U.S. stock futures rallied, following days of losses, while energy prices slumped and bonds sold off, after reports that Russia was pulling back some troops from the Ukrainian border. Here’s what we’re watching in markets Tuesday:
- Tower Semiconductor shares climbed more than 40% premarket. Intel said it would buy the Israeli chip company for $53 per share in cash, as the U.S. semiconductor giant continues spending to expand its manufacturing operations. Intel shares nudged up 1.7%.
- Shares of computer networking company Arista Networks rose almost 10% premarket after the company reported results above analysts’ expectations.
- Shares of cybersecurity firms gained premarket, with CrowdStrike Holdings up 2.7%, while Palo Alto Networks added 2.6% and SentinelOne rose 3.5%. Businesses including utilities, manufacturers and financial-services companies have been bracing for potential spillover from cyberattacks against Ukraine.
- ImmunoGen shares jumped 9% premarket after the company announced a license agreement with Eli Lilly of its Novel Camptothecin ADC Platform for up to $1.7 billion in potential payments.
- Shares of Larimar Therapeutics plummeted more than 50% premarket after the clinical-stage biotechnology company said the U.S. Food and Drug Administration extended a clinical hold on CTI-1601, its lead compound.
- Resonant shares soared more than 250% premarket after the provider of radio frequency filter solutions agreed to be acquired by a unit of Japan’s Murata Manufacturing .
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