Quick Summary
- Technology stocks tied to artificial intelligence, such as Broadcom, AMD, Nvidia, and Super Micro, recovered on Monday following Friday’s market decline
- Eli Lilly stock climbed as much as 5% following positive clinical trial results for its obesity medication Foundayo across all menopause stages
- Nurix Therapeutics stock soared 38% on news of a $2.3 billion licensing agreement with Roche that includes a $700 million upfront cash payment
- Marvell Technology and Flex shares advanced after S&P confirmed their upcoming addition to the S&P 500 index on June 22
- Honeywell stock declined 2% despite reaffirming annual projections and detailing its restructuring plan following aerospace division spin-off
Monday morning brought relief to technology investors as the artificial intelligence sector selloff from Friday appeared to lose momentum. Semiconductor and tech stocks advanced in premarket hours as market participants shifted focus away from Middle East geopolitical concerns and previous week’s technology sector worries.
Broadcom climbed 1.5% before the opening bell, recovering from two consecutive days of declines following disappointing revenue projections. AMD shares increased 1.6%, while Nvidia added 1.9%, and Super Micro Computer surged 7.7%. Memory and storage companies including Micron Technology, Lam Research, Seagate, and Western Digital also positioned for positive openings.
Eli Lilly Stock Jumps on Foundayo Clinical Results
Eli Lilly emerged as a top performer Monday, with shares climbing between 3.9% and 5%. The pharmaceutical company disclosed updated findings from its ATTAIN-1 and ATTAIN-2 clinical studies during the weekend.
The clinical trials demonstrated that Foundayo produced consistent weight reduction outcomes in female participants across all menopause phases. Women taking the maximum dosage in the ATTAIN-1 study achieved body weight reductions ranging from 12.8% to 14.4% throughout the 72-week period.
Up to 83% of trial participants reached at least 5% body weight reduction. Additionally, as many as 52% of participants experienced weight loss of 15% or greater. These outcomes remained consistent whether women were premenopausal, perimenopausal, or postmenopausal.
These findings strengthen the business prospects for Lilly’s obesity treatment portfolio and may enhance future negotiations with insurance companies and medical providers regarding coverage and reimbursement.
Nurix Stock Soars Following Major Roche Partnership
Nurix Therapeutics posted the session’s largest percentage gain, with shares jumping 38% after revealing a substantial partnership agreement with Roche.
The worldwide exclusive licensing and development collaboration focuses on the advancement and market launch of bexobrutinib, an oral BTK degrader compound. The agreement carries a total potential value reaching $2.3 billion.
Nurix will receive an immediate cash payment of $700 million. Roche has committed to funding 60% of development expenses, while Nurix shoulders the remaining 40%. The partnership equally divides profits and losses from U.S. market sales.
For international markets, Roche assumes full commercial operations and compensates Nurix with tiered royalty payments ranging from the low-to-high teens percentage. The agreement’s non-dilutive funding structure received positive market reception.
Both companies anticipate launching a Phase 3 clinical study this summer targeting chronic lymphocytic leukemia patients. Additional research applications include multiple sclerosis and chronic spontaneous urticaria.
S&P 500 Changes and Honeywell Updates
Marvell Technology and Flex shares both advanced following official confirmation from S&P Dow Jones Indices regarding their June 22 inclusion in the S&P 500. Marvell shares jumped 6.7% while Flex increased 3%.
Honeywell stock dropped 2% after the company maintained its 2026 annual sales forecast between $38.8 billion and $39.8 billion. The industrial conglomerate also presented updated financial projections for its automation-centered business unit in preparation for the aerospace division separation scheduled for June 29.
Apple stock edged higher by 0.3% as investors anticipated the company’s 2026 Worldwide Developer Conference launching Monday.
