U.S. stock futures were mostly higher this morning, with the Dow futures gaining around 100 points on Monday.
Shares of RXO, Inc.. (NYSE:RXO) shares rose sharply in today's pre-market trading after the company inked a definitive agreement to acquire Coyote Logistics from United Parcel Service, Inc. (NYSE:UPS) for $1.025 billion in cash.
As per the terms, the transaction disclosed on Sunday will be financed through a combination of equity and debt, including a $300 million equity investment from MFN Partners and a $250 million equity investment from Orbis Investments, both significant shareholders of RXO.
RXO shares jumped 13.3% to $22.90 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) shares gained 38.8% to $230.00 in pre-market trading after announcing topline results from its HELIOS-B Phase 3 study of vutrisiran.
- Altimmune, Inc. (NASDAQ:ALT) shares gained 10.9% to $7.10 in pre-market trading after the company announced that it presented data from the 48-week Phase 2 MOMENTUM clinical trial of pemvidutide at the American Diabetes Association's 84th Scientific Sessions.
- Clover Health Investments, Corp. (NASDAQ:CLOV) gained 9.6% to $1.37 in pre-market trading after gaining over 21% on Friday.
- argenx SE (NASDAQ:ARGX) shares gained 9.9% to $433.52 in pre-market trading after the company announced the FDA approval of VYVGART Hytrulo for chronic inflammatory demyelinating polyneuropathy.
- Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares gained 9.5% to $26.51 in pre-market trading.
- Pharming Group N.V. (NASDAQ:PHAR) shares gained 8.1% to $7.86 in pre-market trading after declining 8% on Friday.
- Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) shares gained 5.2% to $44.01 in pre-market trading.
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