Regeneron Pharmaceuticals experienced a significant decline of over 11% in premarket trading after its late-stage trial for a skin cancer treatment failed to meet its objectives.
In contrast, Macy's shares rose nearly 4% following a regulatory filing that disclosed Berkshire Hathaway's initiation of a small position valued at approximately $55 million, which is speculated to have been acquired by investment manager Ted Weschler.
Dominion Energy's stock surged more than 12% after NextEra Energy announced an all-stock acquisition deal, which will create the largest regulated electric utility in the world.
Bio Rad Laboratories saw a 13% increase in its stock price after reports indicated that activist investor Elliott Investment Management has acquired a significant stake, although details regarding the size of the stake and Elliott's strategy remain undisclosed. Arm Holdings' shares fell 1% amid a Federal Trade Commission investigation into potential monopolistic practices in the chip market.
Delta Air Lines' stock rose over 1% after Berkshire Hathaway disclosed a substantial $2.6 billion investment in the airline, marking a notable shift since Warren Buffett previously divested from the airline sector. Conversely, UnitedHealth's shares dropped more than 3.5% after it was revealed that Berkshire had sold some of its shares in the insurer.
Salesforce's stock fell 1% after Bank of America reinstated its coverage with an underperform rating, citing concerns about a structural reset due to artificial intelligence impacting growth. ServiceNow's shares increased over 4% after Bank of America reinitiated coverage with a buy rating, suggesting that the company will benefit from AI advancements.
Meanwhile, shares of Coinbase and Robinhood fell following a more than 5% drop in Bitcoin prices, with Coinbase down over 2.5% and Robinhood nearly 2%. Lastly, Ford Motor's stock rose more than 6.5% after announcing a five-year agreement with EDF Power Solutions North America to produce up to four gigawatt hours of battery energy storage systems annually, with deliveries expected to start in 2028