Premarket movers: Mag 7 stocks are all green (Meta +1.5%, Microsoft +1.6%, Alphabet +1.4%, Amazon +1.5%, Apple +0.8%, Nvidia +1.3%, Tesla +1%) Apellis Pharmaceuticals Inc. (APLS) soars 138% after Biogen Inc. agreed to acquire the company for $5.6 billion. Centessa Pharmaceuticals (CNTA) rises 48% after Eli Lilly & Co. agreed to buy the sleep drug maker in a deal worth up to $7.8 billion. FactSet Research Systems (FDS) gains 6% after the financial data company boosted its adjusted earnings-per-share forecast for the full year. It also reported adjusted EPS and revenue for the second quarter that beat expectations. McCormick (MCK) rises 1.8% after Unilever said talks to sell most of its food business to the maker of spices are advanced. McCormick reported earnings on Tuesday and made no mention of the Unilever deal. PepGen (PEPG) plunges 44% after the biotech gave clinical data from a mid-stage trial of its drug candidate for a type of muscle disease. Analysts say the data is mixed and Oppenheimer notes that the selloff might be overdone. Phreesia (PHR) tumbles 23% after the healthcare software company lowered its full-year revenue forecast far below the analyst consensus. At least four brokerages downgraded their rating on the stock. Scholar Rock (SRRK) rises 11% after the company resubmitted its biologics license application for apitegromab, a muscle-targeted therapy for children and adults with spinal muscular atrophy, to the US Food and Drug Administration. T1 Energy (TE) falls 17% after the solar equipment manufacturer reported a wider than expected fourth-quarter loss per share and higher-than-expected expenses.(zerohedge)