24H | Storage Shares Extend Rally with Micron up 8%; SanDisk up 5%; Roundhill Memory ETF up 3.6%. Hims & Hers Jumps 7%; Moderna Gains 2%

Storage Shares Extend Rally with Micron up over 8%; SanDisk up 5%; Roundhill Memory ETF up 3.6%; Rambus up over 2%.

Hims & Hers Health jumped 7% in overnight trading. The surge is primarily driven by reports of a potential leadership change at the U.S. Food and Drug Administration (FDA), with the President planning to dismiss Commissioner Marty Makary. This is viewed positively as the FDA had previously imposed restrictions on compounded GLP-1 drugs, which impacted Hims & Hers Health's business. A new commissioner could lead to loosened regulatory enforcement, benefiting the company's telehealth and medication distribution model.

Moderna rose 2.5% in overnight trading. The movement was fueled by encouraging Phase 1 clinical data for Moderna's mRNA-based hantavirus vaccine, which showed favorable tolerability and elicited robust antibody responses. Additionally, the company reported first-quarter revenue of $389 million, substantially exceeding the analyst consensus estimate of $228 million.

Further support came from positive first-in-human data for its personalized mRNA cancer therapeutic vaccine EVM16 and an upward revision of the stock's target price by UBS.