By WSJ Staff

Victoria's Secret & Co. $(VSCO)$: An activist investor has built a stake in the lingerie retailer, with plans to push the company to refresh its board and refocus on its core bra business.

Renault (FR:RNO): The French car maker's chief executive plans to step down in mid-July; he is set to become the new boss of Kering (FR:KER), according to a media report. Renault's stock fell 7%, while shares of Gucci-owner Kering jumped 9% in Paris.

Roche (CH:RO): The pharmaceutical company paused the use of Elevidys, a treatment for Duchenne muscular dystrophy, after two fatal liver failures. Roche's stock fell in Switzerland; shares of Sarepta Therapeutics (SRPT), Roche's partner for the gene therapy, tumbled 29% in premarket trading.

U.S. Steel $(X)$: Japan's Nippon Steel (JP:5401) plans to complete its purchase of U.S. Steel after reaching an agreement with the Trump administration to resolve national-security concerns. Nippon shares rose 1.5% in Tokyo. Shares of U.S. Steel jumped 5% premarket.

Santos (AU:STO): Australia's second-largest producer of oil and gas received a takeover offer worth over $18 billion from a consortium led by Abu Dhabi National Oil Co. Shares jumped nearly 11%. The deal would rank as one of the largest in the energy sector this year.

Lennar $(LEN)$: The Miami homebuilder will report results after markets close.

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June 16, 2025 04:55 ET (08:55 GMT)

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