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CTS Corporation Appoints Pratik Trivedi as CEO

CTS Corporation announced that its board of directors has promoted Pratik Trivedi, CTS' current COO, to CEO and president effective July 6. Trivedi will succeed Kieran O'Sullivan, who will remain on the board and serve as executive chair. Trivedi will become a member of the board when his appointment as CEO becomes effective. O'Sullivan will transition to the executive chair position after 14 years as CEO.

Major U.S. Averages Close Slightly Lower, Nasdaq Edges Up

The major averages closed slightly lower, with the exception of a small rise in the Nasdaq, as oil prices surge once again as the U.S. blockade of Iranian ports continues. Markets trended even lower after the U.S. Federal Reserve left the federal funds rate unchanged at 3.50%-3.75%, with the central bank voting in a divided matter. Commenting on the decision, Fed chair Jerome Powell said that inflation remains elevated and that conflict in the Middle East adds a "high level of uncertainty" about the economic outlook. Additionally, Powell said he plans to continue to serve as a Fed governor until the U.S. Department of Justice's investigation is "well and truly over."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Seagatereportedand provided an upbeat outlook for Q4Starbucksprovided areport for Q2Bookingreportedand provided guidance for Q2 and FY26Visareportedand provided its outlook for Q3 and FY26Robinhoodreported2. WALL STREET CALLS:T-Mobileto Outperform at OppenheimerSpotifyto Buy at RosenblattBofAMolina Healthcareand Centeneto Buy from Underperform to Buy from Underperform and raised Elevance Healthto Buy from Neutral on the view that Medicaid margins are likely bottoming in 2026William BlairQualys, Tenableand Rapid7, citing a "sobering view" of the current investor mindset on software companiesJPMorganBrown-Formanto Underweight after the company terminated its merger talks with Pernod Ricard3. AROUND THE WEB:PayPalis separating Venmo into a standalone segment, CNBC reportsAppleintends to embed AI even further into the iPhone's camera app, adding a new Siri mode alongside the standard photo and video options in its upcoming iOS 27, Bloomberg reportsBerkshire Hathawayand Chubbhave received approval to exclude AI-related damages from standard liability policies, with regulators approving most requests, The Information reportsFollowing Q1 results, Eli Lillyinvestors will be searching for insight into the launch of weight-loss pill Foundayo, Reuters reportsUberhas added hotel booking functionality within its app through a partnership with Expediaexpanding its push toward becoming a broader "super app" beyond transportation, NY Times says4. MOVERS:KalVistagains after entering anby Chiesi for $27 per share in cashSilicon Motionincreases in New York afterand providing guidance for Q2NXP Semiconductorsand Bloom Energyhigher in New York afterTeradyneand O-I Glasslower afterand providing guidance for Q2GE Healthcarefalls afterand announcing updates to its executive leadership5. EARNINGS/GUIDANCE:AbbVie, raised its guidance for FY26, and provided its outlook for Q2CTS Corporationand raised its guidance for FY26Federal Signal, with EPS and revenue beating consensusAmphenol, with CEO Adam Norwitt commenting, "We are pleased to have closed the first quarter of 2026 with record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance"Emcorand raised its guidance for FY26, with CEO Tony Guzzi commenting, "We started the year well, with record quarterly revenues and strong operating performance"INDEXES:The Dow fell 280.12, or 0.57%, to 48,861.81, the Nasdaq gained 9.44, or 0.038%, to 24,673.24, and the S&P 500 declined 2.85, or 0.040%, to 7,135.95.