Shares of Bright Health Group, Inc. (NYSE: BHG) witnessed a surge of over 20% in pre-market trading as it announced a definitive agreement with Molina Healthcare, Inc. (NYSE: MOH) to sell its California Medicare Advantage business, Brand New Day and Central Health Plan, for a total purchase consideration of $600 million.  This transaction is expected to substantially bolster Bright Health's capital position once finalized.

In pre-market, $BHG is currently trading at $13.31, reflecting a notable increase of $2.39 (21.89%) following the announcement.

Meanwhile, Merus N.V. (Nasdaq: MRUS) announced that zenocutuzumab (Zeno) has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) to treat patients with advanced unresectable or metastatic NRG1 fusion (NRG1+) pancreatic cancer who have experienced disease progression with previous systemic therapy or for whom suitable alternative treatment options are unavailable

$MRUS was trading at $27.50, up $1.22 (4.64%) in pre-market

In other news, Apple Inc. (Nasdaq: AAPL), a leading technology company, was initiated for coverage by Citigroup with a Buy rating and a price target of $240.

With $AAPL closing at $189.59 on Thursday, the initiation price target suggests a potential upside of $50.41 or approximately 26.61% based on the investment firm's analysis.

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