TLDR
- AI-linked tech stocks including Broadcom, AMD, Nvidia, and Super Micro bounced back Monday after Friday’s selloff
- Eli Lilly jumped up to 5% after its obesity pill Foundayo showed strong weight loss results across all menopause stages
- Nurix Therapeutics surged 38% after a $2.3B licensing deal with Roche, including a $700M upfront payment
- Marvell Technology and Flex rose after being confirmed for S&P 500 inclusion on June 22
- Honeywell slipped 2% after reaffirming full-year guidance and outlining its post-spin-off structure
The AI selloff that hit markets on Friday appeared to be fading by Monday morning. Tech stocks climbed in premarket trading as Wall Street moved past both geopolitical tensions between Israel and Iran and last week’s tech concerns.
Broadcom rose 1.5% in premarket trading after two straight sessions of losses tied to weak revenue guidance. AMD added 1.6%, Nvidia gained 1.9%, and Super Micro Computer jumped 7.7%. Micron Technology, Lam Research, Seagate, and Western Digital were also set to open higher.
Eli Lilly’s Foundayo Data Boosts Stock
Eli Lilly was one of the day’s standout performers, rising between 3.9% and 5%. The company released new data from its ATTAIN-1 and ATTAIN-2 trials over the weekend.
The trials showed Foundayo delivered weight loss results in women regardless of their menopause stage. In the ATTAIN-1 trial, women on the highest dose lost between 12.8% and 14.4% of body weight over 72 weeks.
Up to 83% of participants achieved at least 5% weight loss. As many as 52% lost 15% or more of their body weight. The results covered premenopausal, perimenopausal, and postmenopausal women.
The data adds to the commercial case for Lilly’s obesity drug franchise and could support future reimbursement discussions with insurers and healthcare providers.
Nurix Surges on $2.3B Roche Deal
Nurix Therapeutics was the biggest single-stock mover of the day, with shares up 38% after announcing a major deal with Roche.
The exclusive global licensing and collaboration agreement covers the development and commercialization of bexobrutideg, an oral BTK degrader. The total deal value is up to $2.3 billion.
Nurix receives $700 million upfront in cash. Roche will cover 60% of development costs, with Nurix covering the remaining 40%. The two companies will share U.S. profits and losses equally.
Outside the U.S., Roche takes on commercial responsibilities and pays Nurix tiered royalties in the low-to-high teens range. The deal is structured as non-dilutive funding, which investors viewed favorably.
The companies plan to start a Phase 3 trial this summer in chronic lymphocytic leukemia. The drug is also being explored for multiple sclerosis and chronic spontaneous urticaria.
Index Changes and Honeywell
Marvell Technology and Flex both rose after S&P Dow Jones Indices confirmed they would join the S&P 500 on June 22. Marvell gained 6.7% and Flex added 3%.
Honeywell fell 2% after reaffirming its full-year 2026 sales guidance of $38.8 billion to $39.8 billion. The company also laid out a new financial framework for its automation-focused unit ahead of an aerospace spin-off scheduled for June 29.
Apple edged up 0.3% ahead of its 2026 Worldwide Developer Conference, which began Monday.
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