Stocks making the biggest moves premarket: U.S. Steel, Roku, Celsius, Sarepta Therapeutics and more
Check out the companies making headlines before the opening bell on Wall Street. U.S. Steel — U.S. Steel shares jumped 5%s after President Donald Trump issued an executive order on Friday approving its merger with Japan's Nippon Steel. The companies also signed a national security agreement that includes a golden share for the U.S government. Although U.S. Steel did not specify what powers the government would wield with its share, Trump said on Thursday that the golden share gives the U.S. president " total control ." Roku — The streaming platform jumped 8.5% after announcing an exclusive partnership with Amazon that gives advertisers access to what the two called "the largest authenticated footprint in connected TV ." The agreement enables advertisers to reach roughly 80 million U.S. households through the Amazon platform. Advanced Micro Devices — The chipmaker added more than 2% after a price target increase from Piper Sandler. After AMD's quarterly pre-quarter close call on Friday, Piper said it expects AMD's AI business to surge after the third quarter when China-related charges have passed, and noted increased conviction among investors about a key hyperscaler client. EchoStar — The satellite company jumped more than 40% after Bloomberg News reported late Friday that President Donald Trump had pushed the head of the Federal Communications Commission to resolve a spectrum dispute. The company has threatened to file for bankrupty protection and claims FCC threats blocked its ability to decide on a 5G network buildout. Celsius — Shares of the energy drink company rallied about 4% after TD Cowen upgraded the stock to buy from hold , saying its "growth story is heating back up" and shares should trade higher this year. The investment bank said it confident in the Celsius brand, smooth integration of the company's Alani Nu acquisition and wider distribution next year. Victoria's Secret — Shares added 3% following a report that activist investor Barrington Capital Group has built a stake in the retailer. Barrington intends to push Victoria's Secret to overhaul its board and refocus its business, the Wall Street Journal said, citing unnamed sources. Sage Therapeutics — Sage soared 35% after agreeing to be acquired by Supernus Pharmaceuticals in a deal worth $12 a share, or $795 million. The deal would accelerate diversify Supernus' revenue base and add FDA-approved postpartum depression drug treatment Zurzuvae, according to a statement. Sage shareholders would receive $8.50 a share in cash and a non-tradable contingent value right payable upon certain specific milestones worth up to $3.50 per share. Sarepta Therapeutics — The biopharmaceutical company plunged more than 37% after Sarepta reported the death of a second patient receiving its Elevidys gene therapy for Duchenne muscular dystrophy. Sarepta halted shipments of Elevidys and is taking steps to improve safety for non-ambulatory patients. — CNBC's Jesse Pound and Michelle Fox contributed reporting.
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