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2025-03-31 17:50
Stock futures edged lower on Monday as markets anticipated President Trump's 'Liberation Day' announcement, which includes a 25% tariff on imported cars and reciprocal trade duties.
Here are some of Monday's biggest stock movers:
WR Berkley's (NYSE:WRB) +7.5% – Shares rose after Mitsui Sumitomo Insurance, a unit of MS&AD Insurance Group from Japan, announced its acquisition of a 15% stake in the company by the end of March 2026. The stake acquisition will be carried out either through open-market purchases or private transactions. In addition to the stake acquisition, Mitsui Sumitomo has also entered into a voting arrangement with the Berkley family. MSI will vote shares in favor of Berkley family recommendations once it reaches 4.9% stake, with Berkley family remaining a larger shareholder. After 12.5% stake, Berkley family will support MSI-backed board member nomination and election, maintaining two board seats.
The9 (NASDAQ:NCTY) +7.5% – Shares rose after the company has secured a strategic investment of $8 million from cryptocurrency investment funds Elune Capital, Fine Vision Fund, and Bripheno Pte. The company will issue Class A common shares at a price based on the 30-day average closing price. The agreement includes issuing 302,263,200 stock warrants (equivalent to 1,007,544 ADSs) with a two-year exercise period. Some warrants have an exercise price of $60 per ADS, while others are conditional upon strategic cooperation and platform launch.