U.S. stock futures are pointing higher as investors monitor geopolitical tensions ahead of a holiday-shortened week; Victoria's Secret (VSCO) shares are rising in premarket trading on a report that an activist investor has built a stake in the struggling lingerie retailer; EchoStar (SATS) shares are soaring on a report that President Donald Trump urged the FCC to resolve a dispute over the company's spectrum licenses; Sarepta Therapeutics (SRPT) shares are plunging after the firm reported a second patient has died taking its Duchenne muscular dystrophy treatment; and Microsoft (MSFT) says it is offering more local data control for European customers.
U.S. stock futures are pointing higher as investors monitor Israel-Iran developments and prepare for a holiday-shortened trading week that includes a Federal Reserve interest-rate decision. Futures associated with the Nasdaq, S&P 500, and Dow Jones Industrial Average are up 0.7%, 0.6%, and 0.5%, respectively, after the indexes dropped Friday in reaction to the Middle East conflict. Oil futures are falling 1.3% after soaring Friday. Bitcoin (BTCUSD) is gaining to trade at nearly $107,000. The 10-year Treasury yield is rising and gold futures are falling.
Victoria's Secret (VSCO) shares are rising more than 4% in premarket trading after a report that activist investor Barington Capital Group has built a stake in the struggling lingerie retailer. The Wall Street Journal reported that Barington plans to keep boosting its stake of more than 1% in the company, while pushing it to replace a majority of its board with new independent directors who can help the company restore its focus on its core bra business. Victoria's Secret last week lowered its outlook on worries over tariffs costs after it delayed the release due to a cybersecurity issue. Its shares entered Monday down 56% this year.
Shares of Dish Network and Boost Mobile parent EchoStar (SATS) are surging nearly 50% in premarket trading on a report that President Donald Trump met with Federal Communications Commission (FCC) officials regarding the company's spectrum licenses. Bloomberg reported that Trump met with FCC Chairman Brendan Carr to urge the agency to resolve its dispute with EchoStar's regulatory compliance. Earlier this month, The Wall Street Journal reported that the company was considering filing for bankruptcy amid the dispute.
Sarepta Therapeutics (SRPT) shares are plunging more than 30% in premarket trading after a second Duchenne muscular dystrophy patient has died while taking the company's Elevidys treatment. The pharmaceutical firm previously reported a patient died in March while taking Elevidys. Both patients died of acute liver failure, which Sarepta Therapeutics has warned is a possible side effect of its gene therapy treatment. Sarepta Therapeutics shares entered Monday down 70% this year.
Microsoft (MSFT) said it was expanding its Microsoft Sovereign Cloud offering to ensure that data stored by European customers will be retained and managed in that region. Only European-based Microsoft employees can access data that is stored locally by European customers, the company said. Shares of Microsoft, which has faced antitrust investigations from European regulators, are little changed in premarket trading but hovering near all-time highs amid optimism over the company's strong position amid the AI revolution.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.