Skip to main content

US Market | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Moderna, Goldman Sachs, Under Armour & more

Peter Schacknow

Take a look at some of the biggest movers in the premarket:
Moderna (MRNA) – The biotech company announced positive interim data from a phase 1 study of its novel coronavirus vaccine candidate. Moderna said dose-dependent increases in immune responses were seen across three different dose levels, and that the treatment was generally safe and well-tolerated.
Goldman Sachs (GS) – Warren Buffett’s Berkshire Hathaway sold most of its holdings in Goldman, according to Berkshire’s quarterly 13F filing. Berkshire’s sale of Goldman shares brings its holdings down to 1.9 million shares from more than 10 million, cutting its stake to about 0.6%. Berkshire had invested $5 billion in the Wall Street stalwart during the 2008 financial crisis.
Uber (UBER), Grubhub (GRUB) – The Wall Street Journal reports the CEOs of both companies met over the weekend to continue merger discussions, as they try to work out a stock-swap deal that would combine Uber’s delivery service, Uber Eats, with Grubhub. Grubhub continues to maintain that Uber’s current offer is too low.
Under Armour (UAA) – Allianz chief economic advisor Mohamed El-Erian was named lead independent director, effective at the athletic apparel maker’s annual meeting on May 27. El-Erian has been an Under Armour board member since 2018.
Alphabet (GOOGL) – Alphabet’s Google unit will be the target of likely antitrust lawsuits from the Justice Department and state attorneys general, according to The Wall Street Journal. The suits will focus on Google’s dominance in both the advertising business and in online search.
T-Mobile US (TMUS) – Japan’s Softbank is in talks to sell a significant portion of its stake in the wireless operator to controlling shareholder Deutsche Telekom, according to The Wall Street Journal. Such a transaction would boost Deutsche Telekom’s share from nearly 44% to over 50%.
International Game Technology (IGT) – The maker of electronic gaming equipment and software earned 8 cents per share for its latest quarter, beating the 3 cents a share consensus estimates. Revenue fell short of forecasts. The company said the impact from Covid-19 began to set in during March, amid closures of casinos and gaming halls, but IGT said it has sufficient liquidity to weather the pandemic.
Tesla (TSLA) – Tesla has zeroed in on two locations in Texas and Oklahoma as possible sites for a new factory, according to a source intimately familiar with the automaker’s plans who spoke to CNBC.
Best Buy (BBY) – Best Buy was upgraded to “outperform” from “market perform” at Telsey Advisory Group, which expects the electronic retailer to benefit from the shift to working at home and increased consumer adoption of e-commerce.
J.C. Penney (JCP) – The retailer filed for Chapter 11 bankruptcy protection, with plans to hand control to lenders and split into two separate companies. One would hold the retail operations, while the other would be a real estate investment trust holding some of the company’s property.
Walt Disney (DIS) – Disney will reopen part of the shopping area at its Disney Springs resort in Florida on Wednesday. The company is implementing a variety of safety measures, including masks and contactless payment options.
Fiat Chrysler (FCAU) – Fiat Chrysler is in talks to set up a $6.8 billion credit line that will be guaranteed by the Italian government. The automaker is trying to shore up its finances as it deals with the impact of the coronavirus outbreak as well as proceed with its planned merger with Peugeot parent PSA Groupe.
Cinemark Holdings (CNK) – Cinemark was downgraded to “neutral” from “buy” at B Riley FBR, which points to a variety of negative factors for the movie theater operator including a worsening coronavirus situation in Brazil.


Popular posts from this blog

Analysis | The Cybersecurity 202: How the shutdown could make it harder for the government to retain cybersecurity talent

By Joseph Marks 13-17 minutes THE KEY President Trump delivers an address about border security amid a partial government shutdown on Jan. 8. (Carolyn Kaster/AP) The partial government shutdown that's now in its 18th day is putting key cyber policy priorities on hold and leaving vital operations to a bare bones staff. But the far greater long-term danger may be the blow to government cyber defenders' morale, former officials warn. With the prospect of better pay and greater job security in the private sector, more government cyber operators are likely to decamp to industry, those former officials tell me, and the smartest cybersecurity graduates will look to industry rather than government to hone their skills. That’s especially dangerous, they say, considering the government’s struggle to recruit and retain skilled workers amid a nationwide shortage of cybersecurity talent. About 20 percent of staffers are furloughed at the De

Democrats call for investigation into Trump’s iPhone use after a report that China is listening:Analysis | The Daily 202 I The Washington Post. By James Hohmann _________________________________________________________________________________ President Trump and Chinese President Xi Jinping visit the Great Hall of the People in Beijing last November. (Andrew Harnik/AP) With Breanne Deppisch and Joanie Greve THE BIG IDEA: If Democrats win the House in two weeks, it’s a safe bet that one of the oversight hearings they schedule for early next year would focus on President Trump’s use of unsecured cellphones. The matter would not likely be pursued with anywhere near the gusto that congressional Republicans investigated Hillary Clinton’s use of a private email server during her time as secretary of state. Leaders of the minority party have higher priorities . But Democratic lawmakers made clear Thursday morning that they will not ignore a New York Times report that Trump has refused to stop using iPhones in the White House, despite repeated warnings from U.S. intelligence offici

RTTNews: Morning Market Briefing.-Weekly Jobless Claims Edge Down To 444,000. May 13th 2010

Morning Market Briefing Thu May 13 09:01 2010   Commentary May 13, 2010 Stocks Poised For Lackluster Open Amid Mixed Market Sentiment - U.S. Commentary Stocks are on pace for a mixed start to Thursday's session, as a mostly upbeat jobs report continued to relieve the markets while some consternation regarding the European debt crisis remained on traders' minds. The major index futures are little changed, with the Dow futures down by 4 points. Full Article Economic News May 13, 2010 Weekly Jobless Claims Edge Down To 444,000 First-time claims for unemployment benefits showed another modest decrease in the week ended May 8th, according to a report released by the Labor Department on Thursday, although the number of claims exceeded estimates due to an upward revision to the previous week's data. Full Article May 13, 2010 Malaysia's Decade High Growth Triggers Policy Tightening Malaysia's economy grew at the fastest pace in a decade in