Stock futures were largely unchanged Monday premarket, with market participants positioning ahead of the Federal Reserve’s interest rate verdict and heavy earnings calendar.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
- USA Rare Earth (USAR) +51% – Shares jumped following a report that the Trump administration is set to invest $1.6B in the company for a 10% equity stake, the largest U.S. government commitment to the rare earth sector to date. The government is expected to receive 16.1M shares and warrants for an additional 17.6M shares at $17.17 each, alongside $1.3B in senior secured debt financing funded through a CHIPS Act–supported Commerce Department facility. A separate $1B private funding round led by Cantor Fitzgerald is also slated to be announced today. The move underscores the administration’s escalating intervention in strategically important minerals, following similar equity stakes taken last year in MP Materials (MP), Lithium Americas (LAC), and Trilogy Metals (TMQ).
- Baker Hughes (BKR) +3% – Shares rose after the company beat Q4 expectations, highlighted by flat revenue of about $7.4B in Q4 and strong profitability metrics that exceeded expectations. Fourth-quarter orders reached $7.9B, including $4.0B in Industrial & Energy Technology (IET) bookings, and the company ended the year with a record RPO/backlog of $35.9B, underscoring multi-year demand visibility. Free cash flow remained robust at $1.34B in Q4 and a record $2.73B for the full year, reflecting strong cash generation even as traditional oilfield services remained softer. Management expects ongoing strength in IET orders and mid-single-digit organic EBITDA growth in 2026.
Biggest stock losers
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Revolution Medicines (RVMD) -24% – Shares sank after the Wall Street Journal reported that Merck (MRK) is no longer in talks to acquire the biotech firm. The companies had recently discussed a deal valuing RVMD at roughly $30B, but negotiations stalled over price. While talks have ended for now, they could resume, and other bidders may surface, especially with key pancreatic and colorectal cancer trial readouts expected in the first half of the year, which could reshape interest in the company.