Check out the companies making the biggest pre-market moves: Apogee Therapeutics — This biotech company soared 50% after AbbVie confirmed it would be acquiring the company. The $10.9 billion deal will see AbbVie acquire all of Apogee’s outstanding shares for $135.11 in cash, a 49% premium to Thursday’s closing price. AbbVie said the acquisition would accelerate its presence in respiratory medicine, sending shares up about 1%. ARCOSA — Shares rose more than 7% after building materials company CRH announced it would acquire Arcosa for $8.5 billion. The all-cash transaction values Arcosa stock at $150, a 10% premium to Thursday’s closing price. CRH said Arcosa’s construction products business will help complement its existing portfolio. SpaceX — The company is on pace to decline in its sixth session on the Nasdaq, falling more than 5% in premarket trading. The stock is down about 13% from Tuesday’s closing high, but is still 30% higher than its IPO price of $135. Getty Images — Shares rose 150% after the company announced its agreement with OpenAI on Sunday. Getty Images content appears in OpenAI search and ChatGPT. But even with all the research, Getty’s market capitalization is still well below $1 billion. Alphabet — The hyperscaler fell nearly 2% after researchers moved from Google’s AI lab to Anthropic on Friday. Senior Research Scientist John Jumper’s decision to leave Google DeepMind comes days after Google’s VP of Engineering Noam Shazeer announced he would be joining OpenAI. Credo Technology — Shares rose more than 3% after Evercore ISI entered coverage with an Outperform rating. Analysts said the stock is currently considered a copper-related AI connectivity stock, but will increasingly be viewed as an optical stock as it executes its product roadmap. Micron Technology — Share price rose 4.5% after two price target increases. Mr. Bernstein raised his outlook to $1,300, and Mr. Needham raised his outlook to $1,550. Micron and its memory peers Seagate Technology, Western Digital and SanDisk were the S&P 500’s top performers in premarket trading Monday. Chevron — The energy giant rose more than 1.5% after it announced it would supply natural gas to Microsoft’s data center in West Texas. The 20-year contract will service a data center called Project Kirby that is estimated to consume 2.7 gigawatts of electricity. The data center is expected to begin receiving power in 2028.
