Check out some of the biggest movers in the premarket:
Hilton Grand Vacations (HGV) – The timeshare company posted a bigger-than-expected loss for the last quarter, while revenues were also below Wall Street’s forecasts. Hilton Grand Vacations said the pandemic has created a challenging environment, but said 85% of properties are now open and operational. Its shares fell 2.3% in premarket trading.
NRG Energy (NRG) – The energy provider reported better-than-expected earnings and sales for the last quarter and also said the financial impact of the extreme weather in Texas is expected to be within NRG’s current guidelines. The company’s stock rose 5.5% in the premarket.
Perrigo (PRGO) – Perrigo shares initially rose 4.1% in premarket action after the drug company announced a deal to sell its Generic Rx Pharmaceuticals business to private equity firm Altaris Capital for $ 1.55 billion in cash and other considerations. However, earnings disappeared after Perrigo reported lower-than-expected earnings for the last quarter as sales declined.
Johnson & Johnson (JNJ) – J&J rose 2.1% in the premarket after the Covid-19 vaccine received approval from the Food and Drug Administration over the weekend, followed by an approval from the Centers for Disease Control and Prevention. Administration officials say deliveries of the vaccine should begin on Tuesday.
Berkshire Hathaway (BRK.B) – Berkshire reported a 23% increase in fourth-quarter earnings to $ 35.8 billion, aided by an increase in the value of Berkshire’s stock holdings. Berkshire also bought back nearly $ 25 billion in stock in 2020, with CEO Warren Buffett explaining in his annual letter that the move increased shareholder value while still leaving plenty of money for other opportunities that could arise. Berkshire Class B shares were up 2.1% for the market.
Twitter (TWTR) – Twitter rose 1% in premarket trading after announcing its intention to sell $ 1.25 billion worth of convertible bonds due 2026, depending on market conditions.
Walmart (WMT) – The retailer has dropped his $ 35 minimum rate for his two-hour courier service. However, the $ 35 minimum still applies for regular delivery, sidewalk pickup, and Walmart + delivery services. Walmart shares were up 1% in the premarket.
L3Harris Technologies (LHX) – The defense contractor struck a deal to sell its military training division to Canadian aerospace company CAE (CAE) for $ 1.05 billion. The deal will strengthen CAE’s defense business.
Logitech (LOGI) – Logitech stock fell 1.5% for the market after it said operating income for fiscal 2022 would be between $ 750 million and $ 800 million, down from the $ 1.1 billion it expects to report for fiscal 2021. Logitech had seen strong demand for devices such as computer mice and keyboards due to the pandemic, with more people working from home and attending school.
Twilio (TWLO) – Twilio is in talks to invest up to $ 750 million in messaging company Syniverse Technologies, according to people familiar with the issue who have spoken to The Wall Street Journal. They said the projected investment by cloud communications firm Syniverse – currently owned by private equity firm Carlyle Group (CG) – would value at $ 2 billion to $ 3 billion. Twilio rose 2.3% in premarket action.
AstraZeneca (AZN) – According to the London Times, the drug company has sold its stake in Moderna (MRNA) for more than $ 1 billion. The newspaper said the sale happened after Moderna’s stock boomed following approval of the Covid-19 vaccine, although the exact timing was unclear. Moderna shares were up 1.8% in premarket trading.
Vector Acquisition (VACQ) – The special-purpose acquisition company will disclose Rocket Lab, the spaceflight startup, through a merger agreement that values Rocket Lab at $ 4.1 billion. The deal is expected to be completed in the second quarter. Vector stocks were up 17.1% in premarket trading.
Wayfair (W) – The household goods retailer’s shares rose 2.1% in the premarket after Truist Securities upgraded the stock to “buy” from “hold,” saying it sees an improved picture for long-term profitability term and a faster growth trajectory.
Catalent (CTLT) – According to a report in the Financial Times, the pharmaceutical technology company is struggling with vaccine manufacturing. Catalent fills vaccine vials for both Johnson & Johnson and Moderna, and the report said problems with automation technology have resulted in vials needing to be hand-checked.
Citigroup (C) – Citigroup shares rose 2.1% in premarket trading as Jane Fraser today takes over as the bank’s Chief Executive Officer and becomes the first woman to run a major US bank.