Pre-Bell｜Wall Street Futures Inch Up; Celcuity Shares Surged 50%; UAMY Surged 14%; Exelixis Down 10%

Wall Street futures edged higher on Monday, as investors awaited earnings from corporate heavyweights and a delayed inflation report that could trigger fresh market moves later this week.

Market Snapshot

At 08:22 a.m., Dow E-minis were up 99 points, or 0.21%, S&P 500 E-minis were up 22.25 points, or 0.33%, and Nasdaq 100 E-mini were up 105 points, or 0.42%.

Pre-Market Movers

Nvidia was down 0.3%. The leading maker of artificial-intelligence chips on Friday unveiled the first Blackwell wafer produced in the U.S., made at Taiwan Semiconductor Manufacturing's facility in Phoenix. "This is the vision of President Trump of reindustrialization -- to bring back manufacturing to America, to create jobs, of course, but also, this is the single most vital manufacturing industry and the most important technology industry in the world," said Nvidia CEO Jensen Huang in a statement. U.S.-listed shares of TSM gained 2.4%.

United States Antimony said Sunday it submitted a nonbinding proposal to fully acquire Larvotto Resources. United States Antimony shares were up 14% in recent premarket activity Monday.

Exelixis on Monday reported detailed results of a phase 3 trial of zanzalintinib in combination with atezolizumab versus regorafenib in patients with previously treated non-microsatellite instability-high metastatic colorectal cancer. Exelixis shares were down 10% in recent premarket activity.

Celcuity Inc. announced the full enrollment of the PIK3CA mutant cohort in its Phase 3 VIKTORIA-1 clinical trial. Celcuity shares surged 50% in premarket trading.

Boeing traded flat. The aerospace giant will be allowed to increase production of its 737 MAX to 42 planes a month from 38, a cap that was put in place after an emergency door plug blew out of a 737 MAX 9 jet operated by Alaska Air in January 2024. Boeing delivered 387 MAX jets in 2023, before the door plug incident. It delivered 260 MAX jets in 2024 and is expected to deliver about 450 MAX jets this year.

cleveland-cliffs gained 8.5% after the steel maker said it was exploring ways to produce rare-earths minerals from its iron ore deposits. For the third quarter, Cleveland-Cliffs posted adjusted Ebitda of $143 million, topping analysts' calls for $128 million, and sales of $4.7 billion, narrowly beating expectations of $4.5 billion.

Cooper jumped 5.4% after The Wall Street Journal reported activist investor Jana Partners has built a stake in the company and plans to push for strategic alternatives, including a potential deal to combine Cooper's contact-lens unit with rival Bausch + Lomb. The report cited people familiar with the matter. Bausch + Lomb CEO Brent Saunders told the Journal he would be interested in such a combination.

Amazon.com rose slightly. A major Amazon Web Services outage disrupted much of the internet early Monday, including apps such as Snap, Coinbase, Roblox, and McDonald's. The world's largest cloud provider first reported increased error rates for multiple AWS services in its "US-East-1 region" shortly after 3 a.m. Eastern time Monday. While most operations were recovered by 7 a.m. AWS said it was still working toward a full recovery.

Hologic climbed 5.8%. Blackstone and TPG are in advanced talks to acquire the maker of medical devices in a deal valuing Hologic at $17 billion including debt, Bloomberg reported, citing people familiar with the matter.

Skyworks Solutions was flat. Analysts at Mizuho Securities downgraded shares of the smartphone chip maker to Underperform from Neutral, citing a projected decline in iPhone shipments in 2026 and a challenging Chinese smartphone market.

Netflix is scheduled to report third-quarter earnings after the closing bell Tuesday. Shares of the streaming company rose 1.3% on Friday and snapped a five-session losing streak. Coming into Monday, Netflix has risen nearly 35% this year, according to Dow Jones Market Data. The stock gained 0.3% in premarket trading.

Tesla Motors rose 1% to $433.50. The electric-vehicle maker is scheduled to report third-quarter earnings after the markets close on Wednesday. Tesla gained 2.5% on Friday, shaking off a Sell rating from BNP Paribas Exane analyst James Picariello. The finished the past week up 6.2%. On Sunday, Wedbush analyst Dan Ives said "we are finally starting to see stable demand trends for Tesla" after what he called a "brutal few quarters." Ives rates Tesla shares a Buy with a $600 price target, the highest on Wall Street.

Market News

Ripple-backed Evernorth set to raise over $1 billion in US listing to hoard XRP token 

Evernorth, a new crypto venture backed by digital asset firm Ripple, said on Monday it will list on the Nasdaq through a merger with blank-check firm Armada Acquisition Corp II and is expected to raise more than $1 billion in proceeds.

The digital asset treasury will focus on accumulating XRP, a token linked to Ripple and the fifth-largest cryptocurrency by market cap, according to data from CoinGecko.

Kering sells beauty unit to L'Oreal for $4.7 billion as de Meo trims debt

Gucci owner Kering has agreed to sell its beauty business to L'Oreal for 4 billion euros ($4.66 billion), in a major shift in strategy by new CEO Luca de Meo as he moves to tackle the luxury group's high debt and refocus on its core fashion business.

Under the deal, French beauty giant L'Oreal will acquire Kering's fragrance line Creed, which former CEO Francois-Henri Pinault acquired in 2023 for 3.5 billion euros, as well as exclusive rights to develop fragrance and beauty products for 50 years under Kering's fashion labels including Bottega Veneta and Balenciaga.