All three major US stock indexes fell in late-morning trading Thursday amid uncertainty in the Middle East and upcoming Trump-Xi talks.
In company news, Oracle (ORCL) issued a force majeure notice to Project Jupiter's developer, a unit of Blue Owl Capital (OWL), seeking to defer payments if its planned New Mexico data center is delayed and fails to come online in 2028 as planned, Bloomberg reported. Shares of Oracle were down 4.5% in the session.
MGM Resorts International's (MGM) shares fell past 10% after People (PPLI) dropped its offer to acquire the casino operator. People Chairman Barry Diller said the group no longer believed the conditions for a take-private deal were coming together as hoped.
BlackBerry (BB) reported fiscal Q2 adjusted earnings of $0.07 per share, up from $0.04 a year earlier. Revenue stood at $163.3 million, up from $129.6 million a year earlier. The company also lifted its fiscal 2027 outlook. Shares slipped 4.7%.
Gen Digital (GEN) has made an initial takeover approach for GoDaddy (GDDY) as it seeks to expand beyond cybersecurity and privacy technology, the Financial Times reported. Gen Digital was down 8.1% while GoDaddy rose 2.8% in the session.
Paramount Skydance (PSKY) said it launched syndication for a proposed $7.5 billion senior secured incremental tranche of term B loans, subject to market conditions. Net proceeds from these borrowings would help fund its proposed acquisition of Warner Bros. Discovery (WBD) and repay certain debt. Paramount Skydance's stock was up 1.9%.
Revvity (RVTY) shares rose 2.2% after the company launched its GSP T1D 3plex kit, a fully automated test that helps identify children at risk of developing type 1 diabetes before symptoms appear.
IBM (IBM) said it acquired UK cybersecurity consultancy Logiq Consulting. Financial terms were not disclosed. Shares were down 2.5% in the session.
Price: 138.02, Change: -6.54, Percent Change: -4.52
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