Premarket movers:
Mag 7 stocks are mostly higher (Amazon +1%, Alphabet +0.8%, Meta +0.6%, Nvidia (NVDA) +0.8%, Tesla (TSLA) +0.7%, Microsoft (MSFT) +0.3%, Apple (AAPL) -0.2%)
Merus (MRUS) soars 37% after Danish biotechnology group Genmab announced a deal to buy the company for $8 billion.
MoonLake Immunotherapeutics (MLTX) sinks 88% following disappointing late-stage clinical trial data on the biopharmaceutical companyโs experimental drug to treat a debilitating skin condition known as hidradenitis suppurativa.
Occidental Petroleum (OXY) gains 1.5% after the Financial Times reported that the company is in talks to sell its OxyChem petrochemical unit in a deal worth at least $10 billion.
Tilray (TLRY) climbs 16%, rising with other cannabis stocks, after President Donald Trump posted a video on social media Sunday that touts medical benefits of โhemp-derived CBDโ for seniors.
USA Rare Earth (USAR) gains 5% after the company agreed to acquire UK-based manufacturer LCM in a cash and stock deal.
https://nitter.poast.org/zerohedge/status/1972638619908161815#m