U.S. stock futures were mostly higher this morning, with the Dow futures gaining around 100 points on Monday.
Shares of RXO, Inc.. RXO shares rose sharply in today's pre-market trading after the company inked a definitive agreement to acquire Coyote Logistics from United Parcel Service, Inc. UPS for $1.025 billion in cash.
As per the terms, the transaction disclosed on Sunday will be financed through a combination of equity and debt, including a $300 million equity investment from MFN Partners and a $250 million equity investment from Orbis Investments, both significant shareholders of RXO.
RXO shares jumped 13.3% to $22.90 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Alnylam Pharmaceuticals, Inc. ALNY shares gained 38.8% to $230.00 in pre-market trading after announcing topline results from its HELIOS-B Phase 3 study of vutrisiran.
- Altimmune, Inc. ALT shares gained 10.9% to $7.10 in pre-market trading after the company announced that it presented data from the 48-week Phase 2 MOMENTUM clinical trial of pemvidutide at the American Diabetes Association’s 84th Scientific Sessions.
- Clover Health Investments, Corp. CLOV gained 9.6% to $1.37 in pre-market trading after gaining over 21% on Friday.
- argenx SE ARGX shares gained 9.9% to $433.52 in pre-market trading after the company announced the FDA approval of VYVGART Hytrulo for chronic inflammatory demyelinating polyneuropathy.
- Intellia Therapeutics, Inc. NTLA shares gained 9.5% to $26.51 in pre-market trading.
- Pharming Group N.V. PHAR shares gained 8.1% to $7.86 in pre-market trading after declining 8% on Friday.
- Ionis Pharmaceuticals, Inc. IONS shares gained 5.2% to $44.01 in pre-market trading.
Don't forget to check out our premarket coverage here
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