US Premarket: Index Tension and Pharma Showdown
Futures Performance
- Dow Jones: -0.44%
- S&P 500: -0.39%
- Nasdaq 100: -0.56%
Top Gainers
- Vanda Pharmaceuticals (+33%): Massive surge after FDA approves Bysanti for schizophrenia and bipolar disorders.
- Veris Residential (+13.3%): Buyout confirmed by Affinius Capital at $19 per share, representing a 23.2% premium over the February 4th closing price.
- Eli Lilly (+2.34%): Strengthens its position following a clinical setback for rival Novo Nordisk.
Top Losers
- Novo Nordisk (-10%): Major clinical setback; CagriSema failed to meet objectives compared to Eli Lilly's treatment.
- Packaging Sector: Smurfit Westrock (-6.54%) and Packaging Corp (-5.59%) among the steepest declines.
- VF Corp (-4%): Downgraded by JPMorgan, which lowered its earnings per share forecasts for 2027 and 2028.
Macro Context
Uncertainty is returning to the markets after Donald Trump announced his intention to raise the global customs tariff to 15% (instead of 10%). This follows the Supreme Court invalidating most tariffs imposed last year. In the bond market, the 10-year yield eased slightly to 4.08%.
Corporate News
- Paramount / WBD: Paramount (PSKY) may offer $32 per share for HBO (Warner Bros. Discovery). Netflix has officially stated it does not wish to "overpay" for this deal.
- ServiceNow & TCS: Multi-year alliance to accelerate the adoption of agent-based AI. TCS is now the world's largest user of ServiceNow's asset management solutions.
