Key Takeaways
- Chip manufacturers Intel and Micron extended their rallies on Monday following record closes from last Thursday
- Getty Images skyrocketed 179% following the announcement of a multi-year 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%, marking its third consecutive session of losses
- Futures traded mixed as market participants monitored diplomatic negotiations between the U.S. and Iran in Switzerland
Semiconductor giants Intel and Micron maintained their upward momentum Monday morning, extending a powerful rally after both companies achieved record closing prices last Thursday.
Intel climbed 4.4% during early market hours. The chipmaker had surged 10.6% on Thursday following President Donald Trump’s announcement that the company secured a significant manufacturing agreement with Apple, driving shares to an all-time closing high of $133.99.
Micron advanced more than 3%. Market participants are closely monitoring the memory chip manufacturer as it prepares to release quarterly earnings on Wednesday, an event anticipated to serve as a critical catalyst for the stock’s trajectory.
Additional AI-related hardware companies also posted gains before the opening bell. Super Micro Computer, Western Digital, Sandisk, Seagate Technology, and Corning all traded higher.
Getty Images Rockets 179% Following OpenAI Agreement
The day’s most dramatic single-stock movement came from Getty Images, which exploded 179% higher after unveiling a multi-year strategic partnership with OpenAI.
Under the agreement, Getty’s extensive collection of licensed visual assets will be integrated directly into ChatGPT’s search and content discovery capabilities. ChatGPT users will now receive legally cleared and verified images within their responses, representing a significant evolution in how artificial intelligence platforms obtain visual materials.
Market participants interpreted the partnership as a fundamental transformation for Getty’s operating model, triggering an aggressive buying response.
Apogee Therapeutics Jumps on AbbVie Acquisition Reports
Apogee Therapeutics rocketed more than 50% to reach $139.38 per share after the Financial Times disclosed that AbbVie has entered advanced acquisition discussions with the biotech company for approximately $11 billion in cash.
The proposed transaction focuses on Apogee’s primary drug candidate, zumilokibart, an anti-inflammatory compound under development as a potential competitor to Dupixent, the highly successful eczema medication from Sanofi and Regeneron.
AbbVie shares advanced 4.2% on the acquisition news. If finalized, the transaction would substantially bolster AbbVie’s development portfolio within the inflammatory disease treatment category.
Arcosa also posted significant gains, climbing 11.5%, following reports that Ireland-based construction materials company CRH is nearing a deal to purchase it for more than $8 billion.
Several Technology Stocks Declined
Not all technology equities participated in the broader rally. SpaceX fell 3.7% in premarket activity, positioning it for a third straight session of declines.
Alphabet, Amazon, Tesla, Nvidia, and Broadcom all traded lower ahead of Monday’s regular session.
Broadly, stock futures showed mixed performance as investors assessed ongoing diplomatic negotiations between the United States and Iran 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 ensure the Strait of Hormuz remains accessible for petroleum transport.
Nextpower declined 2% after disclosing plans to acquire Germany-based solar energy provider Zimmermann PV-Steel Group for up to €330 million. Investors appeared concerned about potential integration challenges associated with the cash-and-equity deal, which is projected to finalize during the second half of 2027.
