AstraZeneca, South Kansas Metropolis, Tesla & extra
Check out some of the largest moving companies on the pre-market:
AstraZeneca (AZN) – The drug maker said a U.S. study showed its Covid-19 vaccine was 79% effective in preventing symptomatic illness, 100% effective against critical illness and hospitalization, and no higher risk for Represents blood clots. The AstraZeneca share gained 2.2% in premarket trading.
Blackstone (BX) – Blackstone proposed a $ 6.2 billion buy-out of Australian casino operator Crown Resorts. The stock rose above the bid price in Australian trading, signaling to investors that a higher bid could come from another applicant.
Kansas City Southern (KSU) – The rail operator agreed to be bought by the Canadian Pacific Railway (CP) in a $ 25 billion cash and stock deal. The transaction is valued at $ 275 per share, compared to Kansas City Southern’s closing price on Friday of $ 224.16. Kansas City Southern was up 17.8% before entering the market while the Canadian Pacific was down 2.8%.
PepsiCo (PEP) – The drinks and snacks giant’s inventory increased 1% in the pre-market after Barclays upgraded it from “equally weight” to “overweight”. Barclays noted the stock’s recent underperformance and the potential to accelerate sales and earnings growth.
Stellantis (STLA) – The automaker said a global semiconductor shortage would affect the production of its popular pickup trucks. Chrysler and Jeep’s parents said it could take “several weeks”.
Royal Caribbean (RCL) – Royal Caribbean will resume some Caribbean cruises in June after a year-long suspension amid the Covid-19 pandemic. Crews are fully vaccinated and adult guests must also be vaccinated. Children under the age of 18 must have a negative Covid test.
Tesla (TSLA) – ARK Invest founder Cathie Wood predicts Tesla shares will hit $ 3,000 in 2025. If that prediction changes, Tesla would be worth about $ 3.6 trillion. The share rose 3.6% in premarket trading.
Airbnb (ABNB) – Airbnb shares rose 1.5% in premarket trading as more Americans get Covid-19 vaccines and resume travel plans.
SunRun (RUN) – The solar energy company was rated “Positive” by Susquehanna Financial for its new coverage. The largest US installer of solar power systems for private households would benefit from the expected strong growth in this market. In premarket trading, shares rose 1.9%.
Zoominfo Technologies (ZI) – Goldman Sachs rated the digital advertising technology platform provider a “buy” for new coverage, noting the robust data for salespeople and the streamlining of the lead generation process. The Zoominfo share gained 2.5% in the pre-market.
JetBlue (JBLU) – The airline plans to raise $ 650 million through the sale of senior convertible bonds due in 2026. The share fell 2% in the pre-market.
DraftKings (DKNG) – The sports betting company’s stock rose 2.1% in the pre-market after Loop Capital reiterated its call for DraftKings as a “top pick,” stating that New York is ready to legalize online gambling, and that the state’s market will be less competitive with DraftKings than New Jersey.