Stock futures rose a day higher on Thursday after the S&P 500 closed 0.03% higher yesterday. The cannabis sector has skyrocketed over the past week and this morning two cannabis names are added to the list.
Here are some of the top risers during Thursday’s premarket trading.
1. Pinterest PINS | + 6%
Shares of Pinterest (PINS) – Request report surged more than 5% in premarket trading after Microsoft allegedly approached the social media company about a possible sale, the Financial Times reported.
2. Zillow Group ZG | Up + 12%
Shares of Zillow Group (ZG) – Request report rose more than 12% in premarket trading after Deutsche Bank raised its target price on the real estate giant from $ 202 to $ 225.
3. Uber UBER | -1.7% down
Shares of Uber (UBER) – Request report fell early on Thursday, even after the ride-hailing giant reported a smaller fourth-quarter loss on Wednesday, helped by a strong performance in its food delivery business.
Uber said gross mobility bookings were down 43% in January. However, delivery bookings more than doubled (+ 130%) to $ 10.05 billion.
JPMorgan raised its target price for Uber from $ 64.43 to $ 72.
4. Kraft Heinz KHC | + 1.75%
Shares of Kraft Heinz (KHC) – Request report rose premarket after the food company agreed to sell its Planters nut snack business to Hormel Foods for $ 3.35 billion in a cash deal.
Chief Executive Miguel Patricio said the move will allow Kraft to focus on areas with greater growth potential. The company contributed approximately $ 1.1 billion to Kraft’s revenue in fiscal 2020.
5. Pepsi PEP | + 0.45% up
Shares of Pepsi (FUT) – Request report progressed Wednesday after the major beverage and snack market reported fourth-quarter profit that exceeded analyst expectations.
Pepsi reported adjusted earnings of $ 1.47 per share, higher than analysts estimate of $ 1.46 per share. Revenue increased 8.8% to $ 22.46 billion, surpassing the FactSet consensus of $ 21.80 billion.
We ended the year strongly with an acceleration of our global beverage business, while our global snacks and food businesses remained resilient in the fourth quarter, ”said Chief Executive Ramon Laguarta.
6. Molson Coors TAP | Down -5.3%
Shares of Molson Coors (CRANE) – Request report fell early on Thursday after the brewer reported that its adjusted fourth-quarter earnings and sales missed analyst expectations.
“While uncertainty and on-premise challenges remain, particularly in Europe, we expect 2021 to be a year of both revenue growth and investment,” said Chief Financial Officer Tracey Joubert.
7. Sundial growers SNDL | + 46.5%
Shares of sundial growers (SNDL) – Request report jumped into premarket trading Thursday after the cannabis industry followed the wave created by Reddit’s WallStreetBets and the availability to buy on Robinhood, while other names are unavailable.
8. Tilray TLRY | + 4.8% up
Shares of Tilray (TLRY) – Request report peaked early Thursday after the cannabis industry caught the continued attention of traders on Reddit. The stock is up more than 670% so far this year.