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Luke Kawa

US key mineral stocks dip as White House says China’s rollback of rare earth export curbs more comprehensive than previously thought

Shares of US rare earth and key mineral producers are lower in premarket trading after the White House said that China’s rollback of export curbs goes further than previously thought.

Initial news reports suggested that Chinese restrictions on rare earth exports from April would remain intact following last week’s meeting between US President Trump and Chinese President Xi, while more recently planned curbs would be delayed. However, the White House’s fact sheet on the trade deal with China published this weekend says that the world’s second-largest economy “will issue general valid licenses” for many key minerals, which “means the de facto removal of controls China imposed in April 2025 and October 2022.”

MP Materials, Lithium Americas, and Critical Metals are all more than 1% lower as of 7:10 a.m. ET, while United States Antimony Corp. is off double digits.

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Helena Cheng

FuelCell Energy rises as AI data center pipeline overshadows Q2 miss

FuelCell Energy shares rebounded into positive territory during pre-market trading, reversing an initial dip sparked by Q2 results that showed widening net losses and a year-over-year revenue decline.

Key numbers:

  • Revenue: $35.6 million (estimate: $40.56 million)

  • Adjusted EPS: -$1.45 (estimate: -$0.50)

That revenue number marks a 5% decrease from the $37.4 million generated during the same quarter last year.

The company's net loss expanded to $78.7 million, or $1.45 per share, compared to a loss of $38.8 million in the prior-year period. Management attributed the deeper loss primarily to a $42.6 million one-time impairment expense linked to essential equipment upgrades at its Groton Project facility.

While a 9.9% drop in total backlog initially added to the shares’ downward momentum, investors appeared to quickly pivot their attention to the company's forward-looking metrics. FuelCell highlighted a 267% sequential jump in its sales pipeline, which has reached 4 gigawatts. The surge is driven by demand for its packaged 12.5 MW utility-grade power block solution tailored specifically for the booming AI data center market.

To support this high-growth data center strategy, FuelCell announced a major capacity expansion at its Torrington, Connecticut manufacturing facility. The company plans to raise its annualized production ceiling from 350 MW to 500 MW, an infrastructure upgrade estimated to cost between $200 million and $275 million over the next 24 months.

Driven by the AI data center narrative, FuelCell Energy's stock has risen over 130% this year to date.

markets
J. Edward Moreno

Lilly says its next-gen GLP-1 shot drove 28.3% weight loss, reduced comorbidities

Eli Lilly has risen around 4% in premarket trading after reporting impressive trial results for its next-generation weight-loss drug over the weekend.

According to the results unveiled on Saturday, Lilly’s experimental weight-loss shot, retatrutide, helped patients lose 28.3% of their body weight at 80 weeks. That’s more than tirzepatide, Lilly’s weight-loss shot currently considered the most effective in the market, which helped people lose 26% of their weight over 88 weeks.

Retatrutide is a triple agonist, meaning it mimics three different hormones that promote weight loss, compared to one by Novo Nordisk’s semaglutide and two by tirzepatide. Lilly says it helps preserve more muscle mass than other weight-loss shots and also helped improve knee osteoarthritis pain and obstructive sleep apnea.

Lilly has said it would submit the drug for approval this year with the goal of getting it out to market in 2027. The jab could be the next big money-maker for Lilly, which currently sells the most lucrative drug in the world but has had an underwhelming rollout of its oral weight-loss pill, which came to market earlier this year.

Retatrutide is already quite popular among those who experiment with peptides, or unapproved injectable drugs often sold online “for research purposes only.” For gym bros trying to attain a certain physique, a drug that has shown it can melt fat while preserving muscle is enticing.

But in a market full of knock-off drugs, will retatrutide enthusiasts pay full price for the drug when it officially goes to market?

markets
Claire Yubin Oh

Marvell and Flex rise on S&P 500 inclusion announcement

Chipmaker Marvell Technology and electronics manufacturer Flex are jumping 7% and 3%, respectively, in premarket trading on Monday, after S&P Dow Jones Indices announced late on Friday that the two companies are set to join the S&P 500 benchmark index.

Replacing Pool Corp and Campbell’s in the S&P 500, Marvell and Flex’s addition will be effective from June 22, per a press release from the provider, which assesses and updates the index on a quarterly basis.

Marvell has been one of the leading candidates for inclusion across the last few quarterly index rebalances. The company has ballooned into a $230 billion chip giant of late, thanks to the wider AI boom, investors chasing momentum, and, yes, Jensen Huang. Flex, which has been part of the S&P MidCap 400 index since 2024, has also grown recently, having played a part in the data center boom with its portfolio spanning across infrastructure and cooling systems.

With today’s premarket movement taken into account, MRVL has now risen almost 40% in the last week alone.

Tasha Matsumoto
6/5/26
Stocks tumble amid AI sell-off as a blowout jobs report dampens hope of a rate cut this year

The S&P 500 broke its streak of nine consecutive weekly gains, while the Nasdaq 100 had its worst day since April 2025.

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David Crowther6/5/26

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