Fox, Tripadvisor and SpaceX lead midday stock moves as deal news and analyst calls reshape trading

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Fox, Tripadvisor & SpaceX midday moves

Highlights

SpaceX surges 9% in its second Nasdaq session, building on Friday’s 19% IPO pop and raising a total of $85.7 billion including the greenshoe overallotment.
Fox Corporation drops 15% after announcing a $160-per-share cash-and-stock acquisition of Roku, an 11% premium to Roku’s Friday close, as Roku shares edge lower.
U.S. oil prices fall 5% to about $80 per barrel on news of a U.S.-Iran deal reopening the Strait of Hormuz, dragging down energy stocks and boosting airline and cruise names.

Corporate deals and upgrades drive individual movers

As reported by CNBC, several of the session's largest stock moves are tied to corporate announcements, brokerage actions and the ongoing market response to recent listings.

SpaceX shares are up 9% on the company's second day of trading on Monday after its Nasdaq debut on Friday, when the stock rose 19% from its IPO price of $135 per share. The company raises a total of $85.7 billion, including the underwriters' greenshoe overallotment.

Ferrari gains 5% after Morgan Stanley upgrades the luxury carmaker to overweight from equal weight and sets a price target of $438. The bank says Ferrari's decline over the past year reflects value compression rather than weaker earnings or brand deterioration, while dealer visits in the U.S. and Europe indicate demand remains strong for special series and collectible models.

Tripadvisor rises nearly 7% after announcing the sale of its European online restaurant reservation platform to American Express. Starboard has been pressing Tripadvisor to sell The Fork and explore broader strategic options, while American Express, which also owns Resy, sees its shares rise 4%.

Fox Corporation falls 15% after saying it is acquiring Roku for $160 per share, an 11% premium to Friday's close. Fox says in a press release that the cash-and-stock transaction will create a company positioned at the forefront of sports, news and streaming, while Roku's Nasdaq-traded shares edge slightly lower.

Generac Holdings adds 2% after announcing plans to acquire a new facility in Belvidere, Illinois. The company says the deal will expand its packaging capacity for large-megawatt power generators.

Micron Technology climbs more than 9% as technology stocks advance in the broader market rally and TD Cowen raises its price target. The firm's analysts now forecast the stock reaching $1,500 and describe memory demand tied to the artificial buildout as structural rather than cyclical.

Firefly Aerospace and Rocket Lab each rise about 5% after KeyBanc upgrades both stocks to overweight. The move follows Friday declines of 19% for Firefly and more than 10% for Rocket Lab, after the SpaceX IPO prompts investors to shift money from other aerospace names into Elon Musk's company.

Oil slump reshapes sector winners and losers

Commodity moves are also setting the tone for broader sector trading, with lower oil prices hitting energy companies while supporting fuel-sensitive industries.

Energy stocks tumble as U.S. oil prices fall 5% to around $80 per barrel following a U.S.-Iran deal that is set to reopen the Strait of Hormuz. APA drops more than 5%, Devon Energy loses almost 2%, Marathon Petroleum falls more than 4%, and EOG Resources declines close to 3%, while Chevron and Exxon Mobil are also down about 4%.

Airlines and cruise operators benefit from the pullback in fuel prices. United Airlines rises more than 5%, Delta Air Lines gains 2%, Norwegian Cruise Line and Carnival Corporation jump around 4%, and Royal Caribbean advances roughly 6%.

Freeport-McMoRan is up more than 1% as gold prices rise more than 3% on Monday. Investors move back into gold as a potential U.S.-Iran peace deal eases concerns that the Federal Reserve may have to raise rates in the coming months to counter inflation linked to the conflict.

In our earlier article on premarket trading shaped by the oil selloff and deal headlines, we noted that U.S. crude falling toward $80 after the U.S.-Iran agreement to reopen the Strait of Hormuz pressured energy shares while boosting airlines and cruise operators on lower fuel costs. We also highlighted sharp single-stock moves tied to corporate news, including Fox’s planned acquisition of Roku and continued strength in SpaceX ahead of its second day of trading.

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