Dow Jones Today: Stock Futures Fall, Oil Prices Rise After Trump Leaves G-7 Meeting Early to Address Israel-Iran Conflict
Verve Therapeutics Soars as Eli Lilly Buys Gene Editing Firm
9 minutes ago
Shares of Verve Therapeutics (VERV) skyrocketed 75% early Tuesday after Eli Lilly (LLY) announced that it would acquire the gene-editing startup for about $1.3 billion.
Eli Lilly said it will pay $10.50 per share to Verve shareholders initially, with a $3-per-share contingent value right (CVR) potentially paid out if Verve treats at least one patient with gene-editing medicine VERVE-102 for atherosclerotic cardiovascular disease (ASCVD) in a Phase 3 clinical trial within a decade of the deal’s closing or termination of the CVR. The transaction is expected to close in the third quarter this year.
VERVE-102 currently “is being evaluated in a Phase 1b clinical trial study and has been granted Fast Track designation by the U.S. Food and Drug Administration,” Lilly said.
“Verve was founded with one mission in mind: transform the treatment of cardiovascular disease from chronic care to a one-dose future,” Verve CEO Dr. Sekar Kathiresan said. “In just seven years, our team has progressed three in vivo gene editing products, with two currently in the clinic. Now, we will take the next steps in the drug development journey together with an ideal strategic partner in Lilly.”
The Financial Times reported late Monday that the companies were close to a deal.
Eli Lilly shares, which entered Tuesday up roughly 5% this year, were down 1.5% about 15 minutes after the opening bell. Verve stock entered the day up 11% in 2025.
Meta is the Biggest Mag 7 Gainer in 2025—Watch These Levels
32 minutes ago
Meta Platforms (META) shares were little changed before the opening bell on Tuesday after surging Monday following news the tech giant plans to introduce paid advertising to WhatsApp, a move that expands the company’s revenue-generating opportunities.
The company, which expects to launch several advertising features globally over the next few months, said that it’s introducing channel subscriptions, promoted channels, and ads to its WhatsApp Updates tab, which it says attracts about 1.5 billion users daily.
Meta shares, which rose nearly 3% to close around $702 on Monday, have gained 20% since the start of the year and are just 5% below their record high, set in mid-February, as of Monday’s close. The stock, which is the top performing member of the Magnificent Seven so far in 2025, has impressed investors with strong AI-driven ad revenue growth and plans to significantly expand its AI capacity.
After reclaiming the 50- and 200-day moving averages, Meta shares consolidated within a pennant before decisively breaking out from the pattern earlier this month. Moreover, the relative strength index confirms bullish price momentum and sits below the indicator’s overbought threshold to provide room for further upside.
However, it’s worth noting that stock’s rally from its April low has occurred on declining trading volume, suggesting that larger market participant, such as institutional investors, remain on the sidelines.
Investors should monitor important overhead areas on Meta’s chart around $741 and $865, while also watching key support levels near $635 and $603.
Read the full technical analysis piece here.
Solar Stocks Sink on Removal of Tax Credits
1 hr 11 min ago
Solar stocks tumbled Tuesday after the Senate maintained the full removal of clean-energy tax credits in the budget bill, even as it reportedly extended the time frame for the phaseout beyond the House’s bill.
Shares of SunRun (RUN) and SolarEdge Technologies (SEDG) each plunged more than 30% in premarket trading, while Enphase Energy (ENPH) and First Solar (FSLR) were each down about 20%.
Solar stocks were hammered last month after the House passed a tax and spending bill that would end tax credits for wind and solar projects in 2029, years earlier than a previous version of the bill. Citi analysts said Tuesday that the measures in the Senate’s bill were “a slight improvement” on the previous plan to terminate credits for projects that weren’t in place by the end of 2028 “but is far more restrictive than the original bill’s phase out starting in 2029 and elimination of credits in 2032.”
The analysts stuck to their sell rating on residential solar stocks, adding they expected a “sharp pullback” in shares of SunRun, SolarEdge Technologies, and Enphase Energy. The analysts said that the Senate bill “also creates significant headwinds for storage” stocks like Enphase, SolarEdge and Fluence Energy (FLNC). Fluence shares were up 7% in premarket trading.
Major Index Futures Point to Lower Open
1 hr 35 min ago
Futures tied to the Dow Jones Industrial Average were down 0.4%.
TradingView
S&P 500 futures also declined 0.4%.
TradingView
Nasdaq 100 futures slipped 0.5%.
TradingView