EchoStar Soars; US Steel Rallies; Sarpeta Plunges

Stock Movers

On this episode of Stock Movers:
- EchoStar (SATS) is soaring this morning as President Trump urges the company to make a deal with the FCC for its wireless spectrum licenses. The president met with EchoStar Chairman Charlie Ergen and Carr at the White House, encouraging them to work together and reach a deal. The FCC is investigating whether EchoStar is meeting obligations for its wireless and satellite spectrum rights, and the company has been skipping bond coupon payments and considering filing for bankruptcy.
- US Steel (X) is rallying today as Nippon Steel secured approval from President Trump to purchase United States Steel Corp. for $14.1 billion, its biggest ever overseas bet. The deal comes with significant concessions to the US government, including a "golden share" that gives Washington a say in major decisions and control over some board seats, and a promise to invest $14 billion over the coming years.
- Roche (RHHBY) is slightly down, but its partner Sarpeta Therapeutics (SRPT) is plunging on news that a second patient has died of acute liver failure while being treated with Sarepta Therapeutics Inc.'s gene therapy for a rare muscle disorder, following a similar death three months prior. The development has cast a pall over Sarpeta's most important drug and will intensify scrutiny on the FDA over its decision to approve it, despite a lack of data showing it slows overall progression of the disease.
- Victoria's Secret (VSCO) is up on news Barington Capital Group has built a stake in Victoria's Secret & Co. and plans to urge changes to its board and strategy. The company is under pressure to grow sales amid new competition, and its shares have declined 56% this year through Friday. The company has faced challenges, including tariffs, weakening consumer spending, and a security incident that took its e-commerce operation offline, affecting its goal to regain dominance in bras.

See omnystudio.com/listener for privacy information.

2025-06-16 4 min Transcript

Available Results

Generated results are saved to your library for reuse and search.

No generated results are available for this episode yet.

Transcript

Open the Transcript tab to load the transcript.

Chapters

No chapters available.