Prometheus, Merck, Moderna, Charles Schwab, XPeng, and More Stock Market Movers

Text size

Stock futures were rising modestly Monday ahead of a busy week for corporate earnings reports. 

These stocks were poised to make moves Monday: 

Shares of

Prometheus Biosciences

(RXDX) rose more than 70% in premarket trading to $194.01 after

Merck

(MRK) agreed to buy the clinical-stage biotechnology company for $200 a share or about $10.8 billion. The deal for Prometheus, which focuses on treatments for autoimmune disease, is expected to close in the third quarter. Merck fell 1.6%.

Meanwhile, a cancer vaccine developed by Merck and

Moderna

(MRNA) showed promising results in helping prevent relapse for melanoma patients, according to a study. About 79% of patients who took the vaccine plus Merck’s Keytruda were alive and cancer-free at 18 months, compared with 62% of patients who only received immunotherapy, according to a Phase2b trial. Moderna rose 0.6% in premarket trading.

Charles Schwab

(SCHW) was rising 2.3% ahead of quarterly earnings from the brokerage firm before the stock market opens Monday. Analysts surveyed by FactSet expect earnings of 90 cents a share for the first quarter, up from 77 cents a year earlier.

State Street

(STT),

M&T Bank

(MTB), and

J.B. Hunt Transport Services

(JBHT) also are scheduled to report earnings Monday.

Later in the week will see reports from

Bank of America

(BAC), 

Goldman Sachs

(GS), 

Netflix

(NFLX),

United Airlines

(UAL),

Tesla

(TSLA) and

AT&T

(T).

American depositary receipts of

XPeng

(XPEV) were up 11.4% in premarket trading after the Chinese electric-vehicle maker unveiled a new vehicle manufacturing platform that will lead to “stunning cost savings,” according to Chief Executive He Xiaopeng. 

Write to Joe Woelfel at joseph.woelfel@barrons.com