All three major US stock indexes were up in late-morning trading Monday, after President Donald Trump said he ordered a five-day postponement of military strikes against Iranian energy sites amid ongoing talks between the warring nations.

In company news, a JPMorgan Chase-led group of Wall Street banks has launched an $8 billion sale of junk bonds to finance the leveraged buyout of Electronic Arts (EA), Bloomberg reported Monday, citing a person with direct knowledge of the matter. The group of lenders kicked off the sale of $5.5 billion of US dollar and euro secured notes and $2.5 billion of US dollar unsecured bonds, the person reportedly told Bloomberg. For the $3.75 billion in dollar-denominated secured bonds, initial price talks is in the high 7%, while for the 1.51 billion euro-denominated ($1.75 billion) secured bonds, a deal is being pitched in the high 6% area, the report said. JPMorgan shares were up 2.5% around midday, while EA shares were up 0.2%.

Apogee Therapeutics (APGE) said Monday that 52-week maintenance data from Part A of its phase-two trial of zumilokibart in patients with moderate-to-severe atopic dermatitis demonstrated durable maintenance response and "deepening" response for lesional and itch endpoints. The company said it expects to start phase-three trials later this year, with a targeted commercial launch in 2029. Apogee shares were up 20.2%.

Elliott Investment Management has amassed a multibillion-dollar stake in Synopsys (SNPS) and plans to engage with the company to push its business to make more money from its software and services, news outlets reported Sunday, citing sources. Synopsys shares were up 4.9%.

Sen. Adam Schiff (D., Calif.) and Sen. John Curtis (R., Utah) are introducing a bill Monday that would block Kalshi, Polymarket, and other Commodity Futures Trading Commission-regulated firms from listing contracts related to sporting events, The Wall Street Journal reported Monday, citing comments from the legislators. Flutter Entertainment (FLUT) shares were up 6.2%, while DraftKings (DKNG) shares were up 3.6%.

PepsiCo (PEP) is sourcing 95% of its ingredients locally in an effort to offset headwinds from ongoing geopolitical tensions and cost pressures, Bloomberg reported Sunday, citing Pepsi's Asia Pacific Chief Executive Anne Tse. The company has also implemented a hedging strategy for various commodities, Tse reportedly said. PepsiCo shares were up 0.7%.

Price: 293.37, Change: +6.81, Percent Change: +2.38