Stock Movers: Newsmax IPO Surge, J&J Lawsuit Setback, Trump Ticket Order

Newsmax IPO Soars

• 🚀 Newsmax (NMAX) shares surged over 735% following its IPO debut, opening 40% above its initial price.
• 💰 The cable news network raised $75 million, with founder Christopher Ruddy now holding a fortune of approximately $3.3 billion, despite the company reporting a $72 million loss in 2024.

Live Nation Faces Headwinds

• 🎟️ Live Nation (LYV) shares declined after President Trump signed an executive order targeting ticket scalping and fees.
• ⚖️ The order directs agencies to enforce competition laws, promote price transparency, and prevent consumer gouging.
• 📉 The stock is down 18% year-to-date and 72% over the trailing 12 months.

Johnson & Johnson's Legal Challenge

• ⚠️ A federal judge rejected Johnson & Johnson's (JNJ) third attempt to use a subsidiary's bankruptcy to resolve baby powder cancer claims.
• ⚖️ The company was trying to establish a multibillion-dollar trust, specifically using the Red River talc unit, to settle lawsuits instead of facing trials.
• 📉 J&J shares were down more than 4% before the bell following this ruling.

Microvast Holdings Jumps on Strong Revenue

• 🔋 Microvast Holdings (MVST), a lithium-ion battery maker, saw its shares jump as much as 56% in premarket trading.
• 📈 This surge was driven by the company's 2024 revenue beating guidance, attributed to growing demand for its technology.

Other Market Movers

• ✈️ Southwest, Delta, and American Airlines shares are lower due to a downgrade from Jefferies, citing uncertainty around consumer and corporate spending.
• 🛒 Kroger received a downgrade from Melius, moving from a 'sell' to a 'hold' rating.