• Market recap: All 3 main indices rose on Thursday in advance of the holiday weekend, with the Nasdaq in particular gaining nearly 2%. Micron (MU) and Intel (INTC) soared 9-11%. The S&P 500 has now seen gains for 11 of the past 12 weeks. Source: CNBC.
• Getty strikes OpenAI deal: Getty Images (GETY) surged 120% premarket after signing a licensing agreement with OpenAI that will bring Getty content into ChatGPT search and discovery features. Source: Bloomberg.
• SpaceX rally cools: SpaceX (SPCX) fell 4% premarket, extending a pullback after its blockbuster IPO. Despite recent declines, the stock remains up 37% from its $135 offering price. Source: CNBC.
• AbbVie buys Apogee: AbbVie (ABBV) will purchase Apogee Therapeutics (APGE) for $10.9B in cash, paying $135.11 per share. AbbVie gained 2% premarket, with Apogee rocketing 47%. Source: WSJ.
• SK Hynix tops Samsung: SK Hynix (KRX:000660) overtook Samsung (KRX:005930) as South Korea’s most valuable listed company, driven by its dominance in AI-focused memory chips. The stock has surged more than 340% YTD. Source: Reuters.
• BHP flags potash charge: BHP (BHP) expects a $2.3B write-down on its Canadian potash project after expansion costs rose by $2B, causing concerns as the company seeks to diversify beyond iron ore. Shares fell 3% premarket. Source: WSJ.
• Sleep Number goes bankrupt: Citing inflation and supply-chain issues, Sleep Number (SNBR) filed for Chapter 11 bankruptcy with about $672M in debt and plans a $415M sale to a Canadian firm. Shares cratered 47% on Thursday and another 7% premarket. Source: USA Today.
• Microsoft secures AI power: Microsoft (MSFT) signed a 20-year agreement with Chevron (CVX) for a natural-gas plant in Texas that could supply up to 2.67 GW of AI data-center power by 2028. Chevron rose 1.5% premarket. Source: Bloomberg.
• Building materials buyout: CRH (CRH) agreed to buy competitor Arcosa (ACA) for about $8.5B, including debt. Arcosa gained 7% premarket. Source: WSJ.
• Lime taps Uber for IPO: E-bike company Lime plans to name Uber (UBER) as an anchor investor in its IPO. Lime is targeting a $1.8B valuation and a $200M raise. Sources: The Information / Reuters.
• Toy Story breaks records: Disney’s (DIS) 'Toy Story 5' generated more than $300M globally in its opening weekend, the franchise’s biggest debut ever. Still, Disney slumped 1% premarket. Source: BBC.

• China targets U.S. firms: China imposed trade restrictions on 10 U.S. defense companies and added dozens of firms, including rare-earth producers MP Materials (MP) and USA Rare Earth (USAR), to export-control lists after the Pentagon expanded its blacklist of Chinese companies. Still, MP and USAR gained 2-4% premarket. Source: WSJ.
• Coke faces IRS showdown: Coca-Cola (KO) is heading to court in a $20B tax dispute with the IRS over whether it shifted too much profit overseas. Shares are up 14% YTD. Source: WSJ.
• Polymarket in hot water: Polymarket allegedly paid creators to post videos showing fake trades and winnings on simulated versions of its platform, raising advertising and market-integrity concerns. Source: WSJ.
• LA school chief resigns over AI: Alberto Carvalho quit as superintendent of the Los Angeles Unified School District following an FBI investigation into the district’s dealings with collapsed AI startup AllHere. Source: NY Times.
• SCOTUS expands gun rights: The Supreme Court ruled that the government cannot automatically bar casual drug users from owning firearms. The decision raises the burden on prosecutors to demonstrate that a user poses a public threat. Source: NBC.

• Prime Day begins tomorrow: Amazon (AMZN) moved Prime Day to June 23-26 to capitalize on World Cup and July 4th spending after having previously held the 4-day sales marathon in July. Shares fell 1% premarket. Source: Reuters.
• Hollister aims for dormitory market: Hollister (ANF) is partnering with Target (TGT) to launch apparel, bedding, and dorm décor, targeting the $89B back-to-college market. Source: CNBC.

• Gas drops below $4: Average U.S. gasoline prices fell below $4 per gallon for the first time since March amid easing Middle East tensions, though prices remain well above pre-war levels. Brent crude slumped 1% this morning to $79 per barrel. Sources: CNN / NY Times.
• Homeownership costs surge: Annual U.S. homeownership costs rose 39% between 2019 and 2025, outpacing inflation. Higher mortgage rates, insurance, property taxes, maintenance, and repairs are dragging down affordability and keeping home sales near multi-decade lows. Source: WSJ.

• Starmer announces resignation: Embattled U.K. Prime Minister Keir Starmer said he will step down as Labour leader and leave office within weeks. Popular former Manchester mayor Andy Burnham is expected to succeed him. Sources: NPR / AP.
• Conservative prevails in Colombia: Right-wing political outsider Abelardo de la Espriella, who was backed by President Trump, narrowly won Colombia’s presidential election. He has promised a tougher military response to crime and armed groups. Source: BBC.
• Blast at Qatari LNG plant: An explosion at a natural-gas complex in Qatar injured 54 people and left 18 missing during efforts to restart operations halted by earlier Iranian attacks. Source: CNBC.
• Ubisoft cofounder dies: Claude Guillemot, 69, cofounder of Ubisoft (EPA:UBI), died in a plane crash in western France. Guillemot helped build Ubisoft into a global gaming leader with franchises like 'Assassin’s Creed' and 'Far Cry.' Source: NY Times.

• Thursday: Core PCE Price Index MoM, Durable Goods Orders MoM, GDP Growth Rate QoQ Final, Personal Income & Spending MoM

Fervo Energy Company (FRVO) has released its quarterly earnings.

• Revenue of $61.00K (n/a YoY) misses by $1.14M.
• EPS of -$3.72 misses by $3.63.
• Financials · As Reported · Metrics · Press Release

FedEx (FDX) will report tomorrow after market close.

• Analysts estimate revenue of $24.06B (+8.37% YoY).
• EPS is estimated to be $5.94 (-2.14% YoY).
• Financials · As Reported · Metrics

Carnival Corporation (CCL) will report tomorrow before market open.

• Analysts estimate revenue of $6.68B (+5.61% YoY).
• EPS is estimated to be $0.34 (-2.86% YoY).
• Financials · As Reported · Metrics

KB Home (KBH) will report tomorrow after market close.

• Analysts estimate revenue of $1.09B (-28.81% YoY).
• EPS is estimated to be $0.45 (-70.00% YoY).
• Financials · As Reported · Metrics

Micron Technology (MU) will report Wednesday.

• Analysts estimate revenue of $35.01B (+276.46% YoY).
• EPS is estimated to be $19.95 (+944.50% YoY).
• Financials · As Reported · Metrics

Paychex (PAYX) will report Wednesday.

• Analysts estimate revenue of $1.61B (+12.45% YoY).
• EPS is estimated to be $1.31 (+10.08% YoY).
• Financials · As Reported · Metrics

Trip.com Group (TCOM) will report Wednesday.

• Analysts estimate revenue of $2.33B (+21.99% YoY).
• EPS is estimated to be $0.79 (-3.66% YoY).
• Financials · As Reported · Metrics

Jefferies Financial Group (JEF) will report Wednesday.

• Analysts estimate revenue of $2.28B (+39.74% YoY).
• EPS is estimated to be $1.21 (+202.50% YoY).
• Financials · As Reported · Metrics

Darden Restaurants (DRI) will report Thursday.

• Analysts estimate revenue of $3.73B (+14.01% YoY).
• EPS is estimated to be $3.64 (+22.15% YoY).
• Financials · As Reported · Metrics

TD SYNNEX (SNX) will report Thursday.

• Analysts estimate revenue of $16.79B (+12.34% YoY).
• EPS is estimated to be $4.08 (+36.45% YoY).
• Financials · As Reported · Metrics

McCormick & Company (MKC) will report Thursday.

• Analysts estimate revenue of $1.91B (+15.16% YoY).
• EPS is estimated to be $0.70 (+1.45% YoY).
• Financials · As Reported · Metrics

• Estimated Wednesday, June 24: Alopexx, Inc. (ALPX), a biopharma company that focuses on bacterial and parasitic infections.
• Estimated Thursday, June 25: DCP Holdings PLC (DPC), an aerospace and military engine maker with $886M in TTM revenue and 12.2% revenue growth YoY.
• Estimated Friday, June 26: MetaOptics Ltd (MOT), a Singapore-based optical lenses maker with $613,198 in TTM revenue and 891.2% revenue growth YoY.