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Kalkine Media ASX Share Market News & Research

Morning Movers: GMS Inc. jumps after report of competing suitors

June 21, 2025 10:00 AM -03 | By EODHD
Morning Movers: GMS Inc. jumps after report of competing suitors
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Stock futures are ticking slightly higher as investors digest fresh geopolitical news and continue to weigh the Federal Reserve’s latest stance on interest rates. President Trump’s announcement of a two-week pause on potential military action against Iran has brought some relief to markets. Brent crude has pulled back to around $77 per barrel as the likelihood of immediate escalation diminishes. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter On the macro side, the Fed’s cautious tone earlier this week is still reverberating. Policymakers kept rates unchanged but emphasized that inflation risks remain, tamping down hopes for a September rate cut. Market pricing now sees only a 50%-60% chance of easing by the fall. UBS and other strategists are warning that equity valuations are stretched, and a volatile summer could lie ahead if profit growth or labor data show signs of weakness. For now, investors appear to be in wait-and-see mode heading into the weekend. In pre-market trading, S&P 500 futures are up 0.23%, Nasdaq futures are up 0.32% and Dow futures are up 0.27%. Check out this morning’s top movers from around Wall Street, compiled by The Fly. Also check out this morning’s Fly By morning movers recap on YouTube. HIGHER – GMS Inc. (GMS) up 28% and QXO(QXO) up 1%, respectively, after The Wall Street Journal reported Home Depot (HD) has made an offer for GMS Inc., kicking off a potential bidding war with QXO, which came public with its own bid on Wednesday EON Resources (EONR) up 1% after entering into a purchase and sale agreement with WPP NM and Northwest Central to acquire all of their respective interests in the South Justis Field located in the Permian Basin in Lea County, New Mexico UP AFTER EARNINGS – CarMax (KMX) up 10% Darden (DRI) up 3% Kroger (KR) up 1% DOWN AFTER EARNINGS – Accenture (ACN) down 5% LOWER – Home Depot (HD) down 1% after reportedly making a competing offer for GMS Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders’ Hot Stocks on TipRanks >> Read More on GMS: Disclaimer & DisclosureReport an Issue Video: Circle extends rally, GMS a major pre-market mover GMS Inc. price target raised to $95 from $71 at Barclays GMS Receives Acquisition Proposal from QXO, Inc. Home Depot bid for GMS may be viewed ‘slightly negatively,’ says RBC GMS Inc. price target raised to $92.20 from $65 at RBC Capital View Comments

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