Biggest stock movers today: Arcutis Biotherapeutics, Ebix and more

seekingalpha2023-12-18

Stock futures inched higher on Monday after the three major averages notched their seven-week winning streak Friday amid an indication that the Fed could slash interest rates at least three times next...

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Here are some of Monday's biggest stock movers: Biggest stock gainers  Shares of Arcutis Biotherapeutics (ARQT) rose over 24% in early trading Monday after the FDA approved the company’s drug Zoryve, also known as roflumilast, for the treatment of seborrheic dermatitis in people aged 9 years or older. ZIM Integrated Shipping Services (ZIM) leads shipping and container stocks higher this morning, following a week-long rally in the sector. In premarket trading, the stock has soared by 5.50%, propelled by increased prices and the promise of potential profits amidst mounting tensions in the Red Sea.  Biggest stock losers Ebix (EBIX) shares plummeted by 52% in early trading following its filing for Chapter 11 bankruptcy protection in Northern Texas, after the company failed to meet its deadline to pay debtors, which expired on December 17. 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