Morning Movers: Kenvue surges, Kimberly-Clark sinks after tie up

Stock futures are inching higher this morning as investors head into the new month with cautious optimism. The market’s positive tone is anchored by two key dynamics: the arrival of a fresh wave of corporate earnings and a tentative trade-truce signal between the U.S. and China that’s helping boost risk appetite. Asian equities led the charge overnight, with the region’s stocks benefiting from the trade optimism and strong semiconductor demand.

Still, the mood is mixed with the dollar trading at a three-month high, driven in part by remarks from several Federal Reserve officials who suggested that additional rate cuts this year might not be a sure thing. This has dampened some of the easing expectations that had helped risk assets recently.

With the U.S. government shutdown now entering its second month and key economic data delayed, markets are leaning more on earnings and policy cues than traditional macro signals. The absence of fresh labor and inflation numbers is creating a data vacuum, which in turn is keeping volatility on the table.

In pre-market trading, S&P 500 futures rose 0.29%, Nasdaq futures rose 0.66% and Dow futures fell 0.08%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Kenvue (KVUE) up 18% after Kimberly-Clark (KMB) and the company announced an agreement under which Kimberly-Clark will acquire all of the outstanding shares of Kenvue common stock in a $48.7B cash and stock transaction
• Cipher Mining (CIFR) up 15% after entering an approximately $5.5B, 15-year lease agreement with Amazon Web Services (AMZN) to provide space and power for AI workloads
• New Gold (NGD) up 7% after Coeur Mining (CDE) and the company announced that they have entered into a definitive agreement whereby a wholly-owned subsidiary of Coeur will acquire all of the issued and outstanding shares of New Gold for $8.51 per share
• Civitas Resources (CIVI) up 3% after SM Energy (SM) and the company announced they have entered into a definitive merger agreement on an all-stock transaction
• Vertiv (VRT) up 1% after announcing it has entered into an agreement to acquire Purge Rite from Milton Street Capital for approximately $1B

UP AFTER EARNINGS –

• TG Therapeutics (TGTX) up 4%

DOWN AFTER EARNINGS –

• Precision Biosciences (DTIL) down 4%
• Bruker (BRKR) down 1%

LOWER –

• Kimberly-Clark (KMB) down 14% after the company agreed to acquire Kenvue in a $48.7B cash and stock transaction
• Coeur Mining (CDE) down 4% after the company agreed to acquire all of the issued and outstanding shares of New Gold
• SM Energy (SM) down 1% after the company and Civitas Resources announced they have entered into a definitive merger agreement
• Eaton (ETN) down 1% after announcing it has signed an agreement to acquire the Boyd Thermal business of Boyd Corporation from Goldman Sachs (GS) Asset Management for $9.5B