Premarket movers: Moderna, Brazil ADRs drop; SpaceX rises

Here are some of the biggest premarket U.S. stock movers today:

Moderna shares fell 9.3% in premarket trading as investors continued to react to Phase 3 results for intismeran autogene, the personalized mRNA cancer vaccine it is developing with Merck. Data from the INTerpath-001 trial, presented at the ESMO 2026 Congress in Madrid after leaking ahead of the official presentation on Oct. 22, showed that the vaccine combined with Keytruda reduced the risk of melanoma recurrence or death by 42%. While the results indicated a meaningful clinical benefit, the reduction was below the 49% reported in an earlier Phase 2b study, triggering a sustained sell-the-news reaction.

SpaceX shares rose 1.1% in premarket trading to $149.12 after CEO Elon Musk said late Sunday that the company had secured a $40 billion debt financing arrangement to purchase graphics processing units (GPUs). The callable debt is structured around GPU deliveries expected in the first and second quarters of 2027. Musk attributed the financing to SpaceX’s investment-grade credit profile, supported by recurring revenue from its Starlink satellite internet and rocket launch businesses. He also warned that more than 200 specialized cloud computing providers faced widespread failures as credit conditions tightened. Separately, Bernstein SocGen raised its SpaceX price target to $268 from $248, maintaining an Outperform rating and forecasting 13 gigawatts of terrestrial computing capacity by the end of 2027, five gigawatts above its previous estimate.

Fair Isaac shares dropped 4.5% before the bell after Wells Fargo downgraded the stock to Equal Weight from Overweight and cut its price target to $735 from $800, citing weaker confidence in the company’s near-term earnings outlook. UBS also lowered its target, to $942 from $1,100, while retaining a Neutral rating. The cautious calls followed FICO’s launch of a Preferred Program offering mortgage lenders a bundled $10 wholesale price for its Classic FICO Score and FICO Score 10T in exchange for a commitment to pull the scores for all relevant applications. Although BMO Capital raised its price target to $897 and maintained an Outperform rating, it lowered its fiscal 2027 earnings-per-share estimate to $44.87. The moves point to concerns that FICO could face near-term pressure on pricing power as it responds to competition from VantageScore 4.0, which the Federal Housing Finance Agency has approved for lenders originating loans backed by Fannie Mae and Freddie Mac.

Surgery Partners shares surged more than 21% in premarket trading after the Financial Times reported that the surgical care provider had agreed to be taken private by Bon Secours Mercy Health in a deal valuing it at about $6 billion, including debt. Bon Secours, one of the largest not-for-profit health systems in the U.S., would acquire a majority stake at around $20 per share, according to the report, which cited people familiar with the matter. Bain Capital, a shareholder since 2017, would retain its nearly 40% stake. The reported valuation includes $3.5 billion in debt. Before Monday’s move, Surgery Partners shares had fallen 31% over the previous year to just below $16, giving the company a market capitalization of nearly $2.1 billion.

U.S.-listed shares of Brazilian companies plunged in premarket trading after President Luiz Inácio Lula da Silva secured a surprise victory to win a historic fourth term in office. Senator Flavio Bolsonaro, the son of former President Jair Bolsonaro and the first-round leader earlier this month, refused to concede. Investors had largely positioned for a Bolsonaro victory, anticipating economic reforms as Brazil grappled with deteriorating public finances and elevated interest rates.

Petrobras shares plunged roughly 22%, while Itaú Unibanco , Banco Bradesco and Nu Holdings fell between 23% and 29%. E-commerce company MercadoLibre dropped 10.9%, while Ambev slumped around 18%. Banco Santander Brasil lost 4.5%, Vale fell 3.6%, and Embraer shed 3.8%. The iShares MSCI Brazil ETF, which tracks Brazilian equities, tumbled more than 27%.