Quick Overview
- Both Intel and Micron climbed Monday, extending their momentum after reaching all-time highs last Thursday
- Getty Images exploded 179% following the announcement of a long-term visual content partnership with OpenAI
- Apogee Therapeutics soared more than 50% amid reports that AbbVie is negotiating an approximately $11 billion acquisition
- SpaceX declined 3.7%, continuing its downward trajectory for a third consecutive session
- Futures showed mixed signals as market participants monitored ongoing U.S.-Iran diplomatic discussions in Switzerland
Chip manufacturers Intel and Micron extended their upward momentum Monday morning, building on exceptional performance that saw both companies reach unprecedented closing highs during Thursday’s trading session.
Intel climbed 4.4% during early market hours. The semiconductor giant had posted a remarkable 10.6% surge on Thursday following President Donald Trump’s announcement that the company had locked in a manufacturing agreement with Apple, propelling shares to an all-time closing price of $133.99.
Micron advanced over 3%. Market analysts are closely monitoring the memory chip manufacturer as it prepares to release quarterly earnings on Wednesday, an event widely anticipated to significantly impact the stock’s trajectory.
Additional technology hardware companies with artificial intelligence exposure also posted gains during premarket trading. Super Micro Computer, Western Digital, Sandisk, Seagate Technology, and Corning all traded in positive territory.
Getty Images Rockets 179% Following OpenAI Collaboration Announcement
The day’s most dramatic single-stock movement belonged to Getty Images, which catapulted 179% after unveiling a multi-year strategic partnership with OpenAI.
Under the agreement, Getty’s extensive collection of properly licensed visual assets will be incorporated directly into ChatGPT’s search and discovery functionality. ChatGPT users will now encounter legally verified imagery within their query responses, representing a significant evolution in how artificial intelligence platforms obtain visual materials.
Market participants interpreted the collaboration as a fundamental transformation of Getty’s revenue model, triggering an immediate and substantial price reaction.
Apogee Therapeutics Jumps on AbbVie Acquisition Speculation
Apogee Therapeutics surged over 50%, climbing to $139.38, following a Financial Times report indicating that AbbVie has entered advanced negotiations to purchase the biotechnology company for approximately $11 billion in an all-cash transaction.
The proposed acquisition focuses primarily on Apogee’s flagship drug candidate, zumilokibart, an anti-inflammatory compound under development as a potential competitor to Dupixent, the highly successful eczema medication produced by Sanofi and Regeneron.
AbbVie gained 4.2% following the disclosure. If finalized, the transaction would significantly bolster AbbVie’s portfolio in inflammatory disease treatments.
Arcosa similarly advanced, climbing 11.5%, after emerging reports suggested that Irish construction materials corporation CRH is nearing an agreement to acquire it for more than $8 billion.
Several Technology Giants Declined
Not all technology stocks participated in Monday’s rally. SpaceX fell 3.7% in premarket activity, positioning the company for its third straight session of declines.
Alphabet, Amazon, Tesla, Nvidia, and Broadcom all traded lower ahead of Monday’s opening bell.
Broader market futures displayed mixed performance as investors assessed ongoing U.S.-Iran diplomatic negotiations taking place in Switzerland. Mediators characterized the discussions as showing “encouraging progress,” with both nations committing to a 60-day framework toward a comprehensive agreement and measures to maintain open passage through the Strait of Hormuz for petroleum transport.
Nextpower decreased 2% after revealing plans to acquire Germany-based solar energy provider Zimmermann PV-Steel Group for as much as €330 million. Market participants appeared hesitant regarding integration challenges associated with the cash-and-stock deal, which is projected to finalize during the second half of 2027.
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