Check out some of the biggest movers in the premarket:
Tesla (TSLA) – Tesla delivered nearly 185,000 vehicles in the first quarter, a record for the company and more than 10,000 on consensus forecasts. The stock jumped 7.6% in the premarket.
GameStop (GME) – The video game retailer announced plans to sell up to 3.5 million shares in an “at-the-market” offering, with plans to use the proceeds to strengthen its balance sheet and accelerate its ongoing transformation. GameStop also said sales for the first nine weeks of the current quarter were 11% higher than the same period a year ago. GameStop plummeted 15.1% in premarket trading.
Roblox (RBLX) – Shares of the video game development platform company’s stock rose 3.5% in premarket action, as Goldman began coverage with a “buy” rating and Morgan Stanley began coverage with an “overweight” rating. Both companies cite robust growth prospects, with Goldman noting that Roblox is able to outsource game development costs to creators.
Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL) – The Centers for Disease Control and Prevention have updated their guidelines for US cruise ship resumption, although no specific resumption date was set. Royal Caribbean gained 1.5% in the premarket, with Norwegian up 2.5% and Carnival up 2.2%.
Johnson & Johnson (JNJ) – J&J will take over production at a facility owned by contract manufacturer Emergent Biosolutions (EBS) after a quality control issue ruined a batch of J & J’s Covid-19 vaccine. The Wall Street Journal reports that production of AstraZeneca’s (AZN) Covid-19 vaccine will be relocated to facilitate the switch. Separately, J&J extended a trial of its Covid-19 vaccine to 12 to 17 year olds.
Tribune Co. (TPCO) – Tribune received a $ 680 million takeover bid – valued at $ 16.50 per share – from Choice Hotels chairman Stewart Bainum and Swiss billionaire Hansjorg Wyss. That’s above a $ 635 million deal the newspaper publisher previously agreed with hedge fund Alden Global Capital.
Pinterest (PINS) – The image-sharing website operator is in talks to buy photo app company VSCO, according to The New York Times. A potential deal price could not be determined, but VSCO was last estimated at $ 550 million. Pinterest shares rose 1.6% in the premarket.
General Motors (GM), Ford Motor (F) – Wells Fargo began reporting on both automakers with “overweight” ratings, noting Ford’s faster turnaround under new CEO Jim Farley and GM’s leadership in electric vehicles and connectivity. GM shares added 1.7% in premarket action, while Ford was up 1.5%.
Pioneer Natural (PXD) – Pioneer Natural struck a deal to buy private rival shale producer DoublePoint Energy for approximately $ 6.4 billion, continuing the consolidation trend in the shale industry. Pioneer shares fell 4.4% in premarket trading.
Moderna (MRNA) – Moderna has received Food and Drug Administration approval to fill Covid-19 vaccine vials with up to 15 doses, higher than the previous 10 doses. Moderna said it expects to start shipping the 15-dose vials within a few weeks, and its stock increased 1.5% in premarket trade.
Morgan Stanley (MS) – Morgan Stanley said it would increase its dividend once the restrictions are lifted by the Federal Reserve. The Fed will publish the next round of bank stress test results in June. Morgan Stanley rose 1.4% in the premarket.
Planet Fitness (PLNT) – The fitness chain plans to add up to 100 new locations in the next fiscal year, adding to the current total of more than 2,100. CFO Tom Fitzgerald told The Wall Street Journal that the company also wants to boost investment in its app.
Lamb Weston (LW) – Shares of the foodservice company gained 1.9% in the premarket after Bank of America Securities upgraded it to “buy” from “neutral” and raised its price target from $ 84 per share to $ 100 per share. BofA said the company is poised to approach pre-Covid business levels, with demand improving.