Premarket trading on Monday saw a burst of deal-driven and analyst-driven moves across biotech, building materials, semiconductors, and media partnerships. Apogee Therapeutics surged after AbbVie confirmed plans to acquire the company, while Arcosa rallied on a takeover announcement by CRH. In tech, Alphabet slipped as a DeepMind researcher reportedly moved to Anthropic, and Getty Images jumped after reaching a deal with OpenAI.
Key takeaways
- Apogee Therapeutics surged 50% after AbbVie confirmed a cash acquisition valued at $10.9 billion.
- Arcosa rose more than 7% following CRH’s announcement of an $8.5 billion all-cash takeover.
- Getty Images jumped 150% on an agreement with OpenAI covering content distribution across OpenAI search and ChatGPT.
- Alphabet fell nearly 2% after a DeepMind researcher reportedly left for Anthropic.
- Micron Technology gained 4.5% after two firms raised price targets, lifting sentiment across memory peers.
What drove the biggest stock moves
AbbVie’s bid lifts Apogee: Apogee Therapeutics climbed 50% after AbbVie confirmed it will acquire all outstanding shares in a $10.9 billion transaction. AbbVie will pay $135.11 in cash per share, representing a 49% premium versus Thursday’s close. The company said the deal is intended to accelerate AbbVie’s expansion in the respiratory space.
CRH to buy Arcosa: Arcosa rose more than 7% after CRH announced it will acquire the company for $8.5 billion in an all-cash transaction. The offer values Arcosa at $150 per share, a 10% premium to Thursday’s close. CRH said Arcosa’s construction products business would complement its existing portfolio.
Getty’s OpenAI agreement: Getty Images surged 150% after announcing an agreement with OpenAI on Sunday. Under the arrangement, Getty content is expected to appear in OpenAI search and ChatGPT. Despite the rally, the report noted that Getty’s market capitalization remains well below $1 billion, suggesting investors are still assessing how material the partnership could become to revenue and margins.
Alphabet slides on DeepMind leadership change: Alphabet fell nearly 2% after a researcher left Google’s AI lab for Anthropic. The report said Senior Research Scientist John Jumper decided to leave Google DeepMind, following earlier industry movement that included a vice president of engineering at Google, Noam Shazeer, joining OpenAI. While the stock move was modest, the timing underscores how personnel shifts at AI labs continue to influence investor perceptions around talent and competitive positioning.
Analyst actions support semiconductors and AI connectivity
Micron benefits from target increases: Micron Technology rose 4.5% after receiving two price target hikes. According to the report, Bernstein raised its forecast to $1,300, while Needham lifted its outlook to $1,550. The upgrades helped lift sentiment not only for Micron, but also across memory peers, which tended to trade higher as a group during premarket activity.
Memory peers join the move: Seagate Technology, Western Digital and Sandisk were identified as the top performers on the S&P 500 in premarket trading Monday, reinforcing the view that positive sell-side revisions can quickly propagate across the memory complex when investors anticipate improvements in demand, pricing dynamics, or supply conditions.
Credo gets a boost from coverage initiation: Credo Technology rose more than 3% after Evercore ISI initiated coverage with an outperform rating. Analysts said the stock is currently viewed as a copper-related AI connectivity play, but that it may increasingly be framed as an optical one as it executes its product roadmap. The shift in the framing matters because it can influence how investors price growth potential tied to faster data transmission and next-generation infrastructure.
Other notable premarket developments
SpaceX extends a slide: SpaceX was described as being on pace to fall in its sixth straight trading session on the Nasdaq, dropping more than 5% in premarket trading. Even with the decline, the report said the stock is still up roughly 30% compared with its IPO price of $135, indicating the move is partly a continuation of profit-taking rather than a complete reset from the initial listing.
What to watch next
Investors will likely focus on follow-through from today’s premarket catalysts—especially deal-related execution for Apogee and Arcosa, and the commercial rollout of the Getty Images and OpenAI partnership. In semiconductors, traders may watch for additional sell-side revisions and any updates that could confirm whether memory strength is broadening beyond headline target hikes. Alphabet’s stock reaction also suggests investors may pay close attention to further AI-lab staffing developments and competitive positioning as the broader AI ecosystem continues to see personnel and platform shifts.
