Merck, Oracle among market cap stock movers on Tuesday

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Thermo Fisher Scientific

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Summary:

Tuesday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Oracle (ORCL) and Affirm...

Tuesday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Oracle (ORCL) and Affirm Holdings (AFRM) are rallying, while stocks like Amkor Technology (AMKR) are falling. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.

Mega-Cap Movers ($200 billion USD and above)

Oracle (ORCL): +2.32%
Palantir Technologies Inc (PLTR): +2.05%
Johnson & Johnson (JNJ): -2.27%
Exxon Mobil (XOM): -2.34%
Thermo Fisher Scientific (TMO): -2.45%
United Health Group (UNH): -2.55%
Merck & Co (MRK): -2.62%
AbbVie Inc (ABBV): -2.25%
IBM (: -1.87%
Micron Technology (MU): -1.98%

Large-Cap Stock Movers ($10-$200 billion USD)

Amkor Technology (AMKR): -10.65%
Booz Allen Hamilton Holding Corp (BAH): -7.73%
Dillards (DDS): -6.53%
Humana Inc (HUM); Humana announces leadership transitions as insurance head to retire: -5.79%
Coupang LLC (CPNG): -5.96%
Lumentum Holdings Inc (LITE); Lumentum appoints onsemi CFO Thad Trent to board of directors: -5.14%
Circle Internet Group Inc (CRCL): +9.34%
dMY Technology Group III (; Jefferies initiates IonQ stock with Buy rating, sets $100 price target: +6.38%
Montes Archimedes Acquisition (ROIV): +5.23%
Affirm Holdings (AFRM): +11.36%

Mid-Cap Stock Movers ($2-$10 billion USD)

Navan Inc (NAVN): -14.6%
Frontier Group Holdings (ULCC); Frontier Airlines appoints James Dempsey as interim CEO: -14.15%
Destiny Tech100 (DXYZ): -12.01%
Thunder Bridge Capital Partners IV (CNCK): -12.0%
Arrowhead Research Corp (ARWR): -8.23%
Valspar Corp (VAL): -8.01%
Pbf Energy Inc (PBF): -9.22%
Corcept Therapeutics (CORT); Corcept Therapeutics stock initiated at Neutral by UBS with $95 target: -6.9%
Sezzle Inc PK (SEZL): +9.96%
Fermi America LLC (FRMI): +11.41%

Small-Cap Stock Movers ($300 million - $2 billion USD)

Armada Acquisition I (RZLV); Rezolve Ai expects to achieve positive adjusted EBITDA in December: +36.64%
Emerald Expositions Events Inc (EEX); Emerald Holding explores strategic options following acquisition inquiries: +38.42%
Tilray Inc (TLRY): +28.04%
NovaBay Pharmaceuticals Inc (NBY): +16.42%
Zenas Biopharma (ZBIO): +12.99%
Lightwave Logic Inc (LWLG); Lightwave Logic prices $35 million public offering of common stock: -20.82%
Jyong Biotech (MENS): -31.13%

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Crude oil inventories take center stage in Wednesday economic lineup

Investing.com

As traders approach another pivotal day for financial markets, Wednesday, December 17, 2025, will bring a series of crucial economic data releases that could sway market dynamics. The EIA Crude Oil Inventories report stands out as the day’s most significant release, offering critical insights into U.S. petroleum demand and potential implications for inflation. Several Federal Reserve officials are also scheduled to speak, including Fed Governor Waller and FOMC members Williams and Bostic, whose comments will be closely monitored for clues about future monetary policy direction.

Major Economic Events to Watch

• 10:30 AM ET - EIA Crude Oil Inventories: Weekly change in commercial crude oil barrels held by U.S. firms, previous reading showed a decrease of 1.812M barrels. This report is a key indicator of petroleum demand and can significantly impact crude prices and inflation expectations.

Other Important Economic Events to Watch

• 8:15 AM ET - Fed Governor Waller Speaks: His remarks may provide insights into the Federal Reserve’s current thinking on monetary policy.

• 9:05 AM ET - FOMC Member Williams Speaks: New York Fed President’s comments will be closely analyzed for policy guidance.

• 10:00 AM ET - Business Inventories: Measures change in value of unsold goods held by manufacturers, wholesalers, and retailers. Previous reading was 0.0%.

• 10:00 AM ET - Retail Inventories Ex Auto: Tracks inventory levels excluding automobiles. Previous reading was 0.0%.

• 10:30 AM ET - EIA Weekly Cushing Oil Inventories: Monitors crude oil storage levels at the key delivery point for U.S. benchmark West Texas Intermediate. Previous reading showed an increase of 0.308M barrels.

• 12:30 PM ET - FOMC Member Bostic Speaks: Atlanta Fed President’s public remarks often contain subtle clues about future monetary policy.

• 1:00 PM ET - 20-Year Bond Auction: Previous auction yielded 4.706%. This figure represents the return investors will receive by holding the bond to maturity.

Other Economic Events to Watch

• 7:00 AM ET - MBA Mortgage Applications: Previous reading showed an increase of 4.8%. Tracks new mortgage application volume.

• 7:00 AM ET - MBA 30-Year Mortgage Rate: Fixed 30-year mortgage lending rates for 80% loan-to-value mortgages. Previous rate was 6.33%.

• 7:00 AM ET - Mortgage Market Index: Covers all mortgage applications during the week. Previous reading was 327.9.

• 7:00 AM ET - MBA Purchase Index: Tracks applications specifically for home purchases. Previous reading was 181.6.

• 7:00 AM ET - Mortgage Refinance Index: Gauge of mortgage refinancing activity. Previous reading was 1,190.6.

• 10:30 AM ET - EIA Weekly Distillates Stocks: Inventory levels of distillate fuels. Previous reading showed an increase of 2.502M barrels.

• 10:30 AM ET - Gasoline Inventories: Measures change in commercial gasoline inventory levels. Previous reading showed an increase of 6.397M barrels.

• 10:30 AM ET - EIA Weekly Crude Imports: Previous reading showed an increase of 0.212M barrels.

• 10:30 AM ET - EIA Weekly Distillate Fuel Production: Previous reading showed an increase of 0.380M barrels.

• 10:30 AM ET - EIA Weekly Gasoline Production: Previous reading showed a decrease of 0.178M barrels.

• 10:30 AM ET - EIA Weekly Heatoil Stock: Previous reading showed an increase of 0.442M barrels.

• 10:30 AM ET - EIA Refinery Crude Runs: Previous reading showed a decrease of 0.016M barrels.

• 10:30 AM ET - EIA Weekly Refinery Utilization Rates: Previous reading showed an increase of 0.4%.

For further information and the latest updates, please refer to our Economic Calendar, here

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Micron, General Mills, Jabil, and more set to report earnings Wednesday

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Earnings season continues as we approach the holiday season, with several notable companies preparing to share their financial performance. Below we highlight companies expected to report earnings the next trading day so you can prepare for the market’s reaction. Leading the action on Wednesday are semiconductor giant Micron Technology, food producer General Mills, and manufacturing solutions provider Jabil Circuit, along with several other companies across diverse sectors.

Earnings Before the Open:

• General Mills (GIS) - EPS estimate: $1.02, Revenue estimate: $4.78B

• Jabil Circuit (JBL) - EPS estimate: $2.69, Revenue estimate: $8B

• ABM Industries Inc (ABM) - EPS estimate: $1.09, Revenue estimate: $2.28B

• Toro Co. (TTC) - EPS estimate: $0.9048, Revenue estimate: $1.05B

Earnings After the Close:

• Micron Tech (MU) - EPS estimate: $3.91, Revenue estimate: $12.8B

• Herman Miller (MLKN) - EPS estimate: $0.4067, Revenue estimate: $962.47M

• Actuant Corp (EPAC) - EPS estimate: $0.3833, Revenue estimate: $146.3M

• General Employment Enterprises (JOB) - EPS estimate: $0.03, Revenue estimate: $41.83M

Be sure to check back daily for updates and insights into the earnings season and real-time results at Investing.com’s earnings calendar and latest financial headlines. Do you want to trade the earnings of the biggest companies like a pro? Then get InvestingPro now and access over 1000 metrics that will give you a significant advantage in the shark tank that is Wall Street. Click here.

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Trump's Giving Cannabis Stocks a Lift — and the Optimism May Be Justified — Barrons.com

Dow Jones Newswires

By Joe Light

After many false starts, investors are once again betting that marijuana businesses are close to seeing federal restrictions ease. This time, the odds may be better.

President Donald Trump on Monday acknowledged that the White House is considering reclassifying marijuana and other cannabis products as a Schedule III controlled substance, a move that would put them on par with many prescription drugs and could save U.S. cannabis companies millions of dollars per year in taxes. Marijuana is currently classified as a Schedule I drug, alongside substances such as heroin and ecstasy.

Shares of marijuana stocks jumped on Tuesday, with Tilray Brands up 22% to $4.04 and Canopy Growth up 14%, compared to the S&P 500's 0.5% drop. The AdvisorShares Pure U.S. Cannabis ETF is up 60% from last Friday, following reports that Trump is considering reclassifying marijuana by executive order.

Investors in marijuana stocks have seen this story before.

On Oct 6, 2022, the AdvisorShares Pure U.S. Cannabis ETF rose 34% as Biden instructed then Attorney General Merrick Garland to review marijuana's classification. On Sept. 9, 2024, the first trading day after Trump said he would support rescheduling marijuana in a Truth Social post, the ETF rose 11%. On Aug. 11, 2025, the ETF soared 26% after Trump told reporters he'd soon decide on the drug.

"Because a lot of people want to see it, the reclassification, because it leads to tremendous amounts of research. It can't be done unless you reclassify. So we are looking at that very strongly," Trump said in the Oval Office on Monday.

The White House didn't respond to a request for comment on Tuesday. A White House official on Friday said no final decision had been made.

There's reason to think Trump might move forward with his order. Politically, easing restrictions on marijuana use could resonate with younger voters, a group that helped propel Trump to victory in the 2024 election.

While Trump's comments might seem out of the blue, they're actually in part the culmination of a years-long process begun under the Biden administration to loosen restrictions. In May 2024, the U.S. Drug Enforcement Administration published a proposed rule to reclassify marijuana and solicited public comment.

The agency planned to hold hearings on the issue earlier this year, but they were delayed amid the transition to the new administration, with Republicans remaining divided on the issue. Trump's executive order would presumably resume the hearing process.

The benefits of Trump rescheduling the drug would be limited. Selling cannabis in most cases would still be illegal under federal law, as would interstate commerce. After a rescheduling, cannabis companies could deduct some business expenses from taxes, a change that could save the top 12 U.S. cannabis companies about $800 million a year, according to Viridian Capital Advisors. Rescheduling would also make it easier for academics to do research on the effects of cannabis.

Rescheduling the drug could pave the way for additional changes that would make it easier for cannabis companies to do business in the U.S.

Even though some states have legalized marijuana businesses, many banks still refuse to provide financial services to the industry while cannabis remains illegal under federal law. A bipartisan group of lawmakers has sponsored legislation that would give banks a safe harbor to lend to state-legal cannabis companies, and such a bill could gain momentum with the president's backing, Compass Point Research & Trading analyst Ed Groshans wrote in a research note.

"Rescheduling is not the whole enchilada but it would be a big deal," wrote analysts for Beacon Policy Advisors in a research note this week. "The momentum these changes would bring would itself be an 'important domino' in advancing other reforms."

Write to Joe Light at joe.light@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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Angie Holdings Limited files for upsized 1.5M share IPO at $4-$6/sh

Investing.com

(Updated - December 16, 2025 1:58 PM EST)

Angie Holdings Limited (AGIE) has filed for an upsized 1,250,000 share IPO at $4-$6 per share. The company previously indicated a 1,250,000 share offering in the same price range. Cathay Securities is acting as the sole underwriter for the offering.

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Chip Stocks Are In a Bubble. Here's More Good News. — Barrons.com

Dow Jones Newswires

Advanced Micro Devices

By Teresa Rivas

By at least one measure, tech stocks aren't in a bubble. The same can't be said about semiconductors — but even that's not as bad as it sounds.

The tech sector's huge rally in recent years led many investors to worry about a bubble even before the November weakness. Even Nvidia CEO Jensen Huang has mentioned the B-word.

All the bubble talk led Ned Davis Research Chief Thematic Strategist Pat Tschosik to go looking for evidence of one, using the following criteria: Stocks had to have two years of price returns of more than 100% and beat the S&P 500's return by more than 100% plus have a five-year return of more than 50%.

Using this definition, only two S&P 500 sectors going back 50 years have been in bubbles: energy in 1980 and tech in 1999-2000. Notably, the current tech sector returns don't make the cut because its two-year excess return to the S&P 500 hasn't exceeded 100%; instead tech's two-year excess return to the S&P 500 peaked at 69% in early January.

That said, not all of tech is off the hook — among subsectors, semiconductors do pass the bubble test. "Semiconductors, famously known for boom and bust cycles, have accounted for three of the nine industry groups that met the bubble criteria, going back to 1991," writes Tschosik.

Yet that's not as bad as it seems. Back in their March 2000 dot-com peak, the five-year S&P Semiconductor returns exceeded 900%; by contrast, today the five-year return is 470%, just over half of that level. It's true that's very high on a historical basis but "there is precedence for S&P 500 Semiconductor returns heading even higher," he writes. "While we can use this bubble criteria to identify industries and stocks at risk, it does nothing to tell you about when an industry will peak or burst (if it is truly a bubble)."

Although this definition was developed for top-down level analysis, applying it to S&P 500 stocks show that, on Oct. 30 — the current cycle's peak — 5.8% of the index's components also fell into bubble territory. That list is dominated by the usual artificial intelligence suspects including Nvidia, Broadcom, and KLA Corp., Lam Research, Micron Technology, Monolithic Power, and Advanced Micro Devices.

Nonetheless, that, too, is below the 9.2% of S&P 500 stocks that were at this level in 2000. Or put another way, on Oct. 30, "17.9% of S&P 500 market cap was in a bubble," Tschosik writes. "At the March 2000 cycle peak, a record 31.5% of S&P 500 market cap met the bubble criteria, implying far more S&P 500 risk than the current environment."

That leaves him with two main conclusions. The first is that whenever the "AI trade turns south, avoiding the datacenter-related semiconductor stocks could help portfolio managers outperform." That echoes other strategists who think that the next wave of AI winners won't be like the current one.

"Second, it feels too early to call the 'bubble' peak given how much investors have been worried about it," notes Tschosik. "Still, we are late enough in the current semiconductor cycle to be on high alert for a major peak."

Again, he isn't the only one to argue that while we may be in a bubble, it's nowhere near popping yet.

Write to Teresa Rivas at teresa.rivas@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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Top Picks in Diversified Financials: RBC Capital Markets’ Best Bets for 2026

Investing.com

Advanced Micro Devices

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Alphabet-A

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Investing.com -- As investors position their portfolios for 2026, RBC Capital Markets has identified standout performers in the diversified financials sector. Their analysis highlights companies with strong growth trajectories, attractive valuations, and compelling business models that are well-positioned to outperform in the coming year.

RBC’s top selections showcase a mix of asset management, fleet management, and insurance businesses that offer distinct investment opportunities. Each company presents unique strengths in their respective subsectors while demonstrating solid fundamentals that support potential share price appreciation.

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Brookfield Despite re-rating in 2025, RBC believes the market still significantly discounts Brookfield’s business despite strong tailwinds into 2026, particularly regarding carried interest realizations. At current prices, investors are effectively paying just 1.0x P/B for Brookfield’s non-real estate private investments. The company expects $25 billion in realized carried interest, with $12 billion anticipated within five years. Carried interest is projected to grow at a 45% CAGR through 2030. Additionally, Brookfield Wealth Solutions represents a major growth lever, with insurance assets potentially expanding from $139 billion today to approximately $350 billion within five years, contributing about one-third of the growth needed to reach the targeted 25% distributable earnings CAGR.

In recent news, Brookfield Corporation reported third-quarter 2025 earnings per share of $0.56, slightly missing forecasts, while revenue met expectations. The company is also part of a joint venture planning an $11 billion investment in AI data capacity in India, and Keefe, Bruyette & Woods reiterated its Outperform rating on the company.

Element Fleet Management Element continues to execute on its capital-light strategy, with services and syndication mix gains supporting structurally higher ROE and operating margin expansion. RBC highlights EFN’s durable growth profile with increasing operating leverage as the company gains market share across self-managed fleets. Strategic advisory wins and strong renewal activity underpin this growth trajectory. Capital return remains a core pillar, with strong free cash flow generation supporting a roughly 30% dividend payout, ongoing NCIB activity, and flexibility for M&A or additional buybacks. RBC’s C$47 price target is based on 23x blended 2026E/2027E operating EPS.

Fairfax Financial RBC expects Fairfax’s valuation discount versus peers to narrow as the company continues to deliver solid operating results. Despite consistent mid-90s combined ratios, stronger investment income momentum, low double-digit BVPS growth, and approximately mid-teens ROE, FFH trades at a P/B discount to peers. RBC believes the recent inclusion in the S&P/TSX 60 Index will drive increasing investor interest in 2026, noting that FFH is now the second P&C name in the index (joining IFC) and its $58 billion market cap exceeds IFC’s $50 billion. RBC’s US$2,200 target is based on 1.5x forward P/B, still below peers despite improving fundamentals.

Fairfax Financial Holdings announced strong second-quarter 2025 results, with net earnings rising to $1.4 billion from $915 million in the same period of the prior year.\\

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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