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Max Knoblauch2h

Ford’s energy rally revs up again on 5-year supply deal with EDF

Ford’s energy rally — which last week saw it log its best trading day since March 2020 and add about $10 billion in market cap before paring gains on Friday — appears to be kicking off again.

On Monday, the company’s energy business announced a five-year supply deal with a subsidiary of EDF.

Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.

Ford shares were up 6.8% in recent premarket trading on the announcement.

Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”

Ford Energy and EDF power solutions North America Announce Five-Year Framework Agreement

Ford Energy and EDF power solutions North America Announce Five-Year Framework Agreement

Under the deal, Ford will provide EDF power solutions North America with up to 4 gigawatt-hours of battery energy storage systems per year for five years beginning in 2028.

Ford shares were up 6.8% in recent premarket trading on the announcement.

Both Tesla and GM operate similar energy storage businesses, giving the automakers some level of exposure to the AI data center trade. Last week, Morgan Stanley wrote that “there is a fairly high likelihood that Ford signs an [energy storage system] supply agreement with large commercial customers, and potentially hyperscalers, over the next few months.”

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Regeneron sinks as Phase 3 skin cancer treatment trial fails

Regeneron is sinking in premarket trading after announcing its late-stage skin cancer treatment failed to meet its primary goal in a Phase 3 trial.

The pharma giant reported no statistically significant improvement in progression-free survival for patients with advanced melanoma. This late-stage trial failure could be a blow to Regeneron’s oncology expansion strategy, where it hoped to challenge competing treatments like Merck’s Keytruda.

The clinical setback is triggering immediate price target cuts across Wall Street from the likes of BMO Capital, Citi, RBC Capital, Evercore ISI, and Leerink Partners.

“This was to be the defining catalyst of 1H26, with share sentiment inextricably tied to this release,” BMO Capital analyst Evan David Seigerman commented in a note, per Bloomberg.

Seeking to shift investor sentiment, Regeneron announced a major collaboration with Parabilis Medicines, paying $125 million up front with the potential for up to $2.2 billion in milestone payments to combine its antibody platform with Parabilis’ peptide technology.

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LiveRamp surges on $2.54 billion all-cash buyout by Publicis Groupe and Q4 earnings results

LiveRamp’s shares are surging in premarket trading following an announcement over the weekend that French advertising company Publicis Groupe will acquire the data collaboration platform for $38.50 per share in an all-cash deal. The transaction values LiveRamp at a total equity value of $2.167 billion.

The buyout marks a massive consolidation in the advertising technology space. Under the terms of the agreement, Publicis will fund the acquisition using cash on hand and debt. The transaction has been unanimously approved by both boards of directors and is expected to officially close by the end of calendar year 2026, subject to regulatory and shareholder approvals.

“This transaction reflects the strength of our business, the value of our platform and the strategic role LiveRamp plays in an AI-driven market,” Scott Howe, CEO of LiveRamp, commented in the statement.

Following the news, LiveRamp also delivered Q4 results for its fiscal year 2026. Total revenue for the quarter rose 9% year over year to $206 million. Growth was driven primarily by subscription revenue, which also jumped 9% to $158 million.

For full fiscal year 2026, net cash provided by operating activities reached a record $168 million. LiveRamp repurchased approximately 7.1 million shares for $194 million during fiscal 2026, leaving $262 million in remaining capacity under its current share authorization program.

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UnitedHealth falls after Berkshire dumps its stake while picking up Macy’s and Delta

UnitedHealth fell more than 5% in premarket trading Monday after Berkshire Hathaway disclosed Friday that it had fully exited its stake in the health insurer.

According to Berkshire’s latest 13F filing, which shows holdings as of March 31, the conglomerate sold its entire ~5 million-share stake in UnitedHealth — less than a year after first buying the stock in the second quarter of 2025 — as part of a broader portfolio overhaul under Greg Abel, who succeeded Warren Buffett as CEO on January 1.

UnitedHealth shares have been volatile over the past year amid concerns over rising medical costs and DOJ scrutiny of its billing practices — though its latest earnings report showed signs of stabilization, with the company beating Q1 earnings estimates and raising its full-year profit outlook.

Berkshire also fully exited positions in a number of other stocks in the first quarter, including Amazon, Domino’s, Pool Corp, Mastercard, and Visa, all of which were mildly in the red in early trading.

Meanwhile, Berkshire added Delta Air Lines and Macy’s to its equity portfolio, while boosting stakes in Alphabet and The New York Times.

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Claire Yubin Oh4h

NextEra reportedly in talks to acquire Dominion, valuing the company at around $66 billion

Dominion Energy soared 12% in premarket trading on Monday on reports that NextEra Energy is in advanced talks to acquire the company in a deal that would create a more than $400 billion utility giant (including debt), as suppliers race to meet growing demand to power AI data centers.

The mostly stock deal would value Dominion at about $76 per share, or around $66 billion, and see NextEra exchange about 0.8 per share for each outstanding share of Dominion, Bloomberg reported, citing people familiar with the matter. The arrangement, which requires federal and local approvals but could be announced as soon as today, would leave NextEra shareholders with about 75% of the combined company as well as a small additional cash component.

Including debt, the deal values Dominion at ~$116 billion and would land as the largest power tie-up on record — underscoring the scale and scope of today’s energy businesses in the age of AI.

NextEra Energy, America’s biggest utility company, with an enterprise value of more than $300 billion, has seen its valuation lead over its rivals narrow in recent years. Buying Dominion, which is worth ~$111 billion including debt, would allow NextEra to reach deeper in PJM Interconnection. Importantly, PJM is the country’s largest electric grid and covers Virginia, which has America’s biggest concentration of data centers.

Tasha Matsumoto

Stocks slide on inflation fears as oil climbs

Tech fell and oil rose, while investors grew concerned that oil supply disruption from the ongoing closure of the Strait of Hormuz could drive inflation.

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