Key Highlights
- Moderna’s stock surged approximately 9-12% following U.S. health officials’ announcement of a hantavirus detection and the company’s disclosure of ongoing treatment research
- Intel’s shares climbed 6.6% during premarket hours following reports of potential chip manufacturing partnership with Apple
- Micron Technology advanced 3.3% while SK Hynix jumped 12% amid concerns over potential Samsung labor action
- Lumentum Holdings posted a 4% gain after Nasdaq announced its inclusion in the Nasdaq-100 Index
- Wendy’s shares dropped 3% following JPMorgan’s downgrade to Underweight with an $8 target price
Moderna’s stock emerged as one of Monday’s strongest performers during premarket trading hours. Shares advanced between 9% and 12%, extending Friday’s impressive 12% gain.
The rally 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 also noted that another passenger was displaying mild symptoms.
Moderna disclosed that it has initiated preliminary research into hantavirus treatments. The company is collaborating with both the U.S. Army Medical Research Institute of Infectious Diseases and Korea University College of Medicine on this initiative.
According to the biotech firm, this research program was already underway prior to the current outbreak. The work represents part of the company’s comprehensive strategy to create medical countermeasures against emerging viral threats.
Concern regarding hantavirus has intensified following an outbreak aboard the MV Hondius cruise ship that allegedly resulted in three fatalities and multiple infections.
Apple Partnership Reports Drive Intel Rally
Intel shares advanced 6.6% to reach $133.10 during Monday’s premarket session. This momentum followed an impressive Friday performance that saw the stock close 14% higher.
The upward movement came after media reports suggested Intel had secured a preliminary manufacturing agreement to produce chips for Apple products. Neither Intel nor Apple has officially verified the partnership.
Bank of America analysts increased their Intel price target from $56 to $96 on Monday, though the firm maintained its Underperform rating on the semiconductor manufacturer.
Labor Uncertainty Lifts Memory Chip Manufacturers
Micron Technology’s shares climbed 3.3% in early trading. Competitor SK Hynix experienced an even stronger rally, surging 12%.
These gains materialized as Samsung Electronics engaged in post-mediation discussions with its labor union, working to prevent a comprehensive work stoppage.
Jefferies analysts estimate that a strike at Samsung facilities could disrupt approximately 3% of worldwide memory chip production capacity.
Apollo Global Management declined 0.9% following a Wall Street Journal report indicating the company is negotiating the sale of one of its private-credit funds. Apollo has not issued a statement regarding the matter.
Lumentum Holdings advanced 4% after 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 combined assets exceeding $600 billion track the Nasdaq-100.
Wendy’s declined 3% after JPMorgan lowered its rating to Underweight from Neutral. Analyst Rahul Krotthapalli pointed to persistent sales weakness and the absence of stable executive leadership. The firm established a $6 price target, suggesting roughly 18% downside potential.
Stock index futures trended lower Monday morning. Market sentiment was weighed down after Israeli Prime Minister Benjamin Netanyahu stated that tensions with Iran remain unresolved, sparking concerns about Middle Eastern instability potentially disrupting global energy markets.
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