Take a look at the biggest drivers in the futures market:
Amazon.com (AMZN) – CEO Jeff Bezos has announced that he and his brother Mark will join the bidder of the first human spacecraft by Bezos’ Blue Origin on July 20. Bezos will step down as CEO of Amazon. On the 5th of July of Andy Jazzy
US Concrete (USCR) – A concrete supplier has agreed to be bought by building material maker Vulcan Materials (VMC) for $74 per share in cash, or about $1.29 billion. That’s a premium of nearly 30% to US Concrete’s closing price on Friday of $57.14. US Concrete shares jumped 27.7 percent in premarket action.
G-III Apparel (GIII) – The apparel maker reported quarterly earnings of 53 cents per share, compared with 15 cents to the stock’s consensus estimate. Earnings also beat Wall Street forecasts. The G-III also showed a bright outlook for the year. This was noted in the sales growth of sportswear and workwear. Shares were up 5.8% in futures trading.
Blackstone (BX), Carlyle Group (CG) – Two privately held companies, along with Hellman & Friedman, have agreed to buy pharmaceutical company Medline Industries for about $34 billion, including debt. According to people familiar with the story spoke to The Wall Street Journal. That would be the biggest buyback deal since the 2008 financial crisis. Additionally, the Journal reported that Blackstone would announce a deal to buy data center provider QTS Realty Trust (QTS) for $6.7 billion. QTS shares surged. Up 19.8% in premarket
“Meme” Stocks – These will remain in the spotlight. After a big swing last week for AMC Entertainment (AMC), Bed Bath & Beyond (BBBY), GameStop (GME), BlackBerry (BB) and Koss Corp (KOSS), it’s a big move ahead. The best came from BlackBerry, up 1.4% and Koss, down 2.7%.
Lordstown Motors (RIDE) – Lordstown Motors has received a notice of misconduct from Nasdaq for late filing of its quarterly report. The electric car company said it intends to file Form 10-Q as soon as possible.
Biogen (BIIB) – The drugmaker’s shares gained 2.2% in the market ahead of an expected ruling by the Food and Drug Administration on aducanumab in an experimental Alzheimer’s treatment of Alzheimer’s. Biogen The drug will be the first major drug approved for Alzheimer’s disease. But some experts say there isn’t enough evidence to show that the treatment offers any meaningful benefit.
Tesla (TSLA) – Tesla has discontinued production of the Tesla Model S Plaid+, a high-end version of the Model S with a projected mileage of 520 miles. The Tesla Model S Plaid – has an expected mileage. Projected 390 miles – will debut next week.
Microsoft (MSFT) – Microsoft has been approved by the US antitrust regulator. For a $16 billion deal to buy artificial intelligence company Nuance Communications (NUAN), Microsoft said investigations are still taking place in other jurisdictions, but expects to close the deal by the end of 2021.
KKR (KKR) – KKR will buy airport services company Atlantic Aviation from current owner Macquarie Infrastructure (MIC) for nearly $4.5 billion. To capitalize on the growing demand for private jet services, KKR added 1.5% to its pre-market operations.
Visa (V) – Visa is upgraded to “Overweight” from “neutral” at Piper Sandler, which expects payment network operators to benefit from the US recovery. More vaccine-driven than rival MasterCard (MA) Visa adds 1.1% in premarket
Peloton (PTON) – The fitness equipment maker has been rated “buy” in new coverage at Loop Capital, down 40 percent from its January high. And the financial impact of the company’s treadmill recall is expected to be exaggerated. Peloton rose 1.2 percent in futures trading.