Home Depot reportedly makes move on GMS
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Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It is so great to have you here on this Friday, June 20th. I'm Julie Morgan. Bidding reportedly heats up for GMS. Trump puts a timeline on whether an Iran strike will happen. And SoftBank is reportedly dreaming big in Arizona.

Home Depot has reportedly made an offer for GMS. This follows QXO's bid on Wednesday for GMS for $95.20 per share for a transaction value of $5 billion.

The Wall Street Journal reported that Home Depot's offer is unclear at this point. GMS distributes wallboards, ceilings, steel framing, and construction products as well as commercial and residential building materials. It operates through tool sales, rental and service centers as well as a network of distribution centers. GMS is up 19 percent in pre-market action.

President Trump will decide within the next two weeks if the U.S. should launch an attack on Iran, pressuring Tehran to the negotiating table for a nuclear deal. The president said in a message delivered by the press secretary that based on the fact that there is a substantial chance of negotiations that may or may not take place,

with Iran in the near future that he'll make his decision whether or not to go within the next two weeks. The deadline comes as the escalating Israel-Iran conflict enters its second week. Israel struck 100 targets in Iran, including nuclear sites on Thursday. Iran continues to launch missiles and drones at Israel.

Masayoshi Sun is looking to team up with Taiwan Semiconductor Manufacturing to realize what could be his biggest bet yet, a trillion-dollar industrial complex in Arizona to build robots and artificial intelligence. Bloomberg reported that the founder of SoftBank envisions a version of the vast manufacturing hub of China's Shenzhen that would bring back high-tech manufacturing to the U.S.,

The park may comprise production lines for AI-powered industrial robots. The company is making a bold push into AI, pledging up to $40 billion in investments toward open AI, starting with an initial $8.5 billion through its Vision Fund 2. Now for a look at what's trending on Seeking Alpha. Stellantis is urging the EU to ease regulations amid rising competition from China's small cars.

Meta reportedly plans to hire safe super-intelligent CEO Daniel Gross and Nat Friedman to push AI. And the BBC reportedly threatens legal action against perplexity over the alleged use of content to train AI models.

Now for a look at the markets today ahead of the opening bell. Dow S&P and Nasdaq futures are in the green. Crude oil is up 0.9% at $74 a barrel. Bitcoin is up 1.2% at $105,000. Gold is down 0.3% at $3,358. The FTSE 100 is up 0.5% and the DAX is up 0.9%.

Smith & Wesson is on our list of the biggest movers of the day pre-market. SWBI is down 12% after the company reported weaker-than-expected fiscal Q4 results on Wednesday, citing inflation, higher interest rates, and trade policy uncertainty. On today's economic calendar, at 8.30 a.m., the Philadelphia Fed Manufacturing Index, and at 10 a.m., leading indicators.

That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.