Premarket Winners: Moderna (MRNA), Intel (INTC), and Micron (MU) Rally on Monday

Key Takeaways

• Moderna’s stock soared approximately 9-12% following U.S. health officials’ announcement of a hantavirus case and the biotech firm’s disclosure of early treatment research
• Intel’s shares climbed 6.6% during premarket hours following media reports suggesting a tentative chip production agreement with Apple
• Micron Technology advanced 3.3% while SK Hynix rallied 12% amid concerns over potential Samsung labor action
• Lumentum Holdings saw a 4% increase after Nasdaq announced its inclusion in the Nasdaq-100 Index
• Wendy’s shares declined 3% following JPMorgan’s downgrade to Underweight with an $8 valuation target

Shares of Moderna emerged as one of Monday’s strongest performers during premarket hours. The biotech stock advanced between 9% and 12%, extending Friday’s impressive 12% gain.

Moderna, Inc., MRNA

The surge followed an announcement from U.S. health authorities regarding a passenger aboard a repatriation flight who tested mildly positive for the Andes variant of hantavirus. Officials noted that another passenger was exhibiting minor symptoms as well.

Moderna disclosed that it has been pursuing early-phase hantavirus research initiatives. 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, these research activities predated the current outbreak. They’re part of a comprehensive strategy to create countermeasures against emerging infectious disease threats.

Hantavirus has attracted heightened attention following an outbreak aboard the MV Hondius cruise vessel that allegedly resulted in three fatalities and numerous infections.

Apple Partnership Report Propels Intel Higher

Intel shares advanced 6.6% to $133.10 during Monday’s premarket session. This followed a robust Friday performance that saw the stock finish 14% higher.

The upward momentum stemmed from media reports indicating Intel had secured a preliminary manufacturing arrangement to produce chips for Apple products. Neither corporation has publicly verified the alleged agreement.

Bank of America elevated its Intel price objective to $96 from $56 on Monday. Despite this increase, the financial institution maintained its Underperform rating.

Semiconductor Stocks Rise on Samsung Labor Concerns

Micron Technology posted a 3.3% premarket gain. Competitor SK Hynix saw shares jump 12%.

These increases occurred as Samsung Electronics continued negotiations with its workers’ union following mediation efforts. Both parties are working to prevent a widespread work stoppage.

Jefferies analysts estimate that a Samsung strike could impact approximately 3% of worldwide memory chip manufacturing capacity.

Apollo Global Management declined 0.9% after the Wall Street Journal disclosed that the investment firm is negotiating the sale of a private-credit fund. Apollo has not issued a statement regarding the report.

Lumentum Holdings increased 4% following Nasdaq’s announcement that the company will enter the Nasdaq-100 Index on May 18, taking the place of CoStar Group. More than 200 investment vehicles with over $600 billion in managed assets track the Nasdaq-100.

Wendy’s shares dropped 3% after JPMorgan lowered its rating to Underweight from Neutral. Analyst Rahul Krotthapalli pointed to persistent sales weakness and the absence of permanent executive leadership. JPMorgan established a $6 price objective, suggesting roughly 18% downside potential.

Stock futures traded modestly lower on Monday. Market pressure intensified after Israeli Prime Minister Benjamin Netanyahu stated that confrontations with Iran “aren’t over,” stoking concerns about Middle Eastern instability potentially disrupting energy markets.

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