Stock futures edged down Tuesday early morning following Trump’s warning of mounting tariffs on key European partners blocking a U.S. bid for Greenland control.
Here are some of Tuesday’s biggest stock gainers:
Biggest stock gainers
- Rapt Therapeutics (RAPT) +64% – Shares jumped after GSK (GSK) agreed to acquire the biotech in a $2.2B deal, paying $58 per share in cash through a tender offer expected to launch within 10 business days. Net of cash acquired, GSK’s upfront investment totals roughly $1.9B. The transaction, slated to close in Q1 2026, gives GSK global rights (excluding Greater China) to ozureprubart, RAPT’s long-acting anti-IgE antibody in phase IIb development for food-allergy prophylaxis, along with associated milestone and royalty obligations to RAPT’s partner Shanghai Jeyou Pharmaceutical.
- ImmunityBio (IBRX) +2% – Shares rose after the company said it held a Type B End-of-Phase meeting with the FDA on its supplemental BLA for ANKTIVA plus BCG in BCG-unresponsive papillary NMIBC, with regulators requesting additional information but no new trials to support a potential resubmission. The company highlighted more than five years of follow-up data showing 96% disease-specific survival at 36 months, high cystectomy-free survival, and a safety profile consistent with its approved CIS indication. ImmunityBio plans to submit the requested materials within 30 days, following what it described as a productive meeting outlining the regulatory path forward for the papillary indication.
Biggest stock losers
- Logitech (LOGI) -6%, NetApp (NTAP) -4%, and CDW (CDW) -2% – Shares declined after Morgan Stanley downgraded all three, warning of a “perfect storm” for IT hardware as corporate spending slows to its weakest pace in 15 years outside COVID-19. A 4Q CIO survey pointed to softer demand, while resellers expect 30%–60% of customers to cut PC, server, and storage budgets amid component-driven price increases. The firm said this marks only the “first cut” of a hardware down-cycle that could last three to five quarters. CDW was cut to Equal-Weight (PT $141), Logitech to Underweight (PT $89), and NetApp to Underweight (PT $89).
- NVIDIA (NVDA) -3% – Shares dipped following a report that suppliers halted production of H200 components as Chinese customs officials blocked shipments of the AI processors from entering the country. Nvidia had anticipated more than 1M orders from Chinese customers, with suppliers preparing for March deliveries, but customs authorities have reportedly told agents the chips cannot be imported. The move follows earlier reports that Beijing urged domestic tech firms to pause H200 orders pending regulatory clarity, even as the government drafts new procurement rules. The H200, predecessor to Blackwell, and the upcoming Vera Rubin had recently been cleared for sale to China under a 25% fee approved by President Trump, though previous lower-tier models like the H20 faced criticism and import halts over security concerns.