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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 company’s 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 β€œhemp-derived CBD” 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