Main U.S. indexes climbed on light volume the day after the Christmas holiday as hopes the Fed will begin lowering interest rates in the first quarter of next year lifted sentiment.

Here are some of the biggest U.S. stock movers today:

RayzeBio (RYZB) stock rose 100% after Bristol Myers Squibb (NYSE:BMY) agreed to acquire RayzeBio for $62.50 per share in cash, for a total equity value of approximately $4.1 billion. Bristol Myers Squibb shares were lower by 1.8%.

Gracell Biotechnologies (GRCL) stock rose 60% after AstraZeneca (NASDAQ:AZN) entered into an agreement to acquire the company for $10 per ADS, plus a non-tradable contingent value right of $1.50 per ADS. The deal is seen furthering AstraZeneca’s cell therapy ambition.

Intel (NASDAQ:INTC) stock climbed 3.9% after it finalized an incentive package with Israel to bolster the expansion of its Kiryat Gat wafer fabrication operations. The incentives amount to 12.8% of Intel’s intended $25 billion investment in the site.

ZIM Integrated Shipping Services (ZIM) shares fell 18% following an announcement that Maersk will resume shipping through the Red Sea. A handful of other shipping companies including Frontline (NYSE:FRO) and Nordic American Tankers (NAT) also traded lower. Attacks by Houthi rebels caused concerns about a spike in shipping prices recently, but fears eased because of efforts by a multinational maritime task force to protect vessels.

Nio (NYSE:NIO) stock rose 9% after it launched the ET9, a smart electric executive sedan, at event on Saturday.

Hollysys Automation (NASDAQ:HOLI) stock rose 6.5% following an improved acquisition offer from a consortium led by Dazheng Group

FedEx (NYSE:FDX) shares climbed 1.9% after the company announced a new $1 billion accelerated share repurchase agreement.