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Major Averages Broadly Lower as Bond Market Pressure Increases

The major averages were broadly lower as investors assess renewed pressure in the bond market and higher oil prices.The 30-year Treasury yield has climbed back above 5.2%, near its highest level in roughly two decades, as investors worry about rising government debt and persistent inflation pressures. The Treasury moved to double its purchases of longer-dated government bonds, helping yields pull back from their recent highs, although the move does not address the underlying fiscal concerns driving the selloff.Oil is adding to the inflation concerns, with Brent crude rising for a fifth consecutive session as tensions surrounding Iran and the Strait of Hormuz remain unresolved. President Donald Trump vowed "economic warfare" on Iran and penalties for its supporters, as the United Arab Emirates reported it was ceasing trade with Tehran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Walmartprovided areport for Q2Alibabareportedbut upbeat revenueDeerereportedand narrowed its FY26 net income guidancePresident Donald Trump asked Congress to pass the Clarity Act, arguing the legislation is a top priority for the industry and is critical to keeping the U.S.'s edge in emerging technologies,Anthropic anticipates matching or even surpassing the size of SpaceX'srecord-setting IPO as plans for the AI firm's public debt pick up speed,2. WALL STREET CALLS:BofAEtsyto Buy from NeutralSeaport ResearchAnalog Devicesto Buy from NeutralRBCMerckon 'unprecedented valuation' after vaccine dataAllstateto Underperform from Market Perform at Keefe BruyetteCitiCactusto Neutral on valuation after rally3. AROUND THE WEB:The NFL's Atlanta Falcons are in talks to sell a 10% interest in the team to KKR'sArctos Partners, Bloomberg reportsVirtu Financialis considering a sale of its agency brokerage and technology division, Bloomberg saysYouTubeis offering millions of dollars to popular channels on its platform if they upload videos exclusively to the site for a period of time, Bloomberg reportsOpenAI CFO Sara Friar told employees that the AI lab "will be a public company in 2027," CNBC reportsAustralia recently passed legislation that would force tech giants, including Meta, Google, TikTok, and Microsoft'sLinkedIn, to pay millions if they don't enter commercial deals with local media outlets for news on their platforms, Reuters reports4. MOVERS:Bitdeerincreased in New York after Barclayscoverage of the stock with an Overweight ratingAndersen Groupgained after announcing aWebullwas higher after, with EPS higher year-over-yearCotyfell after RBC Capitalthe stock to Sector Perform following Q4 resultsFluence Energywas lower after GLJ Researchthe stock to Hold5. EARNINGS/GUIDANCE:Advance Auto Partsand raised its outlook for FY26LSI Industries, with EPS and revenue beating consensusTicketplus, with EPS and revenue higher year-over-yearNetEase, with EPS missing consensusNavios Maritime Partners, with EPS and revenue beating consensusINDEXES:The Dow fell 703.84, or 1.32%, to 52,759.21, the Nasdaq lost 263.92, or 1.00%, to 26,067.17, and the S&P 500 declined 66.82, or 0.87%, to 7,641.16.

Stripe Acquires OpenRouter for $7.5 Billion

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.OPENROUTER ACQUISITION:Stripe, the programmable financial services company, announced that it has agreed to acquire OpenRouter, an AI model gateway and routing platform. OpenRouter helps businesses route and optimize token usage across 400+ models from more than 80 providers. "Tokens are the central currency for companies building with AI, and it's clear that the real-world economic potential will depend on making good use of scarce compute resources," said Patrick Collison, cofounder and CEO of Stripe. "Stripe is building the economic infrastructure for AI, and together with OpenRouter we'll help businesses maximize profitability by routing their requests intelligently and spending their tokens efficiently."Stripe is paying $7.5B to acquire AI model gateway and routing platform OpenRouter, with $1.5B going to the startup's founders and $6B to its investors, The New York Times' Erin Griffith, citing sources.SUPERVOTING POWER:Anthropic is preparing a dual-class share structure that would give CEO Dario Amodei and other co-founders enhanced voting power ahead of a potential mega-IPO, helping insulate management from outside shareholder pressure, The Information's Cory Weinberg and Valida Pau.AI DATA CENTER OPPORTUNITY:Seaport Research upgraded Analog Devicesto Buy from Neutral with a $425 price target. The company said its AI data center opportunity is twice what it thought it was a few months ago, the firm tells investors in a research note. Seaport views Analog's management team as conservative. In addition, most of the company's other end markets are trending upwards, with inventories getting lean and lead times lengthening, notes the firm. It believes Analog Devices "appears to be entering the sweet part of the cycle."AI BUILDOUT EXPOSURE:Deutsche Bank upgraded Target Hospitalityto Buy from Hold with an unchanged price target of $22. The company's multiple has expanded over the last two months as Target has increasingly been recognized as indirect beneficiaries of the AI buildout, the firm tells investors in a research note. Deutsche says the company is servicing the data center construction workforce, and appears to be in the early innings of monetizing the revenue stream. It views the stock's valuation at current levels as "reasonable."ENTERPRISE AI STRATEGY:Conduentannounced it is expanding its enterprise AI strategy by collaborating with GoogleCloud and integrating Google's Gemini models into Conduent's Viewpoint platform. The collaboration represents another milestone in Conduent's strategy to embed GenAI across its technology platforms. "Enterprise AI is not about replacing expertise, it is about amplifying it," said George Wehbe, President, Commercial Solutions, Conduent. "Legal professionals are being asked to review exponentially more information with the same resources. By combining Conduent's legal operations expertise with Google Cloud's AI capabilities, we're helping clients make faster, better-informed decisions while maintaining the governance, transparency and defensibility these matters demand."

Major Averages Decline Amid Bond Market Pressure and Rising Oil Prices

The major averages were broadly lower near noon as investors assess renewed pressure in the bond market and higher oil prices.The 30-year Treasury yield has climbed back above 5.2%, near its highest level in roughly two decades, as investors worry about rising government debt and persistent inflation pressures. The Treasury moved to double its purchases of longer-dated government bonds, helping yields pull back from their recent highs, although the move does not address the underlying fiscal concerns driving the selloff.Oil is adding to the inflation concerns, with Brent crude rising for a fifth consecutive session as tensions surrounding Iran and the Strait of Hormuz remain unresolved. President Donald Trump vowed "economic warfare" on Iran and penalties for its supporters, as the United Arab Emirates reported it was ceasing trade with Tehran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Walmartprovided areport for Q2Alibabareportedbut upbeat revenueDeerereportedand narrowed its FY26 net income guidanceNordsonprovided areport for Q3President Donald Trump asked Congress to pass the Clarity Act, arguing the legislation is a top priority for the industry and is critical to keeping the U.S.'s edge in emerging technologies,2. WALL STREET CALLS:BofAEtsy (ETSY) to Buy from NeutralSeaport ResearchAnalog Devicesto Buy from NeutralRBCMerckon 'unprecedented valuation' after vaccine dataAllstateto Underperform from Market Perform at Keefe BruyetteCitiCactusto Neutral on valuation after rally3. AROUND THE WEB:Virtu Financialis considering a sale of its agency brokerage and technology division, Bloomberg saysYouTubeis offering millions of dollars to popular channels on its platform if they upload videos exclusively to the site for a period of time, Bloomberg reportsOpenAI CFO Sara Friar told employees that the AI lab "will be a public company in 2027," CNBC reportsSeveral women working at L3Harris Technologieshad raised concerns of CEO Chris Kubasik's behavior, including a formal complain to human resources made around 2023 accusing Kubasik of sexual harassment, WSJ reportsAustralia recently passed legislation that would force tech giants, including Meta, Google, TikTok, and Microsoft'sLinkedIn, to pay millions if they don't enter commercial deals with local media outlets for news on their platforms, Reuters reports4. MOVERS:Bitdeerincreases in New York after Barclaysof the stock with an Overweight ratingAndersen Groupgains after announcing aWebull (BULL) higher after, with EPS higher year-over-yearCotyfalls after RBC Capitalthe stock to Sector Perform following Q4 resultsFluence Energylower after GLJ Researchthe stock to Hold5. EARNINGS/GUIDANCE:Advance Auto Partsand raised its outlook for FY26LSI Industries, with EPS and revenue beating consensusTicketplus (TP), with EPS and revenue higher year-over-yearNetEase, with EPS missing consensusNavios Maritime Partners (NMM), with EPS and revenue beating consensusINDEXES:Near midday, the Dow was down 454.85, or 0.85%, to 53,008.20, the Nasdaq was down 259.13, or 0.98%, to 26,071.96, and the S&P 500 was down 34.07, or 0.44%, to 7,673.91.