Stock futures edged higher Monday, extending gains from last week's 51st record high close of the year for the S&P 500, following Friday's dovish address from Federal Reserve Chairman Jerome Powell.
Here are some of the top movers during premarket trading Monday.
1. Affirm Holdings AFRM | Up 40%
Shares of Affirm Holdings (AFRM) - Get Affirm Holdings Report jumped after the fintech company said it has partnered with Amazon.com (AMZN) - Get Amazon.com, Inc. Report to allow a pay-over-time option at Amazon’s checkout.
Truist raised its price target on Affirm to $120 from $82.
2. Hill-Rom Holdings HRC | Up 8.3%
Shares of Hill-Rom Holdings (HRC) - Get Hill-Rom Holdings, Inc. Report rose after a report said that Baxter International (BAX) - Get Baxter International Inc. Report is in advanced talks to buy the medical-equipment maker for around $10 billion.
The Wall Street Journal cited sources familiar with the matter and reported that a deal could be reached midweek.
3. Moderna MRNA | Down 2.5%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report slipped after investors reacted to the headline risk linked to the drugmaker's coronavirus vaccines in Asia and the Pacific region.
Japan on Sunday suspended another batch of Moderna vaccines following the discovery of contaminants in vials near Tokyo. Authorities have pulled more than 2.6 million Moderna vaccine doses in total. They have indicated that as many as 500,000 people could have received shots from potentially tainted supplies.
4. Support.com | Up 44%
Shares of technical support provider Support.com (SPRT) - Get Support.com, Inc. Report surged early Monday after traders on Reddit’s WallStreetBets forum speculated about a potential short-squeeze. A short squeeze entails buying stock and boosting the price, thus requiring traders who bet on a share-price drop to buy back the shares, further boosting the share price.
5. Catalent CTLT | Up 3%
Shares of Catalent (CTLT) - Get Catalent Inc Report edged higher early after the contract drug manufacturer struck a deal to buy nutritional supplement maker Bettera from private-equity firm Highlander Partners for $1 billion.
Separately, Catalent reported better-than-expected earnings and revenue for its fiscal fourth quarter.