Shares of eBay are soaring before the opening bell after Ryan Cohen’s GameStop announced an attempt to take over the company for about $56 billion, seeing it as a vehicle to compete with online retail giant Amazon.

GameStop said that its approximately 1,600 U.S. stores could become drop-off and shipping locations.

Wall Street falls from its records; oil prices jump

U.S. stocks fell from their record heights, while oil prices jumped following escalations in the Middle East that may undermine the ceasefire in the war with Iran.

The S&P 500 fell 0.4% Monday, coming off its latest all-time high. The Dow Jones Industrial Average dropped 1.1%, and the Nasdaq composite slipped 0.2%. Stocks turned lower after the United Arab Emirates, a U.S. ally, said it came under attack by Iran for the first time since the ceasefire took hold in early April.

OpenAI president: Stake in company worth $30B

Greg Brockman, OpenAI’s president and CEO Sam Altman’s top lieutenant, disclosed in court Monday that his stake in the artificial intelligence company is worth nearly $30 billion.

Brockman, who also said he did not invest in OpenAI, took the witness stand Monday in the landmark trial that centers on the 2015 birth of ChatGPT maker OpenAI as a nonprofit startup primarily funded by Musk before evolving into a capitalistic venture now valued at $852 billion.

OPEC+ agree to modest rise in oil production

Seven countries in the OPEC+ grouping of oil-producing countries — including Saudi Arabia and Russia — say they’ve decided to a modest increase in production starting in June as part of a commitment to “market stability.”

The commitment to raise production by 188,000 barrels per day comes after a virtual meeting they held on Sunday.

Trump moves to block Minnesota oil firm suit

President Donald Trump’s administration is moving to block a lawsuit Minnesota’s attorney general filed almost six years ago alleging that oil companies and a petroleum trade group deceived state residents about climate change.

Minnesota Attorney General Keith Ellison sued ExxonMobil, Koch Industries, the American Petroleum Institute and refinery company Flint Hills Resources in 2020, accusing them of fraud and deceptive trade practices. The U.S. Justice Department, the enforcement arm of Trump’s administration, filed its own action in federal court in Minneapolis on Monday.

New Mexico seeks child safety limits on apps

New Mexico state prosecutors are seeking fundamental changes to Meta’s social media apps and algorithms to safeguard children in the second phase of a landmark trial on allegations that platforms such as Instagram have created a public safety hazard.

Attorneys made opening statements Monday in the three-week bench trial. Meta has warned that it could eliminate service in the state if forced to comply with impractical mandates.

Whale protections may be delayed to 2035

President Donald Trump’s administration supports a proposal to delay rules to protect a vanishing species of whale in favor of commercial fishing interests.

The North Atlantic right whale numbers only about 380 and they can die after getting tangled in fishing ropes or hit by ships. Environmental groups have pushed for stricter rules to protect the whales, but the U.S. is in the midst of a pause on new federal right whales rules until 2028. Democratic Rep. Jared Golden of Maine has led a push to delay new rules all the way to 2035.