Forte Biosciences (NASDAQ:FBRX) shares surged about 40% to around $76 on Monday after argenx (NASDAQ:ARGX) announced an agreement to acquire the biotechnology company in a deal valued at approximately $2.2 billion.
Under the terms of the agreement, argenx will acquire all outstanding Forte Biosciences shares for $77 per share in cash. The offer represents a premium of about 86% to Forte’s volume-weighted average price since the company reported positive Phase 1b data for its lead program FB102 in vitiligo on July 9, 2026.
Shares of major chipmakers fell sharply on Monday after reports that a state-backed Chinese firm has begun mass-producing domestic deep ultraviolet (DUV) lithography machines.
ASML Holding NV (NASDAQ:ASML, XETRA:ASME) dropped more than 7% as China's progress in domestic DUV production threatens the Dutch company's sales of older-generation tools in the region. Advanced Micro Devices Inc (NASDAQ:AMD, XETRA:AMD) also fell 7.3% and Micron Technology Inc (NASDAQ:MU) was down nearly 5% by midday.
Cracker Barrel Old Country Store (NASDAQ:CBRL) said on Monday that David Deno will become its next chief executive, succeeding Julie Masino, sending shares of the restaurant chain down nearly 5% in morning trading.
Masino will step down as CEO and director but will stay on in an advisory capacity through October, the company said.
SpaceX Corp (NASDAQ:SPCX) shares fell to an all-time low on Monday, dropping to $108.66 in early trading before recovering some ground to trade around $111 by late morning, as investors weighed concerns over an upcoming share lock-up expiration, valuation, capital spending and financing plans.
The stock has now lost nearly half its value from its post-initial public offering peak despite the company recently completing the 13th test flight of its Starship rocket.
Capricor Therapeutics (NASDAQ:CAPR) shares fell about 67% on Monday after US Food and Drug Administration (FDA) staff reviewers raised concerns about the evidence supporting the effectiveness of the company's experimental cell therapy, deramiocel, for Duchenne muscular dystrophy (DMD)-associated cardiomyopathy.
The FDA released briefing documents ahead of a July 29 meeting of its Cellular, Tissue, and Gene Therapies Advisory Committee, which will review the therapy's efficacy and overall risk-benefit profile before the agency's August 22 Prescription Drug User Fee Act (PDUFA) target action date.
Pinewood Technologies Group PLC (LSE:PINE, OTCQX:PINWF, FRA:0PD0) shares jumped 32% to 416p after the automotive software company said it was minded to recommend a £545 million takeover proposal from technology investor Ridgeview Partners.
Ridgeview has proposed paying 448p in cash for each Pinewood.AI share, a 43% premium to Thursday’s closing price of 314p. The proposal is also 64% above the company’s average share price over the preceding three months.
BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) led a broad decline among London-listed oil producers on Monday as crude prices retreated sharply from last week’s highs.
Brent crude fell 6.1% to $90.87 a barrel, having climbed above $101 last week, while US West Texas Intermediate dropped 5.5% to $84.37 after reaching a seven-week high above $93 last Thursday.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares climbed to their highest in over two weeks after the drugmaker reported better second-quarter earnings than expected as growth in oncology and rare diseases helped offset weaker sales elsewhere.
Total revenue increased 9% to $30.7 billion in the first half of 2026, or 6% at constant exchange rates. Core earnings per share rose 12% to $5.21, while reported earnings increased 4% to $3.60.