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A Food and Drug Administration advisory committee has voted to approve Biogen’s Alzheimer’s drug.
Adam Glanzman/Bloomberg
Equity futures rose on Monday as investors braced for a busy week filled with U.S. inflation data and global central bank meetings, including a Federal Reserve interest rate decision.
These stocks were set to move on Monday:
biogenic
(BIIB) rose 3.6% in premarket trading after a Food and Drug Administration panel said the biotech company and partner Eisai had proven their drug’s efficacy against Alzheimer’s disease Leqembi, voting six to zero to recommend approval of the treatment.
Selling power
(CRM) Marc Benioff, CEO, will host ”
Selling power
AI,” a 90-minute live-streamed event that begins at 1:30 p.m. EST. Evercore ISI analyst Kirk Materne said he expects the event to focus on data cloud and trust elements. The stock rose 0.8% in premarket trading.
Oracle
(ORCL) is expected to release its fiscal fourth quarter results after the close of trading on Monday. Shares of the software giant rose 2.8%. Earnings reports are due later this week from
Lennar
(LEN),
Adobe
(ADBE), and
Kroger
(KR).
Chinook Therapy
(KDNY), a biopharmaceutical company specializing in treatments for kidney disease, has entered into an agreement to be acquired by
Novartis
(NVS) for $40 per share in cash, or a total of $3.2 billion. Shares of Chinook closed Friday at $23.99 and rose 66% in premarket trading to $39.92.
Illuminated
(ILMN) says CEO Francis deSouza has stepped down as the gene sequencing company battles regulators over its deal to acquire cancer test maker Grail. The acquisition also sparked a proxy battle with activist investor Carl Icahn.
Illuminated
shares gained 0.7%.
Write to Joe Woelfel at joseph.woelfel@barrons.com