Key Highlights
- Chipmakers Intel and Micron extended their rally Monday, following record closing prices achieved Thursday
- Getty Images skyrocketed 179% following the announcement of a strategic multi-year partnership with OpenAI
- Apogee Therapeutics soared more than 50% amid reports of potential $11 billion acquisition talks with AbbVie
- SpaceX declined 3.7%, marking its third consecutive session of losses
- Futures traded mixed as market participants monitored diplomatic negotiations between the U.S. and Iran in Switzerland
Chipmakers Intel and Micron extended their impressive momentum Monday morning, building on the all-time highs both companies achieved in Thursday’s trading session.
Intel climbed 4.4% during early market hours. The semiconductor giant had previously surged 10.6% on Thursday following President Donald Trump’s announcement that the company secured a significant manufacturing contract with Apple, propelling shares to a historic closing price of $133.99.
Micron advanced more than 3%. Market participants are anticipating the memory chip manufacturer’s quarterly earnings release scheduled for Wednesday, which analysts view as a pivotal catalyst for the stock’s trajectory.
Other technology hardware companies tied to artificial intelligence also posted gains in premarket trading. Super Micro Computer, Western Digital, Sandisk, Seagate Technology, and Corning all traded higher.
Getty Images Rockets 179% Following OpenAI Collaboration
The day’s most dramatic single-stock movement came from Getty Images, which exploded 179% higher after unveiling a comprehensive multi-year collaboration with OpenAI.
Under the agreement, Getty’s extensive collection of licensed visual media will be embedded directly into ChatGPT’s search and discovery capabilities. This integration will enable users to access legally verified imagery within their AI-generated responses, representing a significant evolution in how artificial intelligence platforms acquire and utilize visual content.
Market analysts view this collaboration as a fundamental transformation of Getty’s business strategy, triggering an immediate and substantial investor reaction.
Apogee Therapeutics Jumps on AbbVie Acquisition Speculation
Apogee Therapeutics experienced a dramatic surge exceeding 50%, climbing to $139.38, following a Financial Times report indicating that AbbVie has entered advanced acquisition discussions valued at approximately $11 billion in cash.
The proposed transaction focuses on Apogee’s primary drug candidate, zumilokibart, an anti-inflammatory treatment under development as a competitive alternative to Dupixent, the highly successful eczema medication marketed by Sanofi and Regeneron.
AbbVie appreciated 4.2% on the acquisition speculation. If finalized, this transaction would bolster AbbVie’s product portfolio in inflammatory disease therapeutics.
Arcosa similarly advanced 11.5% following reports that Irish construction materials conglomerate CRH is nearing an acquisition agreement valued above $8 billion.
Select Technology Stocks Retreat
Not all technology equities participated in Monday’s gains. SpaceX fell 3.7% in premarket activity, positioning the stock for its third straight declining session.
Alphabet, Amazon, Tesla, Nvidia, and Broadcom all traded lower ahead of Monday’s opening bell.
Equity futures displayed mixed sentiment as investors monitored ongoing diplomatic discussions between the United States and Iran taking place in Switzerland. Negotiators characterized the talks as demonstrating “encouraging progress,” with both nations committing to a 60-day framework toward a comprehensive agreement and measures to maintain unimpeded access through the Strait of Hormuz for petroleum transportation.
Nextpower declined 2% after revealing plans to acquire German solar energy provider Zimmermann PV-Steel Group for a maximum consideration of €330 million. Market participants expressed concerns regarding potential integration challenges associated with the combined cash-and-stock deal, which is projected to conclude during the second half of 2027.
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