Markets are digesting a mix of deal news, regulatory clarity, and earnings reactions before the opening bell. Here’s what’s moving early.
Oracle pops on TikTok deal: $ORC ( ▲ 0.2% ) L is up more than 5% in premarket trading after TikTok agreed to sell its US operations to a new joint venture that includes Oracle and private equity firm Silver Lake. Investors are focusing on the potential upside for Oracle’s cloud business, given TikTok’s massive data and infrastructure needs.
CoreWeave rallies on DOE news and Citi coverage: $CRWV ( ▲ 22.99% ) is jumping about 5.5% after the AI cloud infrastructure company joined the Department of Energy’s Genesis Mission, aimed at advancing US research and innovation. Adding fuel to the move, Citi resumed coverage and issued a price target that implies the stock could roughly double from current levels.
Coinbase gains on regulatory clarity: $COIN ( ▲ 1.96% ) is up nearly 3% following new guidance from the SEC for broker-dealers, including crypto exchanges. The long-awaited update is being viewed as a step toward clearer rules of the road for Coinbase’s expanding set of products.
Nike sinks despite earnings beat: $NKE ( ▼ 10.56% ) is down roughly 10% after reporting fiscal second-quarter results. While earnings and revenue beat expectations, a sharp 17% decline in China sales overshadowed the positives and rattled investors worried about global demand.