Morning Movers: Organon jumps after report of Sun Pharmaceutical bid

Stock futures are essentially flat, reflecting a market waiting for confirmation. Markets are ending the week in a cautious holding pattern, with momentum from earlier in the week fading.

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Oil is creeping higher again, hovering near the $100 per barrel level, as doubts grow around the durability of the ceasefire and disruptions in the Strait of Hormuz persist. Meanwhile, the CPI report is showed the sharpest year-over-year price increases for consumers in nearly four years, largely driven by the recent energy shock. Even with a pause in fighting, oil flows remain constrained and supply chains are still disrupted, meaning inflation pressure doesn’t immediately disappear.

Equities are struggling for direction, bond yields are holding firm, and the dollar is stabilizing after recent volatility.

In pre-market trading, S&P 500 futures rose 0.14%, Nasdaq futures rose 0.21% and Dow futures rose 0.02%.

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

HIGHER –

• Organon (OGN) up 17% after Economic Times reported Sun Pharmaceutical Industries has decided to proceed with a binding offer of $12B for the company
• CoreWeave (CRWV) up 5% after entering an agreement with Anthropic to support the development and deployment of Anthropic’s Claude family of AI models
• TSMC (TSM) up 2% after reporting Q1 and March revenue figures

UP AFTER EARNINGS –

• Simulations Plus (SLP) up 14%

DOWN AFTER EARNINGS –

• Beam Global (BEEM) down 4%

LOWER –

• Tecnoglass (TGLS) down 4% after cutting its FY26 adjusted EBITDA outlook following recently announced tariffs
• ServiceNow (NOW) down 2% after UBS downgraded shares to Neutral with a price target of $100, down from $170
• DocuSign (DOCU) down 1% after Citi downgraded the stock to Neutral with a price target of $50, down from $99