Premarket Movers: Apogee Therapeutics, SpaceX, Arcosa and Others
M&A stock movers: Apogee, Arcosa, and others react to major deal news See who gained and slipped in premarket trading as acquisitions and catalysts unfold
Shares of Apogee Therapeutics jumped after AbbVie confirmed plans to buy the biotechnology company in a $10.9 billion allcash deal. AbbVie said the acquisition will strengthen its position in respiratory medicine, while AbbVie shares also edged higher.
Arcosa climbed after CRH announced an $8.5 billion allcash acquisition of the building materials company. The offer values Arcosa at $150 per share and would expand CRH’s construction products portfolio.
SpaceX fell in premarket trading as the stock headed for a sixth straight decline on the Nasdaq. Other notable movers included Getty Images, which rose sharply after announcing an agreement with OpenAI, Alphabet, which slipped after a research departure from Google DeepMind, and Micron, which advanced after receiving higher price targets. Chevron also gained after reaching a longterm fuel supply deal for a Microsoft data center in West Texas.