A potential banking mega-merger is making waves this morning, sending one financial stock sharply higher. Plus, a steel producer reported soft quarterly results but edged higher on stable guidance, while a data firm posted mixed earnings with modest top-line strength. Read on for the key stories moving markets.

Biotech Surge (Sponsored)

A new wave of viral threats is quietly building—and one under-the-radar biotech firm may be on the front lines.

While vaccination rates decline and old viruses like measles make a comeback, one experimental treatment is showing early promise across a wide range of high-risk infections… from RSV to influenza and even long COVID.

Early data suggests it could potentially target up to 90–95% of known human viruses. That’s not a typo.

With no approved treatments for some of these major threats—and a clinical-stage drug now entering preclinical measles testing—investors are starting to take notice.

It just hit a 6-month high. Broke through key technical levels. And it’s still trading at microcap levels.

This could be a chance to get in before the broader market catches on.

Futures 📈

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What to Watch

Earnings:

  • FactSet Research Systems Inc. [FDS]: Premarket

  • Commercial Metals Company [CMC]: Premarket

  • Jerash Holdings (US) Inc. [JRSH]: Premarket

  • KB Home [KBH]: After Hours

  • Woodside Energy Group Limited [WDS]: Not Supplied

  • Lufax Holding Ltd [LU]: Not Supplied

Economic Reports:

  • S&P Flash U.S. Services PMI [June]: 9:45 am

  • S&P Flash U.S. Manufacturing PMI [June]: 9:45 am

  • Existing Home Sales [May]: 10:00 am

Gold Watchlist (Sponsored)

This isn’t just politics—it’s a financial flashpoint.

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Now’s the time to learn how to legally convert retirement funds into physical goldtax-free.

Materials

Commercial Metals Misses Expectations Despite Higher EPS Estimate Revisions

Commercial Metals Company (CMC) reported fiscal Q3 results Monday morning that came in below analyst expectations, even after a modest uptick in earnings estimates ahead of the release.

The steel and rebar producer reported earnings of $0.74 per share, falling short of the consensus forecast of $0.84. Revenue also missed slightly at $2.02 billion, compared to the $2.05 billion expected. Both figures reflect a year-over-year decline, as the company faces pricing pressure and the normalization of construction demand following the post-COVID stimulus tailwinds.

This marks the third earnings miss in the past five quarters for CMC, which had seen its EPS estimate inch higher by nearly 4% in recent weeks. While recent gains off April’s lows suggested optimism around a rebound in steel demand, today’s report underscores lingering concerns over margin compression and a slowing infrastructure buildout.

The stock is down approximately 1.4% in premarket trading as investors seek commentary on pricing trends, volume expectations, and potential catalysts for the second half of the year.

Financial Services

FactSet Edges Past on Revenue But Misses Earnings Target in Q3

FactSet Research Systems Inc. (FDS) reported fiscal third-quarter results early Monday, delivering a mixed performance that saw a top-line beat but a slight earnings shortfall. Shares were flat in premarket trading.

The financial analytics firm posted adjusted earnings of $4.27 per share, just below the $4.31 consensus from analysts polled by Zacks. GAAP net income for the quarter was $148.5 million, or $3.87 per share. Revenue came in at $585.5 million, slightly ahead of expectations for $581.3 million, reflecting continued demand for institutional data and workflow solutions.

FactSet reaffirmed confidence in its full-year outlook, guiding for EPS between $16.80 and $17.40 and revenue in the $2.31 to $2.33 billion range. While the Q3 miss may weigh on sentiment in the short term, stable revenue growth and robust forward guidance could help support the stock’s longer-term trajectory.

Investors will likely focus on margin trends and enterprise renewals in the coming quarters, particularly as the company continues to invest in AI-powered analytics and platform integration.

The stock is down about 3% in premarket trading this morning as investors digest the earnings report.

Gold Surge (Sponsored)

This July, a little-known rule goes into effect—forcing Big Banks to rethink what qualifies as “real money.”

Surprisingly, they’re not betting on stocks, bonds, or even the U.S. dollar… they’re going all-in on physical gold.

According to Peter Schiff, it’s now “the only form of money trusted by the banking system.”

Investors tied to traditional accounts like IRAs or 401(k)s may be left behind.

But there’s still time to act.

Download the Free Gold Retirement Guide Before July

Banking

Northern Trust Pops 5% on Reports of Potential Merger With BNY Mellon

Northern Trust Corporation (NTRS) surged over 5% in premarket trading Monday after reports surfaced that Bank of New York Mellon (BK) had expressed preliminary interest in a possible merger.

According to The Wall Street Journal, the CEOs of both firms recently met to discuss a potential combination, though no formal offer was made. If a deal materializes, it would unite two of the largest players in custody and asset servicing, reshaping the competitive landscape against rivals like JPMorgan, State Street, and Citigroup.

Analysts noted that any transaction would require antitrust scrutiny, but sentiment around bank mergers has grown more positive amid stabilizing interest rates and a lighter regulatory tone under the Trump administration. The report cited Capital One’s recently approved $35 billion acquisition of Discover as an encouraging precedent.

Northern Trust shares climbed past $117 in early trading, continuing a strong run in 2025 that has already seen the stock rise more than 9% year-to-date. Investors appear optimistic that even a whisper of M&A could unlock additional value in the wealth and asset management space.

Movers and Shakers

Zeta Global Holdings [ZETA] – Last Close: $16.52

Zeta Global is a marketing technology firm that uses cloud-based software and AI to optimize digital customer engagement. The company has topped expectations in 15 straight quarters, posting 36% year-over-year revenue growth and improving its guidance. Its Zeta Economic Index further underscores strong consumer activity and AI-driven momentum.

Shares are climbing about 16.5% in premarket trading today, propelled by renewed investor interest in its AI marketing leadership and positive sentiment around its innovative product offerings.

My Take: ZETA is riding a powerful combination of strong execution and AI tailwinds. If it continues to convert its AI roadmap into revenue, a phased accumulation on any pullback could be a smart move. It’s worth keeping a close watch as it scales.

Exelixis, Inc. [EXEL] – Last Close: $45.22

Exelixis is an $11-billion biopharma specializing in cancer therapies, best known for its flagship drug Cabometyx. In its recent Q1, the company posted strong revenue and earnings, driven by expanding indication approvals and robust uptake.

The stock is up approximately 12% in premarket trading on renewed optimism following the company's $100 million increase in full-year guidance, driven by accelerating demand for Cabometyx in newly approved cancer types.

My Take: Exelixis is showcasing blue-chip biotech characteristics with growth, pipeline depth, and shareholder returns. If the upcoming trial data aligns, this could cement its momentum. I might consider adding around key catalyst windows, but keep an eye on valuation.

Northern Trust Corp. [NTRS] – Last Close: $118.00

Northern Trust is a global asset manager and custodian overseeing over $1.6 trillion in assets under management and $16.8 trillion in custody. Its business benefits from stable fee income and rising interest rates, which lifted recent profits significantly.

Shares are rising about 5.5% in premarket trading, likely on continued confidence in asset managers as the Fed signals potential rate cuts and persistent asset flows.

My Take: NTRS combines balance-sheet strength, fee stability, and structural tailwinds. For investors looking to ride potential easing cycles, this might be a solid core holding. A gradual build-up could suit longer-term income strategies.

Microcap Edge (Sponsored)

The world may be sleepwalking into the next viral crisis.

With measles making a comeback, RSV cases rising, and long COVID still lingering… global health systems are under pressure.

But one clinical-stage biotech may have found a game-changing solution: a single antiviral compound designed to target a wide range of high-risk viruses—potentially 90–95% of known threats.

There are no approved treatments for RSV or measles today. Yet in early animal studies, this breakthrough candidate completely cleared RSV infections—and is now being tested against measles.

The stock has quietly surged past major technical resistance. The float is tight. The market cap is still tiny.

And the biotech space is seeing billions in investment as global health becomes a renewed priority.

Want to know why investors are paying attention now?

Everything Else

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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