Check out some of the biggest movers in the premarket:
Apollo Global (APO), Athens (ATH) – Shares of the private equity firm gained 8% in premarket trading after news that it will merge with retirement services company Athens in an all-equity transaction that values Athens at approximately $ 11 billion . The share of Athens rose by 19.6%.
McAfee (MCFE) – Shares of the cybersecurity company were up 10.9% in premarket trading, following news that it sold its businesses for $ 4 billion in cash to the privately held Symphony Technology Group.
Walt Disney (DIS) – Disney will be able to reopen Disneyland after more than a year. California officials released theme parks and stadiums to open at reduced capacity on April 1. Separately, Disney’s “Raya and the Last Dragon” topped the weekend box office with $ 8.6 million in ticket sales, though that opening was muffled after movie theater chain Cinemark (CNK) declined to show the film. Disney rose 1.5% premarket.
General Electric (GE) – GE is close to a $ 30 billion deal to merge its aircraft leasing business with Ireland’s AerCap (AER), according to people familiar with the case who spoke to The Wall Street Journal. An announcement is expected today on what would be GE’s latest restructuring move. The stock rose 2.3% in the premarket, while the AerCap stock rose 12.3%.
Adaptive Biotechnologies (ADPT) – Adaptive Biotechnologies have been approved by the Food and Drug Administration for emergency use for the “T-Detect” test that confirms recent or previous Covid-19 infection in patients. Its shares rose 11.3% in premarket promotions.
AT&T (T) – AT&T said the Securities and Exchange Commission allegations against three employees are worthless and promised to challenge them. The SEC alleges that employees selectively shared information about smartphone sales in 2016, prompting those analysts to lower their revenue forecasts.
Bumble (BMBL) – The dating services operator received a number of positive recommendations from analysts, with Cowen’s stock “outperforming” in the new coverage and Stifel and Citi starting coverage with a “buy” rating, and Bumble’s stock rising Friday 3.4%. Analysts believe Bumble is poised for a post-pandemic leap in use. Despite the positive recommendations, the share fell 2.8% in premarket trading.
GameStop (GME) – The video game retailer’s stock continues its volatile trading amid more Reddit-related momentum, up 11.4% in the premarket after an increase of three consecutive sessions late last week.
Xpeng (XPEV) – Shares of China-based electric vehicle manufacturer rose 2.2% in premarket trading after reporting a loss of $ 120.7 million for the last quarter, down 42% from the same quarter. year ago. Xpeng competitor Nio (NIO) fell 3.1% in premarket action after Jeffries lowered his stock price target from $ 60 to $ 38.80.
Facebook (FB) – An investigation into Facebook’s racial bias by the Equal Employment Opportunity Commission has been labeled “systemic,” said lawyers for four prosecutors who spoke with Reuters. The plaintiffs accuse Facebook of bias in hiring and promotions, even though the EEOC has made no allegations against the social media giant and the investigation may not lead to findings of misconduct. Facebook lost 1% in premarket trading.
Coherent (COHR) – Coherent said a revised acquisition proposal from optical electronics maker II-VI (IIVI) is superior to its ongoing merger agreement with Lumentum (LITE). Coherent – a developer of laser technology – gave Lumentum until 11:59 p.m. PT on March 11 to submit a revised proposal, or it intends to pass II-VI’s proposal of $ 170 per share in cash and 1.0981 shares of II-VI common stock for each coherent share. II-VI shares fell 2.2% in the premarket.
VF Corp (VFC) – VF was upgraded to “buy” from “hold” at Pivotal Research, which cited a variety of factors, including relatively easy comparable sales comparisons for Vans and positive outlook for North Face and Timberland.
Pearson (PSON) – Pearson shares rose 5.9% in premarket action after the educational publisher announced a strategy update that focuses more on consumers.