US stocks trimmed losses on Tuesday as a rally in tech names stalled and investors assessed the latest consumer inflation reading for insight into the impact of the Iran war on the economy.

The Nasdaq Composite (^IXIC) led losses, tumbling roughly 0.7%, while the S&P 500 (^GSPC) shed more than 0.1% after the two indexes notched record closing highs. The Dow Jones Industrial Average (^DJI), which includes fewer tech names, rose 0.1%.

Markets weighed the Consumer Price Index (CPI) reading for April, which showed core price growth above expectations. Consumer inflation continued its rapid ascent amid the Strait of Hormuz blockade, which pressured global fuel and energy prices. Annual headline consumer inflation came in at 3.8%, slightly topping estimates to mark the metric’s largest increase since May 2023.

The debate going forward will be how rising inflation could sway the Federal Reserve’s view of monetary policy, especially in light of Friday’s stronger-than-expected April jobs report.

Also on Tuesday, President Trump will kick off a trip to China, where he will meet with Chinese President Xi Jinping. Trade and AI are expected to top the leaders’ agenda, and Trump has invited 16 top executives, including Tesla CEO Elon Musk and Apple CEO Tim Cook, to join him during the visit.

In the background, escalating tensions between the US and Iran kept investors on edge. Trump said the US-Iran ceasefire agreement between the two countries is on “massive life support” amid a stalemate over a potential peace plan.

Amid the impasse, oil prices continued to rise. West Texas Intermediate (CL=F) crude was up more than 3% to over $102 a barrel, while Brent crude futures (BZ=F) rose 3.3% to above $107 a barrel.

The Nasdaq Composite (^IXIC) trimmed losses on Tuesday to drop about 0.7% as tech stocks fell. The S&P 500 (^GSPC) lost nearly 0.1%, retreating from a record high. The Dow Jones Industrial Average (^DJI) climbed more than 0.1%.

The rally in semiconductor chips came to a halt on Tuesday as a hot inflation print increased the chances that the Federal Reserve may need to delay or hold off on rate cuts this year.

The stock market’s rapid recovery since the March 30 lows has prompted strategists to call out echoes of 1999 euphoria, the year before the dot-com bubble went bust. However, some analysts point out that the valuations today are much lower than those during the Y2K era.

Tue, May 12, 2026 at 7:11 PM UTC

Ines Ferré

Yahoo Finance’s Brooke DiPalma reports:

Rising coffee prices are eating into margins at coffee chains like Dutch Bros (BROS) and Starbucks (SBUX), which are being cautious about raising prices on inflation-weary consumers.

“We’ve been very thoughtful in taking just a very limited amount of price, and we’re really absorbing that inflation ourselves,” Dutch Bros CEO Christine Barone told Yahoo Finance (see video above). “We believe that coffee prices, although incredibly high right now, are likely something that will be somewhat temporary, and so [we] feel comfortable absorbing that for our customers while we’re hopefully waiting for those coffee prices to come down a little bit.”

Read more here.

Tue, May 12, 2026 at 6:22 PM UTC

Ines Ferré

President Trump said Marty Makary is leaving the FDA, in a widely anticipated move.

“He was having some difficulty, you know, he’s a great doctor,” said Trump on Tuesday. “But he’s going to go on and he’s going to do well.”

Makary served as commissioner of the US Food and Drug Administration for 13 months during a tenure marked by reports of staff clashes and leadership turmoil.

Kyle Diamantas, who previously served as the top food official at the FDA, will take over as commissioner, according to a Bloomberg report.

Chip stocks are having their worst day in seven months.

In a sharp reversal from the massive chip rally over the past couple of days that has driven stocks to record highs, the PHLX Semiconductor index (^SOX) is down roughly 5% on Tuesday.

Shares of AMD (AMD), Micron (MU), and Marvel (MRVL) saw mid-single-digit percentage declines as investor sentiment turned risk-off.

Qualcomm (QCOM) stock fell 12% and was having its worst day since 2020. Intel (INTC), which is up around 430% over the past year, declined 9% on the day.
Chip stocks were a sea of red on Tuesday. Investors were likely taking some profits after a significant run-up. The downturn has only made a small dent in the index’s 2026 gains: The SOX remains up 4% over the past five days, 29% over the past month, and 60% since the beginning of the year.

April’s hotter-than-expected inflation data is likely to put the Federal Reserve on guard for creeping consumer prices and potentially leave the door open for interest rate hikes later this year.

Yahoo Finance’s Jennifer Schonberger reports:

According to CME FedWatch, markets on Tuesday morning were pricing in a nearly 98% chance that the Fed will hold rates steady at its next meeting in June and through most of 2026. But looking out to December, there’s now a nearly 30% chance of a rate hike.
Stephen Brown, chief North America economist for Capital Economics, said pressure on core inflation is “still a bit too strong for comfort, and the [Federal Open Market Committee] is likely to be concerned by renewed signs of food inflation accelerating, given the risk that higher gasoline and food prices together will further boost households’ inflation expectations.”

Members of the Fed who pushed to change language in the central bank’s policy statement, indicating the next interest rate move would be a cut, will likely push harder to shift the statement to the possibility that the next rate move could be an increase.

Read more here.

April’s hotter-than-expected inflation data is likely to put the Federal Reserve on guard for creeping consumer prices and potentially leave the door open for interest rate hikes later this year.

Yahoo Finance’s Jennifer Schonberger reports:

According to CME FedWatch, markets on Tuesday morning were pricing in a nearly 98% chance that the Fed will hold rates steady at its next meeting in June and through most of 2026. But looking out to December, there’s now a nearly 30% chance of a rate hike.

Stephen Brown, chief North America economist for Capital Economics, said pressure on core inflation is “still a bit too strong for comfort, and the [Federal Open Market Committee] is likely to be concerned by renewed signs of food inflation accelerating, given the risk that higher gasoline and food prices together will further boost households’ inflation expectations.”

Members of the Fed who pushed to change language in the central bank’s policy statement, indicating the next interest rate move would be a cut, will likely push harder to shift the statement to the possibility that the next rate move could be an increase.

Read more here.

Copper (HG=F) prices surged by 1.2% on Tuesday, pushing the metal past $14,000 per ton, per Bloomberg data. They are nearing an all-time high as renewed demand from China and feedstock supply losses from the Persian Gulf have squeezed the metal.

The price action on Tuesday adds to a rally of nearly 14% since the beginning of the year and more than 40% over the past year. The industrial metal has become highly correlated with the tech sector on the back of copper demand for data centers, wiring, and other equipment.

In China, purchases have surged as the country’s EV transition and AI build-out have sent demand upward, with imports expected to rise in the second quarter of the year. State media in China recently reported that power grid investments, heavily reliant on copper, grew 37% in the first quarter compared with the same period a year earlier.

At the same time, the cessation of vessel traffic through the Strait of Hormuz in the Middle East has choked off global supplies of sulfur and sulfuric acid, which is used in copper production. Iran itself is a major exporter of refined copper.

Silver (SI=F) prices edged down on Tuesday morning, but they are up a whopping 17% from a week ago.

Silver’s surge over the past week comes as President Trump is set to embark on a trip to China to meet with President Xi Jinping. Some of the topics on the leaders’ agenda, such as artificial intelligence and tariffs, are tied to silver’s industrial applications, including electric vehicles and semiconductors.

Gold (GC=F) futures, meanwhile, declined on Tuesday and are up just 3% over the past week. The metal more closely tracks geopolitical uncertainty and has been volatile amid the ongoing war in Iran.

The US stock market opened in the red on Tuesday after April’s CPI reading showed core inflation grew faster than expected and the prior day’s tech rally lost its footing.

The Nasdaq Composite (^IXIC) saw the steepest loss at the opening bell, shedding 0.7%, while the S&P 500 (^GSPC) lost 0.4%. The Dow Jones Industrial Average (^DJI) fell by roughly 0.2% in a fully red opening for the major indexes.

Tuesday’s Consumer Price Index report showed annual headline consumer inflation came in at 3.8% as energy prices continue to rise, slightly topping estimates and marking the metric’s largest increase since May 2023. Core inflation, which excludes food and energy, rose 2.8% over the previous year.

Tuesday also marks the start of President Trump’s trip to Beijing for a long-awaited summit with Chinese leader Xi Jinping. Sixteen business executives, including Elon Musk, will be joining the president.

Real average hourly and weekly earnings, which measure inflation-adjusted worker pay, fell 0.3% and 0.2%, respectively, year-on-year in April, according to the Bureau of Labor Statistics — another sign that inflation is outpacing wage growth.

The yearly drops in real earnings mark a 180-degree turn from March, when the two metrics marked growth of 0.3% and 0.2% on hourly and weekly real earnings, respectively.

The decline in Americans' purchasing power comes amid a bevy of factors, including the war in Iran, that have increased consumer prices.

Consumer prices rose 0.6% in April over the previous month, and 3.8% year over year, while "core" prices — excluding food and energy — rose by 0.4% from the previous month and 2.8% over the previous year.

Both readings were above economists’ expectations of 0.3% month over month and 2.7% year over year. The monthly reading for core inflation also outperformed March's 0.2% monthly rise and 2.6% yearly increase.

Underneath the headline figures, the top-line energy price index rose 3.8% in April, with energy commodities — a category that includes gasoline and fuel oil — up 5.6%. Energy services, which include electricity and utility-supplied natural gas, rose 1.6%, balancing out to the top-line figure.

On an annual basis, energy prices are up 17.9%, with yearly increases on gasoline and fuel oil of 28.4% and 54.3%, respectively, pushing that figure north.

Elsewhere in the report, food prices rose 0.5% on the month, with those prices now up 3.2% year over year. While there hasn’t been much signal of this happening yet, economists have been warning that the loss of fertilizers from the Persian Gulf during the war in Iran is set to put upward pressure on food prices.

In another sign of the war’s impact, airline fares were up 20.7% year-on-year in April, according to the BLS, with a 6.3% monthly increase contributing.

Oil prices rose on Tuesday as tensions remained inflamed in the US after President Trump rejected Iran’s response to US proposals and said the ceasefire agreement between the countries was on “life support.”

Futures on Brent crude (BZ=F), the international benchmark, gained 3.2% to trade above $107 per barrel, while contracts on US benchmark WTI crude (CL=F) rose 3.4% to trade north of $101.

Investors spent Tuesday morning looking for any signs of relief or renewed aggression in the Gulf region after President Trump told reporters on Monday that the Iranian response received by the White House was “garbage,” putting the fragile ceasefire on “life support.”

In their response to an American proposal, Iran has demanded a lifting of the US naval blockade of the Strait of Hormuz, which has been choking off Iranian export revenues; sanctions relief; and some degree of control over traffic through the strait moving forward.

Kuwait on Tuesday said Iran’s Revolutionary Guard Corps had launched a skirmish against against an island within Kuwaiti territory, which the Kuwait Ministry of Foreign Affairs called a “flagrant violation of the sovereignty of the State of Kuwait.”

Traffic through the strait, a critical chokepoint for global energy flows, remained essentially halted Tuesday morning, adding to supply losses throughout the market. Saudi Aramco CEO Amin Nasser said Monday that the world is set to lose 100 million barrels of oil supply each day the war continues.

The US government on Tuesday released 53.3 million barrels of oil from its strategic petroleum reserve (SPR) — part of an agreement coordinated with the IEA to release 172 million barrels in total — as prices for crude and its derivatives have surged. Gasoline pump prices on Tuesday averaged $4.50 per gallon nationally.

Plug Power (PLUG): The stock popped 11% after reporting strong revenue growth and progress toward its goal of achieving profitability by Q4 2026.

Hims & Hers (HIMS): The telehealth platform reported a surprise first quarter loss on Monday afternoon as it pivots toward name-brand GLP-1 weight-loss drugs and away from cheaper copycat versions. The stock fell over 14% in premarket trading.

On Holding (ONON): The shoe company’s quarterly results beat Wall Street expectations, but the stock fell 4% in premarket trading. Co-CEO Caspar Coppetti told Yahoo Finance that the company’s “premium strategy [is] really working” and consumers are willing to pay full-price for its products.

Quantum Computing (QUBT): The stock surged 27% after the quantum computing company reported a major increase in revenue — from $39,000 a year ago to $3.69 million in Q1 — but also higher costs that weighed on profits. Its peer in the quantum space, D-Wave Quantum (QBTS) , also saw shares rise 1% after earnings.

On Tuesday, online marketplace eBay gave a response to GameStop’s (GME) bid to acquire the company.

“The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,” board chair Paul Pressler wrote in a letter.

“We have concluded that your proposal is neither credible nor attractive,” Pressler wrote. “We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.”

Last week, GameStop and its CEO, Ryan Cohen, launched an ambitious bid to take over eBay, which is four times the size of the video game retailer, for $55 billion.

Cohen said the deal would be financed in half cash, half stock, but an interview with CNBC raised questions about how GameStop would fund the acquisition.

President Trump has kicked off his high-stakes visit to China to meet his counterpart Xi Jinping. With AI and chips high on the agenda, Yahoo Finance’s Jared Blikre takes a look at China’s rally in tech stocks in today’s Chart of the Day.

He writes:

Chinese tech stocks have rallied back to a key level, just as the headlines are heating up.

The Invesco China Technology ETF (CQQQ) is pressing into a long-term downward-sloping trend line that starts at its February 2021 peak and captures both the 2025 and 2026 highs.

Invesco China Technology ETF (CQQQ) at a crossroad · Yahoo Finance

The ETF is still down nearly 50% from that peak, but a break above the yellow trend line in the chart below would likely generate momentum for the bulls.

Still, another technical hurdle looms just overhead: the $60 level around the 2025 high. A rally above that zone could force bearish bets to unwind, potentially leading to a short squeeze.

Read more here.

Wall Street is flashing signs of a stock market melt-up, or a rapid and unexpected rise in stock prices, notes Yahoo Finance’s Ines Ferré.

That’s led some strategists to draw uncomfortable parallels to the dot-com bubble of the late 1990s. But some see a firmer basis for the enthusiasm.

Ines reports:

Semiconductor stocks have been gapping up so fast that market watchers are reaching for the playbook from the run-up year to the dot-com crash.

"Since the 3/30/26 low and in particular over the last couple of weeks, it Feels Like 1999," Evercore ISI strategist Julian Emanuel and his team wrote in a note. "Relatives, friends, doctors, Uber drivers are all talking about AI/Tech stocks."

But Emanuel and his team point out that enthusiasm in 2026 is built on a firmer foundation than the dot-com era.

In 1999, "dot-com darlings" traded at a median price-to-earnings multiple of around 152 times, meaning investors paid $152 for every $1 of profit. Today's "AI Class of 2026" trades at roughly 39 times earnings.

"Valuations are high, but not Y2K extremes," Emanuel wrote.

Read more here.

Chip stocks are having their worst day in seven months.

In a sharp reversal from the massive chip rally over the past couple of days that has driven stocks to record highs, the PHLX Semiconductor index (^SOX) is down roughly 5% on Tuesday.

Shares of AMD (AMD), Micron (MU), and Marvel (MRVL) saw mid-single-digit percentage declines as investor sentiment turned risk-off.

Qualcomm (QCOM) stock fell 12% and was having its worst day since 2020. Intel (INTC), which is up around 430% over the past year, declined 9% on the day.
Chip stocks were a sea of red on Tuesday. Investors were likely taking some profits after a significant run-up. The downturn has only made a small dent in the index’s 2026 gains: The SOX remains up 4% over the past five days, 29% over the past month, and 60% since the beginning of the year.

April’s hotter-than-expected inflation data is likely to put the Federal Reserve on guard for creeping consumer prices and potentially leave the door open for interest rate hikes later this year.

Yahoo Finance’s Jennifer Schonberger reports:

According to CME FedWatch, markets on Tuesday morning were pricing in a nearly 98% chance that the Fed will hold rates steady at its next meeting in June and through most of 2026. But looking out to December, there’s now a nearly 30% chance of a rate hike.
Stephen Brown, chief North America economist for Capital Economics, said pressure on core inflation is “still a bit too strong for comfort, and the [Federal Open Market Committee] is likely to be concerned by renewed signs of food inflation accelerating, given the risk that higher gasoline and food prices together will further boost households’ inflation expectations.”

Members of the Fed who pushed to change language in the central bank’s policy statement, indicating the next interest rate move would be a cut, will likely push harder to shift the statement to the possibility that the next rate move could be an increase.

Read more here.

Silver (SI=F) prices edged down on Tuesday morning, but they are up a whopping 17% from a week ago.

Silver’s surge over the past week comes as President Trump is set to embark on a trip to China to meet with President Xi Jinping. Some of the topics on the leaders’ agenda, such as artificial intelligence and tariffs, are tied to silver’s industrial applications, including electric vehicles and semiconductors.

Gold (GC=F) futures, meanwhile, declined on Tuesday and are up just 3% over the past week. The metal more closely tracks geopolitical uncertainty and has been volatile amid the ongoing war in Iran.

The US stock market opened in the red on Tuesday after April’s CPI reading showed core inflation grew faster than expected and the prior day’s tech rally lost its footing.

The Nasdaq Composite (^IXIC) saw the steepest loss at the opening bell, shedding 0.7%, while the S&P 500 (^GSPC) lost 0.4%. The Dow Jones Industrial Average (^DJI) fell by roughly 0.2% in a fully red opening for the major indexes.

Tuesday’s Consumer Price Index report showed annual headline consumer inflation came in at 3.8% as energy prices continue to rise, slightly topping estimates and marking the metric’s largest increase since May 2023. Core inflation, which excludes food and energy, rose 2.8% over the previous year.

Tuesday also marks the start of President Trump’s trip to Beijing for a long-awaited summit with Chinese leader Xi Jinping. Sixteen business executives, including Elon Musk, will be joining the president.

Real average hourly and weekly earnings, which measure inflation-adjusted worker pay, fell 0.3% and 0.2%, respectively, year-on-year in April, according to the Bureau of Labor Statistics — another sign that inflation is outpacing wage growth.

The yearly drops in real earnings mark a 180-degree turn from March, when the two metrics marked growth of 0.3% and 0.2% on hourly and weekly real earnings, respectively.

The decline in Americans' purchasing power comes amid a bevy of factors, including the war in Iran, that have increased consumer prices.

Consumer prices rose 0.6% in April over the previous month, and 3.8% year over year, while "core" prices — excluding food and energy — rose by 0.4% from the previous month and 2.8% over the previous year.

Both readings were above economists’ expectations of 0.3% month over month and 2.7% year over year. The monthly reading for core inflation also outperformed March's 0.2% monthly rise and 2.6% yearly increase.

Underneath the headline figures, the top-line energy price index rose 3.8% in April, with energy commodities — a category that includes gasoline and fuel oil — up 5.6%. Energy services, which include electricity and utility-supplied natural gas, rose 1.6%, balancing out to the top-line figure.

On an annual basis, energy prices are up 17.9%, with yearly increases on gasoline and fuel oil of 28.4% and 54.3%, respectively, pushing that figure north.

Elsewhere in the report, food prices rose 0.5% on the month, with those prices now up 3.2% year over year. While there hasn’t been much signal of this happening yet, economists have been warning that the loss of fertilizers from the Persian Gulf during the war in Iran is set to put upward pressure on food prices.

In another sign of the war’s impact, airline fares were up 20.7% year-on-year in April, according to the BLS, with a 6.3% monthly increase contributing.

Oil prices rose on Tuesday as tensions remained inflamed in the US after President Trump rejected Iran’s response to US proposals and said the ceasefire agreement between the countries was on “life support.”

Futures on Brent crude (BZ=F), the international benchmark, gained 3.2% to trade above $107 per barrel, while contracts on US benchmark WTI crude (CL=F) rose 3.4% to trade north of $101.

Investors spent Tuesday morning looking for any signs of relief or renewed aggression in the Gulf region after President Trump told reporters on Monday that the Iranian response received by the White House was “garbage,” putting the fragile ceasefire on “life support.”

In their response to an American proposal, Iran has demanded a lifting of the US naval blockade of the Strait of Hormuz, which has been choking off Iranian export revenues; sanctions relief; and some degree of control over traffic through the strait moving forward.

Kuwait on Tuesday said Iran’s Revolutionary Guard Corps had launched a skirmish against against an island within Kuwaiti territory, which the Kuwait Ministry of Foreign Affairs called a “flagrant violation of the sovereignty of the State of Kuwait.”

Traffic through the strait, a critical chokepoint for global energy flows, remained essentially halted Tuesday morning, adding to supply losses throughout the market. Saudi Aramco CEO Amin Nasser said Monday that the world is set to lose 100 million barrels of oil supply each day the war continues.

The US government on Tuesday released 53.3 million barrels of oil from its strategic petroleum reserve (SPR) — part of an agreement coordinated with the IEA to release 172 million barrels in total — as prices for crude and its derivatives have surged. Gasoline pump prices on Tuesday averaged $4.50 per gallon nationally.

Plug Power (PLUG): The stock popped 11% after reporting strong revenue growth and progress toward its goal of achieving profitability by Q4 2026.

Hims & Hers (HIMS): The telehealth platform reported a surprise first quarter loss on Monday afternoon as it pivots toward name-brand GLP-1 weight-loss drugs and away from cheaper copycat versions. The stock fell over 14% in premarket trading.

On Holding (ONON): The shoe company’s quarterly results beat Wall Street expectations, but the stock fell 4% in premarket trading. Co-CEO Caspar Coppetti told Yahoo Finance that the company’s “premium strategy [is] really working” and consumers are willing to pay full-price for its products.

Quantum Computing (QUBT): The stock surged 27% after the quantum computing company reported a major increase in revenue — from $39,000 a year ago to $3.69 million in Q1 — but also higher costs that weighed on profits. Its peer in the quantum space, D-Wave Quantum (QBTS) , also saw shares rise 1% after earnings.

On Tuesday, online marketplace eBay gave a response to GameStop’s (GME) bid to acquire the company.

“The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,” board chair Paul Pressler wrote in a letter.

“We have concluded that your proposal is neither credible nor attractive,” Pressler wrote. “We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.”

Last week, GameStop and its CEO, Ryan Cohen, launched an ambitious bid to take over eBay, which is four times the size of the video game retailer, for $55 billion.

Cohen said the deal would be financed in half cash, half stock, but an interview with CNBC raised questions about how GameStop would fund the acquisition.

President Trump has kicked off his high-stakes visit to China to meet his counterpart Xi Jinping. With AI and chips high on the agenda, Yahoo Finance’s Jared Blikre takes a look at China’s rally in tech stocks in today’s Chart of the Day.

He writes:

Chinese tech stocks have rallied back to a key level, just as the headlines are heating up.

The Invesco China Technology ETF (CQQQ) is pressing into a long-term downward-sloping trend line that starts at its February 2021 peak and captures both the 2025 and 2026 highs.

Invesco China Technology ETF (CQQQ) at a crossroad · Yahoo Finance

The ETF is still down nearly 50% from that peak, but a break above the yellow trend line in the chart below would likely generate momentum for the bulls.

Still, another technical hurdle looms just overhead: the $60 level around the 2025 high. A rally above that zone could force bearish bets to unwind, potentially leading to a short squeeze.

Read more here.

Wall Street is flashing signs of a stock market melt-up, or a rapid and unexpected rise in stock prices, notes Yahoo Finance’s Ines Ferré.

That’s led some strategists to draw uncomfortable parallels to the dot-com bubble of the late 1990s. But some see a firmer basis for the enthusiasm.

Ines reports:

Semiconductor stocks have been gapping up so fast that market watchers are reaching for the playbook from the run-up year to the dot-com crash.

"Since the 3/30/26 low and in particular over the last couple of weeks, it Feels Like 1999," Evercore ISI strategist Julian Emanuel and his team wrote in a note. "Relatives, friends, doctors, Uber drivers are all talking about AI/Tech stocks."

But Emanuel and his team point out that enthusiasm in 2026 is built on a firmer foundation than the dot-com era.

In 1999, "dot-com darlings" traded at a median price-to-earnings multiple of around 152 times, meaning investors paid $152 for every $1 of profit. Today's "AI Class of 2026" trades at roughly 39 times earnings.

"Valuations are high, but not Y2K extremes," Emanuel wrote.

Read more here.

Plug Power (PLUG): The stock popped 11% after reporting strong revenue growth and progress toward its goal of achieving profitability by Q4 2026.

Hims & Hers (HIMS): The telehealth platform reported a surprise first quarter loss on Monday afternoon as it pivots toward name-brand GLP-1 weight-loss drugs and away from cheaper copycat versions. The stock fell over 14% in premarket trading.

On Holding (ONON): The shoe company’s quarterly results beat Wall Street expectations, but the stock fell 4% in premarket trading. Co-CEO Caspar Coppetti told Yahoo Finance that the company’s “premium strategy [is] really working” and consumers are willing to pay full-price for its products.

Quantum Computing (QUBT): The stock surged 27% after the quantum computing company reported a major increase in revenue — from $39,000 a year ago to $3.69 million in Q1 — but also higher costs that weighed on profits. Its peer in the quantum space, D-Wave Quantum (QBTS) , also saw shares rise 1% after earnings.

On Tuesday, online marketplace eBay gave a response to GameStop’s (GME) bid to acquire the company.

“The Board, with the support of its independent advisors, has thoroughly reviewed your proposal and has determined to reject it,” board chair Paul Pressler wrote in a letter.

“We have concluded that your proposal is neither credible nor attractive,” Pressler wrote. “We have taken into account such factors as 1) eBay’s standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay’s long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implications of these factors on valuation, and 6) GameStop’s governance and executive incentives.”

Last week, GameStop and its CEO, Ryan Cohen, launched an ambitious bid to take over eBay, which is four times the size of the video game retailer, for $55 billion.

Cohen said the deal would be financed in half cash, half stock, but an interview with CNBC raised questions about how GameStop would fund the acquisition.