEXES:The Dow rose 693.38, or 1.32%, to 53,178.41, the Nasdaq gained 540.04, or 2.13%, to 25,913.90, and the S&P 500 advanced 110.78, or 1.48%, to 7,600.50.
Amazon's Market Cap Surpasses $3 Trillion
The major averages were sharply higher near noon, with traders approaching the new month with a sense of optimism as easing tensions in the Middle East sent oil prices sharply lower. Technology shares are helping lead the gains as investors look ahead to another busy week of corporate earnings and economic data. Of note, Amazon's market cap surpassed the $3T mark to start the week.Oil prices dropped over 6% after President Trump said on Sunday that he canceled a planned attack on Iran, adding that negotiations between the two sides would resume Monday. The news follows U.S. media reports late last week that Trump was preparing a new wave of strikes on Iranian infrastructure.Meanwhile, earnings season remains a catalyst, with investors awaiting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AstraZenecais in talks to combine with Bristol Myersfor $400B,Sonyand Disney's"Spider-Man: Brand New Day" has reportedly generated thethis year and the second highest in Hollywood historyIntegerby KKRin a $5.7B transactionCuriumLantheusfor up to $114.50 per shareAmazonhit a new all-time high to start the week, with its2. WALL STREET CALLS:Circle Internetto Underweight at Morgan StanleyMeliusStarbucksto Hold following last week's earnings reportBest Buywith an Underperform at BofATruistCorningto Buy on recent share pullbackeBayto Underweight at Wells Fargo3. AROUND THE WEB:China's Alibabaon Monday unveiled its largest and most capable AI model to date, sending its shares surging, while a research firm said DeepSeek's latest product offers cut-throat pricing that is more than 100 times cheaper than Anthropic's Claude Fable 5, Reuters reportsAppleis facing an unusual MacBook Air supply shortage due to industrywide memory constraints, leading to longer delivery times, selective price increases, and efforts to secure additional memory supply while prioritizing other Mac models, Bloomberg saysChevronand Exxon Mobilhave warned high fuel prices will likely remain even as oil prices drop, since the wars in Russia and the Middle East have left global refining capacity short, Bloomberg reportsWhile Novo Nordiskinvestors have been minimally optimistic about the two-year period of profit warnings, leadership upheaval, and share price slide as rival Eli Lillystreaked ahead, the company is now getting a boost from its new Wegovy weight-loss pill keeping its lead against Lilly's recently launched Foundayo, Reuters reportsOpenAI has found other instances of autonomous agents escaping as the company expands its investigation of the hacking incident at Hugging Face, Reuters says4. MOVERS:Atkoreincreases afterand announcing it will be acquired by Prysmian for $95 per share in cashFergusonhigher after being set to replace Electronic Artsin theat open on August 5CNH Industrialgains in New York afterand providing guidance for FY26Sportsradarfalls in New York afterand cutting its guidance for FY26GameStoplower after exchanging $1.4B offor equity5. EARNINGS/GUIDANCE:Sally Beautyand narrowed its guidance for FY26Indiviorand raised its outlook for FY26 along with announcing its merger agreement with Supernus Pharmaceuticals (SUPN)Marriott, provided guidance for Q3, and raising its outlook for FY26Tranewith CEO Dave Regnery calling it "another outstanding quarter"Loews, with EPS and revenue higher year-over-yearINDEXES:Near midday, the Dow was up 558.90, or 1.06%, to 53,043.93, the Nasdaq was up 488.92, or 1.93%, to 25,862.77, and the S&P 500 was up 95.62, or 1.28%, to 7,585.34.
Stock Futures Rise as Investors Improve Risk Appetite
Stock futures are higher as investors begin a new month with improving risk appetite after easing tensions in the Middle East sent oil prices sharply lower. Technology shares are helping lead the gains as investors look ahead to another busy week of corporate earnings and economic data.Geopolitical developments are driving sentiment after President Donald Trump announced a pause in military strikes against Iran and renewed diplomatic efforts aimed at reopening the Strait of Hormuz. Brent crude has fallen roughly 5% and U.S. crude has dropped below $80 per barrel. Treasury yields have also moved lower as investors scale back expectations for additional inflationary pressure from energy markets.Earnings season remains a catalyst, with investors awaiting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing. Recent results from Microsoft and Amazon have helped restore confidence in the AI trade, though investors remain sensitive to signs of rising capital expenditures and slowing returns on AI investments.Looking ahead, investors will monitor this week's economic calendar for fresh insight into the health of the U.S. economy. Friday's July employment report is expected to provide an important update on labor market conditions and could influence expectations for future Federal Reserve policy.In pre-market trading, S&P 500 futures rose 0.60%, Nasdaq futures rose 0.19% and Dow futures rose 1.20%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Atkoreup 28% after entering into a definitive agreement to be acquired by Prysmian in an all-cash transaction representing an enterprise value of approximately $3.8BFergusonup 8% ahead of its entry into the S&P 500Supernusup 15% after the company and Indivior entered into a definitive agreement to combine in a tax-free all-stock merger of equals transactionIndiviorup 4% after Supernus and the company entered into a definitive agreement to combine in a tax-free all-stock merger of equals transactionBristol Myersup 3% after Financial TimesAstraZenecais in discussions to combine with the company in a deal valued at nearly $400BDOWN AFTER EARNINGS -Sportradardown 17%Krystal Biotechdown 5%Marriottdown 2%LOWER -AstraZenecadown 7% after Financial Timesthe company is in discussions to combine with Bristol Myers Squibb in a deal valued at nearly $400BCircle Internet (CRCL) down 6% after Morgan Stanley downgraded the stock to Underweight with a price target of $38, down from $106
Supernus and Indivior Enter Merger Agreement
Supernus Pharmaceuticals (SUPN) and Indivior Pharmaceuticals (Nasdaq: INDV) entered into a definitive agreement to combine in a tax-free all-stock merger of equals transaction to create a leading diversified, central nervous system, or CNS, biopharmaceutical company with significant scale. The combined entity will be named Supernus and will be listed on the Nasdaq Global Market under the ticker symbol "SUPN". Upon completion of the transaction, Jack Khattar, Supernus Pharmaceuticals President and CEO, will serve as President, CEO and a member of the Board of Directors of the combined company, and Tony Kingsley, a member of Indivior's Board of Directors, will serve as Board Chair of the combined company. Merger highlights include: Diversified and scaled portfolio of medicines that treat CNS diseases: The combined company will have a commercial portfolio of 11 differentiated medicines across psychiatry, neurology and addiction, with key growth products currently expected to continue growing well into the 2030s; Accelerates profitable growth and cash flow generation: The combined company is expected to generate pro forma net revenue of $2.2B and pro forma adjusted EBITDA of $888M. The combined company's Board is expected to have a total of eight directors, including four directors from Supernus Pharmaceuticals, including Jack Khattar, and four directors from Indivior Pharmaceuticals, including Tony Kingsley as Board Chair. Supernus Pharmaceuticals' headquarters in Rockville, will serve as the combined company's global headquarters following completion of the merger. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Supernus Pharmaceuticals stockholders will receive 1.5401 common shares of Indivior Pharmaceuticals for each share of Supernus Pharmaceuticals they own. Indivior Pharmaceuticals stockholders will receive a one-time special cash dividend of $1.0B in aggregate immediately prior to closing of the merger. To finance the dividend to Indivior Pharmaceuticals stockholders, the companies have secured a debt commitment of $650M through a term loan facility provided by Citibank N.A. with the remaining portion to be funded by existing cash on hand of the combined company. Upon the close of the transaction, Indivior Pharmaceuticals stockholders will own approximately 56.5% of the combined company, and Supernus Pharmaceuticals stockholders will own approximately 43.5% of the combined company, on a fully diluted basis. The transaction is expected to close in the Q4, subject to approval by stockholders of both companies, regulatory approvals and customary closing conditions. Cantor Fitzgerald & Co. is serving as lead financial advisor to Supernus Pharmaceuticals. Wells Fargo also served as an additional financial advisor to Supernus Pharmaceuticals. Saul Ewing is serving as legal counsel to Supernus Pharmaceuticals and Morgan Lewis UK is serving as legal advisors to Supernus Pharmaceuticals with respect to certain Canadian and European Union matters. Jefferies and Piper Sandler & Co. are serving as joint financial advisors to Indivior and Goodwin Procter is serving as legal counsel to Indivior. Citi also provided financial advice to Indivior, and Citibank is providing committed financing in support of the transaction.
Indivior Reports Q2 Revenue of $343M, Raises 2026 Guidance
Reports Q2 revenue $343M, consensus $307.55M. "Exceptional operational execution in Phase II - Accelerate - of the Indivior Action Agenda fueled strong SUBLOCADE performance in the quarter and is the primary driver of our raised 2026 guidance," said Joe Ciaffoni, Chief Executive Officer. "We remain focused on Phase II - Accelerate - for the remainder of 2026 and look forward to closing our proposed merger with Supernus, which is expected in the fourth quarter. Upon the close of our proposed merger, all three Phases of the Indivior Action Agenda will have been successfully completed." "We delivered record SUBLOCADE net revenue and adjusted EBITDA in the quarter leading us to raise our 2026 guidance," said Ryan Preblick, Chief Financial Officer. "We now expect 2026 total SUBLOCADE net revenue growth of 20% year-over-year and adjusted EBITDA growth of 68% year-over-year at the midpoint of our guidance ranges. We returned capital to our shareholders through the repurchase of $175 million in shares during the quarter. We are committed to creating long-term shareholder value."
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