Moderna shares were among the biggest gainers in premarket trading Monday. The stock climbed around 9% to 12%, building on a 12% rally from Friday.
The move came after U.S. health officials reported that a passenger on a repatriation flight had tested mildly positive for the Andes strain of hantavirus. A second passenger was also showing mild symptoms.
Moderna confirmed it is conducting early-stage hantavirus research. The work is being done alongside the U.S. Army Medical Research Institute of Infectious Diseases and Korea University College of Medicine.
The company said the research started before the recent outbreak. It is part of a broader effort to develop countermeasures for emerging infectious diseases.
Interest in hantavirus has grown after an outbreak on the MV Hondius cruise ship reportedly killed three people and infected several others.
Intel shares rose 6.6% to $133.10 in premarket trading Monday. This came after a strong Friday session where the stock closed 14% higher.
The rally followed reports that Intel had reached a preliminary agreement to manufacture chips for Apple devices. The deal has not been officially confirmed by either company.
Bank of America raised its price target on Intel to $96 from $56 on Monday. However, the bank kept its Underperform rating on the stock.
Micron Technology rose 3.3% in premarket trading. SK Hynix, a rival memory chip maker, surged 12%.
The gains came as Samsung Electronics and its labor union held post-mediation talks. The two sides are trying to avoid a general walkout.
According to Jefferies, a strike at Samsung could affect around 3% of global memory chip production.
Apollo Global Management slipped 0.9% after the Wall Street Journal reported the firm is in talks to sell one of its private-credit funds. Apollo did not respond to a request for comment.
Lumentum Holdings gained 4% after Nasdaq announced it would join the Nasdaq-100 Index on May 18, replacing CoStar Group. The Nasdaq-100 is tracked by over 200 investment products with more than $600 billion in assets under management.
Wendy’s fell 3% after JPMorgan downgraded the stock to Underweight from Neutral. Analyst Rahul Krotthapalli cited continued sales declines and a lack of permanent leadership. JPMorgan set a $6 price target, implying around 18% downside.
Stock futures were edging lower Monday. Pressure came after Israeli Prime Minister Benjamin Netanyahu warned that the conflict with Iran “isn’t over,” raising fears about Middle East tensions affecting energy supplies.
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