Check out the companies making headlines before the bell. ARCELUX — Biotech stocks soared 78% after Gilead Sciences announced Monday that it has agreed to acquire Arcelx for $7.8 billion, offering $115 per share in cash and a $5 per share contingent value right at closing. Arcellx focuses on immunotherapy for patients with cancer and other difficult diseases. The transaction is expected to close in the second quarter. Novo Nordisk , Eli Lilly — Novo Nordisk fell 14% after its weight-loss drug Kaglisema failed to compete with Eli Lilly’s drug in a recent trial. Eli Lilly shares rose nearly 3%. Domino’s Pizza — The pizza chain rose 4% after fourth-quarter U.S. sales rose 3.7%, beating the FactSet consensus estimate of 3.1%. Overall revenue for the fourth quarter also exceeded expectations, coming in at $1.54 billion versus expectations of $1.52 billion. Fortune Brands Innovations — Shares rose 4% after the Wall Street Journal reported that investor Ed Garden has acquired a stake in Fortune Brands and is seeking to replace the company’s next CEO. VF Corp — Shares fell about 3.5% after the global apparel, footwear and accessories company was downgraded by JPMorgan. Analysts said Vans’ brand recovery could take a significant amount of time, with sales at wholesalers and direct retailers likely suffering double-digit declines. Software Stocks — Several software stocks fell after being downgraded to “hold” by Jefferies. The investment firm noted that these names indicate more persistent risk and negative sentiment based on analysts’ artificial intelligence risk framework and other company-specific factors. Monday.com and Freshworks were down 3%, DocuSign was down 2% and Workday was down more than 1%. Airline stocks — United Airlines, American Airlines and Delta Air Lines fell 1% after a massive snowstorm hit the Northeast, forcing the cancellation of flights across the United States. About 20 inches of snow fell on Long Island, New York, according to the New York Times.
