Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.40%) is in second place on Monday afternoon, down about 27 points.

Briefly, S&P 500 constituents Paramount Skydance (PSKY 11.07, -0.92, -7.67%), Int'l Paper (IP 37.49, -2.04, -5.16%), and Arthur J. Gallagher (AJG 217.37, -10.76, -4.72%) dot the bottom of the standings. For its part, PSKY falls after Wells Fargo initiated coverage with an Underweight rating and $10 price target, while renewed headlines about Tencent (TCEHY 66.08, +0.64, +0.98%) potentially helping finance the company's deal with Warner Bros. Discovery (WBD 27.76, -0.19, -0.68%) kept investor focus on merger and funding risks.

Meanwhile, Ciena (CIEN 310.07, +15.90,+ 5.41%) is one of today's better performers after Argus upped their target to $370 from $280 on surging AI networking demand and order backlog.