Key Points To Watch Out For:

• Sarepta shares drop 37% after stopping joint therapy with Roche.
• Kering rises 10% after appointing a new CEO; Renault falls for the same reason.
• U.S. Steel shares bounce back after Nippon clears the way for its purchase.

Victoria’s Secret (VSCO): Activist Pressure Boosts Value

Victoria’s Secret shares rose 2.5% in early trading after news that an activist investor had taken a meaningful stake in the company. The investor is reportedly pushing for changes to the board of directors and wants to redirect strategic focus back to the core lingerie business—long the brand’s most profitable segment. Pre-market trading volume was low, which may indicate speculative buying interest.

Renault (RNO): Loses CEO and Stock Price Falls

The French automaker dropped 6.5% on the Paris stock exchange following the announcement that its chief executive will step down in mid-July. The executive will assume the CEO role at Kering, the luxury conglomerate that owns brands like Gucci. Meanwhile, Kering shares surged 10%, reflecting investor optimism that new leadership could drive a successful turnaround in the luxury sector.

Roche (CH:RO): Adverse Effects Impact Partners and Markets

Roche has temporarily halted the use of Elevidys, an experimental gene therapy for Duchenne muscular dystrophy, after two reported deaths due to liver failure. Roche shares slipped on the Swiss stock exchange, while its U.S. partner, Sarepta Therapeutics, plummeted 37% in pre-market trading. The development raised concerns across the biotech sector, also affecting other firms working on similar therapies.

U.S. Steel (X): Agreement Reached Boosts Price

U.S. Steel shares rebounded 5% in pre-market trading after the U.S. government and Nippon Steel reached an agreement addressing national security concerns. The deal paves the way for the Japanese firm to proceed with its acquisition of the American steelmaker. Nippon shares also rose 1.5% on the Tokyo Stock Exchange, buoyed by the anticipated completion of the deal in the coming days.

Santos (AU:STO): Billion-Dollar Offer Sparks Interest

Australia’s Santos, the country’s second-largest oil and gas producer, surged nearly 11% after receiving a takeover bid exceeding $18 billion from a consortium led by Abu Dhabi National Oil Co. The market welcomed the offer, viewing it as one of the most significant M&A deals of the year and a sign of further consolidation among major energy producers amid ongoing oil market volatility.

Lennar (LEN): Results in Focus

Miami-based homebuilder Lennar is scheduled to report its earnings after the market closes. The report is expected to highlight the tension between high interest rates and ongoing housing demand, particularly in the southern U.S. where Lennar has a strong market presence. Investors are keen to hear updated guidance for the second half of the year.