Stock Movers: Datadog Joins S&P 500, FedEx Upgraded, Synopsys Gains on China Export News

Datadog's S&P 500 Inclusion

• 🚀 Datadog (DDOG) is set to join the S&P 500 index, replacing Juniper Networks.
• 📈 The software company's stock saw significant gains, trading nearly 10% higher, partly driven by the recent popularity of cybersecurity stocks.
• 💡 Datadog's inclusion is effective prior to the opening of trading on July 9th.

FedEx Receives Double Upgrade

• 🚚 FedEx (FDX) experienced a 1.3% stock increase following a double upgrade from BNP Paribas Exane.
• ⚠️ The broker labeled the stock as "arguably oversold" and anticipates continued operational outperformance relative to competitor UPS.
• 📉 Both FedEx and UPS have lost significant contracts (US Post Office for FedEx, Amazon for UPS), leading FedEx into a prolonged restructuring phase.

Synopsys and Cadence Design Benefit from US Policy Shift

• 💻 Synopsys (SNPS) and Cadence Design (CDNS) saw substantial premarket gains after the US lifted export license requirements for chip design software sales to China.
• 🇨🇳 This move allows companies with significant China exposure, like Synopsys and Cadence, to resume profitable operations in the region.
• 📈 Synopsys shares rose 6.3% to $556, while Cadence Design was up about 6% trading around $303.

UK Government ETF Watch

• 🇬🇧 For international investors concerned about structural issues in the UK government, the iShares MSCI UK ETF (EWU) is highlighted.
• 📉 This ETF was down 1.3% yesterday, reflecting ongoing concerns, particularly around the fiscal deficit.