Stock futures were rising Monday as Wall Street extended Friday's gains despite mounting virus concerns and as investors looked to the Jackson Hole symposium later in the week for hints on future Federal Reserve policy.
Here are some of the top movers during premarket trading Monday.
1. Pfizer PFE | Up 3.65%
Shares of Pfizer (PFE) - Get Pfizer Inc. Report rose more than 3% in premarket trading after the drugmaker said it will buy immuno-oncology specialists Trillium Therapeutics (TRIL) - Get Trillium Therapeutics Inc. Report for $18.50 a share in cash, or implied equity value of $2.26 billion.
2. Trillium Therapeutics TRIL | Up 191.13%
Shares of Trillium Therapeutics (TRIL) - Get Trillium Therapeutics Inc. Report more than tripled early Monday after Pfizer said it would buy the cancer therapy specialist in a deal worth $2.26 billion.
Trillium's drug portfolio includes biologics treatments that "enhance the ability of patients’ innate immune system to detect and destroy cancer cells," Pfizer said.
Pfizer had first invested $25 million in Trillium in September 2020.
3. Uber UBER | Down 3.85%
Shares of Uber (UBER) - Get Uber Technologies, Inc. Report slipped more than 5% ahead of the bell after a California judge said the November ballot measure that allowed the ride-hailing service to continue treating their drivers as independent contractors is unenforceable and unconstitutional.
4. Lyft LYFT | Down 4.25%
Superior Court Judge Frank Roesch said Proposition 22, which was passed by voters in November, was unenforceable and unconstitutional in a ruling on Friday.
5. General Motors GM | Down 1.43%
Shares of General Motors (GM) - Get General Motors Company Report fell 2% in premarket trading after the automaker expanded the recall of its Chevy Bolt electric car to include newer models, a move that will cost the company an additional $1 billion.