Check out some of the biggest movers in the premarket:
Palantir Technologies (PLTR) – Shares of the company for business analysis fell 6.2% in the premarket after reporting a quarterly loss, although earnings hit Street’s highest estimates with a jump in new business.
AutoNation (AN) – The auto trader beat estimates by 42 cents a share, with quarterly earnings of $ 2.43 a share. Turnover also exceeded estimates as demand remains high when stocks are tight. AutoNation announced the addition of $ 1 billion to its share buyback program, and its shares are up 1.9% in premarket trading.
MicroStrategy (MSTR) – The business analytics company continues to benefit from its substantial investment in bitcoin, which is now close to $ 50,000. Its shares are up another 5% in the premarket.
Constellation Brands (STZ) – Beer brewer AB InBev (BUD) is suing Constellation for using the Corona brand name for its hard seltzer. AB InBev states that a deal between the two in 2013 involving the brand name did not allow Constellation to use it for products other than beer. Shares of AB InBev are up 3% in premarket trading.
CoreLogic (CLGX) – CoStar Group (CSGP) has submitted a new offer to acquire rival real estate data provider CoreLogic at a value of $ 95.76 per share of stock, following CoreLogic’s February 4 agreement by private equity firms Stone Capital and Insight Partners will be acquired for $ 80 per share in cash. CoStar made its new offer in a letter to CoreLogic’s board, saying it was baffled to learn that CoreLogic had accepted that deal over and above its previous offer of $ 86.30 per share in stock. CoreLogic was up 5.5% in premarket trading, while CoStar was down 3.4%.
Southwest Airlines (LUV) – The airline said it is experiencing a significant year-over-year impact on passenger demand as a result of Covid-19, although it expects an improvement from February to March. Southwest stocks climbed 2.2% in the premarket.
CVS Health (CVS) – CVS reported quarterly earnings of $ 1.30 a share, 6 cents a share above estimates. Sales also exceeded Wall Street predictions, aided in part by Covid-19 testing and pharmacy vaccinations. Its shares rose 2.4% in premarket trading.
Progressive (PGR) – The insurer struck a deal to buy Protective Insurance (PTVCB) for $ 23.30 per share in cash, compared to Protective’s close of $ 15.01 per share on Friday. Protective stocks were up about 47% in premarket trading.
Apple (AAPL) – Automaker Nissan said it is not in talks with Apple about a possible joint venture for autonomous vehicles. A report in the Financial Times said the two companies briefly discussed the matter, but those talks failed.
Facebook (FB) – Facebook is designing a smartwatch that would have messaging functions and provide health and fitness information, according to technology website The Information, citing people familiar with the matter. Sales of the device would start next year, according to the report.
Nvidia (NVDA) – The Federal Trade Commission has opened an investigation into the graphics chipmaker’s deal to buy UK-based chip designer Arm Holdings for a whopping $ 40 billion. The deal had reportedly been the subject of protests from regulators by Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT). Nevertheless, shares of Nvidia rose 1.2% in pre-market promotions.
Bristol-Myers Squibb (BMY) – Bristol and French partner Sanofi (SNY) will pay more than $ 834 million to Hawaii in a case involving the blood-thinning drug Plavix. The state had accused the drug makers of warning non-white patients of the risks associated with the drug. Bristol and Sanofi said the ruling was inconsistent with the evidence and promised to appeal.
Toyota Motor (TM) – The automaker will suspend production at nine plants in Japan after an earthquake that hit Japan’s northeastern region last week. Toyota has not specified the impact on production. Its shares are down 1.1% in premarket trading.
Cintas (CTAS) – The uniforms and construction services provider gave a better-than-expected earnings outlook for the current quarter and said it now has a clearer picture of Covid-19’s impact on its business and its balance sheet remains solid.