Key Highlights
- Moderna experienced a significant premarket surge of 9-12% following confirmation of hantavirus treatment research after U.S. health authorities reported a case
- Intel’s stock climbed 6.6% during premarket hours amid reports of a potential chip production agreement with Apple
- Micron Technology advanced 3.3% while SK Hynix jumped 12% as Samsung faces potential labor strike
- Lumentum Holdings saw a 4% increase following its inclusion in the Nasdaq-100 Index
- Wendy’s dropped 3% after receiving a downgrade to Underweight from JPMorgan with an $8 target price
Moderna stock emerged as one of the strongest performers in Monday’s premarket session. Shares advanced between 9% and 12%, extending Friday’s impressive 12% gain.
The upward momentum followed an announcement from U.S. health authorities regarding a passenger on a repatriation flight who tested weakly positive for the Andes variant of hantavirus. Officials noted that another passenger was experiencing minor symptoms.
Moderna disclosed that it is pursuing preliminary research into hantavirus treatments. This work involves collaboration with the U.S. Army Medical Research Institute of Infectious Diseases and Korea University College of Medicine.
According to the company, this research initiative predates the current outbreak and represents part of its comprehensive strategy to develop responses to novel infectious disease threats.
Hantavirus has captured heightened attention following an outbreak aboard the MV Hondius cruise vessel that reportedly resulted in three fatalities and multiple infections.
Intel Shares Climb on Reported Apple Partnership
Intel shares advanced 6.6% to reach $133.10 during premarket trading Monday. The gain extends Friday’s session, which saw the stock surge 14%.
The positive movement followed media reports suggesting Intel had secured a preliminary manufacturing agreement to produce chips for Apple products. Neither company has publicly verified these reports.
Bank of America analysts increased their Intel price target from $56 to $96 on Monday, though they maintained their Underperform rating on the shares.
Memory Chip Manufacturers Gain on Samsung Labor Uncertainty
Micron Technology shares climbed 3.3% in early trading. Competitor SK Hynix experienced a dramatic 12% increase.
The rallies occurred as Samsung Electronics engaged in continued negotiations with its workers’ union following mediation attempts. Both parties are working to prevent a widespread work stoppage.
According to analysis from Jefferies, a potential strike at Samsung facilities could disrupt approximately 3% of worldwide memory chip manufacturing.
Apollo Global Management declined 0.9% following a Wall Street Journal report indicating the company is negotiating the sale of a private-credit fund. Apollo has not issued a statement regarding the report.
Lumentum Holdings climbed 4% after Nasdaq’s announcement that the company will enter the Nasdaq-100 Index on May 18, taking the place of CoStar Group. The Nasdaq-100 serves as the basis for more than 200 investment vehicles managing over $600 billion in total assets.
Wendy’s shares fell 3% after JPMorgan analyst Rahul Krotthapalli downgraded the restaurant chain from Neutral to Underweight. The downgrade cited persistent sales weakness and ongoing leadership instability. JPMorgan established a $6 price objective, suggesting approximately 18% downside potential.
Stock index futures showed modest declines Monday morning. The weakness followed comments from Israeli Prime Minister Benjamin Netanyahu suggesting the confrontation with Iran remains ongoing, intensifying concerns about Middle Eastern instability and potential energy supply disruptions.
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