U.S. stock futures are on the rise as investors keep a close watch on the Israel-Iran conflict and gear up for a week with a Federal Reserve interest rate decision. Futures linked to major indexes like the Nasdaq, S&P 500, and Dow Jones Industrial Average are all showing positive gains. Oil futures, however, are experiencing a slight decline after a surge on the previous day. In the cryptocurrency realm, Bitcoin is making gains, hovering around $107,000. The 10-year Treasury yield is also on the rise, while gold futures are facing a dip.
Victoria’s Secret (VSCO) is seeing a rise in its stock value in premarket trading following reports that activist investor Barington Capital Group is increasing its stake in the struggling lingerie retailer. Barington aims to further raise its stake of over 1% and advocate for replacing a significant portion of the company’s board with new independent directors. This move is intended to help Victoria’s Secret refocus on its core business, particularly its bra segment. The company recently adjusted its outlook due to concerns over tariff expenses after a cybersecurity incident delayed its financial report. Year-to-date, Victoria’s Secret shares have plummeted by 56%.
Shares of EchoStar (SATS) are soaring nearly 50% in premarket trading after reports surfaced that President Donald Trump engaged with Federal Communications Commission (FCC) officials regarding the company’s spectrum licenses. The interaction between Trump and FCC Chairman Brendan Carr aimed to push for a resolution to the ongoing dispute over EchoStar’s compliance with regulations. Earlier reports suggested that EchoStar was contemplating bankruptcy amidst the regulatory conflict.
Sarepta Therapeutics (SRPT) is facing a significant drop of over 30% in premarket trading following the news of a second patient fatality related to its Elevidys treatment for Duchenne muscular dystrophy. The pharmaceutical company had previously reported a patient’s death in March due to acute liver failure, a known potential side effect of their gene therapy. This development has resulted in a 70% decline in Sarepta Therapeutics shares since the beginning of the year.
Microsoft (MSFT) has announced an expansion of its Microsoft Sovereign Cloud offering to facilitate European customers in managing their data locally. The company has ensured that only European-based Microsoft employees will have access to data stored by European clients in the region. Despite facing antitrust scrutiny from European regulators, Microsoft’s shares remain relatively stable in premarket trading, close to their all-time highs, reflecting optimism surrounding the company’s strong position amidst the ongoing AI revolution.
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