Stock index futures were higher ahead of the open, a day after a tech sell-off led to a red day on Wall Street. Here are four stocks to watch on Tuesday:
Meta (META) shares were nearly flat in premarket trade as traders assessed the firm’s decision to acquire Singapore-based AI startup Manus for reportedly over $2 billion. The acquisition will integrate advanced AI into the social media giant’s consumer and business products. Manus was reportedly seeking a round of fundraising with a valuation of $2B when Meta approached the startup.
Eli Lilly (LLY) rose 0.1% before the opening bell as it was slashing prices of its GLP-1 products in China as the rivalry in the booming obesity drug market there intensifies amid local competition, according to media reports. Reports suggested that Novo Nordisk slashed list prices of the two highest dosages of Wegovy, and Lilly (LLY) would also decrease the price of its GLP-1 medicine Mounjaro.
Boeing (BA) was up 0.8% in premarket trade as it was awarded a contract for as much as $8.6 billion from the U.S. Air Force on Monday to build F-15 fighter jets for the Israeli Air Force. The contract “provides for the design, integration, instrumentation, test, production, and delivery of 25 new F-15IA aircraft for the Israeli Air Force with an option for an additional 25 F-15IA aircraft.”
Takeda (TAK) was almost unchanged before the opening bell as XOMA Royalty said it has reached a new royalty-sharing transaction with the firm and amended its existing royalty-sharing agreement for the Japanese drugmaker’s Phase 3 candidate mezagitamab. As part of the revised deal, the Emeryville, California-based biotech has agreed to offer a majority of its royalty interest in mezagitamab (TAK-079) to Takeda (TAK), thereby reducing its current royalty and milestone payments due from the pharmaceutical giant.