The S&P 500 futures have risen by 22 points, trading 0.4% higher. Nasdaq 100 futures are up 93 points, also trading 0.4% higher. Dow Jones Industrial Average futures have increased by 80 points, marking a 0.2% rise.
There's an optimistic trend in early trading today, driven by gains in mega cap stocks that boosted indices last week.
Treasury yields have edged up as the 10-year yield increased by three basis points to 4.51%, while the 2-year yield rose by two basis points to 4.28%.
Comments from Fed officials are influencing market sentiment. Fed Governor Bowman expressed confidence that inflation will continue to slow this year. Meanwhile, Fed Governor Waller supports keeping rates steady and believes any tariff impacts on prices would be minimal and short-lived.
In a recent congressional trading disclosure, Congresswoman Marjorie Taylor Greene revealed her purchase of stakes in several prominent companies, including Palantir Technologies (PLTR, Financial), Apple (AAPL, Financial), and Intel (INTC, Financial). The investments, made on February 12, ranged from $1,001 to $15,000 each. Greene's portfolio now includes technology giants like Adobe (ADBE), Meta Platforms (META), and Microsoft (MSFT), as well as companies in other sectors such as Devon Energy (DVN) and Goldman Sachs (GS). The disclosure also noted a significant purchase of U.S. Treasury bills valued between $100,001 and $250,000.
Solid Biosciences (SLDB, Financial) experienced a significant premarket jump of approximately 88% after reporting promising early results from its Phase 1/2 trial for SGT-003, a gene therapy for Duchenne muscular dystrophy. The trial showed an average microdystrophin expression of 110% in the first three participants, with no serious adverse events reported. The company plans to dose about 20 patients by the fourth quarter of 2025.
GeneDx Holdings (WGS, Financial) announced a strong performance in its Q4 results, with an adjusted net income of $16.8 million and revenue of $95.64 million, marking a 66.6% year-over-year increase. The company also provided a positive revenue outlook for FY 2025, projecting between $350 million and $360 million, surpassing the consensus estimate of $338.77 million.
Herc Holdings (HRI, Financial) has entered into a binding agreement to acquire H&E Equipment Services (HEES, Financial) for a consideration of $104.89 per share. This deal allows H&E shareholders to receive $78.75 in cash and 0.1287 shares of Herc common stock for each share. United Rentals (URI, Financial) decided not to revise its proposal for acquiring H&E, allowing H&E to terminate its previous merger agreement with URI.
Medtronic (MDT, Financial) traded lower despite reaffirming its full-year outlook amid a competitive landscape in the pulse field ablation market. The company is poised to consolidate its market position after rival J&J faced a temporary setback with its Varipulse Pulsed Field Ablation Platform.
Intel (INTC, Financial) shares saw a boost following a Wall Street Journal report indicating possible deals with Taiwan Semiconductor Manufacturing (TSM, Financial) and Broadcom (AVGO, Financial). The report suggested that Broadcom is interested in Intel's chip design and marketing business, while TSMC is eyeing its manufacturing facilities.
Robinhood Markets (HOOD, Financial) is expanding its crypto offerings to Singapore, following its acquisition of Bitstamp. The move is part of Robinhood's global expansion strategy, leveraging Bitstamp's licenses and institutional business to enhance its presence in the digital assets market.
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