Supernus jumps premarket on merger deal; GameStop drops

Investing.com - U.S. stock index futures advanced on Monday after President Donald Trump said negotiations with Iran were set to begin this week, easing geopolitical concerns that had rattled markets in recent weeks, while technology stocks attempted to extend their recovery following July’s sharp pullback.

The prospect of renewed diplomacy helped improve risk appetite, even as investors continued to assess the outlook for artificial intelligence-linked stocks after a volatile earnings season.

By 07:11 ET (11:11 GMT), S&P 500 futures were up 40 points, or 0.5%, Nasdaq 100 futures had gained 74 points, or 0.3%, while Dow Jones Industrial Average futures rose 482 points, or 0.9%.

Here are some of the biggest premarket U.S. stock movers today:

Supernus Pharmaceuticals surged 20.7% after agreeing to an all-stock merger of equals with Indivior Pharmaceuticals. Under the deal, Supernus shareholders will receive 1.5401 Indivior shares for each share held, while Indivior shareholders will receive a $1 billion special cash dividend before closing. The combined company will retain the Supernus name and continue trading under the SUPN ticker.

Ferguson climbed 7.1% as investors positioned ahead of the building products distributor’s inclusion in the S&P 500 before trading begins on Aug. 5. The index addition is expected to drive buying from passive funds and exchange-traded funds that track the benchmark.

Circle Internet Group fell 5.5% after Morgan Stanley downgraded the stablecoin issuer to Underweight from Equalweight and slashed its price target to $38 from $106. The brokerage warned that slowing growth in USDC supply could expose the company’s reliance on reserve income, prompting it to cut earnings forecasts through 2028.

GameStop slipped 6% after announcing agreements with existing noteholders to exchange approximately $1.4 billion of convertible debt for newly issued Class A common stock. The debt-for-equity swap will not generate any cash proceeds for the videogame retailer but will significantly reduce its outstanding convertible obligations.

Micron Technology eased 2% after Citi removed the memory chipmaker from its catalyst watch list, citing mixed quarterly results from memory semiconductor peers that clouded the near-term outlook for the sector.

XPeng dropped 3.5% after the Chinese electric vehicle maker reported July deliveries of 38,027 vehicles. Although deliveries rose 4% from a year earlier, investors were disappointed that the monthly figure failed to sustain the stronger momentum seen during the second quarter.

Ceribell rose 3% after the U.S. Centers for Medicare & Medicaid Services approved a New Technology Add-on Payment for the company’s Delirium Monitor System. The reimbursement, worth up to $2,171 per eligible Medicare patient case, will take effect on Oct. 1 and follows the device’s FDA clearance late last year.

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