U.S. equity futures eased on Monday after Federal Reserve Chair Jerome Powell revealed that the Justice Department had issued grand jury subpoenas to the central bank, raising the prospect of a criminal indictment.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
- Sun Country Airlines (SNCY) +16.2% – Shares rose as Allegiant Travel Co. (ALGT) agreed to acquire Sun Country in a cash-and-stock transaction valuing the Minneapolis-based carrier at approximately $1.5 billion.
- Walmart (WMT) +2.5% – Walmart (WMT) is sharply expanding its use of drone delivery, aiming to bring aerial drop-offs to tens of millions of U.S. shoppers by partnering more deeply with Wing, a subsidiary of Alphabet (GOOG) (GOOGL). The retailer plans to add drone service at 150 more U.S. stores over the next year, putting it on track to exceed 270 drone-enabled locations by the end of 2027.
- Akamai Technologies (AKAM) +2.3% – Morgan Stanley has raised Akamai Technologies from Underweight to Overweight and lifted its price target from $83.00 to $115.00.
Biggest stock losers
- Capital One (COF) -7.3%, American Express (AXP) -3.5%, Visa (V) and Mastercard (MA) -1.7% – Shares of credit card companies and banks fell in premarket trading after President Donald Trump warned that lenders would be “in violation of the law” if they fail to cap interest rates at 10% for one year.