Check out some of the biggest movers in the premarket:
GenMark Diagnostics (GNMK) – GenMark is being purchased by Swiss drug company Roche for $ 1.8 billion in cash, or $ 24.05 per share. Shares of the US-based molecular diagnostic testing maker closed Friday at $ 18.50 a share. GenMark was up 29.2% in premarket action.
NXP Semiconductors (NXPI), Penn National Gaming (PENN), Generac (GNRC), Caesars Entertainment (CZR) – The shares will enter the S&P 500 as part of the quarterly rebalancing of the index. NXP was up 8.1% in premarket trading, with Penn up 5.8%, Generac gaining 3.6% and Caesars up 4.8%.
Carnival (CCL) – Carnival’s CEO Arnold Donald told the Financial Times that he sees at least two more difficult years for the cruise industry. Donald said the cruise line operator’s entire fleet could sail by the end of the year, but it will take at least 2023 for revenues to return to pre-Covid levels. Carnival was up 1.2% in the premarket.
AMC Entertainment (AMC) – AMC will begin reopening movie theaters in Los Angeles, starting with two locations today. It plans to open the remaining 23 theaters in Los Angeles on Friday and hopes to have all 56 locations in California open by then, subject to local approvals. AMC rose 8.7% in premarket trading.
Shaw Communications (SJR) – The Canadian communications company agreed to be purchased by rival Rogers Communications for $ 26 billion including debt ($ 20.9 billion in US dollars). Shaw’s US shares were up 53% in the premarket.
Ford Motor (F) – Ford will recall 2.9 million vehicles to check for potentially defective Takata driver’s side airbags. The National Highway Traffic Safety Administration had called on Ford to do so in January, and the automaker plans to notify owners by April 1.
Gilead Sciences (GILD), Merck (MRK) – The drugmakers will study a combination of their experimental drugs to treat HIV. Gilead and Merck will look at the drug cocktail’s effectiveness, even when taken only every few months.
Eli Lilly (LLY) – Eli Lilly said that the experimental treatment of Alzheimer’s in an interim study slightly delayed deterioration in patients over an 18-month period. Lilly has already begun a second investigation into the treatment. Lilly was down 5.3% in the premarket.
Lordstown Motors (RIDE) – Lordstown said it will be issuing a “full and thorough” statement in the coming days that the electric truck manufacturer said would refute a critical report by short-seller Hindenburg Research. Lordstown has said the report contains “half truths and lies.” Its shares were up 5.9% in premarket trading.
XPeng (XPEV) – XPeng received an investment of $ 76.8 million from the provincial government in Guangdong, where the Chinese electric vehicle manufacturer is located and has two factories. XPeng added 4.2% to premarket action.
Dollar General (DG) – The discount retailer was upgraded to “overweight” from “neutral” at Atlantic Equities, citing both the valuation and positive impact of stimulus spending and the continued increase in market share.
AstraZeneca (AZN) – Ireland has become the last country to discontinue use of AstraZeneca’s Covid-19 vaccine, following reports from Norway of blood clots in some patients. Officials said they took the action “out of an abundance of caution,” although AstraZeneca said its study of more than 17 million people showed no increased risk of blood clots.
United Airlines (UAL), American Airlines (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV) – Airline shares are gaining ground after the Transportation Safety Administration said airport screening is now at its highest level in a year lies. Separately, Southwest said passenger demand continues to improve this month. United was up 3% in the premarket, American was up 4.3%, Delta was up 2% and Southwest was up slightly at 1.3%.
DraftKings (DKNG) – The sports betting company announced a proposal of $ 1 billion in convertible bonds due 2028. DraftKings fell 3.5% in premarket trading.