U.S. stock futures rose Monday as investors digested news of a new coronavirus variant and governments worldwide placed travel restrictions amid fears of a potential surge in cases.
Here are some of the top movers ahead of Monday's market action.
1. Moderna MRNA | Up 10%
2. Royal Caribbean RCL | Up 3.3%
Shares of cruise line Royal Caribbean (RCL) - Get Royal Caribbean Group Report rebounded in premarket trading. They had dropped Friday due to fears over potential new travel restrictions heading into the holiday season as South Africa warned of the omicron Covid variant.
3. Zoom Video ZM | Down 1.3%
Shares of Zoom Video (ZM) - Get Zoom Video Communications, Inc. Class A Report retreated Monday. The videoconferencing company, a so-called stay-at-home stock, had led markets higher on Friday as investors weighed the possibility of extended remote work due to the impact of the new Covid variant.
4. Merck MRK | Down 2.3%
Shares of Merck (MRK) - Get Merck & Co., Inc. Report dropped after analysts at Citi downgraded the stock to neutral from buy. Last week, the drugmaker published data from a large-scale trial of its Covid pill treatment. The data showed a lower-than-expected efficacy rate against hospitalization and death in high-risk patients.