Biocon approves plan to raise $527 million
Recently, Biocon Biologics had inked a settlement and licensing pact with Regeneron, paving the way to commercialise its biosimilar product Yesafili in the US.
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Time of India
2 days ago
- Time of India
US Stock market future today: Dow, S&P 500 and Nasdaq futures flat as US-China trade talks continue and investors await key CPI inflation data
US stock market future today: Dow, S&P 500 and Nasdaq futures hold steady as investors await US-China trade deal progress- US stock market futures traded in a narrow range on Tuesday, with investors cautiously watching the second day of US-China trade talks unfold. After a positive start to discussions, traders are waiting to see if any concrete progress will be made, particularly around rare earth minerals access, which has become a key sticking point. Futures tied to the Dow Jones Industrial Average (YM=F), S&P 500 (ES=F), and Nasdaq 100 (NQ=F) were mostly flat in early morning trading. This hesitant tone reflected the market's uncertainty about whether this round of trade negotiations will lead to any breakthroughs — or just more delays. Major U.S. Indices & Futures (Premarket – June 10, 2025) Index/Future Status Dow Jones Futures Slightly lower (~–0.06 %) S&P 500 Futures Flat to marginally positive (+0.00 %) Nasdaq Futures Up around +0.07 % (tech‑led optimism) Premarket Top Gainers Insmed Inc. (INSM) : +17.1 % Casey's General Stores (CASY) : +10.2 % Summit Therapeutics (SMMT) , Circle Internet Group (CRCL) , IDACORP (IDA) : each up ≥3 % From broader premarket screen: Evogene (EVGN) : +164 % Magic Empire Global (MEGL) : +128 % Carisma Therapeutics (CARM) : +77 % Premarket Top Losers United Therapeutics (UTHR) : –12.9 % J.M. Smucker Co. (SJM) : –7.9 % Others from broader list: Unicycive Therapeutics (UNCY) : –45 % Baiya International (BIYA) : –40 % Calavo Growers (CVGW) : –14 % Yesterday's Regular Session Highlights (June 9, 2025) S&P 500 : +0.09 %, closing around 6,005.9 Dow Jones : Flat, around 42,761.8 Nasdaq Composite : +0.31 %, near 19,591.2 Top gainers (S&P 500) : Helmerich & Payne : +5.43 % Vornado Realty Trust : +5.26 % Regeneron : +5.02 % AMD : +4.72 % Tesla : +4.36 % Top losers (S&P 500) : Live Events Edison International : –8.05 % PG&E : –6.60 % Universal Health Services : –6.18 % Intuitive Surgical : –5.58 % Mosaic : –5.01 % Dow gainers : Boeing +3.07 %, Dow Inc +2.87 %, Intel +1.94 %, Amazon +1.51 %, Disney +1.49 % Dow losers : Travelers –2.19 %, Nike –1.45 %, Apple –1.37 %, Visa –1.04 %, 3M –0.93 % Nasdaq gainers : Regeneron +5.02 %, AMD +4.72 %, Tesla +4.36 %, Qualcomm +4.12 %, Texas Instruments +3.49 % Nasdaq losers : Intuitive Surgical –5.58 %, T‑Mobile –3.28 %, ADP –2.60 %, Netflix –1.46 %, Apple –1.37 % Why are US-China trade talks causing market caution? The latest round of US-China trade negotiations resumed in London on Tuesday morning. Following an encouraging first day, both sides are now grappling with more difficult issues — including the US push for better access to China's rare earth mineral supply chain. These minerals are critical for technology, electric vehicles, and defense manufacturing. While White House officials sounded optimistic on Monday, President Trump later warned that "China's not easy" to deal with. That mixed messaging has left investors on edge. The last few years have shown how quickly tariffs and tensions between the US and China can send global markets swinging. Market Overview Futures and ETFs are mostly subdued , with S&P‑500‑tracking SPY nearly flat, Dow‑tracking DIA dipping slightly, and QQQ (Nasdaq‑100) modestly positive. This calm premarket behavior reflects investor caution amid day‑two U.S.–China trade talks in London. What happened to Chinese stocks amid the talks? Ahead of Tuesday's trade discussions, Chinese stocks saw a sharp decline, reflecting nervous sentiment among local investors. According to Bloomberg, Fu Shifeng, investment director at Cheng Zhou Investment, commented that 'the market is too sensitive… people seem to be speculating that the talks didn't go well.' This sudden drop suggests that optimism about a deal is thin, and the lack of transparency around the talks is adding to the volatility. With no clear signals yet, traders are bracing for anything. How are small businesses reacting in the US? Amid all the trade uncertainty, a small glimmer of positivity came from the NFIB (National Federation of Independent Business). Their May survey showed a rise in small-business optimism, the first increase since September. The report cited the current trade truce with China as one reason behind the boost in confidence. However, that optimism is also being tested. Concerns are growing over President Trump's massive tax-and-spending proposals, which many business owners feel could raise the national debt and increase inflation. Key Drivers U.S.–China Trade Negotiations : Futures show minimal movement, echoing mixed signs of progress as both sides look to ease export controls in return for rare-earth supply concessions. Precedence of U.S. Inflation Data : The market is eagerly awaiting the Consumer Price Index on Wednesday, which could significantly influence rate expectations. Sector-Specific Movers : Growth in semiconductor stocks like TSMC is propping up the tech-heavy Nasdaq futures. Apple fell slightly after its WWDC updates, while Meta's AI announcement also captured investor attention What are analysts watching next in the stock market? The next big moment for investors is the release of the May Consumer Price Index (CPI) data, expected on Wednesday. This inflation report is crucial, especially as the Fed continues weighing future interest rate decisions. Analysts predict that price pressures picked up in May, possibly fueled by trade uncertainty and higher import costs. A hotter-than-expected CPI reading could spook markets further, especially tech stocks which are more sensitive to interest rate shifts. What's the big takeaway for investors right now? Markets are walking a tightrope. US-China trade talks have the potential to ease global tensions and lift investor sentiment — but only if they show meaningful progress. At the same time, inflation data, US fiscal policy concerns, and overseas market volatility are keeping things tense. For now, investors are taking a wait-and-see approach. Futures are flat, volatility is rising in Asia, and every headline from London could move the needle. The next 24–48 hours could be critical in setting the tone for the markets this week. FAQs: Q1: What's moving the stock market today during the US-China trade talks? Ongoing US-China talks and inflation worries are keeping stock futures flat and investors cautious. Q2: Why are investors watching the May CPI report closely? The CPI report could reveal rising inflation, which may affect Fed rate decisions and stock market direction.
Mint
05-06-2025
- Mint
Genetic testing company 23andMe to re-auction over 15 million customers' DNA data with bid starting at $305mn — Details
Bankrupt genetic analysis company 23andMe said it will conduct a second auction for its DNA data cache, with an opening bid of $305 million from former CEO Anne Wojcicki, Bloomberg reported. 23andMe built its fame by providing medical and ancestry-related genetic testing to over 15 million customers. It has nearly 5,50,000 subscribers, but filed for bankruptcy saying this was not enough to keep the business afloat, the report added. Notably, this new offer is around $50 million higher than the last bid (which was $256 million) won by Regeneron Pharmaceuticals in May 2025. The result of that auction, conducted over three days, was challenged by Wojcicki, who argued that bidding was unfairly closed to favor Regeneron. This auction comes as a compromise between the three parties, after Wojcicki, Regeneron and 23andMe attended a hearing in the matter at a federal court in St Louis on June 4, as per the publication. Hearing the case, US Bankruptcy Judge Brian Walsh asked Regeneron and 23andMe to justify the limits they wanted to set for the second auction process. Company attorney Christopher Hopkins told Judge Walsh that under the new rules, Wojcicki and her partner, a California-based research institute, would make a bid of $305 million, which Regeneron can counter with at least $315 million. Hopkins added that Wojcicki and the research institute would be then allowed to make another bid, post which, Regeneron gets the chance to make the last offer of the auction. The case is 23andMe Holding Co., number 25-40976, in the US Bankruptcy Court for the Eastern District of Missouri, the report added. Amid the bankruptcy and auction news, a host of 23andMe's customers and government officials have raised an alarm over protection and security of the years of DNA data held by the company. The business worked by collecting saliva samples from customers, which was used to extract DNA and then trace one's ancestry or certain health-related genetic traits. The mail-back saliva test cost less than $200. Both Regeneron and Wojcicki have pledged to comply with 23andMe's privacy policy, based on which customers had submitted their samples. The policy allows customers to get their personal information deleted on request. The pioneering company on March 23, 2025, said that it had 'filed a voluntary petition for reorganisation' with a state bankruptcy court in Missouri, USA. Notably, just months before 23andMe declared backruptcy, and tried to attact buyers, it was hit with a class-action lawsuit due to a 2023 data breach that gave hackers access to customer information. Settlement from those claims is also likely to be addressed during the bankruptcy process, the report said. (With inputs from Bloomberg)
Mint
04-06-2025
- Mint
23andMe Judge Questions Limits for New Auction for Bankrupt Firm
(Bloomberg) -- The judge overseeing the bankruptcy of 23andMe questioned the limits proposed for a second auction that is designed to push bids higher than a current $256 million offer from Regeneron Pharmaceuticals for the genetic-testing firm. US Bankruptcy Judge Brian Walsh asked lawyers for Regeneron and 23andMe to justify the limits they're supporting, but which have been criticized by the only other bidder, a California-based research institute backed by former 23andMe Chief Executive Officer Anne Wojcicki. Walsh has to decide whether to limit the auction in a way that gives Regeneron the chance for a final bid, but not Wojcicki and TTAM Research Institute. The current proposed rules for the auction appear to be 'inefficient,' said Walsh, who also questioned a $10 million breakup fee payable to Regeneron if it loses. All sides were present during a federal court hearing in St. Louis on Wednesday to determine how to revive bidding, after 23andMe held an auction last month that the company initially claimed that Regeneron won with a $256 million final bid. Wojcicki objected after the auction, arguing the bidding was unfairly closed in order to favor Regeneron. The current proposal is 'one-sided with a last look for Regeneron,' Wojcicki's lawyer, Susheel Kirpalani, told Walsh. 'There is absolutely not a level playing field.' Last month's auction lasted three days with each side accusing 23andMe of unfairly favoring their competitor, company bankruptcy attorney Christopher Hopkins said in court. Afterward, TTAM and Wojcicki made a bid that was 'substantially higher' than Regeneron's, he said. 23andMe then proposed a new, final bidding round with the current limits, which Regeneron accepted, but which Wojcicki opposes. Without the limits, Regeneron may cancel its $256 million bid, Hopkins argued. That would mean no more offers would come in allowing TTAM and Wojcicki to get 23andMe for $156 million, since that was their last, binding bid before the auction ended. A wave of customers and government officials have demanded that 23andMe protect the genetic data it had built up over the years by collecting saliva samples from customers. Both bidders have pledged to comply with 23andMe's privacy policy, which allows customers to have their personal information deleted upon request. 23andMe filed for bankruptcy in March after failing to generate sustainable profits by providing medical and ancestry-related genetic testing to more than 15 million customers. About 550,000 people had subscribed to the company's two primary services, which hasn't been enough to keep the company afloat. One of those services, Lemonaid Health, was not part of the sale and will be wound down, 23andMe said in a statement. In the months leading up its bankruptcy, 23andMe tried to attract a buyer while struggling to end a class-action lawsuit related to a 2023 data breach that gave hackers access to customer information. The company will try to resolve those claims as part of the bankruptcy. The case is 23andMe Holding Co., number 25-40976, in the US Bankruptcy Court for the Eastern District of Missouri. --With assistance from Georgia Hall. More stories like this are available on
