Check out some of the biggest movers in the premarket:
AstraZeneca (AZN) – The drug company said a US study found that the Covid-19 vaccine is 79% effective in preventing symptomatic disease, 100% in preventing critical illness and hospitalization, and does not increase the risk of blood clots . AstraZeneca shares gained 2.2% in premarket trading.
Blackstone (BX) – Blackstone proposed a $ 6.2 billion buyout from Australian casino operator Crown Resorts. The stock rose above the Australian trading bid price, indicating investors were betting that a higher bid could come from another candidate.
Kansas City Southern (KSU) – The rail operator agreed to be bought by Canadian Pacific Railway (CP) in a $ 25 billion cash-and-stock deal. The transaction is worth $ 275 per share, compared to the Kansas City Southern closing price of $ 224.16 on Friday. Kansas City Southern was up 17.8% in premarket action, while Canadian Pacific was down 2.8%.
PepsiCo (PEP) – Shares of the beverage and snack giant rose 1% in the premarket after Barclays upgraded it to “overweight” by “equal weight.” Barclays noted the stock’s recent underperformance and the potential for accelerated sales and earnings growth.
Stellantis (STLA) – The automaker said a global shortage of semiconductors would affect the production of its popular pickup trucks, with a delay that could take “several weeks”, according to Chrysler and Jeep parent company.
Royal Caribbean (RCL) – Royal Caribbean will restart some Caribbean cruises in June, following a one-year suspension amid the Covid-19 pandemic. Crews are fully vaccinated and adult guests must also be vaccinated. Children under the age of 18 must be able to demonstrate a negative Covid test.
Tesla (TSLA) – Tesla shares will reach $ 3,000 by 2025, according to a projection by ARK Invest founder Cathie Wood. If that prediction comes true, Tesla would be worth about $ 3.6 trillion. The stock jumped 3.6% in premarket trading.
Airbnb (ABNB) – Airbnb shares rose 1.5% in premarket trading as more Americans receive Covid-19 vaccines and resume travel plans.
SunRun (RUN) – The solar company was rated “positive” in its new coverage at Susquehanna Financial, saying the largest US installer of residential solar power systems would benefit from the expected strong growth in that market. Shares were up 1.9% in premarket trading.
Zoominfo Technologies (ZI) – Goldman Sachs rated the digital ad technology platform provider a “buy” in new messaging, given the robust data provided to sales representatives and the streamlining of the lead generation process. Zoominfo shares rose 2.5% in premarket action.
JetBlue (JBLU) – The airline plans to raise $ 650 million through the sale of convertible senior notes due 2026. Its stock fell 2% in premarket action.
DraftKings (DKNG) – Shares of the sports betting company rose 2.1% in the premarket after Loop Capital reiterated its call to DraftKings as ‘top pick’, noting that New York is poised to legalize online gambling and that the state market is less will be more competitive for DraftKings than New Jersey.