Stock Futures Subdued as Markets Await Fed Meeting Minutes
Stock futures are subdued on the penultimate trading day of the year as markets contend with light year-end volumes and a pullback in heavyweight tech and AI names that stalled last week's strong rally. Investors are also awaiting the release of the Federal Reserve's December meeting minutes and digesting recent economic signals that have fueled debate over the pace of future rate cuts.Precious metals have rebounded after a brief sell-off, with gold futures edging higher following Monday's decline, reflecting ongoing demand for safe-haven assets as the year closes. With trading volumes expected to remain light ahead of New Year's Eve and markets closed Thursday for the holiday, price action remains driven more by positioning and positioning adjustments than by fresh catalysts.In pre-market trading, S&P 500 futures fell 0.08%, Nasdaq futures fell 0.16% and Dow futures fell 0.03%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Ekso Bionicsand Applied Digitalup 46% and 2%, respectively, after the companies entered into a non-binding term sheet for a proposed business combination of Applied Digital's cloud computing business with EksoOn24up 36% after entering into a definitive agreement to be acquired by Cvent for $8.10 per share in cashVolatoup 7% after announcing that it has elected to pause its at-the-market equity offering program through June 30, 2026Boeingup 1% after being awarded a ceiling $8.58B hybrid cost-plus-fixed-fee, fixed-price incentive, firm-fixed-price, undefinitized contract action for the F-15 Israel ProgramCemtrexup 37% after reporting FY25 results
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- Private Placement Agreement: Ekso Bionics entered into securities purchase agreements on January 20, 2026, with institutional and accredited investors for a private placement of 5,852 shares of Series B preferred stock and warrants to purchase 360,000 common shares, expecting to raise $5.9 million for working capital and general corporate purposes.
- Preferred Stock Conversion Terms: Each preferred share has a stated value of $1,000 and can be converted into common stock at any time at $8.22 per share, representing a total potential conversion into 710,000 common shares, enhancing investor return potential.
- Warrant Details: The warrants will become exercisable six months after closing at $8.22 per share and will expire five years thereafter, providing an investment opportunity should the stock price rise in the future.
- Market Reaction: Despite the financing announcement, Ekso Bionics' stock price fell by 7.22%, reflecting market caution regarding the company's future prospects, which may impact the effectiveness of the financing.

- Financing Size: On January 20, 2026, Ekso Bionics entered into agreements with institutional investors to sell 5,852 shares of Preferred Stock, expected to raise $5.9 million, enhancing the company's liquidity to support operations.
- Preferred Stock Conversion: Each Preferred Stock has a stated value of $1,000 and a conversion price of $8.22 per share, potentially converting into 711,922 shares of common stock, thereby increasing shareholder equity and market appeal.
- Warrant Terms: The transaction also includes warrants for 355,960 shares of common stock, with an exercise price of $8.22, valid for five years, enhancing potential returns for investors.
- Transaction Timeline: The private placement is expected to close around January 22, 2026, subject to customary closing conditions, ensuring timely access to funds to support the company's strategic development.

- Ventyx Transaction Investigation: Halper Sadeh LLC is investigating the sale of Ventyx Biosciences, Inc. to Eli Lilly for $14.00 per share, potentially indicating breaches of fiduciary duties affecting shareholder rights.
- Sun Country Transaction Review: The sale of Sun Country Airlines Holdings, Inc. to Allegiant Travel Company involves 0.1557 shares of Allegiant common stock and $4.10 in cash per share, with Halper Sadeh LLC assessing the implications for shareholders.
- EKSO Merger Focus: The merger of EKSO Bionics Holdings, Inc. with Applied Digital Cloud is also under scrutiny by Halper Sadeh, as it may impact shareholder interests, prompting shareholders to understand their legal rights.
- Legal Service Commitment: Halper Sadeh LLC offers contingent fee legal services to shareholders, aiming to secure increased consideration and additional disclosures for affected investors, ensuring their rights are protected.

- Significant Revenue Growth: Applied Digital's fiscal Q2 revenue surged 250% to $126.6 million, primarily driven by strong performance in its high-performance computing business, which is expected to fuel future high-margin growth.
- Data Center Expansion Plans: The company is in advanced discussions with multiple large cloud providers to secure 900 megawatts of data center capacity over the next few years, which will significantly enhance its market position and revenue potential.
- Improved Profitability: Although adjusted net income was only $0.1 million, EBITDA soared from $6.1 million a year ago to $20.2 million, indicating progress in cost control and operational efficiency.
- Financial Condition Analysis: With $1.9 billion in cash and $2.6 billion in debt, Applied Digital's negative cash flow raises concerns, yet its financing capabilities provide assurance for future expansions, prompting investors to carefully weigh risks against potential rewards.

- Revenue Surge: Applied Digital reported a remarkable 250% revenue growth in its fiscal second quarter, reaching $126.6 million, with its high-performance computing segment contributing $85 million, indicating a robust competitive position in the AI infrastructure market.
- Client Expansion: The company is in advanced discussions with multiple large cloud providers for 900 megawatts of data center capacity, which will not only enhance its market share but also lay the groundwork for future high-margin growth.
- Financial Position: Despite reporting an adjusted net income of $0.1 million and a negative free cash flow of $899.4 million, the company maintains a strong cash reserve of $1.9 billion, demonstrating financial resilience amid high capital expenditures.
- Future Outlook: Applied Digital plans to ramp up its high-performance computing capacity from 100 megawatts to 400 megawatts by 2027, which is expected to drive significant future growth, although the high-risk capital expenditures require careful management.
- Revenue Growth Expectation: Applied Digital is projected to report $89.76 million in Q2 revenue, reflecting over a 40% increase from last year's $63.87 million, indicating significant revenue recognition from its AI data centers and tenant fit-out services.
- Core Partnership Expansion: CoreWeave's lease expansion to 400 MW at the Ellendale, ND campus, valued at approximately $11 billion, is expected to start generating lease revenue by late 2025 or early 2026, which will provide substantial cash flow for Applied Digital.
- Cloud Business Spin-off: The announcement of merging its cloud business with Ekso Bionics to form ChronoScale raises investor interest in how this strategic separation will allow Applied Digital to focus on its “AI Factory” data center operations, potentially enhancing operational efficiency.
- Financing and Liquidity: Recently securing a development loan facility from Macquarie Group to support new AI campuses, management's insights on capital costs and future funding needs will be critical for analysts, especially given the capital-intensive nature of hyperscale data center construction.






