Prometheus Biosciences, XPeng and State Street are among the stocks on the move

Stock gainers:

• Prometheus Biosciences’ stock
  RXDX,
  +1.02%
  skyrocketed nearly 70% in premarket trading on Monday after drug maker Merck & Co. Inc.
  MRK,
  -0.23%
  signed a deal on Sunday to acquire the biotech company for $200 a share, or about $10.8 billion. Merck shares were down 0.14%.

• U.S.-listed shares of electric vehicle maker XPeng
  XPEV,
  -0.60%
  rose over 11% premarket after it released a new production platform that will cut the research and development (R&D) cycle for future car models by 20%. Shares of other China-based EV makers, such as Nio
  NIO,
  +1.87%
  and Li Auto
  LI,
  +1.40%
  also rallied on the news by more than 3% and nearly 5% respectively.

• Charles Schwab Corp.
  SCHW,
  -1.40%
  was up over 2% ahead of its quarterly earnings.

• M&T Bank‘s
  MTB,
  +0.03%
  stock rose 4% upon its first-quarter earnings of $4.01 per share that beat analyst expectations of $3.94 per share.

• Shares of vaccine manufacturer Moderna
  MRNA,
  -2.14%
  were up almost 2% premarket following the release of trial results of its cancer vaccine used in combination with Merck’s keytruda, which showed an improvement in “recurrence-free survival” in melanoma patients.

• Amneal Pharmaceuticals Inc.’s stock
  AMRX,
  -2.16%
  soared 11% after the generics and specialty pharmaceuticals company offered first-quarter guidance that topped consensus estimates.

Stock decliners:

• State Street Inc.’s stock
  STT,
  +1.55%
  slid 9% after the bank’s first-quarter earnings fell far short of estimates. State Street said it faced fee revenue headwinds from “significantly lower average market levels.” Rival custodian bank Bank of New York Mellon Corp.
  BK,
  +0.35%
  fell in tandem and was last down 4%.

• Shares in Marpai Inc.
  MRAI,
  +14.72%
  sank almost 38% after the AI health-tech company said it was selling 7.4 million shares at $1 per share in a public offering, nearly half of Friday’s $1.87 closing price.