AstraZeneca's shares fell over 4% while Bristol Myers Squibb's rose more than 5% after The Financial Times reported that the two pharmaceutical companies are in discussions about a potential merger.
In the steel sector, ArcelorMittal's stock increased by over 2% as it announced an expanded technology partnership with Microsoft, which will utilize Microsoft's Azure platform to modernize its operations. Microsoft shares also gained 2%. Alibaba's U.S.-listed shares rose 4% following the announcement of its new AI model, Qwen3.8-Max, set to launch next week.
Ferguson Enterprises saw a nearly 8% increase in its stock price after being added to the S&P 500, replacing Electronic Arts. Conversely, eBay's shares dropped more than 3% after Wells Fargo downgraded the stock, citing concerns over the financial impact of its recent acquisition of Depop.
Additionally, memory storage companies like SanDisk and Micron Technology experienced declines of over 3%, while Seagate Technology fell 2.5%. Circle Internet Group's stock fell 5% after Morgan Stanley downgraded it, highlighting challenges ahead for its USDC stablecoin