Premarket Movers | Palo Alto Gains 5%; Crypto Shares Sink With DeFi Dev, Bullish down about 3%; Iovance Bio Rockets 23%; AEye Soars 16%

Crypto shares sank in premarket trading. DeFi Dev, Bullish down about 3%; SharpLink Gaming, BitMine down over 2%.

Palo Alto Networks shares jumped over 5% in premarket trading after forecasting fiscal 2026 revenue and profit above analysts' estimates on Monday, betting on growing demand for its artificial intelligence-powered cybersecurity solutions.

Palo Alto's new launches such as cloud security platform 'Cortex Cloud' and security platform to protect AI apps 'Prisma AIRS', together with its planned $25 billion CyberArk acquisition, deepen its cybersecurity offerings.

"The company benefits from both net new AI spending as well as a reallocation from services to products (via automation)," said Morningstar analyst Malik Ahmed Khan.

Shares of AEye advanced 16% in premarket trading after the company said it signed a strategic cooperation agreement with Black Sesame Technologies.

Terms of the deal call for integrating AEye's Apollo long-range lidar sensor with Black Sesame Technologies' advanced chipset and perception software, the two companies said. AEye added that the partnership expands its presence in China.

Iovance Biotherapeutics said late Monday that Health Canada has issued a notice of compliance with conditions for Amtagvi to treat adult patients with advanced melanoma. Iovance shares were up about 23% in premarket trading.