All three major US stock indexes were up in late-morning trading Monday, as the US and Iran once again reportedly agreed to pause hostilities on Sunday.
The US Supreme Court on Monday upheld a federal courts injunction preventing President Donald Trump from firing Federal Reserve Governor Lisa Cook before the conclusion of litigation.
In company news, Comcast (CMCSA) plans to separate into two publicly traded companies through a tax-free spin-off of its NBCUniversal and Sky Businesses, the company said Monday. The separation, which is expected to be completed in about a year, would leave Comcast focused on its broadband and wireless operations, while NBCUniversal would include the Sky business along with its media, entertainment, streaming, studio, theme park, film and television assets, the company said. Comcast shares were up 7% around midday.
Rocket Lab (RKLB) said Monday it has agreed to acquire Iridium Communications (IRDM) in a cash-and-stock deal with an enterprise value of about $8 billion. Under the agreement, Iridium shareholders will receive $27 in cash plus Rocket Lab stock. The deal is expected to close in mid-2027, pending regulatory and shareholder approvals, the company said. Rocket Lab shares were up 8.7%, while Iridium shares were up 22.1%.
Martin Marietta Materials (MLM) said Monday it has entered into a definitive agreement to combine with Lhoist Group subsidiary Lhoist North America for $13.5 billion in cash and shares of Martin Marietta common stock. The deal is expected to close in H2, subject to regulatory approvals, the company said. Martin Marietta shares were down 6%.
Amazon's (AMZN) Prime Day discounts generated over $26.4 billion in sales from June 23-26, a 9.3% year-over-year increase, Reuters reported over the weekend, citing Adobe (ADBE) Analytics data. Amazon shares were up about 4%.
Price: $24.79, Change: $+1.62, Percent Change: +6.97%