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This week’s earnings calendar is shifting from mega-cap tech to a smaller group of AI-linked stocks where options traders are expecting major volatility. According to Benzinga Pro, seven companies with market caps above $50 billion are reporting this week, with options markets pricing post-earnings moves between about 10% and nearly 15%. The group includes Arm, DoorDash, Shopify, AppLovin, Cloudflare, Coherent and CoreWeave. Arm carries the largest dollar exposure, with a potential 10.22% move representing about $23 billion in market value. The company has surged more than 93% year to date as AI infrastructure demand boosts licensing and custom silicon momentum. CoreWeave has the biggest implied move of the week at 14.66%. The AI cloud company is expected to more than double revenue year over year, though losses remain a concern because of heavy infrastructure spending. Coherent is also in focus as a key optical networking play tied to AI data center demand. The stock has jumped more than 78% year to date. Cloudflare, AppLovin and Shopify are all expected to see double-digit swings as investors watch AI, e-commerce, ad-tech and edge infrastructure trends. DoorDash is the only delivery stock on the list and could set the tone for gig-economy sentiment. The takeaway: AI earnings volatility is not just about the Magnificent 7 anymore.

Global Business Travel Shares Surge As Buyout News Follows Strong Earnings Beat. $GBTG benzinga.com/m-a/26/05/5225…

Elon Musk says reusable rockets are essential if humanity wants to become a multiplanetary civilization. Responding to a post about SpaceX dramatically lowering the cost of reaching orbit, Musk said the value of any technology should be judged by how much it improves fundamental metrics. The post noted that Falcon 9 helped cut launch costs from about $54,500 per kilogram in the Shuttle era to roughly $1,500, with Starship aiming for less than $100. Musk argued that reaching multiplanetary status without reusable rockets is impossible. He compared it to early colonization, saying it would have been impossible to colonize America with expendable boats. Musk also said SpaceX’s future Starship V4 rocket is expected to exceed the power of NASA’s Saturn V Moon rocket. He said Starship V4 is targeting more than 10,000 metric tons of thrust at liftoff, or about 22 million pounds of force. That would be roughly three times the power of Saturn V. The comments come as SpaceX prepares for a potential IPO next month. Filings have revealed details about the company’s dual-class share structure, which could leave Musk with significant control. SpaceX has also warned investors that major goals like Mars colonization and orbital data centers depend on unproven technology and may not become commercially viable. The takeaway: Musk sees reusable rockets as the cost breakthrough that makes Mars, lunar bases and long-term space expansion possible.

Intel Clears Antitrust Hurdle For SambaNova Deal. $INTC benzinga.com/markets/tech/2…

Stock Market Today: Oil Jumps 5%, S&P 500 Drops As Iran Strikes UAE Port vist.ly/42y3s

Sen. Elizabeth Warren criticized President Donald Trump over the Iran war, saying the conflict’s impact on fuel prices helped push Spirit Airlines over the edge. In a post on X, Warren said “spiking fuel prices from Trump’s war” were the final “nail in the coffin” for the twice-bankrupt budget airline. Spirit reportedly stopped flying Saturday after creditors declined to support a U.S. government rescue plan for the airline. The shutdown comes as rising fuel costs put pressure on budget carriers, which are especially vulnerable because they rely on keeping fares low and costs tightly controlled. Warren also pushed back on Republican criticism tied to Spirit’s failed merger with JetBlue. She said the deal failed because a federal judge appointed by Ronald Reagan ruled the merger illegal, not because of Biden-era politics. Other budget airlines are also feeling pressure. Frontier and Avelo have reportedly sought a $2.5 billion relief package as higher fuel costs weigh on the industry. Jet fuel prices recently hovered around $4.13 per gallon, down from early April’s $4.88 but still elevated enough to hurt airline economics. The broader backdrop remains the U.S.-Israel conflict with Iran and ongoing disruption around the Strait of Hormuz. Trump has launched a “Project Freedom” initiative to help guide stranded ships through the strait and is reviewing a new Iranian proposal to end the war.

Palantir Earnings Prediction Market Preview: What Will Alex Karp Say? $PLTR benzinga.com/markets/predic…

Ford CEO Jim Farley says the auto industry needs to make vehicles more affordable as new-car prices continue to strain U.S. buyers. In a CBS News interview, Farley said some Americans can still afford new vehicles, but Ford and the broader industry need to do a better job bringing prices down. Farley said Ford plans to offer more new models priced around $40,000 or less over the next few years. He said most of Ford’s upcoming models will include more affordable versions, though the challenge is building vehicles in America while sourcing parts globally at competitive costs. The comments come as Ford prepares a cheaper electric vehicle lineup. Farley recently said Ford is working on an affordable all-electric vehicle that can compete with Tesla’s Model Y and Model 3. The company is also expected to launch a roughly $30,000 midsize electric pickup on a new platform in 2027, with more affordable EVs likely to follow. Farley also warned that Chinese automakers have become a major competitive threat, especially in lower-priced EVs. The affordability pressure is real. Kelley Blue Book data shows the average new-car price is close to $50,000, about 30% higher than in 2019. Ford recently beat earnings and revenue estimates, but its EV unit still posted a $777 million first-quarter EBIT loss. The takeaway: Ford wants cheaper EVs, but making them profitably remains the hard part.

Will Ryan Cohen Take GameStop's Massive $56 Billion eBay Offer Directly To Shareholders? $GME $EBAY benzinga.com/markets/equiti…

GameStop has proposed acquiring eBay in a $55.5 billion cash-and-stock deal that would dramatically expand the video game retailer’s reach into e-commerce. The offer values eBay at $125 per share, representing a 20% premium to its closing price on Friday. Under the proposed terms, eBay shareholders would receive a mix of cash and GameStop stock, with the ability to choose their preferred form of payment, subject to allocation limits. GameStop also said it has already built a 5% economic interest in eBay through derivatives and direct share ownership. The company plans to fund the cash portion with its $9.4 billion in cash and liquid investments, along with third-party financing. GameStop said it has secured a “highly confident” financing letter from TD Securities for up to $20 billion. If the deal closes, GameStop CEO Ryan Cohen would lead the combined company. Cohen told The Wall Street Journal that eBay should be worth much more and said he is thinking about turning it into a company worth hundreds of billions of dollars. GameStop also sees major cost-cutting potential. The company is targeting $2 billion in annualized expense reductions within one year of closing, including cuts across sales and marketing, product development and administrative costs. GameStop says its 1,600 U.S. stores could help eBay with authentication, intake, fulfillment and live commerce. The takeaway: Cohen is trying to turn GameStop’s cash pile into a much bigger e-commerce bet.

Ring The Bell is live 🔔 A record rally has Goldman Sachs sounding the alarm. Jamie Dimon issues his latest warning. Plus top stories, the AI rotation, earnings, and more. Read today’s issue: benzingaringthebell.beehiiv.com/p/record-rally…

Earnings Volatility Watch: 7 AI-Linked Stocks Are Set For Double-Digit Moves This Week vist.ly/42wu2

This weeks earnings calendar 📅

Several stocks could be in focus Monday morning as U.S. stock futures traded mixed. Tyson Foods is set to report earnings before the opening bell, with Wall Street expecting profit of 78 cents per share on revenue of $13.61 billion. Shares slipped slightly in after-hours trading. Williams Companies will report after the market closes. Analysts expect the energy infrastructure company to post earnings of 62 cents per share on revenue of $3.11 billion. Skycorp Solar was one of the biggest after-hours movers after announcing it acquired the remaining stake in Nanjin Cesun Power. Shares jumped more than 74% after the news, putting the solar stock on watch heading into Monday’s session. Vertex Pharmaceuticals is also expected to report after the closing bell. Wall Street projects earnings of $4.31 per share on revenue of $3.03 billion. ON Semiconductor will also be in focus after the close, with analysts expecting earnings of 60 cents per share on revenue of $1.49 billion. Shares of ON Semiconductor edged higher in after-hours trading, while Vertex moved slightly lower. The broader takeaway: Monday’s session could be shaped by a mix of earnings reports, guidance updates and sharp individual stock moves. Investors will be watching Tyson, Williams, Vertex and ON Semiconductor for fresh reads across consumer staples, energy, health care and chips.