Moderna surges as much as 100% on late-stage melanoma data; Magnificent Seven split in premarket
Moderna (MRNA) surged as much as 100% in premarket trading after reports emerged that its personalized cancer vaccine, developed with Merck, reduced melanoma recurrence in a late-stage trial. Merck shares added 8% on the same print. The report put a cancer drug program spanning both companies in focus as the sharpest single-name catalyst of the morning.
Key takeaways
- Moderna surged as much as 100% in premarket trading after reports its personalized cancer vaccine, developed with Merck, reduced melanoma recurrence in a late-stage trial.
- Merck shares rose 8% on the same report about the shared personalized melanoma program.
- The Magnificent Seven were split, with Amazon, Nvidia and Meta gaining, Microsoft, Alphabet and Tesla falling, and Apple flat.
- Estée Lauder climbed 7% on a quarterly beat, while La-Z-Boy sank 16% on a weak sales forecast and Mercury Systems fell 9% after missing earnings by one cent.
- Moderna's premarket move reflected the market pricing a filing event that has not yet been announced, since it followed trial data rather than a regulatory approval.
Moderna (MRNA) surged as much as 100% in premarket trading after reports emerged that its personalized cancer vaccine, developed with Merck, reduced melanoma recurrence in a late-stage trial. Merck shares added 8% on the same print. The report put a cancer drug program spanning both companies in focus as the sharpest single-name catalyst of the morning.
The Magnificent Seven offered no collective direction early. Amazon (AMZN) gained 0.2%, Nvidia (NVDA) added 0.2%, and Meta rose 0.1%. Against those, Microsoft (MSFT) fell 0.5%, Alphabet (GOOGL) dropped 0.5%, and Tesla (TSLA) declined 0.2%. Apple (AAPL) was flat. Three up and three down inside the same cohort is the mixed read heading into the session.
The rest of the tape
Estée Lauder climbed 7% after quarterly results that beat estimates. The company had posted three consecutive years of declining revenue, a run this print interrupts. La-Z-Boy sank 16% after the furniture manufacturer issued a current-quarter sales forecast below the street's expectations. Mercury Systems fell 9% after reporting fiscal fourth-quarter adjusted earnings per share that missed by one cent.
Target slipped 1% despite beating expectations for comparable sales and adjusted earnings, with tariff refunds contributing to that beat. The stock had climbed 56% year-to-date through Tuesday's close, a run that frames the mild post-beat pullback as the day's awkward number for holders.
Norfolk Southern added 2% after a federal regulator decided to resume consideration of a joint application with Union Pacific to establish a coast-to-coast freight network. SK Hynix ADRs rose 3% following a $29 billion share buyback announcement. WhiteFiber fell 22% after the company said it would issue $250 million in convertible senior notes due 2032 through a private placement.
What to watch
The MRNA move of as much as 100% is the setup heading into the open. A premarket surge of that size on trial data, rather than a regulatory approval, shows the market pricing a filing event that has not been announced. Merck's 8% gain prices the personalized melanoma program as shared upside. The next confirmable milestone is any disclosure on a submission tied to the late-stage trial data.
Related reading
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Filed by the macro desk of MarketPR on August 19, 2026. Source: MarketPR newsroom. Indicative figures are not investment advice.