6/11/25

Market rebound stalls as investors weigh trade talks and cooler inflation numbers

US stocks closed lower Wednesday, ending the S&P 500’s three-day win streak as Wall Street sifted through a number of headlines. On the trade front, US-China negotiations resulted in a preliminary agreement to revive last month’s Geneva tariff truce and ease rare-earth export limits.

Meanwhile, May inflation came in cooler than expected, with minimal impact so far from recent tariffs. The S&P 500 slipped 0.27%, the Nasdaq shed 0.50%, and the Russell 2000 dropped 0.38%.

Energy led the market for the second day, with utilities the only other sector in the green, while materials and consumer discretionary lagged. Starbucks led the day’s gains, up 4% after the coffee chain debuted new AI-powered tech and got a price target hike. American Airlines, Delta, and JetBlue were among the worst performers after the latest inflation numbers showed airfare was declining. Elsewhere...

Tesla rose as much as 2% before closing flat after CEO Elon Musk walked back his recent comments about President Trump and floated a new date for the company’s robotaxi rollout.

Dave & Buster’s climbed 17% after the adult arcade chain missed Q1 profit estimates but said traffic is starting to bounce back.

Lockheed Martin fell over 4% after reports that the Pentagon halved its order for the company’s popular F-35 fighter jets.

Victoria’s Secret fell 5% after the lingerie retailer topped Q1 revenue forecasts but lowered its full-year profit outlook, citing a $50 million tariff hit.

Snap ticked up about 1% after announcing its latest iteration of smart glasses, with new AI-powered Specs set to debut next year.

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The benchmark US stock index ended up 0.9%, the Nasdaq 100 rose 0.6%, and the Russell 2000 outperformed with a 1.8% gain.

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markets

14h

Warner Bros. Discovery jumps after Wells Fargo ups price target on dealmaking buzz

Warner Bros. Discovery shares popped 7% Tuesday after Wells Fargo raised its price target on the media giant to $14 from $13 while keeping an equal-weight rating.

The bank’s optimism stemmed largely from the media giant’s potential for dealmaking. In June, WBD announced that it would split its operations into two companies, with the Streaming & Studios division (home to Warner Bros. Television, DC Studios, HBO, and Max) standing alone from the networks side (CNN, TNT Sports, and Discovery).

That separation could make the Streaming & Studios unit more attractive to buyers, the analysts said. They valued the segment at about $65 billion, which could translate to a takeover price north of $21 a share. Potential suitors range from Amazon and Apple to Sony and Comcast, though analysts flagged Netflix as the “most compelling” option despite its limited acquisition track record:

“While NFLX has historically not been acquisitive, [streaming and studios’] $12bn in annual content spend + library + 100+ acre studio lot offers a lot. It kickstarts a theatrical IP strategy, quickly scales video games and most importantly provides premium content to members.”

At Goldman Sachs’ Communacopia + Technology Conference this week, CEO David Zaslav also highlighted growing traction at HBO Max and hinted at future crackdowns on password sharing.

WBD shares are up 26% year to date, and up more than 93% over the past 12 months.

markets

14h

Duolingo up on bullish note, hopes for a user rebound

Duolingo rose by the most in nearly a month after an analyst note painted a more bullish picture of the gamified language-learning company despite a dearth of news otherwise.

A quick check-in with analysts covering the stock on Wall Street found most of them otherwise flummoxed on the reason behind the uptick Thursday.

Some, however, suggested the rise may reflect optimism that the company has been able to reverse a monthslong downturn in daily active user metrics — a slump that set in after a social media backlash to a somewhat artless LinkedIn post from the company about its AI first strategy.

The bullish analyst note, published Thursday by Citizens JMP, suggested Duolingo could be a big beneficiary from a change to Apple’s rules governing its App Store driven by a ruling on a federal antitrust case against the company. The analysts wrote:

Given “Apple’s recent changes to U.S. App Store rules that allow developers to steer payments to the web where fees are similar to typical credit card fees rather than Apple’s 30% fee for in-app purchases and 30% fee on subscriptions for the first year and 15% thereafter, we expect mobile app companies including Duolingo, Life360, and Grindr Inc. to unlock meaningful cost benefits.”

At any rate, the next big event on the company’s calendar is its Duocon 2025 conference on Tuesday, where analysts are hoping to hear more hard information on all of the above topics.

markets

14h

Jeep maker Stellantis surges as CEO says the automaker is in productive tariff talks with the US

Shares of Jeep and Dodge maker Stellantis are up more than 8% in Thursday afternoon trading, following comments from the automaker’s new CEO, Antonio Filosa, at a European auto conference.

On tariffs, Filosa said that Stellantis has had a “very productive exchange of ideas” with the Trump administration on the company’s manufacturing footprint and that the environment around the levies is “getting clearer and clearer.”

The US is Stellantis’ top priority, according to Filosa, and the company has taken efforts to turn things around in the market, where it’s struggled with sales in recent years. To fuel the turnaround, Stellantis is bringing back its popular Jeep Cherokee, which it discontinued in 2023.

As of 12:45 p.m. ET, Stellantis’ trading volume was at more than 140% of its average over the past 30 days.

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