Markets Mixed Ahead of Fed as Chips, Biotech Rally

Key Moments

Major U.S. index futures were little changed by 08:40 ET, with Dow futures down 0.1%, S&P 500 futures up 0.1%, and Nasdaq 100 futures up 0.5%.
UniQure shares spiked 67.5% in premarket trading after the FDA agreed that three-year Phase I/II AMT-130 data could underpin an accelerated approval filing for Huntington’s disease.
Aehr Test Systems climbed 11% premarket after securing a follow-on production order for its fully automated FOX-XP wafer-level burn-in system from a major silicon photonics customer.

Index Futures Steady Ahead of Fed and Geopolitical Developments

U.S. equity futures were broadly stable on Wednesday as market participants awaited a pivotal Federal Reserve interest rate announcement and tracked reports concerning the details of a preliminary peace agreement in the Middle East.

By 08:40 ET (012:40 GMT), the Dow futures contract was down 0.1%, S&P 500 futures were higher by 0.1%, and Nasdaq 100 futures were up 0.5%. Healthcare and technology stocks featured prominently among the early movers, with trading also shaped by fresh analyst calls and merger-related headlines.

Major Premarket Movers

Company	Move (Premarket)	Key Driver
Snap	Under pressure	Continued weakness after 9.6% drop tied to reaction to new AR glasses
UniQure	+67.5%	FDA agreement on AMT-130 data as primary basis for potential accelerated approval filing
Aehr Test Systems	+11%	Follow-on order for fully automated FOX-XP wafer-level burn-in system
Genco Shipping & Trading	+8%	Improved acquisition proposal from Diana Shipping at $27.34 per share
T1 Energy	+1.9%	Initiation at Market Perform by Bernstein SocGen Group with $9 price target
Leidos Holdings	-1.3%	Downgrade by BofA Securities and price target cut to $125 from $200

Technology and Consumer: Snap Remains Under Pressure

Snap shares stayed under pressure in premarket trading after dropping 9.6% in the previous session. The prior decline followed the release of its standalone augmented reality glasses, called “SPECS.” Investors appeared doubtful about the commercial outlook for this latest hardware initiative.

Biotech: UniQure Soars on Regulatory Milestone

UniQure surged 67.5% after the gene therapy company reported that the U.S. Food and Drug Administration had agreed that three-year data from its Phase I/II trial of AMT-130 could serve as the primary basis for a Biologics License Application seeking accelerated approval for Huntington’s disease.

Semiconductors: Aehr Test Systems Wins Follow-on Order

Aehr Test Systems advanced 11% after the semiconductor test equipment manufacturer disclosed a follow-on production order for a fully automated FOX-XP wafer-level burn-in system from a major silicon photonics customer. Delivery of the system is expected within the next six months.

Shipping: Genco Rallies on Sweetened Bid

Genco Shipping & Trading climbed 8% following an increased takeover proposal from Diana Shipping. The revised offer stands at $27.34 per share in a mix of cash and stock. According to Diana, the new terms represent a substantial premium to Genco’s share price before its initial proposal.

Renewables and Storage: T1 Energy Initiated at Market Perform

T1 Energy gained 1.9% after Bernstein SocGen Group began coverage of the solar and battery storage company with a Market Perform rating and a $9 price target, citing both growth potential and ongoing legal risks.

Defense and IT Services: Leidos Slips on Downgrade

Leidos Holdings eased 1.3% in premarket action after BofA Securities lowered its rating on the defense and information technology contractor to Neutral from Buy and reduced its price target to $125 from $200.