Morning Movers: Chart Industries, Flowserve both rise following merger pact
Stock market futures are slightly lower this morning as investors digest a mix of tariff and jobs concerns.
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Traders are focused on the labor market this week, with jobless claims and the May employment report on the horizon. After ADP announced private payrolls increased a lean 37,000 in May, President Trump repeated his view that the Fed 'must' lower rates 'now.'
Meanwhile, concern about the impact of tariffs have been stoked again following a warning from Dollar Tree about profit pressure related to import costs.
Oil prices are steady as Canadian wildfire risks appear to be easing slightly, helping calm supply fears. In crypto, Uniswap's token has surged above $6.75 on signs of accumulation by larger investors, with some analysts pointing to a shift in market sentiment.
In pre-market trading, S&P 500 futures fell 0.03%, Nasdaq futures fell 0.04% and Dow futures fell 0.06%.
Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER –
Chart Industries (GTLS) and Flowserve (FLS) up 6% and 4%, respectively, after announcing that they have entered into a definitive agreement to combine in an all-stock merger of equals
UP AFTER EARNINGS –
Guidewire (GWRE) up 13%
REV Group (REVG) up 10%
Genesco (GCO) up 9%
Thor Industries (THO) up 8%
Sprinklr (CXM) up 2%
HP Enterprise (HPE) up 6%
HealthEquity (HQY) up 4%
DOWN AFTER EARNINGS –
Sportman's Warehouse (SPWH) down 4%
Dollar Tree (DLTR) down 2%
CrowdStrike (CRWD) down 7%
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Chart Industries and Flowserve Announce Merger Agreement
Chart Industries, Flowserve say agreement to generate $300M of annual synergies
Chart Industries, Flowserve to combine in all-stock merger of equals
Chart Industries, Flowserve near all-stock deal worth about $19B, WSJ reports
Chart Industries shares up 5% premarket following WSJ report
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